FNB Expands Public Finance Capabilities with Municipal Bond Underwriting

Rhea-AI Summary

FNB (NYSE: FNB) has added municipal bond underwriting and tax-exempt financing to its Capital Markets offerings, expanding services for municipalities, school districts, counties, special districts and not-for-profits.

The service is delivered via FNB America Securities LLC and leverages analytics, market intelligence and prior investment banking capabilities, including the April 2025 acquisition of Raptor Partners.

Positive

• Adds municipal bond underwriting to Capital Markets offerings
• FNB America Securities LLC to deliver public finance solutions
• Leverages advanced data and market intelligence for competitive pricing
• April 2025 acquisition of Raptor Partners strengthens investment banking

Negative

• None.

News Market Reaction – FNB

+0.30%

+0.30% News Effect

On the day this news was published, FNB gained 0.30%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement adds municipal bond underwriting to FNB’s Capital Markets platform, broadening ser...

Analysis

This announcement adds municipal bond underwriting to FNB’s Capital Markets platform, broadening services for municipal clients and complementing prior moves like the Raptor Partners acquisition. It highlights an emphasis on fee-based products and advisory capabilities for governments and institutions. In context of recent earnings strength and strategic partnerships, investors may focus on how effectively FNB converts this expanded toolkit into incremental, diversified revenue while managing credit, interest rate, and execution risks across its regional banking footprint.

Historical Context

5 past events · Latest: Mar 20 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Mar 20	University partnership	Positive	+0.0%	Named Penn State’s exclusive provider for retail banking and financial services.
Mar 10	Digital product expansion	Positive	-0.6%	Expanded eStore Common application to include business loan products.
Feb 26	Awards and recognition	Positive	+0.9%	Received 14 Coalition Greenwich awards and recognition from TIME.
Jan 27	Dividend declaration	Positive	+0.3%	Declared a quarterly cash dividend of $0.12 per common share.
Jan 20	Earnings report	Positive	+2.9%	Reported strong Q4 and full-year 2025 earnings with record revenue and capital metrics.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent corporate and strategic announcements have generally coincided with modestly positive or flat price reactions, with only one divergence on otherwise positive digital expansion news.

Recent Company History

Over the past few months, FNB has reported several business-building milestones and solid financial performance. A Jan 20, 2026 earnings release highlighted record 2025 results and drew a +2.9% next-day move. A Jan 27 dividend declaration and a Feb 26 awards announcement also saw positive but smaller reactions. More recently, digital eStore enhancements on Mar 10 led to a slight decline, while the Mar 20 Penn State banking partnership produced a flat move, suggesting the market often reacts moderately to FNB’s growth updates.

Key Terms

municipal bond underwriting, tax-exempt financing, securities issuance, capital markets, +4 more

8 terms

municipal bond underwriting financial

"it has expanded its public finance offerings with municipal bond underwriting."

Municipal bond underwriting is the transaction where a financial firm arranges and often buys newly issued local government or public project bonds, then resells them to investors. It matters to investors because the underwriter sets the initial price, absorbs the risk of unsold bonds, and influences how widely the bonds are distributed and how much in fees and yield investors receive—think of the underwriter as a ticket seller who helps set the price and reach of a new event.

tax-exempt financing financial

"municipal bond underwriting and tax-exempt financing enhance FNB's ability to serve its municipal clients"

Loans or bonds issued by governments or qualified nonprofit entities where the interest income is exempt from federal income tax, and sometimes state or local tax. For investors this changes the value of the stated interest rate — like receiving a lower-priced item because sales tax is waived — so buyers compare after-tax returns, credit quality, and tax rules rather than nominal yields when deciding whether the investment is attractive.

securities issuance financial

"guide clients through the securities issuance process, including structuring, investor solicitation"

Securities issuance is the process of a company or organization creating and selling financial assets, such as stocks or bonds, to raise money from investors. This allows investors to buy a piece of the organization’s future profits or debt obligations. It matters because it provides funds for growth and operations, and offers investors opportunities to earn returns based on the success of the issuer.

capital markets financial

"under the Bank's Capital Markets umbrella, the latest addition further solidifies"

Capital markets are places where people and organizations buy and sell long-term investments like stocks and bonds. They help connect those who need money to grow or fund projects with investors looking to earn returns over time. For investors, capital markets are important because they offer opportunities to invest, save, and grow their wealth through a variety of financial assets.

broker-dealer financial

"delivered through FNB's broker-dealer subsidiary, FNB America Securities LLC"

A broker-dealer is a licensed firm or individual that both executes trades on behalf of clients (acting as a broker) and buys or sells securities for its own account (acting as a dealer). Investors care because broker-dealers provide the plumbing of markets — they place orders, hold or move cash and securities, offer research or advice, and their stability and fees directly affect trade execution, costs, and the safety of client funds; think of them as a combined travel agent and taxi for your investments.

mezzanine financing financial

"The Capital Markets group includes several other teams managing various products and services:Interest rate and commodity hedgingA debt capital markets function ... Investment bankingMezzanine financing"

Mezzanine financing is a hybrid form of capital that sits between a company’s senior loan and its ownership, typically structured as a subordinated loan or convertible instrument that pays higher interest and may include rights to convert into equity. Think of it like a second mortgage or a booster seat: it carries more risk than the main loan but is less permanent than selling shares. It matters to investors because it can boost returns for lenders, increase a company’s debt burden, and potentially dilute equity if converted, influencing risk and reward.

loan syndications financial

"A debt capital markets function that leads and participates in loan syndications and bond offerings"

A loan syndication is when several banks or investors pool money to provide a single large loan, so no one lender carries the whole amount. Think of it like a group of people chipping in to buy a house together: it lets borrowers access bigger funds while spreading risk and fees across the group. Investors care because syndications affect credit exposure, potential returns from interest and fees, and the ease of trading or selling loan stakes in the market.

foreign exchange financial

"International banking services that include foreign exchange and hedging solutions"

Foreign exchange is the process of swapping one country's money for another’s, like exchanging dollars for euros when traveling. It matters because it determines how much your money is worth in another country, affecting prices, investments, and international trade. This system helps businesses and governments buy and sell across borders smoothly.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Comprehensive Capital Markets Offerings Enhance Existing Client Relationships, Create New Opportunities for Growth

PITTSBURGH, March 26, 2026 /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) announced today that it has expanded its public finance offerings with municipal bond underwriting. Building on the robust suite of products and solutions provided under the Bank's Capital Markets umbrella, the latest addition further solidifies FNB's standing as an elite commercial bank with expansive capabilities.

Additionally, municipal bond underwriting and tax-exempt financing enhance FNB's ability to serve its municipal clients and prospects with the capital necessary to fulfill their financing needs.

FNB's team will guide clients through the securities issuance process, including structuring, investor solicitation and underwriting. For the issuers, municipal bonds can be advantageous for financing large projects, such as infrastructure upgrades or heavy equipment purchases, over longer terms at relatively low cost. Investors benefit by receiving periodic, federal tax-exempt interest payments before full repayment at the maturity date.

"As we continue to enhance Capital Markets offerings, municipal bond underwriting is a natural addition and reinforces our commitment to serve thousands of customers and prospects who qualify for public financing," said Vincent J. Delie, Jr., Chairman, President and Chief Executive Officer of F.N.B. Corporation and First National Bank. "With our expansive product offering, FNB has positioned itself as a trusted partner and bank of choice for businesses and municipalities throughout our footprint."

The offering is delivered through FNB's broker-dealer subsidiary, FNB America Securities LLC, which develops creative and tailored financing solutions for local governments, school districts, counties, special districts, not-for-profit corporations and other entities. The service also leverages the Company's advanced data collection and analytical capabilities. Using robust market intelligence, the team will underwrite bonds based on current interest rates, comparable deals, and supply and demand dynamics, providing competitive financing for FNB's clients.

Capital Markets Positions FNB for Growth

Municipal bonds are latest in the continued expansion of FNB's Capital Markets capabilities. In April 2025, FNB acquired Raptor Partners, a Pittsburgh-based advisory firm, to bolster its investment banking services for public and private businesses, including guidance related to mergers and acquisitions. The Capital Markets group includes several other teams managing various products and services:

• Interest rate and commodity hedging
• A debt capital markets function that leads and participates in loan syndications and bond offerings for corporate clients
• Investment banking
• Mezzanine financing
• International banking services that include foreign exchange and hedging solutions

About F.N.B. Corporation
F.N.B. Corporation (NYSE: FNB), headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in seven states and the District of Columbia. FNB's market coverage spans several major metropolitan areas, including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington, D.C.; Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina; and Charleston, South Carolina. The Company has total assets of more than $50 billion and over 350 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, South Carolina, Washington, D.C. and Virginia.

FNB provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network, which is led by its largest affiliate, First National Bank of Pennsylvania, founded in 1864. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, government banking, business credit, capital markets and lease financing. The consumer banking segment provides a full line of consumer banking products and services, including deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. FNB's wealth management services include asset management, private banking and insurance.

The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol "FNB" and is included in Standard & Poor's MidCap 400 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Customers, shareholders and investors can learn more about this regional financial institution by visiting the F.N.B. Corporation website at www.fnbcorporation.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/fnb-expands-public-finance-capabilities-with-municipal-bond-underwriting-302726171.html

SOURCE F.N.B. Corporation

FAQ

What did FNB announce on March 26, 2026 about municipal bond underwriting?

FNB announced it has expanded Capital Markets to include municipal bond underwriting and tax-exempt financing. According to the company, the service is offered through FNB America Securities LLC and uses analytics and market intelligence to support issuers and investors.

How will FNB's municipal underwriting affect municipalities and school districts (FNB)?

Municipalities and school districts gain access to underwriting, structuring and investor solicitation services for long-term projects. According to the company, FNB will provide tailored tax-exempt financing and guide issuers through bond issuance and pricing decisions.

Does FNB have the capability to underwrite bonds nationwide after this announcement (FNB)?

FNB positioned the offering to serve local governments, counties, school districts and not-for-profits within its footprint. According to the company, the broker-dealer will use market data and comparable deals to underwrite competitive financings.

What role did the April 2025 Raptor Partners acquisition play in FNB's March 2026 expansion (FNB)?

The April 2025 acquisition of Raptor Partners bolstered FNB's investment banking capabilities ahead of the municipal underwriting launch. According to the company, Raptor Partners strengthens advisory services for public and private clients, including M&A guidance.

How does FNB plan to price municipal bonds and assess investor demand (FNB)?

FNB will underwrite bonds using current interest rates, comparable deals and supply-demand dynamics to set pricing and allocations. According to the company, its team combines robust market intelligence and analytics to deliver competitive financing solutions.