F.N.B. (FNB) investor relations material

Executive summary

• Net income available to common shareholders reached $130.7M ($0.36/share), up both sequentially and year-over-year, with record revenues driven by growth in net interest and non-interest income.

• Pre-provision net revenue rose 16% sequentially to $192M, reflecting strong core operating performance.

• Average loans and deposits grew 5.3% and 1.7% annualized, respectively, with continued organic growth and digital innovation.

• Asset quality improved, with non-performing loans and OREO at 0.34% of total loans, and net charge-offs at 0.25% annualized.

• Capital base at record levels, with CET1 ratio at 10.8% and tangible book value per share up 13% year-over-year.

Financial highlights

• Total revenue was $438M, up 6.5% sequentially; net interest income reached $347.2M, up 9.9% year-over-year; non-interest income hit a record $91M.

• Net interest margin expanded 16 bps sequentially to 3.19%.

• Non-interest expense was $246.2M, up 8.7% year-over-year, mainly due to technology investments and DOJ-related costs.

• Efficiency ratio improved to 54.8% from 58.5% in the prior quarter.

• Allowance for credit losses to total loans was 1.25%; net charge-offs annualized at 0.25%.

Outlook and guidance

• Maintaining mid-single digit full-year loan and deposit growth guidance, with net interest income expected at $1.37B–$1.39B and non-interest income at $355M–$365M for FY 2025.

• Non-interest expense projected at $975M–$985M; provision expense guidance lowered to $85M–$100M.

• Management expects continued solid credit quality, stable loan-to-deposit ratios, and robust capital positions.

• Ongoing investments in technology and risk management to support future growth.

• Effective tax rate anticipated at 21–22% for 2025.