FNB Corp. Posts 36% Net Income Jump, Driven by Strong Loan Growth

TL;DR

**FNB is crushing it with big net income gains and solid loan growth – buy the dip!**

AI Summary

F.N.B. Corporation reported a significant increase in net income for the three months ended September 30, 2025, reaching $150 million, up from $110 million in the same period of 2024, representing a 36.4% increase. Net interest income also saw a healthy rise, climbing to $359 million from $323 million year-over-year, an 11.1% increase. Total assets grew to $49.889 billion as of September 30, 2025, from $48.625 billion at December 31, 2024, driven by an increase in net loans and leases to $34.520 billion from $33.516 billion. Deposits increased to $38.441 billion from $37.107 billion, with non-interest-bearing demand deposits rising to $9.969 billion. The provision for credit losses slightly increased to $24 million from $23 million, reflecting ongoing risk management. Strategic outlook includes evaluating new accounting standards like ASU 2025-06 for internal-use software and ASU 2024-03 for expense disaggregation, though no material impact is currently expected on financial statements.

Why It Matters

FNB's robust net income growth and expanding asset base signal strong operational performance and effective capital deployment, which is positive for investors. The increase in net loans and leases, alongside deposit growth, indicates a healthy banking environment and FNB's ability to attract and retain customers in competitive markets like Pittsburgh and Charlotte. This performance could lead to increased shareholder value through potential dividend increases or share buybacks, while also supporting job creation and local economies through lending activities. The competitive landscape, with FNB operating across seven states and D.C., suggests its diversified market presence is a key strength.

Risk Assessment

Risk Level: medium — While FNB shows strong financial performance, the provision for credit losses increased slightly to $24 million for the three months ended September 30, 2025, up from $23 million in the prior year. Additionally, the company's total liabilities increased to $43.253 billion from $42.323 billion, and long-term borrowings decreased significantly from $3.012 billion to $2.099 billion, which could indicate refinancing or repayment strategies that bear interest rate risk.

Analyst Insight

Investors should consider FNB's consistent growth in net income and loans as a positive indicator for long-term value. Monitor the impact of new accounting standards on future disclosures and keep an eye on interest rate trends, as they could affect the cost of deposits and borrowings. The strong performance suggests FNB is well-positioned in its diversified markets.

Financial Highlights

revenue

$359 million

total Assets

$49.889 billion

total Debt

$4.004 billion

net Income

$150 million

eps

$0.41

cash Position

$2.413 billion

revenue Growth

+11.1%

Revenue Breakdown

Key Numbers

• $150 million — Net Income (for Q3 2025, up from $110 million in Q3 2024)
• $359 million — Net Interest Income (for Q3 2025, up from $323 million in Q3 2024)
• $49.889 billion — Total Assets (as of September 30, 2025, up from $48.625 billion at December 31, 2024)
• $34.520 billion — Net Loans and Leases (as of September 30, 2025, up from $33.516 billion at December 31, 2024)
• $38.441 billion — Total Deposits (as of September 30, 2025, up from $37.107 billion at December 31, 2024)
• $9.969 billion — Non-interest-bearing demand deposits (as of September 30, 2025, up from $9.761 billion at December 31, 2024)
• $24 million — Provision for credit losses (for Q3 2025, up from $23 million in Q3 2024)
• $0.41 — Basic Earnings per Common Share (for Q3 2025, up from $0.30 in Q3 2024)

Key Players & Entities

• F.N.B. Corporation (company) — registrant
• First National Bank of Pennsylvania (company) — bank subsidiary
• SEC (regulator) — Securities and Exchange Commission
• FASB (regulator) — Financial Accounting Standards Board
• Pittsburgh, Pennsylvania (location) — headquarters
• ASU 2025-06 (other) — accounting standard update
• ASU 2024-03 (other) — accounting standard update
• New York Stock Exchange (other) — exchange for common stock

FAQ

Risk Factors

• Credit Risk [medium — financial]: The company faces credit risk from its loan and lease portfolio. The allowance for credit losses increased slightly to $437 million as of September 30, 2025, from $423 million at December 31, 2024, indicating ongoing monitoring of potential loan defaults.
• Regulatory Compliance [high — regulatory]: As a financial institution, FNB is subject to extensive regulation by federal and state agencies, including the FDIC and SEC. Changes in regulations or failure to comply can result in fines, penalties, and reputational damage.
• Interest Rate Sensitivity [medium — market]: Fluctuations in interest rates can impact net interest income. While net interest income increased by 11.1% year-over-year, significant shifts in the interest rate environment could affect future profitability.
• Cybersecurity and Data Breaches [medium — operational]: The increasing reliance on technology and digital services exposes FNB to risks associated with cybersecurity threats and data breaches, which could lead to financial losses and reputational damage.
• Liquidity Risk [medium — financial]: The company must maintain adequate liquidity to meet its obligations. While deposits increased to $38.441 billion, a sudden withdrawal of funds or inability to access funding sources could pose a liquidity challenge.
• Economic Downturn [medium — financial]: A significant economic downturn could lead to increased loan delinquencies and defaults, negatively impacting asset quality and the provision for credit losses.

Industry Context

F.N.B. Corporation operates in the highly competitive U.S. banking industry, characterized by a trend towards consolidation and increasing digital adoption. Banks are focusing on expanding their reach in growing metropolitan areas and offering a comprehensive suite of financial services, including commercial, consumer, and wealth management solutions. The industry is also navigating evolving customer expectations for seamless digital experiences and personalized financial advice.

Regulatory Implications

As a regulated financial institution, FNB is subject to stringent oversight from bodies like the FDIC and SEC. Compliance with evolving regulations, such as those related to capital adequacy, consumer protection, and cybersecurity, is critical. Potential changes in accounting standards, like ASU 2025-06 and ASU 2024-03, require ongoing evaluation to ensure compliance and accurate financial reporting.

What Investors Should Do

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Key Dates

• 2025-09-30: End of Q3 2025 — Reported net income of $150 million and total assets of $49.889 billion, showing strong growth from the prior year.
• 2024-09-30: End of Q3 2024 — Reported net income of $110 million and total assets of $48.625 billion (as of Dec 31, 2024), providing a baseline for year-over-year comparison.
• 2025-12-31: End of Fiscal Year 2024 — Reported total assets of $48.625 billion and net loans and leases of $33.516 billion, used as a comparison point for Q3 2025 figures.

Glossary

Net Interest Income

The difference between the interest income generated by a bank and the interest paid out to its depositors and lenders. (A key measure of a bank's profitability from its core lending and deposit-taking activities.)

Provision for credit losses

An expense set aside by a financial institution to cover potential losses from loans that may not be repaid. (Indicates management's assessment of credit risk within the loan portfolio.)

Non-interest-bearing demand deposits

Customer deposits held in checking accounts that do not earn interest. (Represents a low-cost source of funding for the bank.)

Allowance for credit losses on loans and leases

A contra-asset account that reduces the carrying amount of loans and leases to their estimated net realizable value. (Reflects the cumulative expected losses on the loan portfolio.)

Goodwill

An intangible asset that arises when a company acquires another company for a price greater than the fair value of its net identifiable assets. (Represents the premium paid for the acquired company's brand, customer base, or other unidentifiable assets.)

Core deposit and other intangible assets, net

Intangible assets representing the value of core deposits (stable, low-cost deposits) and other acquired intangible assets. (Reflects the value of stable funding sources and other acquired intangibles.)

Year-Over-Year Comparison

Compared to the prior year's comparable period, F.N.B. Corporation has demonstrated robust growth, with Net Income surging by 36.4% to $150 million and Net Interest Income rising by 11.1% to $359 million. Total assets have expanded to $49.889 billion, driven by increases in net loans and leases and total deposits. The provision for credit losses has seen a slight uptick, reflecting prudent risk management in a dynamic economic environment. No new significant risks have been explicitly highlighted in this filing compared to general industry risks.

Key Financial Figures

• $0.01 — ich Registered Common Stock, par value $0.01 per share FNB New York Stock Exchange

Filing Documents

• fnb-20250930.htm (10-Q) — 5014KB
• fnb10-qex311q32025.htm (EX-31.1) — 9KB
• fnb10-qex312q32025.htm (EX-31.2) — 9KB
• fnb10-qex321q32025.htm (EX-32.1) — 4KB
• fnb10-qex322q32025.htm (EX-32.2) — 4KB
• 0000037808-25-000135.txt ( ) — 24758KB
• fnb-20250930.xsd (EX-101.SCH) — 96KB
• fnb-20250930_cal.xml (EX-101.CAL) — 194KB
• fnb-20250930_def.xml (EX-101.DEF) — 586KB
• fnb-20250930_lab.xml (EX-101.LAB) — 1156KB
• fnb-20250930_pre.xml (EX-101.PRE) — 904KB
• fnb-20250930_htm.xml (XML) — 6478KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Glossary of Acronyms and Terms 4

Financial Statements

Item 1. Financial Statements Consolidated Balance Sheets 5 Consolidated Statements of Income 6 Consolidated Statements of Comprehensive Income (Loss) 7 Consolidated Statements of Changes in Shareholders' Equity 8 Consolidated Statements of Cash Flows 10

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 11

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 59

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 99

Controls and Procedures

Item 4. Controls and Procedures 99

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 100

Risk Factors

Item 1A. Risk Factors 100

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 100

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 100

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 100

Other Information

Item 5. Other Information 101

Exhibits

Item 6. Exhibits 101

Signatures

Signatures 102 3 Glossary of Acronyms and Terms Acronym Description Acronym Description ACL Allowance for credit losses FNTC First National Trust Company AFS Available for sale FOMC Federal Open Market Committee ALCO Asset/Liability Committee FRB Board of Governors of the Federal Reserve System AOCI Accumulated other comprehensive income FTE Fully taxable equivalent ASU Accounting Standards Update GAAP U.S. generally accepted accounting principles AULC Allowance for unfunded loan commitments GSE Government-sponsored enterprises BOLI Bank owned life insurance HTM Held to maturity CECL Current expected credit losses LGD Loss given default CET1 Common equity tier 1 LIHTC Various partnerships of affordable housing CFPB Consumer Financial Protection Bureau MBS Mortgage-backed securities CMO Collateralized mortgage obligations MD&A

Management's Discussion and Analysis of

Management's Discussion and Analysis of Financial Condition and Results of Operations DOJ U.S. Department of Justice MSRs Mortgage servicing rights ERM Framework Enterprise-wide risk management framework OREO Other real estate owned EVE Economic value of equity Report Quarterly Report on Form 10-Q FASB Financial Accounting Standards Board R&S Reasonable and Supportable FDIC Federal Deposit Insurance Corporation SBA Small Business Administration FHLB Federal Home Loan Bank SEC Securities and Exchange Commission FICO Fair Isaac Corporation SOFR Secured Overnight Financing Rate FNB F.N.B. Corporation TPS Trust preferred securities FNBIA F.N.B. Investment Advisors, Inc. U.S. United States of America FNBPA First National Bank of Pennsylvania VIE Variable interest entity FNIS First National Investment Services Company, LLC 4

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS F.N.B. CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Dollars in millions, except share and per share data) September 30, 2025 December 31, 2024 (Unaudited) Assets Cash and due from banks $ 474 $ 416 Interest-bearing deposits with banks 1,939 2,003 Cash and Cash Equivalents 2,413 2,419 Debt securities available for sale (amortized cost of $ 3,690 and $ 3,620 ; allowance for credit losses of $ 0 and $ 0 ) 3,620 3,466 Debt securities held to maturity (fair value of $ 3,838 and $ 3,644 ; allowance for credit losses of $ 0 and $ 0 ) 4,049 3,979 Loans held for sale (includes $ 263 and $ 214 measured at fair value (1) ) 278 218 Loans and leases, net of unearned income of $ 84 and $ 106 (includes $ 78 and $ 53 measured at fair value (1) ) 34,957 33,939 Allowance for credit losses on loans and leases ( 437 ) ( 423 ) Net Loans and Leases 34,520 33,516 Premises and equipment, net 557 536 Goodwill 2,480 2,478 Core deposit and other intangible assets, net 40 51 Bank owned life insurance 668 660 Other assets 1,264 1,302 Total Assets $ 49,889 $ 48,625 Liabilities Deposits: Non-interest-bearing demand $ 9,969 $ 9,761 Interest-bearing demand 17,803 16,668 Savings 3,114 3,178 Certificates and other time deposits 7,555 7,500 Total Deposits 38,441 37,107 Short-term borrowings 1,905 1,256 Long-term borrowings 2,099 3,012 Other liabilities 808 948 Total Liabilities 43,253 42,323 Shareholders' Equity Common stock - $ 0.01 par value Authorized – 500,000,000 shares Issued – 375,030,534 and 375,018,433 shares 4 4 Additional paid-in capital 4,693 4,695 Retained earnings 2,218 1,952 Accumulated other comprehensive loss ( 77 ) ( 169 ) Treasury stock – 16,648,594 and 15,402,776 shares at cost ( 202 ) ( 180 ) Total Shareholders' Equity 6,636 6,302 Total Liabilities and Shareholders' Equity $ 49,889 $ 48,625 (1) Amount represents loans for which we have elected the fair value option. See Note 18 . See

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) September 30, 2025 The terms "FNB," "the Corporation," "we," "us" and "our" throughout this Report mean F.N.B. Corporation and our consolidated subsidiaries, unless the context indicates that we refer only to the parent company, F.N.B. Corporation. When we refer to "FNBPA" in this Report, we mean our bank subsidiary, First National Bank of Pennsylvania, and its subsidiaries. NATURE OF OPERATIONS F.N.B. Corporation, headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in seven states and the District of Columbia. Our market coverage spans several major metropolitan areas including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington, D.C.; Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina; and Charleston, South Carolina. As of September 30, 2025, we had 354 branches throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, South Carolina, Washington D.C. and Virginia. We provide a full range of commercial banking, consumer banking and wealth management solutions through our subsidiary network which is led by our largest affiliate, FNBPA, founded in 1864. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, government banking, business credit, capital markets and lease financing. Consumer banking provides a full line of consumer banking products and services, including deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. Wealth management services include asset management, private banking and insurance. NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Our accompanying Consolidated Financial Statements and these Notes to Consolidated Financial Statements (unaudited) include subsidiaries in which we have a controlling financ