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) declared a quarterly cash dividend of $0.12 per share, payable on December 15, 2020, to shareholders on record as of December 3, 2020. The corporation, headquartered in Pittsburgh, Pennsylvania, has total assets nearing $38 billion and operates around 350 banking offices across various states including Pennsylvania, Maryland, and North Carolina. FNB provides a full range of financial services through its subsidiary network, focusing on commercial and consumer banking as well as wealth management solutions.
F.N.B. Corporation (NYSE: FNB) will release its third-quarter 2020 financial results on October 19, 2020, at 6:00 PM ET. A conference call hosted by Chairman and CEO Vincent J. Delie, Jr., CFO Vincent J. Calabrese, Jr., and Chief Credit Officer Gary L. Guerrieri will follow on October 20, 2020, at 8:15 AM ET. Pre-registration for the call is encouraged, and the company will provide a replay option until October 27, 2020. F.N.B. operates with total assets nearing $38 billion across multiple states.
F.N.B. Corporation (NYSE: FNB) reported a significant reduction in loan deferrals, with second deferrals totaling $434 million, or 1.8% of total loans as of September 15, 2020, down from $2.4 billion, or 10.3%, on June 30, 2020. The decrease indicates improved loan performance and quality of the customer base, reflecting effective credit risk management and disciplined underwriting practices. The company, with nearly $38 billion in total assets, will provide further insights during the upcoming third quarter earnings call.
On September 10, 2020, F.N.B. Corporation (NYSE: FNB) announced a multi-year partnership with the Pittsburgh Penguins, becoming their Official Retail and Digital Banking Partner. This agreement will enhance F.N.B.'s presence at PPG Paints Arena, featuring the "F.N.B. Club" and "F.N.B. Gate". Fans will have access to banking services, including three ATMs and a digital center with innovative banking technology. Additionally, the partnership introduces co-branded Penguins checking packages and other promotional offerings, aimed at community engagement and enhancing customer experience.
F.N.B. Corporation (NYSE: FNB) announced leadership promotions within F.N.B. Equipment Finance, elevating R. Timothy Evans to President and Donna Yanuzzi to Managing Director of Sales and Marketing, following Gary Cook's retirement after nearly 50 years in finance. With a portfolio nearing $1 billion, Evans brings almost 40 years of experience, while Yanuzzi has over 23 years at FNB. Their combined expertise is expected to drive growth as the company continues to deliver tailored leasing solutions for commercial clients.
F.N.B. Corporation (NYSE: FNB) has been recognized as a Q2 2020 Standout Commercial Bank by Greenwich Associates for its effective response to the COVID-19 pandemic. This honor highlights FNB's commitment to client relations and digital services, with the bank funding $2.6 billion in Paycheck Protection Program loans, aiding nearly 20,000 businesses. FNB's proactive measures included providing loan payment deferrals of $2.4 billion for around 14,800 clients and donating $1 million for COVID-19 relief. The bank has consistently earned accolades for its customer service over the past decade.
F.N.B. Corporation (NYSE: FNB) announced a $100,000 contribution to the Hill District Federal Credit Union to support financial services in Pittsburgh's Hill District, aligning with its $250 million commitment to address economic inequities. This investment aims to enhance the credit union's capacity to provide financial education and services, strengthening community engagement. FNB has a history of supporting economic development and financial literacy initiatives in low- and moderate-income areas.
F.N.B. Corporation reported a net income of $81.6 million for Q2 2020, increasing from $45.4 million in Q1 2020 but down from $93.2 million in Q2 2019. Earnings per diluted share were $0.25. The results reflect the impact of $2.6 billion in loans from the Paycheck Protection Program and $2.0 million in COVID-19-related expenses. Total revenue grew to $306 million, with average loans and deposits increasing 12.5% and 14.3%, respectively. The efficiency ratio improved to 53.7%, while net interest income decreased slightly due to lower interest rates.
F.N.B. Corporation (NYSE: FNB) declared a quarterly cash dividend of $18.13 per share on its Non-Cumulative Perpetual Preferred Stock, Series E (NYSE: FNB.PRE), payable on August 15, 2020. Additionally, a cash dividend of $0.12 per common share is set for payment on September 15, 2020. Shareholders must be on record by July 31, 2020, for the preferred stock and September 4, 2020, for the common stock. F.N.B. operates over 350 banking offices across multiple states, with total assets exceeding $35 billion.
First National Bank, the largest subsidiary of F.N.B. Corporation (NYSE: FNB), appointed Joseph Cartellone as Executive Vice President, Director of Mortgage Services. Based in Pittsburgh, he oversees a division with nearly $3 billion in annual loan production. Cartellone aims to enhance customer experience through new technologies and processes, succeeding David B. Green. With over 32 years of experience, Cartellone previously worked at Chase, PNC, and BBVA Compass. FNB, headquartered in Pittsburgh, operates across seven states with total assets exceeding $35 billion.
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