F.N.B. reports Q3 non-GAAP EPS 40c, consensus 36c

Q3 NII increased $29.5M, or 9.9%, from last year, to $326.6M. Q3 net charge-offs were $37.7M, or 0.47% annualized of total average loans, vs. $2.8M, or 0.04% annualized, from last year. “We are pleased with F.N.B. Corporation’s Q3 financial results, reporting 40c of earnings per diluted common share and an 18.2% return on tangible common equity. In addition, we continued to outperform the industry with our quarterly loan and deposit growth of 2.5% and 2.3%, respectively, while adhering to our conservative risk management standards,” said CEO Vincent Delie, Jr. “Our capital ratios remained at good levels as tangible common equity to tangible assets finished the quarter at 7.54%, CET1 totaled 10.2%, and tangible book value per common share was $9.02 at September 30th, an increase of $1.00, or 12.5%, year over year. FNB‘s focus on internal capital generation provides support for our effort to grow loan and deposit share across our footprint. Given the strength of our performance, FNB is well-prepared to meet the needs of our consumer and business clients with a broad array of products and services, a strong balance sheet, ample liquidity and a commitment to achieving success for all of our stakeholders.”