Core Insights - F.N.B. reported revenue of $407.12 million for the quarter ended December 2024, reflecting a year-over-year increase of 20.8% [1] - The earnings per share (EPS) remained stable at $0.38, matching the previous year's figure, while the EPS surprise was +15.15% against a consensus estimate of $0.33 [1] Financial Performance Metrics - The efficiency ratio was reported at 56.9%, slightly higher than the estimated 55.7% [4] - The net interest margin was consistent at 3%, aligning with analyst expectations [4] - Total interest-earning assets averaged $42.67 billion, exceeding the estimate of $42.48 billion [4] - Total non-performing loans amounted to $159 million, significantly higher than the estimated $125.85 million [4] - Net charge-offs to average loans were reported at 0.2%, matching the analyst estimate [4] - Total non-interest income was $84.90 million, below the estimated $88.53 million [4] - Net interest income was reported at $322.22 million, slightly above the average estimate of $319.92 million [4] - Capital markets income reached $6.57 million, surpassing the estimate of $6.29 million [4] - Trust services income was $11.56 million, exceeding the estimated $11.02 million [4] - Insurance commissions and fees were reported at $4.53 million, below the estimate of $4.82 million [4] - Net interest income (FTE) was $325.15 million, compared to the average estimate of $321.23 million [4] Stock Performance - F.N.B. shares have returned +6.6% over the past month, outperforming the Zacks S&P 500 composite's +2.1% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market [3]

Core Insights - F.N.B. reported quarterly earnings of $0.38 per share, exceeding the Zacks Consensus Estimate of $0.33 per share, with a year-over-year comparison showing no change in earnings per share [1] - The company achieved an earnings surprise of 15.15% for the quarter, while the previous quarter saw a negative surprise of -5.56% [1][2] - F.N.B. posted revenues of $407.12 million for the quarter, slightly missing the Zacks Consensus Estimate by 0.21%, but showing an increase from $337.11 million year-over-year [2] Earnings Performance - Over the last four quarters, F.N.B. has surpassed consensus EPS estimates two times [2] - The current consensus EPS estimate for the upcoming quarter is $0.32, with expected revenues of $409.33 million, and for the current fiscal year, the estimate is $1.42 on $1.71 billion in revenues [7] Stock Performance - F.N.B. shares have increased approximately 7.7% since the beginning of the year, outperforming the S&P 500's gain of 2.9% [3] - The stock currently holds a Zacks Rank of 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Outlook - The Banks - Southeast industry, to which F.N.B. belongs, is currently ranked in the top 24% of over 250 Zacks industries, suggesting a favorable outlook [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Financial Performance - F.N.B. Corporation reported Q4 2024 net income of $109.9 million, or $0.30 per diluted common share, compared to $48.7 million, or $0.13 per diluted common share in Q4 2023[1][9] - For the full year 2024, net income available to common stockholders was $459.3 million, or $1.27 per diluted common share, down from $476.8 million, or $1.31 per diluted common share in 2023[3] - Net interest income for Q4 2024 was $322.2 million, a slight decrease of $1.1 million, or 0.3%, from the prior quarter[7][10] - Non-interest income totaled $50.9 million, a decrease of $38.8 million, or 43.2%, from the prior quarter, with operating non-interest income (non-GAAP) at $84.9 million, a 5.3% decrease from the record level in the prior quarter[23] - Net income for Q4 2024 was $109,861,000, a marginal decrease of 0.2% from Q3 2024 and an increase of 116.8% from Q4 2023[46] - Diluted earnings per share for Q4 2024 was $0.30, unchanged from Q3 2024 and up 130.8% from $0.13 in Q4 2023[46] Asset and Loan Growth - Total loans and leases increased by $1.6 billion, or 5.0%, with consumer loans up $949 million, or 8.0%, and commercial loans up $667.2 million, or 3.3%[5][12] - Average loans and leases totaled $33.8 billion, an increase of $27.7 million, or 0.1%, with average commercial loans and leases increasing $16.2 million, or 0.1%[20] - Net loans and leases rose by 0.7% quarter-over-quarter to $33,516 million, reflecting a 5.0% increase year-over-year[47] - Total loans and leases rose to $33,939 million in 4Q24, up 5.0% from $32,323 million in 4Q23[57] Deposit Growth - Total deposits rose by $2.4 billion, or 6.9%, driven by a $1.9 billion increase in interest-bearing demand deposits[7][13] - Average deposits totaled $37.0 billion, increasing $1.4 billion, or 3.8%, due to organic growth in new and existing customer relationships[21] - Total deposits grew by 0.9% from Q3 2024 to $37,107 million, and increased by 6.9% compared to Q4 2023[47] Credit Quality and Losses - The provision for credit losses was $22.3 million, with net charge-offs of $20.6 million, slightly down from $21.5 million in the prior quarter[7] - The ratio of non-performing loans and OREO to total loans and OREO increased 9 basis points to 0.48%, with total delinquency increasing 4 basis points to 0.83%[23] - Non-performing loans increased to $159 million in Q4 2024, up 23.3% from $129 million in Q3 2024 and 48.6% from $107 million in Q4 2023[61] - The allowance for credit losses on loans and leases was $422.8 million in Q4 2024, a slight increase of 0.6% from $420.2 million in Q3 2024 and 4.3% from $405.6 million in Q4 2023[63] Capital and Equity - The CET1 regulatory capital ratio was 10.6% at December 31, 2024, compared to 10.4% at September 30, 2024[25] - Tangible book value per common share (non-GAAP) was $10.49 at December 31, 2024, an increase of $0.16 per share from the prior quarter[25] - Stockholders' equity increased by 0.8% from Q3 2024 to $6,302 million, and by 4.2% from Q4 2023[47] - Total stockholders' equity for Q4 2024 was $6,301,650, up from $6,248,456 in Q3 2024 and $6,049,969 in Q4 2023[69] Operational Efficiency - The efficiency ratio for 2024 was 55.61%, compared to 51.19% in 2023, indicating a decline in operational efficiency[54] - The efficiency ratio (FTE) for Q4 2024 was 56.88%, an increase from 55.16% in Q3 2024 and from 52.51% in Q4 2023[70] Future Outlook - F.N.B. Corporation expects strong revenue growth and a return to positive operating leverage in 2025[4] - The company warns that actual results may differ materially from forward-looking statements due to various risks and uncertainties[35] Regulatory and Market Environment - The company emphasizes the importance of effective risk management to navigate uncertainties such as geopolitical instability and supply chain disruptions[8] - Legal and regulatory developments may affect F.N.B. Corporation's competitive position and ability to attract talent, including changes in consumer protection laws and accounting standards[8] - The company is subject to regulatory capital ratios that depend on financial performance and capital regulations, impacting its ability to return capital to shareholders[8] Miscellaneous - F.N.B. Corporation has total assets of nearly $49 billion and operates approximately 350 banking offices across seven states and the District of Columbia[42] - The company provides a full range of commercial and consumer banking services, including mortgage lending and mobile banking solutions[43] - F.N.B. Corporation is included in the S&P MidCap 400 Index, reflecting its significant market presence[44] - The company reported a realized loss on investment securities restructuring of $33,980 thousand in Q4 2024[70]

Financial Performance - FNB Corporation reported net income available to common stockholders of $109.9 million for Q4 2024, compared to $48.7 million in Q4 2023 and $110.1 million in Q3 2024 [1] - Operating earnings per diluted common share (non-GAAP) was $0.38 in Q4 2024, same as Q4 2023 and up from $0.34 in Q3 2024 [2] - Full-year 2024 net income available to common stockholders was $459.3 million, down from $476.8 million in 2023 [3] - Full-year 2024 operating earnings per diluted common share (non-GAAP) was $1.39, down from $1.57 in 2023 [3] Loan and Deposit Growth - Total loans and leases increased by $1.6 billion (5.0%) year-over-year in Q4 2024, driven by $949 million (8.0%) growth in consumer loans and $667.2 million (3.3%) growth in commercial loans [5] - Total deposits increased by $2.4 billion (6.9%) year-over-year in Q4 2024, with $1.9 billion growth in interest-bearing demand deposits and $1.3 billion in shorter-term time deposits [5] - Loan-to-deposit ratio improved to 91% at December 31, 2024 from 93% a year ago [13] Capital and Asset Quality - Tangible book value per share (non-GAAP) grew 11% year-over-year to $10.49 [4] - CET1 regulatory capital ratio improved to 10.6% (estimated) at December 31, 2024 from 10.0% a year ago [5] - Total delinquencies were 0.83% and net charge-offs were 0.19% for full-year 2024 [4] - Non-performing loans and OREO to total loans and OREO increased to 0.48% in Q4 2024 from 0.33% a year ago [16] Interest Income and Margin - Net interest income totaled $322.2 million in Q4 2024, a slight decrease of $1.1 million (0.3%) from Q3 2024 [5] - Net interest margin (FTE) (non-GAAP) declined to 3.04% in Q4 2024 from 3.08% in Q3 2024 and 3.21% in Q4 2023 [5] - Yield on earning assets (non-GAAP) increased to 5.34% in Q4 2024 from 5.25% a year ago, while cost of funds increased to 2.42% from 2.14% [11] Non-Interest Income and Expense - Non-interest income totaled $50.9 million in Q4 2024, including a $34.0 million realized loss on securities restructuring [5] - Operating non-interest income (non-GAAP) increased 5.6% year-over-year to $84.9 million in Q4 2024 [14] - Non-interest expense decreased 6.5% year-over-year to $248.2 million in Q4 2024 [15] - Efficiency ratio (non-GAAP) was 56.9% in Q4 2024, compared to 55.2% in Q3 2024 [26]

Analysts on Wall Street project that F.N.B. (FNB) will announce quarterly earnings of $0.33 per share in its forthcoming report, representing a decline of 13.2% year over year. Revenues are projected to reach $407.99 million, increasing 21% from the same quarter last year.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Prior to a company's earnings rel ...

PITTSBURGH, Jan. 6, 2025 /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) announced today that it plans to issue financial results for the fourth quarter of 2024 before the market open on Wednesday, January 22, 2025. Chairman, President and Chief Executive Officer, Vincent J. Delie, Jr., Chief Financial Officer, Vincent J. Calabrese, Jr., and Chief Credit Officer, Gary L. Guerrieri, plan to host a conference call to discuss the Company's financial results the same day at 8:30 AM ET. Participants are encourage ...

New FNB Headquarters a Cornerstone For One Of the Largest, Most Socially Responsible Development Projects in the U.S. PITTSBURGH, Dec. 16, 2024 /PRNewswire/ -- FNB Financial Center, the new Pittsburgh-based corporate headquarters for F.N.B. Corporation (NYSE: FNB), was recently certified LEED Gold by the U.S. Green Building Council (USGBC). LEED, the world's most widely used green building rating system, provides a framework for energy-efficient, sustainable design, construction and operations. Projects ach ...

PITTSBURGH, Oct. 31, 2024 /PRNewswire/ -- First National Bank, the largest subsidiary of F.N.B. Corporation (NYSE: FNB), announced today it has hired Kelly Trombetta as Chief Operational Risk Officer. Kelly Trombetta Trombetta is responsible for proactively assessing FNB's operational risk management program and ensuring that appropriate systems and processes are in place to comply with regulatory rules that will apply to the Company as it approaches $50 billion in assets. She joins FNB with more than ...

Shares of F.N.B. Corporation (FNB) lost 5.7% in after-market trading following the release of its lower-than-expected third-quarter 2024 results. Adjusted earnings per share of 34 cents lagged the Zacks Consensus Estimate of 36 cents. Moreover, the bottom line reflected a decline of 15% from the prior-year quarter’s level.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The results were primarily affected by higher expenses and lower net interest income (NII). Nonetheless, a higher n ...

Financial Data and Key Metrics - Q3 operating net income available to common shareholders was $122 million, or $0.34 per diluted share, after adjusting for $15 million of significant items impacting earnings [3] - Record CET1 ratio of 10.4% and tangible book value growth of 15% YoY [4] - Total loans increased 4.6% annualized linked quarter to $33.7 billion, excluding a $431 million indirect auto loan sale [5] - Total deposits increased 5.1% or $1.8 billion linked quarter to $36.8 billion [5] - Loan-to-deposit ratio improved to 91.7%, down nearly 5 percentage points from last quarter [6] - Net interest income increased 2.4% linked quarter to $323.3 million [16] - Efficiency ratio was 55.2%, a peer-leading level [7] Business Line Performance - Consumer loan growth of $299 million, led by residential mortgage originations [14] - Commercial loans and leases grew $93 million linked quarter [14] - Non-interest income reached an all-time high of $89.7 million, driven by capital markets and mortgage banking [18] - Mortgage banking income decreased $1.4 million due to MSR impairment [19] Market Performance - Gained market share in multiple MSAs, ranking 2 in traditional retail deposit share in Pittsburgh [4] - Grew or maintained deposits in nearly 90% of MSAs over the past year, ranking in the top 5 in nearly 50% of MSAs across seven states [23] - Double-digit deposit growth in the Carolinas and strong performance in central Pennsylvania and Pittsburgh [82][83] Strategy and Industry Competition - Focus on being customers' primary operating bank through digital tools, clicks-to-bricks strategy, and product bundling [6] - Diversifying revenue streams and expanding capital markets business [7] - Proactive credit risk management with comprehensive stress testing and underwriting guidelines [8][11] - Maintaining a conservative approach to M&A, focusing on in-market acquisitions with cost savings and immediate earnings accretion [51][52] Management Commentary on Operating Environment and Outlook - Expects loan demand to pick up post-election, particularly in C&I lending [32] - Anticipates continued deposit growth and stable loan-to-deposit ratio in Q4 [15] - Guidance for Q4 includes mid-single-digit loan and deposit growth, non-interest income of $85-90 million, and non-interest expense of $225-235 million [21] - Expects deposit beta of 15% by year-end, with potential to outperform [29] Other Important Information - Completed a $431 million indirect auto loan sale to improve capital and loan-to-deposit ratio [4][13] - Increased marketing expenses by $2 million to support deposit initiatives [7] - Recognized as one of Times World's Best Companies and Newsweek's America's Most Admired Workplaces [24] Q&A Summary Deposit Growth and Pricing - New deposit inflows averaged 4.25%, with flexibility to reduce rates as market conditions change [26] - Expects deposit beta of 15% by year-end, with potential to outperform [29] Loan Growth and Portfolio Management - Indirect auto loan sale was not a credit play but a balance sheet management strategy [30][31] - Expects mid-single-digit loan growth for the full year, with potential for acceleration in 2025 [41][42] Expense Management - Q3 operating expenses of $234 million were driven by marketing and strategic hiring [36] - Expects Q4 expenses to be lower sequentially, with ongoing cost-saving initiatives for 2025 [37] Credit Quality - Credit metrics remained stable, with net charge-offs at 25 bps and criticized loans down 22 bps linked quarter [9] - Proactive credit risk management and stress testing support portfolio stability [11][58] Margin and Interest Rate Sensitivity - Expects flattish margin in Q4, with potential for improvement as rates stabilize [56] - Moving towards a more neutral interest rate position, with flexibility to reprice liabilities [77] M&A and Capital Deployment - Focused on in-market acquisitions with cost savings and immediate earnings accretion [51][52] - Capital levels at all-time highs, providing flexibility for shareholder value creation [20]