PITTSBURGH, Pa. – F.N.B. Corp., the parent company of First National Bank, on Thursday reported net income of $149.5 million, or 41 cents per diluted common share, available to common stockholders in the third quarter.
The net income rose $39.4 million from a year ago and $18.8 million from the second quarter.
“F.N.B. Corp. reported record earnings per diluted common share of [41 cents], a 37% increase from the year-ago quarter and 14% increase from the prior quarter, with revenue of $457 million principally driven by growth in net interest income, margin expansion and record noninterest income,” Vincent J. Delie Jr., chairman, president and CEO of F.N.B. Corp., said in a statement.
Delie added that the company’s “performance is supported by our consistent underwriting standards and proactive credit risk management actions, which led to continued solid credit results for the quarter, and by our technology investments.”
Average loans and leases in the third quarter totaled $34.8 billion, a $1 billion increase from the third quarter of 2024, boosted primarily by consumer loan growth of $994.7 million.
Average deposits totaled $37.9 billion, an increase of $2.3 billion from the third quarter of 2024. While average savings deposits declined by $155.9, F.N.B. saw growth in average interest-bearing demand deposits of $2.1 billion, average time deposits of $261.3 million and average noninterest-bearing demand deposits of $38.2 million.
On a linked-quarter basis, average loans and leases increased by 3.6% annualized, and average deposits increased 8.2% annualized.
F.N.B. reported that net interest income totaled a record $359.3 million, a 3.5% increase from the previous quarter. Noninterest income also set a record at $98.2 million, a 7.9% increase from the prior quarter.
The full report can be viewed HERE.