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PITTSBURGH - F.N.B. Corporation (NYSE:FNB) reported record third quarter earnings that exceeded analyst expectations, with earnings per diluted share reaching $0.41, beating the consensus estimate of $0.38. Despite the strong performance, shares edged down 0.2% following the announcement.
The regional bank posted record revenue of $457 million for the quarter, driven by growth in net interest income, margin expansion, and record non-interest income. Net income available to common shareholders totaled $149.5 million, representing a 37% increase from $110.1 million in the same quarter last year.
"F.N.B. Corporation reported record earnings per diluted common share of $0.41, a 37% increase from the year-ago quarter and 14% increase from the prior quarter," said F.N.B. Chairman, President and CEO Vincent J. Delie, Jr.
Net interest income rose to a record $359.3 million, up 11.1% YoY, while the net interest margin improved to 3.25%, an increase of 17 basis points from the prior year. Non-interest income reached a record $98.2 million, up 9.5% from the third quarter of 2024.
Average loans and leases totaled $34.8 billion, increasing 3.0% YoY, primarily driven by consumer loan growth of $994.7 million. Average deposits grew 6.4% to $37.9 billion compared to the same period last year.
The bank maintained solid credit quality with non-performing loans and other real estate owned to total loans at 0.37%, while the allowance for credit losses to total loans remained stable at 1.25%.
F.N.B.’s capital position strengthened, with the Common Equity Tier 1 regulatory capital ratio estimated at 11.0%, up from 10.4% a year ago. Tangible book value per common share increased 11.1% YoY to $11.48.
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