# F.N.B. Corporation (NYSE: FNB) Reports Second Quarter 2025 Earnings
F.N.B. Corporation announced its financial results for the second quarter of 2025 on July 17, 2025, highlighting significant growth in revenue and profitability metrics.
## Summary of Key Financial Metrics and Highlights
– **Net Income**:
– **Q2 2025**: $130.7 million, or $0.36 per diluted share.
– **Q2 2024**: $123.0 million, or $0.34 per diluted share.
– **Growth**: +6.5% from Q2 2024 and +12.1% from Q1 2025.
– **Record Revenue**:
– **Q2 2025**: $438 million.
– **Linked-Quarter Growth**: +6.5%.
– **Net interest income** rose to **$347.2 million**, an increase of **7.2%** from Q1 2025 and **9.9%** from Q2 2024.
– **Pre-Provision Net Revenue**:
– Increased by **16%** linked-quarter to **$192 million** (non-GAAP).
– **Loan Metrics**:
– **Average loans and leases**: $34.5 billion, up **3.7%** year-over-year.
– **Consumer loans**: Increased by **$889 million**, while **commercial loans** increased by **$357.8 million**.
– **Annualized average loan growth** from Q1 2025 was +5.3%.
– **Deposit Metrics**:
– **Average deposits**: $37.1 billion, an increase of **7.3%** versus Q2 2024.
– Gains in **interest-bearing demand deposits** (+$2.3 billion) and **time deposits** (+$595.8 million) offset a decline in savings and non-interest-bearing deposits.
– **Loan-to-deposit ratio** remained stable at **92%**.
– **Capital Measures**:
– **Common Equity Tier 1 (CET1)** ratio was **10.8%**, compared to **10.2%** at June 30, 2024.
– **Tangible book value per share**: $11.14, up **12.8%** year-over-year.
– **Non-Interest Income**:
– Totaled a record **$91 million**, a growth of **3.5%** compared to Q2 2024.
– **Capital markets income**: Up **34.1%** year-over-year.
– **Non-Interest Expense**:
– Totaled **$246.2 million**, an increase of **8.7%** from Q2 2024.
– Adjusted non-interest expense (non-GAAP) decreased by **0.2%** linked-quarter.
– **Asset Quality**:
– Non-performing loans decreased to **0.34%** of total loans, down from **0.32%** a year ago.
– Overall delinquency decreased to **0.62%**.
– **Share Repurchase**:
– The company repurchased **0.7 million shares** of common stock at an average price of **$13.85** during Q2 2025.
– **Quarterly Dividend**:
– F.N.B. declared a cash dividend of **$0.12 per common share**, consistent with the previous quarter.
– **Efficiency Ratio**:
– The adjusted efficiency ratio (non-GAAP) improved to **54.8%**, compared to **58.5%** in Q1 2025.
– **Final Thoughts**:
– F.N.B. reported sustained profitability and solid balance sheet growth despite market challenges, attributing success to diverse growth strategies and technology investments.
In conclusion, F.N.B. Corporation’s second-quarter earnings showcase a marked improvement in profitability and capital ratios, solidifying its position in the regional banking landscape as it continues to adapt and grow amid evolving economic conditions.
### F.N.B. CORPORATION AND SUBSIDIARIES
### CONSOLIDATED STATEMENTS OF INCOME
#### (Dollars in thousands, except per share data)
| 2Q25 | 1Q25 | 2Q24 | % Variance | For the Six Months Ended | % | |
|---|---|---|---|---|---|---|
| Interest Income | ||||||
| Loans and leases, including fees | 500,767 | 480,574 | 494,119 | 4.2 | 981,341 | 0.6 |
| Securities: | ||||||
| Taxable | 57,168 | 54,850 | 47,795 | 4.2 | 112,018 | 19.4 |
| Tax-exempt | 6,918 | 6,940 | 7,067 | -0.3 | 13,858 | -2.2 |
| Other | 17,788 | 17,073 | 8,207 | 4.2 | 34,861 | 100.5 |
| Total Interest Income | 582,641 | 559,437 | 557,188 | 4.1 | 1,142,078 | 3.8 |
| Interest Expense | ||||||
| Deposits | 181,190 | 185,828 | 179,960 | -2.5 | 367,018 | 4.8 |
| Short-term borrowings | 20,132 | 14,103 | 32,837 | 42.7 | 34,235 | -43.4 |
| Long-term borrowings | 34,123 | 35,661 | 28,501 | -4.3 | 69,784 | 27.1 |
| Total Interest Expense | 235,445 | 235,592 | 241,298 | -0.1 | 471,037 | 1.1 |
| Net Interest Income | 347,196 | 323,845 | 315,890 | 7.2 | 671,041 | 5.7 |
| Provision for credit losses | 25,601 | 17,489 | 20,189 | 46.4 | 43,090 | 26.4 |
| Net Interest Income After | 321,595 | 306,356 | 295,701 | 5.0 | 627,951 | 4.5 |
| Provision for Credit Losses | ||||||
| Non-Interest Income | ||||||
| Service charges | 22,930 | 22,355 | 23,332 | 2.6 | 45,285 | 3.2 |
| Interchange and card transaction fees | 13,254 | 12,370 | 13,005 | 7.1 | 25,624 | -0.3 |
| Trust services | 11,591 | 12,400 | 11,475 | -6.5 | 23,991 | 4.8 |
| Insurance commissions and fees | 5,108 | 5,793 | 5,973 | -11.8 | 10,901 | -14.3 |
| Securities commissions and fees | 8,882 | 8,820 | 7,980 | 0.7 | 17,702 | 9.7 |
| Capital markets income | 6,897 | 5,323 | 5,143 | 29.6 | 12,220 | 6.5 |
| Mortgage banking operations | 6,306 | 6,993 | 6,956 | -9.8 | 13,299 | -10.6 |
| Dividends on non-marketable equity | 6,168 | 5,560 | 6,895 | 10.9 | 11,728 | -10.4 |
| securities | ||||||
| Bank owned life insurance | 3,838 | 5,350 | 3,419 | -28.3 | 9,188 | 35.9 |
| Net securities gains (losses) | 58 | — | -3 | n/m | 58 | n/m |
| Other | 5,983 | 2,802 | 3,747 | 113.5 | 8,785 | 6.8 |
| Total Non-Interest Income | 91,015 | 87,766 | 87,922 | 3.7 | 178,781 | 1.7 |
| Non-Interest Expense | ||||||
| Salaries and employee benefits | 129,842 | 135,135 | 120,917 | -3.9 | 264,977 | 6.0 |
| Net occupancy | 19,299 | 19,758 | 18,632 | -2.3 | 39,057 | 2.2 |
| Equipment | 27,988 | 25,885 | 24,335 | 8.1 | 53,873 | 12.0 |
| Outside services | 25,317 | 26,341 | 23,250 | -3.9 | 51,658 | 12.0 |
| Marketing | 5,017 | 4,573 | 4,006 | 9.7 | 9,590 | 1.6 |
| FDIC insurance | 8,922 | 8,483 | 9,954 | 5.2 | 17,405 |
