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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 a $100,000 contribution to the Hill District Federal Credit Union to support financial services in Pittsburgh's Hill District, aligning with its $250 million commitment to address economic inequities. This investment aims to enhance the credit union's capacity to provide financial education and services, strengthening community engagement. FNB has a history of supporting economic development and financial literacy initiatives in low- and moderate-income areas.
F.N.B. Corporation reported a net income of $81.6 million for Q2 2020, increasing from $45.4 million in Q1 2020 but down from $93.2 million in Q2 2019. Earnings per diluted share were $0.25. The results reflect the impact of $2.6 billion in loans from the Paycheck Protection Program and $2.0 million in COVID-19-related expenses. Total revenue grew to $306 million, with average loans and deposits increasing 12.5% and 14.3%, respectively. The efficiency ratio improved to 53.7%, while net interest income decreased slightly due to lower interest rates.
F.N.B. Corporation (NYSE: FNB) declared a quarterly cash dividend of $18.13 per share on its Non-Cumulative Perpetual Preferred Stock, Series E (NYSE: FNB.PRE), payable on August 15, 2020. Additionally, a cash dividend of $0.12 per common share is set for payment on September 15, 2020. Shareholders must be on record by July 31, 2020, for the preferred stock and September 4, 2020, for the common stock. F.N.B. operates over 350 banking offices across multiple states, with total assets exceeding $35 billion.
First National Bank, the largest subsidiary of F.N.B. Corporation (NYSE: FNB), appointed Joseph Cartellone as Executive Vice President, Director of Mortgage Services. Based in Pittsburgh, he oversees a division with nearly $3 billion in annual loan production. Cartellone aims to enhance customer experience through new technologies and processes, succeeding David B. Green. With over 32 years of experience, Cartellone previously worked at Chase, PNC, and BBVA Compass. FNB, headquartered in Pittsburgh, operates across seven states with total assets exceeding $35 billion.
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F.N.B. Corporation (NYSE: FNB) will release its second-quarter 2020 financial results on July 16, 2020, at 6:00 PM ET. A conference call with key executives, including Chairman and CEO Vincent J. Delie, Jr., is scheduled for July 17, 2020, at 8:15 AM ET to discuss the results. Participants can pre-register for the call for quicker access. The company operates over 350 banking offices across multiple states and has total assets exceeding $35 billion.
F.N.B. Corporation (NYSE: FNB) has announced a $250 million commitment to support economic investments in underserved communities. This initiative focuses on affordable housing, small business support, and financial education, particularly targeting low-to-moderate income areas. The pledge aims to rectify social and racial inequities faced by African American communities. With total assets exceeding $35 billion, FNB is committed to enhancing the quality of life across its market footprint, which includes major metropolitan areas like Pittsburgh, Baltimore, and Cleveland.