Crispr Therapeutics shares tumble after significant earnings miss
PITTSBURGH - F.N.B. Corporation (NYSE:FNB) reported first quarter earnings that beat analyst expectations, sending shares up 2.5% in after-hours trading.
The regional bank posted earnings per share of $0.32, surpassing the consensus estimate of $0.30. Revenue came in at $411.61 million, also topping forecasts of $410.22 million.
Net interest income grew 1.5% year-over-year to $323.8 million, driven by a 5.1% increase in total loans and leases. The net interest margin remained stable at 3.03% compared to the previous quarter.
"F.N.B. Corporation’s first quarter earnings per diluted common share totaled $0.32 with positive momentum on several key metrics," said Chairman, President and CEO Vincent J. Delie, Jr. He highlighted 12.3% growth in tangible book value per share to $10.83 and a record CET1 regulatory capital ratio of 10.7%.
Total (EPA:TTEF) deposits rose 7.2% YoY to $37.2 billion. The loan-to-deposit ratio stood at 92% at quarter-end, compared to 94% a year ago.
Asset quality remained solid, with non-performing loans to total loans and leases holding steady at 0.47%. Net charge-offs were 0.15% of average loans annualized.
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