F.N.B. Corporation Reports First Quarter 2026 Earnings

Rhea-AI Summary

F.N.B. Corporation (NYSE: FNB) reported 1Q26 net income of $137.0 million and diluted EPS of $0.38, up from $0.32 a year earlier. Pre-provision net revenue (non-GAAP) grew 17% and tangible book value per share (non-GAAP) rose 11.4% to $12.06.

Capital remained strong with an estimated CET1 ratio of 11.4%, a raised quarterly dividend to $0.13, and repurchase capacity of $300 million.

Positive

• Net income of $137.0 million and EPS $0.38
• Pre-provision net revenue +17% year-over-year
• Tangible book value per share +$1.23 (11.4%) to $12.06
• Estimated CET1 ratio 11.4%
• Authorized share repurchases totaling $300 million and dividend +8% to $0.13

Negative

• Net interest income down 1.7% QoQ due to fewer days and lower yields
• Non-interest expense increased 4.5% YoY, including higher fraud and litigation costs
• Net charge-offs rose to 0.18% annualized from 0.15% year-ago

News Market Reaction – FNB

+3.10%

1 alert

+3.10% News Effect

On the day this news was published, FNB gained 3.10%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Q1 2026 net income: $137.0M Q1 2026 diluted EPS: $0.38 Revenue growth: 9.4% +5 more

8 metrics

Q1 2026 net income $137.0M Net income available to common shareholders in Q1 2026

Q1 2026 diluted EPS $0.38 Earnings per diluted common share, up from $0.32 in Q1 2025

Revenue growth 9.4% Year-over-year revenue growth driving EPS and tangible book gains

EPS increase 18.8% Year-over-year increase in diluted EPS vs Q1 2025

Tangible book value/share $12.06 Non-GAAP tangible book value per share, up 11.4% YoY

CET1 ratio 11.4% Estimated Common Equity Tier 1 capital ratio at March 31, 2026

Loan-to-deposit ratio 90.3% Loans to deposits at March 31, 2026, improved from 91.9% year-ago

Net interest income $359.3M Q1 2026 net interest income, up 10.9% vs Q1 2025

Market Reality Check

Price: $17.66 Vol: Volume 9,391,183 is 1.06x...

normal vol

$17.66 Last Close

Volume Volume 9,391,183 is 1.06x the 20-day average of 8,868,524, indicating slightly elevated trading ahead of results. normal

Technical Price at $17.405 is trading above the 200-day MA of $16.53 and about 9% below the 52-week high of $19.135.

Peers on Argus

FNB is up 0.9% while peers show mixed, modest moves (e.g., OZK -0.19%, HWC +0.53...

FNB is up 0.9% while peers show mixed, modest moves (e.g., OZK -0.19%, HWC +0.53%). With no peers in the momentum scanner, the action appears company-specific rather than a broad regional bank move.

Previous Earnings Reports

5 past events · Latest: Jan 20 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 20	Q4 & FY25 earnings	Positive	+2.9%	Record 2025 revenue and earnings with strong capital and buybacks.
Oct 16	Q3 2025 earnings	Positive	+3.0%	Strong YoY EPS growth and record quarterly revenue with solid margins.
Jul 17	Q2 2025 earnings	Positive	+1.3%	Record revenue, higher net income and expanding loans and deposits.
Apr 16	Q1 2025 earnings	Positive	+3.1%	Stable earnings with record CET1 and strong balance sheet growth.
Jan 22	Q4 & FY24 earnings	Positive	-2.3%	Higher Q4 profit and record CET1 but shares fell post‑report.

Pattern Detected

Earnings releases have generally produced modest positive moves, with one notable negative divergence.

Recent Company History

Over the past five quarters, FNB’s earnings reports have highlighted steady growth in net income, revenue and tangible book value, alongside consistently strong CET1 capital ratios. Price reactions to these earnings have usually been positive, with four of five prior reports showing gains between roughly 1–3% in the following session. The current first‑quarter 2026 release continues themes of higher EPS, solid asset quality and stable capital, fitting into this pattern of incremental financial strengthening.

Historical Comparison

+1.6% avg move · Across five recent earnings releases, FNB’s average next‑day move was 1.59%, mostly modest gains. To...

earnings

+1.6%

Average Historical Move earnings

Across five recent earnings releases, FNB’s average next‑day move was 1.59%, mostly modest gains. Today’s reaction sits within this historically moderate earnings-response pattern.

Recent earnings have shown a progression of rising revenue, EPS and tangible book value, alongside CET1 ratios consistently above 10.6%, indicating steady capital and balance sheet strengthening over time.

Market Pulse Summary

This announcement highlights year-over-year growth in net income, EPS and tangible book value per sh...

Analysis

This announcement highlights year-over-year growth in net income, EPS and tangible book value per share, supported by higher net interest income and stable asset quality. Capital levels remain strong, with CET1 at 11.4% and a loan-to-deposit ratio of 90.3%. Investors may focus on how sustained loan and deposit growth, expense discipline, and management’s capital return actions through dividends and buybacks evolve over coming quarters relative to prior earnings trends.

Key Terms

pre-provision net revenue, net interest margin, loan-to-deposit ratio, non-performing loans, +4 more

8 terms

pre-provision net revenue financial

"Pre-provision net revenue (non-GAAP) totaled $192.4 million, a 17% increase..."

Pre-provision net revenue is a bank’s income from core operations — interest earned minus interest paid plus fees and other operating income, after operating costs — measured before setting aside funds for potential loan losses. Investors use it to gauge how well a bank’s everyday business generates money independent of one-time loss reserves, like judging a store’s sales and operating profit before accounting for an expected number of returned items.

net interest margin financial

"Net interest margin (FTE) (non-GAAP) equaled 3.25%, a decrease of 3 basis points..."

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

loan-to-deposit ratio financial

"The loan-to-deposit ratio was 90.3% at March 31, 2026..."

Loan-to-deposit ratio measures how much a bank has lent out compared with the money customers have deposited, expressed as a percentage. Think of it like the share of a household’s savings that has been loaned to others: a higher ratio can boost earnings but reduce cash on hand and increase risk, while a lower ratio means more liquidity but potentially lower returns—key for investors assessing a bank’s balance of profit and safety.

non-performing loans financial

"The ratio of non-performing loans and other real estate owned (OREO) to total loans..."

Loans on a bank’s books where the borrower has stopped making scheduled payments for a prolonged period (commonly about 90 days), so the lender no longer expects full repayment on time. Think of them as overdue IOUs that may never be paid back; a rising level of such loans weakens a lender’s earnings and balance sheet, signals greater credit risk in the economy, and can hurt investors through lower dividends, loan losses, or declines in the lender’s stock value.

other real estate owned (OREO) financial

"non-performing loans and other real estate owned (OREO) to total loans and leases..."

Other real estate owned (OREO) is property a lender or financial institution has taken possession of after a borrower defaulted on a loan, typically through foreclosure or repossession. It matters to investors because a rising stock of OREO signals more bad loans and potential losses, while the value and ease of selling these properties affect a lender’s balance sheet and future profits—think of it like a store having to sell repossessed goods at a discount to recover money owed.

allowance for credit losses (ACL) financial

"The allowance for credit losses (ACL) to total loans and leases ratio remained stable..."

Allowance for credit losses (ACL) is an accounting reserve banks and lenders set aside to cover loans and other receivables that may not be repaid. Think of it as a cushion or rainy-day fund that reduces reported assets to reflect expected losses; when the cushion grows, it can signal rising borrower trouble or more conservative accounting, and when it shrinks, it may boost reported profits and capital. Investors watch ACL to judge a lender’s risk exposure, earnings quality, and capital strength.

common equity tier 1 (CET1) regulatory

"The Common Equity Tier 1 (CET1) regulatory capital ratio ended the quarter at 11.4%..."

Common equity tier 1 (CET1) is the core capital of a bank made up of ordinary shares and retained profits that can absorb losses without the bank needing to borrow or cut customer services. Investors watch CET1 as a safety cushion indicator: higher CET1 means a bank is better able to withstand bad losses and maintain payouts, while a falling CET1 can signal higher risk or the need for new capital.

basis points financial

"Net interest margin (FTE) (non-GAAP) increased 22 basis points to 3.25%."

Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.

AI-generated analysis. Not financial advice.

Revenue Growth of 9.4% Drove an 18.8% Increase in Diluted EPS and 11.4% Growth in Tangible Book Value per Share (non-GAAP) from the First Quarter of 2025

PITTSBURGH, April 16, 2026 /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) reported earnings for the first quarter of 2026 with net income of $137.0 million, or $0.38 per diluted common share. Comparatively, first quarter 2025 net income totaled $116.5 million, or $0.32 per diluted common share, and fourth quarter of 2025 net income totaled $168.7 million, or $0.47 per diluted common share.

On an operating basis, there were no significant items impacting earnings for the first quarters of 2026 and 2025. By comparison, fourth quarter 2025 earnings per diluted common share on an operating basis (non-GAAP) was $0.50, excluding $16.6 million (pre-tax) of significant items impacting earnings.

"F.N.B. Corporation's first quarter earnings increased 19% from the year-ago quarter to $0.38 per diluted common share. Pre-provision net revenue (non-GAAP) increased 17% as we generated positive operating leverage of 5% with continued solid non-interest income generation and growth in net interest income," said F.N.B. Corporation Chairman, President and Chief Executive Officer, Vincent J. Delie, Jr. "Our key performance metrics and capital ratios remain strong with return on average tangible common equity (non-GAAP) equaling 13.2% and tangible book value per share (non-GAAP) of $12.06, an increase of 11% from the year-ago-quarter. Our Company's sustained superior financial performance, investments in a resilient risk management framework and a strong balance sheet have provided FNB with flexibility to efficiently deploy capital to benefit our shareholders. As we previously announced, we increased our quarterly cash dividend 8% to $0.13 per share and authorized a new share repurchase program with a total of $300 million now available for repurchase. FNB's award-winning digital and data analytics capabilities, including the eStore®, as well as investments in our Advisory and Capital Markets businesses and differentiated product offerings have enabled our team to continue to sustain growth and win against competitors of all sizes."

First Quarter 2026 Highlights
(All comparisons refer to the first quarter of 2025, except as noted)

• Average loans and leases totaled $34.9 billion, an increase of $849.4 million, or 2.5%, driven by consumer loan growth of $1.1 billion. In December 2025, FNB transferred approximately $200 million of performing residential mortgage loans to held-for-sale in anticipation of a loan sale that closed in the first quarter of 2026 as part of balance sheet management actions.
• On a linked-quarter basis, period-end total consumer loans and commercial loans and leases increased $198.2 million and $136.0 million, respectively, as loan activity began to accelerate late in the quarter.
• Average deposits totaled $38.4 billion, an increase of $1.4 billion, or 3.8%, as the growth in average money market deposits of $1.0 billion, average interest-bearing demand deposits of $241.0 million and average non-interest-bearing demand deposits of $180.3 million more than offset the declines in average savings deposits of $42.0 million and average time deposits of $30.7 million.
• On a linked-quarter basis, period-end total deposits increased $141.8 million, with deposit growth more than offsetting seasonal outflows during the quarter.
• The loan-to-deposit ratio was 90.3% at March 31, 2026, compared to 89.7% at December 31, 2025, and 91.9% at March 31, 2025.
• Net interest income totaled $359.3 million, a decrease of $6.2 million, or 1.7%, linked-quarter, primarily due to the impact of two less days in the current quarter and lower yields on earning assets, partially offset by a lower cost of funds.
• Net interest margin (FTE) (non-GAAP) equaled 3.25%, a decrease of 3 basis points from the fourth quarter of 2025, reflecting an 8 basis point decline in the total cost of funds offset by an 11 basis point decline in the total yield on earning assets (non-GAAP) which were impacted by the Federal Open Market Committee (FOMC) lowering the target federal funds rate in December 2025.
• Pre-provision net revenue (non-GAAP) totaled $192.4 million, a 17% increase from the year-ago quarter, driven by continued solid non-interest income generation and growth in net interest income.
• Provision for credit losses was $18.5 million, a decrease of $0.4 million from the prior quarter, with net charge-offs of $15.9 million, or 0.18% annualized of total average loans, compared to $16.4 million, or 0.19% annualized, in the prior quarter. The ratio of non-performing loans and other real estate owned (OREO) to total loans and leases and OREO increased 3 basis points from the prior quarter to 0.34%, and total delinquency increased 3 basis points from the prior quarter to 0.74%. The allowance for credit losses (ACL) to total loans and leases ratio remained stable at 1.26%. Overall, asset quality metrics remain at solid levels, reflecting continued proactive management of the loan portfolio.
• The Common Equity Tier 1 (CET1) regulatory capital ratio ended the quarter at 11.4% (estimated), compared to 10.7% at March 31, 2025, and 11.4% at December 31, 2025. The tangible common equity to tangible assets ratio (non-GAAP) equaled 8.9%, compared to 8.4% at March 31, 2025, and 8.9% at December 31, 2025.
• Tangible book value per common share (non-GAAP) of $12.06 increased $1.23, or 11.4%, compared to March 31, 2025, and $0.19, or 1.6%, compared to December 31, 2025.
• During the first quarter of 2026, the Company repurchased $35 million, or 2.0 million shares, of common stock at a weighted average share price of $17.41. On April 14, 2026, FNB announced the authorization of a new $250 million common stock repurchase program. Including the authority remaining under the previous program, total repurchase capacity is $300 million. 
• In April 2026, the Board of Directors declared a quarterly common stock cash dividend of $0.13, an 8% increase, beginning with the common dividend payable on June 15, 2026.

Non-GAAP measures referenced in this release are used by management to measure performance in operating the business that management believes enhances investors' ability to better understand the underlying business performance and trends related to core business activities. Reconciliations of non-GAAP operating measures to the most directly comparable GAAP financial measures are included in the tables at the end of this release. For more information regarding our use of non-GAAP measures, please refer to the discussion herein under the caption, "Use of Non-GAAP Financial Measures and Key Performance Indicators."

Quarterly Results Summary	1Q26		4Q25		1Q25
Reported results
Net income available to common shareholders (millions)	$    137.0		$    168.7		$    116.5
Earnings per diluted common share	0.38		0.47		0.32
Book value per common share	19.12		18.92		17.86
Pre-provision net revenue (non-GAAP) (millions)	192.4		184.6		164.8
Operating results (non-GAAP)
Operating net income available to common shareholders (millions)	$    137.0		$    181.8		$    116.5
Operating earnings per diluted common share	0.38		0.50		0.32
Operating pre-provision net revenue (millions)	192.4		205.7		164.8
Average diluted common shares outstanding (thousands)	360,235		360,840		363,069
Significant items impacting earnings(a) (millions)
FNB Foundation contribution (pre-tax)	$        —		$    (20.0)		$        —
FNB Foundation contribution (after-tax)	—		(15.8)		—
FDIC special assessment reduction (pre-tax)	—		3.4		—
FDIC special assessment reduction (after-tax)	—		2.7		—
Total significant items (pre-tax)	$        —		$    (16.6)		$        —
Total significant items (after-tax)	$        —		$    (13.1)		$        —
Capital measures
Common equity tier 1 (b)	11.4 %		11.4 %		10.7 %
Tangible common equity to tangible assets (non-GAAP)	8.91		8.89		8.37
Tangible book value per common share (non-GAAP)	$    12.06		$    11.87		$    10.83
(a) Favorable (unfavorable) impact on earnings.
(b) Estimated for 1Q26.

First Quarter 2026 Results – Comparison to Prior-Year Quarter
(All comparisons refer to the first quarter of 2025, except as noted.)

Net interest income totaled $359.3 million, an increase of $35.4 million, or 10.9%, reflecting growth in average earning assets and lower interest-bearing deposit costs, partially offset by lower yields on earning assets. The net interest margin (FTE) (non-GAAP) increased 22 basis points to 3.25%. The yield on earning assets (non-GAAP) decreased 9 basis points to 5.14%, driven by a 12 basis point decline in yields on loans to 5.56%, partially offset by a 13 basis point increase in yields on investment securities to 3.54%. Total cost of funds decreased 31 basis points to 2.01%, with a 36 basis point decrease in interest-bearing deposit costs to 2.40% and a 57 basis point decrease in total borrowing costs. The FOMC has lowered the target federal funds rate by 175 basis points since August 2024.

Average loans and leases totaled $34.9 billion, an increase of $849.4 million, or 2.5%, driven by growth of $1.1 billion in average consumer loans. Average commercial and industrial loans increased $266.4 million, or 3.5%, and average commercial leases increased $21.4 million, or 2.8%, offset by the decline in average commercial real estate loans of $503.1 million, or 4.0%. Solid commercial and industrial loan growth in the Charlotte, North Carolina market and equipment financing was offset by expected commercial real estate loan payoffs. The increase in average consumer loans included an $873.4 million, or 10.9%, increase in residential mortgage loans largely due to the continued successful execution in key markets and long-standing strategy of serving the purchase market, which was partially offset by the sale of approximately $200 million of performing residential mortgage loans in February 2026. Average consumer lines of credit increased $164.1 million, or 12.0%, and indirect auto loans increased $28.0 million, or 3.7%, both reflecting solid organic growth in the portfolio.

Average deposits totaled $38.4 billion, an increase of $1.4 billion, or 3.8%. The growth in average money market deposits of $1.0 billion, average interest-bearing demand deposits of $241.0 million and average non-interest-bearing demand deposits of $180.3 million more than offset the decline in average savings deposits of $42.0 million and average time deposits of $30.7 million. The mix of non-interest-bearing demand deposits to total deposits was stable at 26% at both March 31, 2026, and March 31, 2025. The loan-to-deposit ratio improved to 90.3% at March 31, 2026, compared to 91.9% at March 31, 2025.

Non-interest income totaled $91.0 million, an increase of $3.2 million, or 3.7%. Capital markets income increased $1.5 million, or 27.8%, reflecting solid contributions from debt capital markets, swap fees and international banking income. Wealth Management revenues increased $0.6 million, or 2.8%, as trust services income and securities commissions and fees increased 3.5% and 1.8%, respectively, through continued strong contributions across the geographic footprint. Other non-interest income increased $1.4 million, or 49.5%, from miscellaneous gains, while bank-owned life insurance decreased $1.2 million, reflecting higher life insurance claims in the year-ago quarter.

Non-interest expense totaled $257.9 million, increasing $11.1 million, or 4.5%. Net occupancy and equipment increased $5.1 million, or 11.1%, primarily due to technology-related investments and higher occupancy costs, which included unusually high seasonal snow removal costs. Bank shares tax increased $0.4 million, or 10.7%, reflecting a higher capital base. Other non-interest expense increased $6.8 million, or 30.4%, due to higher fraud losses, various litigation-related expenses and the impact of Community Uplift, an affordable mortgage down payment assistance program.

The ratio of non-performing loans and OREO to total loans and OREO decreased 14 basis points to 0.34%. Total delinquency decreased 1 basis point to 0.74%. Overall, asset quality metrics remain at solid levels.

The provision for credit losses was $18.5 million, compared to $17.5 million. The first quarter of 2026 reflected net charge-offs of $15.9 million, or 0.18% annualized of total average loans, compared to $12.5 million, or 0.15% annualized, reflecting continued proactive management of the loan portfolio. The ACL was $443.0 million, an increase of $14.2 million, with the ratio of the ACL to total loans and leases increasing 1 basis point to 1.26%.

The effective tax rate was 21.2%, compared to 20.9% in the first quarter of 2025.

The CET1 regulatory capital ratio was 11.4% (estimated) at March 31, 2026, and 10.7% at March 31, 2025. Tangible book value per common share (non-GAAP) was $12.06 at March 31, 2026, an increase of $1.23, or 11.4%, from $10.83 at March 31, 2025. AOCI reduced the current quarter tangible book value per common share (non-GAAP) by $0.24, compared to a reduction of $0.34 at the end of the year-ago quarter.

First Quarter 2026 Results – Comparison to Prior Quarter
(All comparisons refer to the fourth quarter of 2025, except as noted.)

Net interest income totaled $359.3 million, a decrease of $6.2 million, or 1.7%, primarily due to two less days in the current quarter and lower yields on earning assets, partially offset by lower cost of funds. The total yield on earning assets (non-GAAP) decreased 11 basis points to 5.14%. The total cost of funds decreased 8 basis points to 2.01%, as the cost of interest-bearing deposits decreased 13 basis points to 2.40% and total borrowing costs decreased 12 basis points to 4.23%. Total average borrowings increased $356.9 million due to normal seasonal outflows of deposits. The resulting net interest margin (FTE) (non-GAAP) was 3.25%, a 3 basis point decline.

Average loans and leases totaled $34.9 billion, a slight decrease of $83.0 million, or 1.0% annualized, as average consumer loans increased $48.8 million, offsetting the decrease of $131.8 million in average commercial loans and leases. End of period balances for consumer loans and commercial loans and leases increased $198.2 million and $136.0 million, respectively, as loan activity began to accelerate late in the quarter. For consumer lending, average consumer lines of credit increased $32.1 million and indirect auto loans increased $28.2 million, both reflecting solid organic growth in the portfolio and offsetting the impact of the loan sale on average residential mortgages. Average commercial loans and leases included declines of $299.2 million in average commercial real estate loans from secondary market activity and $28.2 million in average commercial leases, partially offset by an increase of $201.4 million in average commercial and industrial loans.

Average deposits totaled $38.4 billion, a decrease of $264.8 million, due to the impact of normal seasonal outflows in public funds and other corporate deposit balances. The decreases in average time deposits of $221.8 million and average non-interest-bearing deposit balances of $190.3 million were partially offset by growth in average interest-bearing demand deposits of $104.4 million and average savings deposit balances of $37.5 million. End of period total deposits increased $141.8 million as deposit inflows increased near the end of the quarter from their seasonal lows. The mix of non-interest-bearing demand deposits to total deposits was stable at 26% for both March 31, 2026 and December 31, 2025. The loan-to-deposit ratio totaled 90.3% at March 31, 2026, compared to 89.7% at December 31, 2025.

Non-interest income totaled $91.0 million, a decrease of $1.4 million, or 1.5%, from the prior quarter. Insurance commission and fees increased $1.4 million, or 30.3%, driven by seasonal contingent revenue and new client acquisition. Mortgage banking operations income increased $0.7 million, or 12.7%, primarily due to an 8% increase in sold loan volumes. Dividends on non-marketable equity securities increased $0.6 million, or 9.9%, from higher Federal Home Loan Bank activity. Service charges decreased $1.2 million, or 5.2%, primarily from the seasonally higher consumer transaction volumes in the prior quarter. Bank-owned life insurance decreased $1.2 million, reflecting higher life insurance claims in the prior quarter.

Non-interest expense totaled $257.9 million, a decrease of $15.3 million, or 5.6%, compared to the prior quarter. When adjusting for $16.6 million¹ (pre-tax) of significant items in the fourth quarter of 2025, operating non-interest expense (non-GAAP) increased $1.3 million, or 0.5%. Net occupancy and equipment increased $3.0 million, or 6.3%, primarily due to unusually high snow removal costs and higher occupancy costs. Salaries and employee benefits increased $1.9 million, or 1.4%, primarily due to normal seasonal long-term compensation expense of $7.1 million in the first quarter of 2026, as well as seasonally higher employer-paid payroll taxes, partially offset by lower employer-paid healthcare costs and performance-based compensation. Outside services decreased $3.1 million, or 10.6%, due to lower third-party legal costs. The efficiency ratio (non-GAAP) totaled 56.1%, compared to 53.8% in the prior quarter, reflecting the impact of the December FOMC rate cut and two less days in the quarter on net interest income and normal seasonality.

The ratio of non-performing loans and OREO to total loans and OREO increased 3 basis points to 0.34%, and delinquency increased 3 basis points to 0.74%. Overall, asset quality metrics remain at solid levels.

The provision for credit losses was $18.5 million, compared to $18.9 million. The first quarter of 2026 reflected net charge-offs of $15.9 million, or 0.18% annualized of total average loans, compared to $16.4 million, or 0.19% annualized, reflecting continued proactive management of the loan portfolio. The ACL was $443.0 million, an increase of $3.5 million, with the ratio of the ACL to total loans and leases stable at 1.26%.

The effective tax rate was 21.2%, compared to (1.8)%, reflecting the impact of the investment tax credits recognized as part of a renewable energy project financing transaction in the prior quarter.

The CET1 regulatory capital ratio was 11.4% (estimated), stable to 11.4% at December 31, 2025. Tangible book value per common share (non-GAAP) was $12.06 at March 31, 2026, an increase of $0.19 per share. AOCI reduced the current quarter-end tangible book value per common share (non-GAAP) by $0.24 as of March 31, 2026, compared to $0.18 at the end of the prior quarter.

1 Fourth quarter 2025 non-interest expense significant items impacting earnings included a $20 million (pre-tax) contribution to the FNB Foundation and ($3.4) million (pre-tax) reduction in the estimated FDIC special assessment related to the 2023 bank failures.

Use of Non-GAAP Financial Measures and Key Performance Indicators
To supplement our Consolidated Financial Statements presented in accordance with GAAP, we use certain non-GAAP financial measures, such as operating net income available to common shareholders, operating earnings per diluted common share, return on average tangible common equity, return on average tangible assets, tangible book value per common share, the ratio of tangible common equity to tangible assets, operating non-interest expense, pre-provision net revenue (reported), operating pre-provision net revenue, efficiency ratio, and net interest margin (FTE) to provide information useful to investors in understanding our operating performance and trends, and to facilitate comparisons with the performance of our peers. Management uses these measures internally to assess and better understand our underlying business performance and trends related to core business activities. The non-GAAP financial measures and key performance indicators we use may differ from the non-GAAP financial measures and key performance indicators other financial institutions use to assess their performance and trends.

These non-GAAP financial measures should be viewed as supplemental in nature, and not as a substitute for, or superior to, our reported results prepared in accordance with GAAP. Reconciliations of non-GAAP operating measures to the most directly comparable GAAP financial measures are included later in this release under the heading "Reconciliations of Non-GAAP Financial Measures and Key Performance Indicators to GAAP."

Management believes certain items (e.g., FDIC special assessment) are not organic to running our operations and facilities. These items are considered significant items impacting earnings as they are deemed to be outside of ordinary banking activities. These costs are specific to each individual transaction and may vary significantly based on the size and complexity of the transaction.

To facilitate peer comparisons of net interest margin and efficiency ratio, we use net interest income on a taxable-equivalent basis in calculating net interest margin by increasing the interest income earned on tax-exempt assets (loans and investments) to make it fully equivalent to interest income earned on taxable investments (this adjustment is not permitted under GAAP). Taxable-equivalent amounts for 2026 and 2025 were calculated using a federal statutory income tax rate of 21%.

Cautionary Statement Regarding Forward-Looking Information
This document contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward‑looking statements are those that do not relate to historical facts and that are based on current assumptions, beliefs, estimates, expectations and projections, many of which, by their nature, are inherently uncertain and beyond our control. Forward-looking statements may relate to various matters, including our financial condition, results of operations, plans, objectives, future performance, business or industry, and usually can be identified by the use of forward-looking words, such as "anticipates," "assumes," "believes," "can," "continues," "could," "enable," "estimates," "expects," "forecasts," "goal," "intends," "likely," "may," "might," "objective," "plans," "positioned," "potential," "projects," "remains," "should," "target," "trend," "will," "would," or similar words or expressions or variations thereof, and the negative thereof, but these terms are not the exclusive means of identifying such statements. You should not place undue reliance on forward-looking statements, as they are subject to risks and uncertainties, including, but not limited to, those described below. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements we may make.

There are various important factors that could cause future results to differ materially from historical performance and any forward-looking statements. Factors that might cause such differences, include, but are not limited to:

• the credit risk associated with the substantial amount of commercial loans and leases in our loan portfolio;
• the volatility of the mortgage banking business;
• changes in market interest rates, U.S. federal government shutdowns and the unpredictability of monetary, tax and other policies of government agencies, including tariffs or the imposition and enforceability of tariffs, trade wars, barriers or restrictions, threats of such actions or related uncertainties;
• the impact of changes in interest rates on the value of our investment securities portfolios;
• changes in our ability to obtain liquidity as and when needed to fund our obligations as they come due, including as a result of adverse changes to our credit ratings;
• the risk associated with uninsured deposit account balances;
• regulatory limits on our ability to receive dividends from our subsidiaries and pay dividends to our shareholders;
• our ability to recruit and retain qualified banking professionals;
• the financial soundness of other financial institutions and the impact of volatility in the banking sector on us;
• changes and instability in economic conditions and financial markets, in the regions in which we operate or otherwise, including a contraction of economic activity, economic downturn or uncertainty and international conflict, including in the Middle East, disruption of supply chain and energy supply markets and capital markets, changes to inflation expectations and other related uncertainties;
• our ability to continue to invest in technological improvements as they become appropriate or necessary;
• any interruption in or breach in security of our information systems, or other cybersecurity risks;
• risks associated with reliance on third-party vendors and artificial intelligence;
• risks associated with the use of models, estimations and assumptions in our business;
• the effects of adverse weather events and public health emergencies;
• the risks associated with acquiring other banks and financial services businesses, including integration into our existing operations;
• the extensive federal and state regulations, supervision and examination governing almost every aspect of our operations, and potential expenses associated with complying with such regulations;
• our ability to comply with the consent orders entered into by First National Bank of Pennsylvania with the Department of Justice and the North Carolina State Department of Justice, and related costs and potential reputational harm;
• changes in federal, state or local tax rules and regulations or interpretations, or accounting policies, standards and interpretations;
• the effects of climate change and related legislative and regulatory initiatives; and
• any reputation, credit, interest rate, market, operational, litigation, legal, liquidity, regulatory and compliance risk resulting from developments related to any of the risks discussed above.

FNB cautions that the risks identified here are not exhaustive of the types of risks that may adversely impact FNB and actual results may differ materially from those expressed or implied as a result of these risks and uncertainties, including, but not limited to, the risk factors and other uncertainties described under Item 1A. Risk Factors and the Risk Management sections of our 2025 Annual Report on Form 10-K (including the MD&A section), our subsequent 2026 Quarterly Reports on Form 10-Q (including the risk factors and risk management discussions) and our other filings with the Securities and Exchange Commission (SEC), which are available on our corporate website at https://www.fnb-online.com/about-us/investor-information/reports-and-filings or the SEC's website at www.sec.gov. We have included our web address as an inactive textual reference only. Information on our website is not part of our SEC filings.

You should treat forward-looking statements as speaking only as of the date they are made and based only on information then actually known to FNB. FNB does not undertake, and specifically disclaims any obligation to update or revise any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements except as required by law.

Conference Call
F.N.B. Corporation (NYSE: FNB) announced the financial results for the first quarter of 2026 after the market close on Thursday, April 16, 2026. Chairman, President and Chief Executive Officer, Vincent J. Delie, Jr., Chief Financial Officer, Vincent J. Calabrese, Jr., and Chief Credit Officer, Gary L. Guerrieri, plan to host a conference call to discuss the Company's financial results on Friday, April 17, 2026 at 8:30 AM ET.

A live listen-only webcast of the conference call will be available under the Investor Relations section of the Corporation's website at www.fnbcorporation.com. Participants can access the link under the "About Us" tab and clicking on "Investor Relations" then "Investor Conference Calls." The live webcast will open approximately 30 minutes prior to the start of the call.

To participate in the Q&A portion of the call, dial 844-802-2440 (for domestic callers) or 412-317-5133 (for international callers). Pre-registration can be accessed at https://dpregister.com/sreg/10207964/103b8b94fec. Callers who pre-register will be provided a conference passcode and unique PIN to bypass the live operator and gain immediate access to the call.

Presentation slides and the earnings release will also be available under the Investor Relations section of the Corporation's website at www.fnbcorporation.com. 

Following the call, a replay of the conference call will be available via the webcast link under the Investor Relations section of the Corporation's website at www.fnbcorporation.com. 

About F.N.B. Corporation
F.N.B. Corporation (NYSE: FNB), headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in seven states and the District of Columbia. FNB's 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. The Company has total assets of nearly $51 billion and more than 350 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, South Carolina, Washington, D.C. and Virginia.

FNB provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network which is led by its largest affiliate, First National Bank of Pennsylvania, 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. The consumer banking segment 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. FNB's wealth management services include asset management, private banking and insurance.

The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol "FNB" and is included in Standard & Poor's MidCap 400 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Customers, shareholders and investors can learn more about this regional financial institution by visiting the F.N.B. Corporation website at www.fnbcorporation.com. 

F.N.B. CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(Dollars in thousands, except per share data)
(Unaudited)
							% Variance
							1Q26		1Q26
	1Q26		4Q25		1Q25		4Q25		1Q25
Interest Income
Loans and leases, including fees	$ 485,913		$ 503,498		$ 480,574		(3.5)		1.1
Securities:
Taxable	61,140		60,249		54,850		1.5		11.5
Tax-exempt	6,903		6,932		6,940		(0.4)		(0.5)
Other	15,325		16,811		17,073		(8.8)		(10.2)
Total Interest Income	569,281		587,490		559,437		(3.1)		1.8
Interest Expense
Deposits	168,681		182,480		185,828		(7.6)		(9.2)
Short-term borrowings	17,934		15,892		14,103		12.8		27.2
Long-term borrowings	23,388		23,676		35,661		(1.2)		(34.4)
Total Interest Expense	210,003		222,048		235,592		(5.4)		(10.9)
Net Interest Income	359,278		365,442		323,845		(1.7)		10.9
Provision for credit losses	18,462		18,870		17,489		(2.2)		5.6
Net Interest Income After       Provision for Credit Losses	340,816		346,572		306,356		(1.7)		11.2
Non-Interest Income
Service charges	22,770		24,013		22,355		(5.2)		1.9
Interchange and card transaction fees	12,487		13,345		12,370		(6.4)		0.9
Trust services	12,831		12,211		12,400		5.1		3.5
Insurance commissions and fees	6,224		4,777		5,793		30.3		7.4
Securities commissions and fees	8,982		9,129		8,820		(1.6)		1.8
Capital markets income	6,801		6,534		5,323		4.1		27.8
Mortgage banking operations	6,345		5,629		6,993		12.7		(9.3)
Dividends on non-marketable equity securities	6,245		5,683		5,560		9.9		12.3
Bank owned life insurance	4,110		5,264		5,350		(21.9)		(23.2)
Net securities gains (losses)	2		—		—		n/m		n/m
Other	4,188		5,756		2,802		(27.2)		49.5
Total Non-Interest Income	90,985		92,341		87,766		(1.5)		3.7
Non-Interest Expense
Salaries and employee benefits	135,707		133,774		135,135		1.4		0.4
Net occupancy	22,637		19,829		19,758		14.2		14.6
Equipment	28,091		27,875		25,885		0.8		8.5
Outside services	26,461		29,585		26,341		(10.6)		0.5
Marketing	3,601		5,297		4,573		(32.0)		(21.3)
FDIC insurance	7,450		4,585		8,483		62.5		(12.2)
Bank shares tax	4,577		1,237		4,136		270.0		10.7
Other	29,341		50,987		22,500		(42.5)		30.4
Total Non-Interest Expense	257,865		273,169		246,811		(5.6)		4.5
Income Before Income Taxes	173,936		165,744		147,311		4.9		18.1
Income tax expense (benefit)	36,890		(2,949)		30,796		1,350.9		19.8
Net Income	$ 137,046		$ 168,693		$ 116,515		(18.8)		17.6
Earnings per Common Share
Basic	$    0.38		$    0.47		$    0.32		(19.1)		18.8
Diluted	0.38		0.47		0.32		(19.1)		18.8
Cash Dividends per Common Share	0.12		0.12		0.12		—		—
n/m - not meaningful

F.N.B. CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Dollars in millions)
(Unaudited)
							% Variance
							1Q26		1Q26
	1Q26		4Q25		1Q25		4Q25		1Q25
Assets
Cash and due from banks	$      452		$      387		$      524		16.8		(13.7)
Interest-bearing deposits with banks	2,207		2,111		1,921		4.5		14.9
Cash and Cash Equivalents	2,659		2,498		2,445		6.4		8.8
Securities available for sale	3,775		3,727		3,477		1.3		8.6
Securities held to maturity	4,183		4,117		4,029		1.6		3.8
Loans held for sale	321		515		190		(37.7)		68.9
Loans and leases, net of unearned income	35,112		34,777		34,235		1.0		2.6
Allowance for credit losses on loans and leases	(443)		(439)		(429)		0.9		3.3
Net Loans and Leases	34,669		34,338		33,806		1.0		2.6
Premises and equipment, net	566		568		539		(0.4)		5.0
Goodwill	2,480		2,480		2,478		—		0.1
Core deposit and other intangible assets, net	33		36		48		(8.3)		(31.3)
Bank owned life insurance	671		667		662		0.6		1.4
Other assets	1,271		1,283		1,346		(0.9)		(5.6)
Total Assets	$   50,628		$   50,229		$   49,020		0.8		3.3
Liabilities
Deposits:
Non-interest-bearing	$   10,003		$    9,914		$    9,867		0.9		1.4
Interest-bearing	28,898		28,845		27,372		0.2		5.6
Total Deposits	38,901		38,759		37,239		0.4		4.5
Short-term borrowings	2,157		2,017		1,969		6.9		9.5
Long-term borrowings	2,001		1,901		2,514		5.3		(20.4)
Other liabilities	768		793		880		(3.2)		(12.7)
Total Liabilities	43,827		43,470		42,602		0.8		2.9
Shareholders' Equity
Common stock	4		4		4		—		—
Additional paid-in capital	4,698		4,695		4,696		0.1		—
Retained earnings	2,437		2,343		2,025		4.0		20.3
Accumulated other comprehensive loss	(86)		(63)		(121)		36.5		(28.9)
Treasury stock	(252)		(220)		(186)		14.5		35.5
Total Shareholders' Equity	6,801		6,759		6,418		0.6		6.0
Total Liabilities and Shareholders' Equity	$   50,628		$   50,229		$   49,020		0.8		3.3

F.N.B. CORPORATION AND SUBSIDIARIES
(Dollars in thousands)
(Unaudited)
		1Q26						4Q25						1Q25
				Interest						Interest						Interest
		Average		Income/		Yield/		Average		Income/		Yield/		Average		Income/		Yield/
		Balance		Expense		Rate		Balance		Expense		Rate		Balance		Expense		Rate
Assets
Interest-bearing deposits with banks		$ 1,748,445		$ 15,325		3.55 %		$ 1,752,290		$ 16,811		3.81 %		$ 1,741,006		$ 17,073		3.98 %
Taxable investment securities (1)		6,876,738		60,936		3.55		6,706,245		60,039		3.58		6,437,681		54,635		3.40
Tax-exempt investment securities (1) (2)		991,913		8,735		3.52		1,000,876		8,764		3.50		1,010,117		8,764		3.47
Loans held for sale		437,086		7,572		6.93		347,216		6,271		7.22		203,579		3,884		7.63
Loans and leases (2) (3)		34,900,157		479,857		5.56		34,983,204		498,753		5.67		34,050,781		478,065		5.68
Total Interest Earning Assets (2)		44,954,339		572,425		5.14		44,789,831		590,638		5.25		43,443,164		562,421		5.23
Cash and due from banks		373,240						388,831						393,846
Allowance for credit losses		(446,932)						(442,527)						(428,903)
Premises and equipment		567,938						562,855						538,394
Other assets		4,505,350						4,469,488						4,535,697
Total Assets		$ 49,953,935						$ 49,768,478						$ 48,482,198
Liabilities
Deposits:
Interest-bearing demand		$ 6,541,455		18,173		1.13		$ 6,437,006		18,683		1.15		$ 6,300,423		18,826		1.21
Money market		11,700,669		85,030		2.95		11,695,237		91,789		3.11		10,652,531		90,025		3.43
Savings		3,102,399		6,787		0.89		3,064,940		7,340		0.95		3,144,432		8,110		1.05
Certificates and other time		7,193,173		58,690		3.31		7,414,998		64,668		3.46		7,223,878		68,867		3.87
Total interest-bearing deposits		28,537,696		168,680		2.40		28,612,181		182,480		2.53		27,321,264		185,828		2.76
Short-term borrowings		1,978,660		17,934		3.67		1,669,263		15,892		3.76		1,374,269		14,103		4.14
Long-term borrowings		1,984,936		23,388		4.78		1,937,403		23,676		4.85		2,828,002		35,662		5.11
Total Interest-Bearing Liabilities		32,501,292		210,002		2.62		32,218,847		222,048		2.73		31,523,535		235,593		3.03
Non-interest-bearing demand deposits		9,828,293						10,018,626						9,647,959
Total Deposits and Borrowings		42,329,585				2.01		42,237,473				2.09		41,171,494				2.32
Other liabilities		816,738						838,258						938,559
Total Liabilities		43,146,323						43,075,731						42,110,053
Shareholders' Equity		6,807,612						6,692,747						6,372,145
Total Liabilities and Shareholders' Equity		$ 49,953,935						$ 49,768,478						$ 48,482,198
Net Interest Earning Assets		$ 12,453,047						$ 12,570,984						$ 11,919,629
Net Interest Income (FTE) (2)				362,423						368,590						326,828
Tax Equivalent Adjustment				(3,145)						(3,148)						(2,983)
Net Interest Income				$ 359,278						$ 365,442						$ 323,845
Net Interest Spread						2.52 %						2.52 %						2.20 %
Net Interest Margin  (2)						3.25 %						3.28 %						3.03 %

(1)	The average balances and yields earned on securities are based on historical cost.
(2)	The interest income amounts are reflected on an FTE basis (non-GAAP), which adjusts for the tax benefit of income on certain tax-exempt loans and investments using the federal statutory tax rate of 21%. The yield on earning assets and the net interest margin are presented on an FTE basis (non-GAAP).
(3)	Average loans and leases consist of average total loans, including non-accrual loans, less average unearned income.

F.N.B. CORPORATION AND SUBSIDIARIES
(Unaudited)
	1Q26		4Q25		1Q25
Performance Ratios
Return on average equity	8.16 %		10.00 %		7.42 %
Return on average tangible common equity (1)	13.20		16.33		12.62
Return on average assets	1.11		1.34		0.97
Return on average tangible assets (1)	1.19		1.44		1.06
Net interest margin (FTE) (2)	3.25		3.28		3.03
Yield on earning assets (FTE) (2)	5.14		5.25		5.23
Cost of interest-bearing deposits	2.40		2.53		2.76
Cost of interest-bearing liabilities	2.62		2.73		3.03
Cost of funds	2.01		2.09		2.32
Efficiency ratio (1)	56.08		53.81		58.50
Effective tax rate	21.21		(1.78)		20.91
Capital Ratios
Equity / assets	13.43		13.46		13.09
Common equity tier 1 (3)	11.4		11.4		10.7
Leverage	9.22		9.11		8.72
Tangible common equity / tangible assets (1)	8.91		8.89		8.37
Common Stock Data
Average diluted common shares outstanding	360,234,607		360,839,742		363,068,604
Period end common shares outstanding	355,670,905		357,303,315		359,364,784
Book value per common share	$      19.12		$      18.92		$      17.86
Tangible book value per common share (1)	12.06		11.87		10.83
Dividend payout ratio (common)	31.71 %		25.70 %		37.75 %

(1)	See non-GAAP financial measures section of this Press Release for additional information relating to the calculation of this item.
(2)	The net interest margin and yield on earning assets (all non-GAAP measures) are presented on a fully taxable equivalent (FTE) basis, which adjusts for the tax benefit of income on certain tax-exempt loans and investments using the federal statutory tax rate of 21%.
(3)	March 31, 2026 Common Equity Tier 1 Capital ratio is an estimate.

F.N.B. CORPORATION AND SUBSIDIARIES
(Dollars in millions)
(Unaudited)
							% Variance
							1Q26		1Q26
	1Q26		4Q25		1Q25		4Q25		1Q25
Balances at period end
Loans and Leases:
Commercial real estate (1)	$  12,164		$  12,274		$  12,652		(0.9)		(3.9)
Commercial and industrial	8,032		7,718		7,628		4.1		5.3
Commercial leases	778		791		782		(1.6)		(0.5)
Other	87		141		174		(38.3)		(50.0)
Commercial loans and leases	21,061		20,924		21,236		0.7		(0.8)
Direct installment	2,655		2,678		2,656		(0.9)		—
Residential mortgages	9,038		8,882		8,184		1.8		10.4
Indirect installment	805		767		776		5.0		3.7
Consumer LOC	1,553		1,526		1,383		1.8		12.3
Consumer loans	14,051		13,853		12,999		1.4		8.1
Total loans and leases	$  35,112		$  34,777		$  34,235		1.0		2.6
Note: Loans held for sale were $321, $515 and $190 at 1Q26, 4Q25, and 1Q25, respectively.
(1) Commercial real estate is made up of 68% non-owner occupied and 32% owner-occupied at March 31, 2026.
							% Variance
Average balances							1Q26		1Q26
Loans and Leases:	1Q26		4Q25		1Q25		4Q25		1Q25
Commercial real estate	$  12,202		$  12,501		$  12,705		(2.4)		(4.0)
Commercial and industrial	7,855		7,654		7,589		2.6		3.5
Commercial leases	787		815		766		(3.5)		2.8
Other	144		150		148		(3.9)		(2.6)
Commercial loans and leases	20,988		21,120		21,208		(0.6)		(1.0)
Direct installment	2,667		2,679		2,664		(0.4)		0.1
Residential mortgages	8,921		8,921		8,048		—		10.9
Indirect installment	788		759		760		3.7		3.7
Consumer LOC	1,536		1,504		1,372		2.1		12.0
Consumer loans	13,912		13,863		12,843		0.4		8.3
Total loans and leases	$  34,900		$  34,983		$  34,051		(0.2)		2.5

F.N.B. CORPORATION AND SUBSIDIARIES
(Dollars in millions)
(Unaudited)
							% Variance
							1Q26		1Q26
Asset Quality Data	1Q26		4Q25		1Q25		4Q25		1Q25
Non-Performing Assets
Non-performing loans	$   118		$   105		$   161		12.4		(26.7)
Other real estate owned (OREO)	3		3		2		—		50.0
Non-performing assets	$   121		$   108		$   163		12.0		(25.8)
Non-performing loans / total loans and leases	0.33 %		0.30 %		0.47 %
Non-performing assets plus 90+ days past due / total loans and leases plus OREO	0.49		0.35		0.50
Non-performing loans plus OREO / total loans and leases plus OREO	0.34		0.31		0.48
Delinquency
Loans 30-89 days past due	$    93		$   130		$    88		(28.5)		5.7
Loans 90+ days past due	50		13		9		284.6		455.6
Non-accrual loans	118		105		161		12.4		(26.7)
Past due and non-accrual loans	$   261		$   248		$   258		5.2		1.2
Past due and non-accrual loans / total loans and leases	0.74 %		0.71 %		0.75 %

F.N.B. CORPORATION AND SUBSIDIARIES
(Dollars in millions)
							% Variance
(Unaudited)							1Q26		1Q26
Allowance on Loans and Leases and Allowance for Unfunded Loan Commitments Rollforward	1Q26		4Q25		1Q25		4Q25		1Q25
Allowance for Credit Losses on Loans and Leases
Balance at beginning of period	$ 439.5		$ 437.3		$ 422.8		0.5		4.0
Provision for credit losses	19.4		18.7		18.6		3.4		3.9
Net loan (charge-offs) / recoveries	(15.9)		(16.4)		(12.5)		(3.6)		26.4
Allowance for credit losses on loans and leases	$ 443.0		$ 439.5		$ 428.9		0.8		3.3
Allowance for Unfunded Loan Commitments
Allowance for unfunded loan commitments balance at beginning of period	$   20.1		$   20.1		$   21.4		0.1		(5.9)
Provision (reduction in allowance) for unfunded loan commitments / other adjustments	(0.9)		—		(1.1)		n/m		(17.1)
Allowance for unfunded loan commitments	$   19.2		$   20.1		$   20.3		(4.6)		(5.3)
Total allowance for credit losses on loans and leases and allowance for unfunded loan commitments	$ 462.2		$ 459.6		$ 449.1		0.6		2.9
Allowance for credit losses on loans and leases / total loans and leases	1.26 %		1.26 %		1.25 %
Allowance for credit losses on loans and leases / total non-performing loans	376.8		417.7		266.9
Net loan charge-offs (annualized) / total average loans and leases	0.18		0.19		0.15
n/m - not meaningful

F.N.B. CORPORATION AND SUBSIDIARIES
(Unaudited)
RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES AND KEY PERFORMANCE INDICATORS TO GAAP
We believe the following non-GAAP financial measures provide information useful to investors in understanding our operating performance and trends, and facilitate comparisons with the performance of our peers. The non-GAAP financial measures we use may differ from the non-GAAP financial measures other financial institutions use to measure their results of operations. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, our reported results prepared in accordance with U.S. GAAP. The following tables summarize the non-GAAP financial measures included in this press release and derived from amounts reported in our financial statements.
							% Variance
							1Q26		1Q26
	1Q26		4Q25		1Q25		4Q25		1Q25
Operating net income available to common shareholders
(dollars in thousands)
Net income available to common shareholders	$ 137,046		$ 168,693		$ 116,515
FNB Foundation contribution	—		20,000		—
Tax benefit of FNB Foundation contribution	—		(4,200)		—
FDIC special assessment	—		(3,375)		—
Tax expense (benefit) of FDIC special assessment	—		709		—
Operating net income available to common shareholders (non-GAAP)	$ 137,046		$ 181,827		$ 116,515		(24.6)		17.6
							% Variance
							1Q26		1Q26
	1Q26		4Q25		1Q25		4Q25		1Q25
Operating earnings per diluted common share
Earnings per diluted common share	$    0.38		$    0.47		$    0.32
FNB Foundation contribution	—		0.06		—
Tax benefit of FNB Foundation contribution	—		(0.01)		—
FDIC special assessment	—		(0.01)		—
Tax expense (benefit) of FDIC special assessment	—		—		—
Operating earnings per diluted common share (non-GAAP)	$    0.38		$    0.50		$    0.32		(24.0)		18.8

F.N.B. CORPORATION AND SUBSIDIARIES
(Unaudited)
	1Q26		4Q25		1Q25
Return on average tangible common equity
(dollars in thousands)
Net income available to common shareholders (annualized)	$    555,798		$    669,270		$    472,534
Amortization of intangibles, net of tax (annualized)	10,733		12,324		12,620
Tangible net income available to common shareholders (annualized) (non-GAAP)	$    566,531		$    681,594		$    485,154
Average total shareholders' equity	$  6,807,612		$  6,692,747		$  6,372,145
Less: Average intangible assets (1)	(2,514,310)		(2,517,887)		(2,527,636)
Average tangible common equity (non-GAAP)	$  4,293,302		$  4,174,860		$  3,844,509
Return on average tangible common equity (non-GAAP)	13.20 %		16.33 %		12.62 %
Return on average tangible assets
(dollars in thousands)
Net income (annualized)	$    555,798		$    669,270		$    472,534
Amortization of intangibles, net of tax (annualized)	10,733		12,324		12,620
Tangible net income (annualized) (non-GAAP)	$    566,531		$    681,594		$    485,154
Average total assets	$ 49,953,935		$ 49,768,478		$ 48,482,198
Less: Average intangible assets (1)	(2,514,310)		(2,517,887)		(2,527,636)
Average tangible assets (non-GAAP)	$ 47,439,625		$ 47,250,591		$ 45,954,562
Return on average tangible assets (non-GAAP)	1.19 %		1.44 %		1.06 %
(1) Excludes loan servicing rights.

F.N.B. CORPORATION AND SUBSIDIARIES
(Unaudited)
	1Q26		4Q25		1Q25
Tangible book value per common share
(dollars in thousands, except per share data)
Total shareholders' equity	$   6,800,671		$   6,758,572		$   6,418,012
Less:  Intangible assets (1)	(2,512,732)		(2,516,082)		(2,525,619)
Tangible common equity (non-GAAP)	$   4,287,939		$   4,242,490		$   3,892,393
Common shares outstanding	355,670,905		357,303,315		359,364,784
Tangible book value per common share (non-GAAP)	$        12.06		$        11.87		$        10.83
Tangible common equity to tangible assets
(dollars in thousands)
Total shareholders' equity	$   6,800,671		$   6,758,572		$   6,418,012
Less:  Intangible assets (1)	(2,512,732)		(2,516,082)		(2,525,619)
Tangible common equity (non-GAAP)	$   4,287,939		$   4,242,490		$   3,892,393
Total assets	$ 50,628,037		$ 50,229,013		$ 49,019,742
Less:  Intangible assets (1)	(2,512,732)		(2,516,082)		(2,525,619)
Tangible assets (non-GAAP)	$ 48,115,305		$ 47,712,931		$ 46,494,123
Tangible common equity to tangible assets (non-GAAP)	8.91 %		8.89 %		8.37 %
(1) Excludes loan servicing rights.
Operating non-interest expense
(in thousands)
Non-interest expense	$       257,865		$       273,169		$       246,811
FNB Foundation contribution	—		(20,000)		—
FDIC special assessment	—		3,375		—
Operating non-interest expense (non-GAAP)	$       257,865		$       256,544		$       246,811

F.N.B. CORPORATION AND SUBSIDIARIES
(Unaudited)
	1Q26		4Q25		1Q25
Pre-provision net revenue
(in thousands)
Net interest income	$  359,278		$  365,442		$  323,845
Non-interest income	90,985		92,341		87,766
Less: Non-interest expense	(257,865)		(273,169)		(246,811)
Pre-provision net revenue (reported) (non-GAAP)	$  192,398		$  184,614		$  164,800
Pre-provision net revenue (reported) (annualized) (non-GAAP)	$  780,281		$  732,437		$  668,357
Adjustments:
Add: FNB Foundation contribution (non-interest expense)	—		20,000		—
Add (Less): FDIC special assessment (non-interest expense)	—		(3,375)		—
Add: Tax credit-related impairment project (non-interest expense)	—		4,442		—
Operating pre-provision net revenue (non-GAAP)	$  192,398		$  205,681		$  164,800
Operating pre-provision net revenue (annualized) (non-GAAP)	$  780,281		$  816,015		$  668,357
Efficiency ratio (FTE)
(dollars in thousands)
Total non-interest expense	$  257,865		$  273,169		$  246,811
Less: Amortization of intangibles	(3,350)		(3,932)		(3,939)
Less: OREO expense	(236)		(125)		(315)
Less: FNB Foundation contribution	—		(20,000)		—
Add (Less): FDIC special assessment	—		3,375		—
Less: Tax credit-related project impairment	—		(4,442)		—
Adjusted non-interest expense	$  254,279		$  248,045		$  242,557
Net interest income	$  359,278		$  365,442		$  323,845
Taxable equivalent adjustment	3,145		3,148		2,983
Non-interest income	90,985		92,341		87,766
Less:  Net securities losses (gains)	(2)		—		—
Adjusted net interest income (FTE) + non-interest income	$  453,406		$  460,931		$  414,594
Efficiency ratio (FTE) (non-GAAP)	56.08 %		53.81 %		58.50 %

 

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SOURCE F.N.B. Corporation

FAQ

What were FNB's reported 1Q26 earnings and EPS (NYSE: FNB)?

F.N.B. reported 1Q26 net income of $137.0 million and diluted EPS of $0.38. According to the company, this compares with 1Q25 net income of $116.5 million and EPS of $0.32, reflecting year-over-year improvement in core revenue.

How did FNB's tangible book value per share change in 1Q26 for FNB stockholders?

Tangible book value per share rose to $12.06, an 11.4% increase year-over-year. According to the company, this improvement reflects earnings retention and capital management, with tangible book value rising $1.23 compared to March 31, 2025.

What capital actions did F.N.B. announce on April 16, 2026 (FNB)?

The company increased the quarterly dividend to $0.13 per share and authorized total share repurchase capacity of $300 million. According to the company, the Board declared the dividend payable June 15, 2026, and repurchase capacity includes prior program authority.

Did FNB's net interest margin improve or decline in 1Q26 (NYSE: FNB)?

Net interest margin (FTE) was 3.25%, slightly down 3 basis points quarter-over-quarter but up year-over-year. According to the company, the change reflected lower yields on earning assets and a decline in total cost of funds after Fed rate cuts.

What key risks to credit and expenses did F.N.B. report for 1Q26 (FNB)?

The company reported higher non-interest expense and modestly increased net charge-offs, with net charge-offs at 0.18% annualized. According to the company, expense growth included fraud and litigation-related costs and seasonal occupancy increases.