F.N.B. Corporation Reports Third Quarter 2025 Earnings

Core Insights - F.N.B. Corporation reported a record earnings per diluted common share of $0.41, marking a 37% increase year-over-year and a 14% increase from the previous quarter, driven by record revenue of $457 million [1][3] - The company achieved a tangible book value per common share growth of 11% year-over-year, with a Common Equity Tier 1 (CET1) regulatory capital ratio estimated at 11% [3][15] Financial Performance - Net income available to common shareholders for Q3 2025 was $149.5 million, compared to $110.1 million in Q3 2024 and $130.7 million in Q2 2025 [1][4] - Operating earnings per diluted common share (non-GAAP) for Q3 2025 was $0.41, up from $0.34 in Q3 2024 [2][4] - Pre-provision net revenue (non-GAAP) grew 11% linked-quarter to $213.9 million, contributing to a peer-leading efficiency ratio of 52% [3][4] Revenue Breakdown - Net interest income reached a record $359.3 million, an increase of $35.9 million or 11.1% year-over-year, primarily due to growth in earning assets and lower interest-bearing deposit costs [8][17] - Non-interest income also set a record at $98.2 million, reflecting a 7.9% increase from the prior quarter, driven by strong performance in mortgage banking and capital markets [11][20] Asset Quality and Credit Management - The provision for credit losses was $24.0 million, with net charge-offs of $19.7 million, or 0.22% annualized of total average loans, indicating effective credit risk management [14][22] - The ratio of non-performing loans and other real estate owned (OREO) to total loans and OREO increased slightly to 0.37%, while total delinquency rose to 0.65% [13][22] Capital and Shareholder Returns - The tangible book value per common share (non-GAAP) was $11.48, an increase of $1.15 or 11.1% from the previous year [15][23] - During Q3 2025, the company repurchased $12 million worth of common stock, maintaining capital levels above operational requirements [6][15]