FNB(US:FNB)2022-07-21 16:55Financial Performance - Earnings per diluted common share were $030, and operating earnings per diluted share (non-GAAP) were $031[15] - Record revenue totaled $336 million, a 75% linked-quarter increase, with net interest income up 84% linked-quarter[16] - Pre-provision net revenue (non-GAAP) reached $1451 million, a $273 million or 232% increase compared to Q1 2022, and a $173 million or 135% increase compared to Q2 2021[16] - The efficiency ratio improved to 552% from 607% in the first quarter of 2022[16] Loan and Deposit Growth - Total loans and leases (period-end), excluding PPP (non-GAAP), increased by $13 billion, or 195% annualized, linked-quarter[15] - Commercial loans and leases increased by $5039 million, or 116% annualized[15] - Consumer loans increased by $7950 million, or 344% annualized[15] - Total loans and leases, excluding PPP and Howard, increased by $26 billion, or 112%, since June 30, 2021[19] - Total deposits increased 105% year-over-year, with transaction deposits up 128%[21] Asset Quality - The annualized net charge-offs/(recoveries) to total average loans ratio was (001)%, compared to 003% linked-quarter[17] - Delinquency rate decreased to 058% from 066% in the previous quarter and 075% in the second quarter of the previous year[20] - Non-performing loans plus OREO as a percentage of total loans and leases plus OREO decreased to 035% from 040% in the previous quarter and 054% in the second quarter of the previous year[20] Balance Sheet and Revenue - Securities averaged $7070 million, a 146% year-over-year increase[21] - Total loans averaged $27245 million, a 73% year-over-year increase[21] - Net interest income increased 113% year-over-year, driven by growth in average earning assets and rising interest rates[22]