F.N.B. (FNB) Q3 2025 earnings summary

Executive summary

• Net income available to common shareholders for Q3 2025 was $149.5 million ($0.41 per diluted share), up 37% year-over-year, with record total revenue of $457 million driven by growth in net interest income, margin expansion, and record non-interest income.

• Pre-provision net revenue grew 11% sequentially, with a peer-leading efficiency ratio of 52%, and capital levels reached all-time highs (CET1 ratio 11.1%).

• Tangible book value per share increased 11% year-over-year to $11.48, and return on average tangible common equity was 15%.

• Average total loans and leases grew 3.6% annualized linked quarter, and average total deposits increased 8.2% annualized linked quarter, with a stable deposit mix.

• Active share repurchase and dividends returned $162 million to shareholders year-to-date, including $12 million repurchased in Q3 2025.

Financial highlights

• Net interest income reached $359.3 million, up 11.1% year-over-year and 3.5% sequentially, with net interest margin (FTE, non-GAAP) at 3.25%.

• Non-interest income hit a record $98.2 million, up 9.5% year-over-year and 7.9% sequentially, led by mortgage banking and capital markets.

• Non-interest expense was $243.5 million, down 2.4% year-over-year and 1.1% sequentially.

• Provision for credit losses was $24.0 million, with net charge-offs of $19.7 million (0.22% annualized of average loans).

• Efficiency ratio improved to 52.4% from 54.8% in the prior quarter.

Outlook and guidance

• FY 2025 guidance targets mid-single digit growth in spot loans and deposits, with net interest income expected between $1.390–$1.405 billion.

• Non-interest income projected at $365–$370 million; provision expense $85–$95 million; non-interest expense $975–$985 million.

• Efficiency ratio expected to continue improving, with positive operating leverage targeted for 2025 and beyond.

• Management highlighted continued investments in digital capabilities, data analytics, and AI to drive household penetration and client acquisition.

• Effective tax rate anticipated at 21–22%.