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 the launch of a new Special Purpose Credit Program (SPCP) aimed at enhancing homeownership and promoting economic equality in majority-minority neighborhoods. The initiative includes up to $3 million in annual closing cost assistance through FNB's affordable mortgage programs. The FNB Homeownership Plus loan offers down payments as low as zero percent, combined with $5,000 in closing cost assistance. Additionally, FNB introduced a home equity solution called FNB Home Equity Plus. These efforts align with FNB's commitment to addressing racial gaps in homeownership, providing broader access to financial resources.
F.N.B. Corporation reported a record revenue of $1.4 billion for 2022, with net income for Q4 2022 at $137.5 million ($0.38 per share), up from $96.5 million in Q4 2021. The efficiency ratio (non-GAAP) improved to 45.8%, reflecting strong loan growth of 21.2% year-over-year. The acquisition of UB Bancorp was completed on December 9, 2022, enhancing FNB’s assets significantly. For 2022, earnings per share (non-GAAP) rose to $1.40, despite the significant costs from acquisitions. This performance, coupled with a disciplined credit culture, allowed FNB to return over $220 million to shareholders through dividends and share repurchases.
F.N.B. Corporation (NYSE: FNB) has declared a quarterly cash dividend of
On January 17, 2023, F.N.B. Corporation (NYSE: FNB) declared a quarterly cash dividend of $0.12 per share on its common stock. This dividend is payable on March 15, 2023, to shareholders of record as of the close of business on March 3, 2023. F.N.B. Corporation, headquartered in Pittsburgh, Pennsylvania, offers a full range of financial services across seven states and the District of Columbia. The company has nearly $43 billion in total assets and operates approximately 340 banking offices. Its stock trades on the New York Stock Exchange under the symbol FNB.
F.N.B. Corporation (NYSE: FNB) has announced plans to release its fourth-quarter 2022 financial results on January 23, 2023, after market close. A conference call led by management, including CEO Vincent J. Delie, Jr., will occur on January 24, 2023, at 8:30 AM ET to discuss these results. This follows a pattern of transparency in sharing financial updates. The corporation operates across seven states and the District of Columbia, boasting total assets nearing $43 billion and approximately 340 banking offices.
F.N.B. Corporation (NYSE: FNB) has announced the successful acquisition of UB Bancorp, effective December 12, 2022. This acquisition enhances FNB's position in North Carolina, bringing total assets to nearly $44 billion, total loans to $29 billion, and total deposits to $35 billion. The merger increases FNB's deposit market share to ninth in the state, adding low-cost deposits and improved digital banking services for Union Bank customers. This strategic move is expected to leverage FNB's existing investments in the North Carolina market, enhancing its service offerings.
F.N.B. Corporation (NYSE: FNB) is expanding its ATM network by over 30% with nearly 300 new locations across North Carolina and South Carolina. This growth will increase FNB’s total ATM count to over 1,200, enhancing convenience for customers and geographical coverage in high-traffic areas such as Harris Teeter and Spinx. The strategy supplements FNB's branch network and is part of a broader plan that includes over 100 branches and 450 ATMs in the Carolinas. The expansion reinforces FNB's commitment to providing accessible banking services.
F.N.B. Corporation (NYSE: FNB) announced significant changes to its overdraft practices aimed at enhancing customer experience. Effective in Q1 2023, the updates will include eliminating continuous overdraft fees and reducing overdraft and NSF fees, expected to save customers around $10 million annually. Additionally, FNB will introduce a small-dollar loan product and the FNB Smart Secured credit card to improve financial flexibility for customers. These initiatives align with FNB's commitment to customer-friendly banking and financial education.
F.N.B. Corporation (NYSE: FNB) has announced a quarterly cash dividend of $18.13 per share on its Non-Cumulative Perpetual Preferred Stock, Series E (NYSE: FNB.PRE). The dividend is payable on November 15, 2022, to shareholders of record as of October 31, 2022. FNB Corporation operates in seven states and the District of Columbia, with total assets nearing $43 billion and approximately 340 banking offices. It offers a wide range of commercial and consumer banking services and is included in the S&P MidCap 400 Index.
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