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F.N.B. Corp reports developments for a bank holding company whose subsidiary network is led by First National Bank of Pennsylvania. News about FNB commonly covers commercial banking, consumer deposits and lending, wealth management, capital markets, treasury management and digital banking through eStore® and the Common app.
Recurring updates include quarterly earnings, net interest income trends, loan and deposit activity, dividend and share repurchase actions, leadership appointments, public finance capabilities, institutional banking relationships and product expansion across the company's multi-state footprint.
F.N.B. Corporation (NYSE: FNB) announced the retirement of Chief Wholesale Banking Officer Robert Moorehead, effective January 2021. Moorehead, with over 45 years of experience, joined FNB in 2011 and significantly contributed to its growth and commercial banking operations. His retirement opens opportunities for internal promotions, including Bryant Mitchell as the new Chief Wholesale Banking Officer. Other promotions include Ahmed El Nokali and Brad Jones. FNB has received over 50 awards for excellence in commercial banking during Moorehead's tenure.
F.N.B. Corporation (NYSE: FNB) announced its third-quarter 2020 earnings, reporting a net income of $80.8 million ($0.25 per diluted share), compared to $100.7 million in Q3 2019. Operating earnings per diluted share stood at $0.26. Total average loans grew 14.7%, driven by $2.5 billion in PPP loans. Average deposits increased 17.8%, reflecting customer inflows from government stimulus. Net interest income declined 1.2%, while mortgage banking income surged 93.1%. The company maintained a quarterly dividend of $0.12 per share, emphasizing a stable capital position.
F.N.B. Corporation (NYSE: FNB) announced a quarterly cash dividend of $18.13 per share on its Non-Cumulative Perpetual Preferred Stock, Series E (NYSE: FNB PR E). This dividend, equivalent to $0.45325 per depositary share, is payable on November 15, 2020, to shareholders of record as of the close of business on October 30, 2020. The company, headquartered in Pittsburgh, operates across seven states and the District of Columbia with total assets nearing $38 billion.
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F.N.B. Corporation (NYSE: FNB) declared a quarterly cash dividend of $0.12 per share, payable on December 15, 2020, to shareholders on record as of December 3, 2020. The corporation, headquartered in Pittsburgh, Pennsylvania, has total assets nearing $38 billion and operates around 350 banking offices across various states including Pennsylvania, Maryland, and North Carolina. FNB provides a full range of financial services through its subsidiary network, focusing on commercial and consumer banking as well as wealth management solutions.
F.N.B. Corporation (NYSE: FNB) will release its third-quarter 2020 financial results on October 19, 2020, at 6:00 PM ET. A conference call hosted by Chairman and CEO Vincent J. Delie, Jr., CFO Vincent J. Calabrese, Jr., and Chief Credit Officer Gary L. Guerrieri will follow on October 20, 2020, at 8:15 AM ET. Pre-registration for the call is encouraged, and the company will provide a replay option until October 27, 2020. F.N.B. operates with total assets nearing $38 billion across multiple states.
F.N.B. Corporation (NYSE: FNB) reported a significant reduction in loan deferrals, with second deferrals totaling $434 million, or 1.8% of total loans as of September 15, 2020, down from $2.4 billion, or 10.3%, on June 30, 2020. The decrease indicates improved loan performance and quality of the customer base, reflecting effective credit risk management and disciplined underwriting practices. The company, with nearly $38 billion in total assets, will provide further insights during the upcoming third quarter earnings call.
On September 10, 2020, F.N.B. Corporation (NYSE: FNB) announced a multi-year partnership with the Pittsburgh Penguins, becoming their Official Retail and Digital Banking Partner. This agreement will enhance F.N.B.'s presence at PPG Paints Arena, featuring the "F.N.B. Club" and "F.N.B. Gate". Fans will have access to banking services, including three ATMs and a digital center with innovative banking technology. Additionally, the partnership introduces co-branded Penguins checking packages and other promotional offerings, aimed at community engagement and enhancing customer experience.
F.N.B. Corporation (NYSE: FNB) announced leadership promotions within F.N.B. Equipment Finance, elevating R. Timothy Evans to President and Donna Yanuzzi to Managing Director of Sales and Marketing, following Gary Cook's retirement after nearly 50 years in finance. With a portfolio nearing $1 billion, Evans brings almost 40 years of experience, while Yanuzzi has over 23 years at FNB. Their combined expertise is expected to drive growth as the company continues to deliver tailored leasing solutions for commercial clients.
F.N.B. Corporation (NYSE: FNB) has been recognized as a Q2 2020 Standout Commercial Bank by Greenwich Associates for its effective response to the COVID-19 pandemic. This honor highlights FNB's commitment to client relations and digital services, with the bank funding $2.6 billion in Paycheck Protection Program loans, aiding nearly 20,000 businesses. FNB's proactive measures included providing loan payment deferrals of $2.4 billion for around 14,800 clients and donating $1 million for COVID-19 relief. The bank has consistently earned accolades for its customer service over the past decade.