Welcome to our dedicated page for F.N.B. news (Ticker: FNB), a resource for investors and traders seeking the latest updates and insights on F.N.B. stock.
F.N.B. Corporation (NYSE: FNB), headquartered in Pittsburgh, Pennsylvania, is a leading diversified financial services company operating across seven states and the District of Columbia. With a robust presence in key metropolitan areas such as Pittsburgh, Baltimore, Cleveland, and Charlotte, F.N.B. boasts total assets exceeding $45 billion and approximately 350 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, South Carolina, Washington, D.C., and Virginia.
F.N.B. provides an extensive suite of financial services primarily through its largest affiliate, First National Bank of Pennsylvania, which was founded in 1864. The company operates through three main business segments: Community Banking, Wealth Management, and Insurance. The Community Banking segment generates the majority of FNB's revenue, offering a full range of commercial and consumer banking services including corporate banking, small business banking, investment real estate financing, business credit, capital markets, mortgage lending, and online banking solutions.
Notably, F.N.B. holds a top retail deposit market share in major areas like Pittsburgh, Baltimore, and Cleveland. The corporation's recent achievements include a significant increase in net income available to common stockholders, robust loan and deposit growth, and a reinforced capital position. F.N.B. has also been proactive in enhancing its digital capabilities, as exemplified by the launch of the FNB eStore® Common account application, which allows consumers to apply for both loan and deposit products simultaneously.
Financially, F.N.B. has reported impressive figures, such as net income available to common stockholders of $140.4 million in Q2 2023 and $143.3 million in Q3 2023. The company's net interest income and net interest margin (FTE) have shown positive trends, driven by higher yields on loans and investment securities. The corporation remains committed to maintaining a strong balance sheet, with key capital ratios and liquidity metrics reflecting its prudent risk management approach.
F.N.B. continues to invest in technology and data science to enhance customer experience and operational efficiency. The company's strategic initiatives, such as the expansion of its digital platform and ongoing investments in AI, are designed to drive market share growth and deliver long-term shareholder value.
F.N.B. Corporation (NYSE: FNB) announced its banking subsidiary, First National Bank of Pennsylvania, received an Outstanding Community Reinvestment Act (CRA) rating from the Office of the Comptroller of the Currency for 2018-2020. This rating reflects FNB's success in meeting the credit needs of low- and moderate-income individuals. Notably, FNB is among less than 10% of banks rated Outstanding. The evaluation highlighted FNB's innovative lending practices, community development loans, and significant investments aimed at supporting underserved communities.
F.N.B. Corporation (NYSE: FNB) announced its eStyle no-overdraft checking account has received National Bank On certification from the Cities for Financial Empowerment Fund. This certification highlights its affordability and consumer safety, joining over 150 certified accounts nationwide. The eStyle Account features no overdraft fees, low costs, and essential banking capabilities. FNB aims to bridge banking access gaps for underbanked consumers while enhancing its financial education programs and expanding its ATM network in key urban markets, further strengthening its community commitment.
F.N.B. Corporation (NYSE: FNB) has integrated its eStore shopping tool into the FNB Direct mobile app, enhancing digital banking capabilities. This upgrade includes a user-friendly design, allowing customers to conduct transactions, shop for financial products, and schedule consultations with bankers. Customers can now apply for various loans online, with 61% of mortgage applications submitted digitally since the launch of the digital mortgage experience. The company aims to improve efficiency and customer experience through these innovations.
F.N.B. Corporation (NYSE: FNB) has received all necessary regulatory approvals for its merger with Howard Bancorp, Inc. (NASDAQ: HBMD), including from the Federal Reserve and other financial regulatory bodies. The merger is expected to enhance FNB's market position in the Mid-Atlantic region, ranking sixth in deposit share in Baltimore. FNB anticipates a 4% accretion to earnings per share and minimal impact on tangible book value. The merger requires approval from Howard's shareholders, with a vote scheduled for November 9, 2021. The exchange ratio for Howard stockholders is fixed at 1.8 shares of FNB common stock for each share of Howard.
F.N.B. Corporation (NYSE: FNB) announced a quarterly cash dividend of $18.13 per share on its Non-Cumulative Perpetual Preferred Stock, Series E (FNB.PRE). This dividend is slated for payment on November 15, 2021, to shareholders on record by the close of business on October 29, 2021.
The company operates over 330 banking offices across several states and has total assets exceeding $39 billion. FNB is part of the S&P MidCap 400 Index, reinforcing its position as a key player in the regional banking sector.
F.N.B. Corporation (NYSE: FNB) reported a third quarter 2021 net income of $109.5 million, or $0.34 per diluted share, up from $80.8 million in Q3 2020. The total revenue reached a record $321 million, a 4.6% increase year-over-year. The operating net income was $110.2 million, a 29.0% rise. Key metrics included a return on tangible equity of 17% and an increase in tangible book value per share to $8.42. Notably, non-interest income saw an 11.0% increase due to growth in capital markets and wealth management.
F.N.B. Corporation (NYSE: FNB) has announced a quarterly cash dividend of $0.12 per share, payable on December 15, 2021. Shareholders must be on record by the close of business on December 3, 2021. Headquartered in Pittsburgh, FNB operates in seven states and the District of Columbia, boasting total assets exceeding $38 billion and nearly 340 banking offices. The bank provides comprehensive commercial and consumer banking solutions, as well as wealth management services.
F.N.B. Corporation (NYSE: FNB) is set to release its third-quarter 2021 financial results after market close on October 18, 2021. A conference call with CEO Vincent J. Delie, Jr. and CFO Vincent J. Calabrese, Jr. is scheduled for October 19, 2021, at 8:30 AM ET to discuss the results. Pre-registration is encouraged for immediate access. The corporation, based in Pittsburgh, operates across seven states and D.C., with total assets exceeding $38 billion and nearly 340 banking offices.
F.N.B. Corporation (NYSE: FNB) has made an initial payment of nearly $7.2 million to the Greater Hill District Reinvestment Fund, aimed at community development. This funding is part of an innovative financing solution tied to the FNB Financial Center project and is designed to have an immediate impact on the Hill District. The project is projected to catalyze significant economic expansion, creating over 1,000 jobs and involving substantial investments, exceeding $200 million in total. Completion of the FNB Financial Center is anticipated in 2023.
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