Company profile

Ticker
FNB
Exchange
CEO
Vincent J. Delie
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
Former names
FNB Corp, FNB Corp
SEC CIK
IRS number
251255406

FNB stock data

(
)

Calendar

7 Nov 19
10 Dec 19
31 Dec 19

News

Company financial data Financial data

Quarter (USD) Sep 19 Jun 19 Mar 19 Dec 18
Net income 103M 95M 94M 100M
Diluted EPS 0.31 0.29 0.28 0.3
Net change in cash 110M 2M 9M 50.15M
Cash on hand 609M 499M 497M 488M
Annual (USD) Dec 18 Dec 17 Dec 16 Dec 15
Net income 373M 199M 171M 159.65M
Diluted EPS 1.12 0.63 0.78 0.86
Net change in cash 9M 108M -118M 201.61M
Cash on hand 488M 479M 371M 489M

Financial data from FNB earnings reports

Financial report summary

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Management Discussion
  • Net income available to common stockholders for the three months ended September 30, 2019 was $100.7 million or $0.31 per diluted common share, compared to net income available to common stockholders for the three months ended September 30, 2018 of $98.8 million or $0.30 per diluted common share. The third quarter of 2018 included a $5.1 million gain recognized from the sale of Regency.
  • Net interest income on an FTE basis (non-GAAP) decreased $4.9 million, or 2.0%, from $238.2 million for the third quarter of 2018 to $233.3 million for the third quarter of 2019. Average interest-earning assets of $29.3 billion increased $1.1 billion, or 3.9%, and average interest-bearing liabilities of $22.5 billion increased $0.8 billion, or 3.8%, from 2018, due to organic growth in loans and deposits. Our net interest margin FTE (non-GAAP) was 3.17% for the third quarter of 2019, compared to 3.36% for the same period of 2018, reflecting a 19 basis point decrease primarily related to the sale of Regency in the third quarter of 2018 and funding cost impacts from the interest rate environment. Regency contributed $5.6 million, or 8 basis points to the net interest margin in the third quarter of 2018. The third quarter of 2019 included $8.1 million of incremental purchase accounting accretion and $0.6 million of cash recoveries, compared to $5.9 million and $1.5 million, respectively, in the third quarter of 2018. The FOMC cut the target Fed Funds rate by 25 basis points in both July and September 2019. In 2018, the FOMC increased the target Fed Funds rate by 75 basis points between March 31, 2018 and September 30, 2018.
  • Interest income on an FTE basis (non-GAAP) of $317.9 million for the third quarter of 2019, increased $16.7 million or 5.6% from the same quarter of 2018, primarily due to increased interest-earning assets of $1.1 billion. The increase in interest-earning assets was primarily driven by a $1.0 billion, or 4.4%, increase in average loans and leases, which reflects solid growth in the commercial and consumer loan portfolios, partially offset by the sale of Regency. Average commercial loan growth totaled $789.0 million, or 5.8%, led by strong commercial activity in the Pittsburgh, Cleveland, Charlotte and Mid-Atlantic (Greater Baltimore-Washington D.C. markets) regions and continued growth in the equipment finance and asset-based lending businesses. Average consumer loan growth was $163.5 million, or 2.0%, as growth in indirect auto loans of $126.5 million, or 6.9%, and residential mortgage loans of $269.4 million, or 9.2%, was partially offset by declines in average direct installment loans of $97.5 million, or 5.3% and consumer lines of credit of $135.3 million, or 8.3% and the sale of Regency. Additionally, average securities decreased $70.0 million, or 1.1%, due to higher loan growth in 2019. The yield on average interest-earning
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