F.N.B. (FNB) Q1 2025 earnings summary

Executive summary

• Net income available to common shareholders was $116.5 million ($0.32 per diluted share), flat year-over-year and up from $109.9 million in Q4 2024, with total revenue of $411.6 million for Q1 2025.

• Tangible book value per share grew 12.3% year-over-year to $10.83; CET1 ratio reached a record 10.7%.

• Annualized loan and deposit growth were 3.5% and 1.4%, respectively, in a seasonally slow quarter, reflecting successful digital and customer experience strategies.

• Asset quality remained strong with net charge-offs at 0.15% annualized and provision for credit losses down from Q4 2024.

• Repurchased 0.7 million shares at $13.48 average price while maintaining strong capital levels.

Financial highlights

• Net interest income was $323.8 million, up 1.5% year-over-year and 0.5% sequentially, with a stable net interest margin of 3.03%.

• Non-interest income was $87.8 million, flat year-over-year, with record wealth management revenues of $21.2 million.

• Non-interest expense increased 4.1% year-over-year to $246.8 million, mainly due to higher salaries, technology, and risk management costs.

• Efficiency ratio (non-GAAP) was 58.5%, up from 56.0% a year ago.

• Book value per share was $17.86, up from $17.52 in Q4 2024 and $16.71 in Q1 2024.

Outlook and guidance

• Full-year 2025 guidance maintained: mid-single-digit growth in loans and deposits, net interest income of $1.345–$1.385 billion, and non-interest income of $350–$370 million.

• Non-interest expense guidance is $965–$985 million for FY 2025; effective tax rate projected at 21–22%.

• Management remains prepared for a broad range of economic scenarios, citing strong capital, liquidity, and risk management.

• Continued focus on technology, digital banking, and customer primacy to drive growth.

• Ongoing monitoring of macroeconomic and trade policy risks, including new tariffs and potential impacts on credit quality.