F.N.B. reports Q3 non-GAAP EPS 34c, consensus 35c

Q3 net interest margin remained stable with a 1 basis point decline to 3.08% from the prior quarter. “FNB‘s Q3 non-GAAP operating earnings per diluted common share totaled 34c with significant tangible book value per share growth of 15% year-over-year to a record $10.33, strong sequential annualized revenue growth of 9% with record non-interest income of $90M, and a solid operating return on average tangible common equity of 14%,” said CEO Vincent Delie, Jr. “FNB’s robust linked-quarter deposit growth of $1.8B, or 5%, highlights our ability to leverage our significant client relationships, digital and data analytics capabilities as part of our Clicks to Bricks strategy and our diverse geographic footprint to manage the loan-to-deposit ratio which improved nearly 500 basis points from last quarter to 91.7%. FNB’s capital levels reached all-time highs with tangible common equity ratio at 8.2% and CET1 ratio at 10.4%. Our credit metrics ended the quarter at solid levels with the reserve coverage ratio up slightly given our proactive approach to credit risk management. FNB is well-positioned to continue execution of our proven strategies for ongoing success.”