PITTSBURGH, Pa. – F.N.B. Corp., the parent company of First National Bank, on Wednesday reported fourth quarter net income of $109.9 million, or 30 cents per diluted common share, available to common stockholders. 

That was down slightly from the third quarter’s $110.1 million, or 30 cents per diluted common share.

For the full year of 2024, net income available to common stockholders was $459.3 million, or $1.27 per diluted common share, down from $476.8 million, or $1.31 per diluted common share, in 2023.

“F.N.B. benefited from its geographic footprint, investments in technology, strong balance sheet and high caliber front-line bankers to generate year-over-year loan growth of 5% and robust deposit growth of 6.9%,” said Vincent J. Delie Jr., F.N.B. Corp. chairman, president and CEO.

“We will continue to build on our momentum in 2025 with our expectation for strong revenue growth and a return to positive operating leverage,” Delie said.

Here are some fourth quarter highlights:

  • Period-end total loans and leases increased $1.6 billion, or 5%. Consumer loans increased $949 million, or 8%, even with a $431 million indirect auto loan sale that closed in September 2024, and commercial loans and leases increased $667.2 million, or 3.3%.
  • On a linked-quarter basis, period-end total loans and leases increased $221 million, or 0.7%, with an increase in consumer loans of $239.8 million, partially offset by a slight decrease in commercial loans and leases of $18.2 million.
  • Period-end total deposits increased $2.4 billion, or 6.9%, driven by an increase of $1.9 billion in interest-bearing demand deposits and $1.3 billion in shorter-term time deposits, offsetting the decline of $461.3 million in noninterest-bearing demand deposits and $286.7 million in savings deposits as customers continued to opt for higher-yielding deposit products.
  • On a linked-quarter basis, period-end total deposits increased $336.2 million, or 0.9%, with increases in interest-bearing demand deposits of $669.1 million more than offsetting the decline in shorter-term time deposits of $170.7 million, noninterest-bearing demand deposits of $109.4 million and savings deposits of $52.8 million. The ratio of noninterest-bearing demand deposits to total deposits was 26% at Dec. 31, 2024, compared with 27% at the prior quarter end.
  • The loan-to-deposit ratio was 91% at Dec. 31, 2024, compared with 92% at Sept. 30, 2024, and 93% at Dec. 31, 2023.

The full report is available HERE.