1. FNB's 1Q25 net income increased slightly to $116.5 million. 2. Tangible book value per share rose 12.3% to $10.83. 3. CET1 capital ratio reached a record 10.7%. 4. Net interest income grew by 1.5%, reflecting higher loan volumes. 5. Loan and deposit growth was positive at 3.5% and 1.4%.
The stronger balance sheet metrics, including CET1 and tangible book value growth, enhance FNB's stability. Historically, improvements in these factors have correlated with positive stock performance.
The article presents key financial results impacting investor perception positively. Strong growth in tangible book value and maintained capital ratios signify robust operational health, which is crucial for stakeholders.
Investors are likely to respond positively in the short term to these solid performance indicators. Quick reactions in market sentiment often occur with earnings reports.
PITTSBURGH, April 16, 2025 /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) reported earnings for the first quarter of 2025 with net income available to common shareholders of $116.5 million, or $0.32 per diluted common share. Comparatively, first quarter of 2024 net income available to common shareholders totaled $116.3 million, or $0.32 per diluted common share, and fourth quarter of 2024 net income available to common shareholders totaled $109.9 million, or $0.30 per diluted common share.
On an operating basis, first quarter of 2025 earnings per diluted common share (non-GAAP) was $0.32, with no significant items impacting earnings. By comparison, the first quarter of 2024 was $0.34 per diluted common share (non-GAAP) on an operating basis, excluding $0.02 per diluted common share of significant items impacting earnings, and the fourth quarter of 2024 was $0.38 per diluted common share (non-GAAP) on an operating basis, excluding $0.08 per diluted common share of significant items impacting earnings.
"F.N.B. Corporation's first quarter earnings per diluted common share totaled $0.32 with positive momentum on several key metrics, including tangible book value per share growth (non-GAAP) of 12.3% to $10.83, record CET1 regulatory capital ratio at 10.7% and tangible common equity to tangible assets (non-GAAP) at 8.4%," said F.N.B. Corporation Chairman, President and Chief Executive Officer, Vincent J. Delie, Jr. "During the first quarter, we generated sequential and year-over-year revenue growth with net interest income expansion and solid non-interest income which benefited from the continuous strategic investments made to develop and expand high-value advisory businesses. The first quarter's annualized loan and deposit growth of 3.5% and 1.4%, respectively, in a seasonally slower quarter, demonstrates our successful focus on leveraging our technology and digital banking platform to enhance the customer experience and drive primacy. Our comprehensive and conservative approach to credit risk management has led to strong and stable asset quality with net-charge-offs at a solid 0.15%. FNB remains prepared for a broad range of economic scenarios given our diversified and granular deposit base, consistent and conservative underwriting, solid capital and liquidity levels and sound risk management policies and governance."
(All comparisons refer to the first quarter of 2024, except as noted)
Non-GAAP measures referenced in this release are used by management to measure performance in operating the business that management believes enhances investors' ability to better understand the underlying business performance and trends related to core business activities. Reconciliations of non-GAAP operating measures to the most directly comparable GAAP financial measures are included in the tables at the end of this release. For more information regarding our use of non-GAAP measures, please refer to the discussion herein under the caption, Use of Non-GAAP Financial Measures and Key Performance Indicators.
| 1Q25 | 4Q24 | 1Q24 | |
|---|---|---|---|
| Net income available to common shareholders (millions) | $ 116.5 | $ 109.9 | $ 116.3 |
| Earnings per diluted common share | 0.32 | 0.30 | 0.32 |
| Book value per common share | 17.86 | 17.52 | 16.71 |
| Pre-provision net revenue (non-GAAP) (millions) | 164.8 | 124.9 | 169.8 |
(a) Favorable (unfavorable) impact on earnings.
(b) Estimated for 1Q25.