F.N.B. Corporation reported a net income of $137 million, or $0.38 per diluted share, for the first quarter of 2026, reflecting a 17.6% increase from the $116.5 million, or $0.32 per diluted share, recorded in the same period last year. The company's net interest income rose to $359.3 million, a 10.9% increase from the previous year, driven by growth in average earning assets and a reduction in interest-bearing deposit costs. The net interest margin improved by 22 basis points to 3.25%, primarily due to a decrease in the cost of funds, which fell by 31 basis points to 2.01%.

In terms of operational metrics, F.N.B. Corporation's total revenue for the quarter reached $450.3 million, up 9.4% year-over-year, supported by solid non-interest income generation, which totaled $91 million, an increase of 3.7% from the prior year. The provision for credit losses was $18.5 million, slightly higher than the $17.5 million recorded in the same quarter of 2025, with net charge-offs amounting to $15.9 million, or 0.18% of total average loans. The allowance for credit losses on loans and leases increased to $443 million, representing 1.26% of total loans.

F.N.B. Corporation's total assets grew to $50.6 billion as of March 31, 2026, up from $50.2 billion at the end of 2025. The company reported total deposits of $38.9 billion, a modest increase of 0.4% from the previous quarter, with non-interest-bearing demand deposits comprising 26% of total deposits. The loan-to-deposit ratio stood at 90.3%, reflecting a slight increase from 89.7% at the end of 2025. The company also maintained a strong capital position, with a common equity tier 1 (CET1) capital ratio of 11.4%, consistent with regulatory requirements.

Strategically, F.N.B. Corporation has been active in managing its capital and liquidity. In April 2026, the Board of Directors authorized a new share repurchase program with a total capacity of approximately $300 million, following the repurchase of $35 million worth of shares in the first quarter. The company also declared an 8% increase in its quarterly cash dividend to $0.13 per share, reflecting its commitment to returning value to shareholders. Looking ahead, F.N.B. Corporation remains focused on leveraging its strong financial performance and risk management framework to support growth and enhance shareholder value.

About FNB CORP/PA/

F.N.B. Corporation is a diversified financial holding company providing banking, wealth management, and insurance services. Through its subsidiaries, it serves consumers, small- to medium-sized businesses, and institutions across multiple states. Its core offerings include community banking, trust and investment management, and insurance brokerage, emphasizing community orientation, technological innovation, and strong regulatory compliance to deliver tailored financial solutions.

This description was generated via AI from an annual report. Updated 8 months ago.

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