F.N.B. reports Q2 non-GAAP EPS 34c, consensus 34c

On an operating basis, Q2 pre-provision net revenue totaled $178.0M, a 3.0% increase from the prior quarter. “Through the continued execution of our disciplined business model, F.N.B. Corporation produced solid Q2 results with non-GAAP EPS totaling 34 . Pre-provision net revenue (non-GAAP) increased over 4%, on a linked-quarter basis, supported by our well-managed expenses and continued strong non-interest income levels. Tangible book value per share grew 12% year-over-year to reach a record high at $9.88,” said CEO Vincent Delie, Jr. “FNB‘s linked-quarter loan and deposit growth of 3.6% and 0.7%, respectively, including non-interest-bearing deposits growth of 0.8%, demonstrates our ability to execute on our strategy to steadily increase market share by leveraging our investments in eStore and our experienced banking teams. FNB’s capital position remained strong as we were able to support robust loan growth and maintain the tangible common equity ratio near 8% and CET1 ratio at 10.2%. Our comprehensive approach to credit risk management has led to strong and stable asset quality results with NPLs and OREO ending at 0.33%, a multiyear low, and net charge-offs at a very solid 0.09%. We remain well-positioned for a better rate environment as we move into 2025.”