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Record Net Interest Income Driven by Net Interest Margin (non-GAAP) Expansion and Loan and Deposit Annualized Growth of 8.5% and 8.9%, Respectively

, /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) reported earnings for the third quarter of 2026 with net income of $152.9 million, or $0.43 per diluted common share. Comparatively, third quarter 2025 net income totaled $149.5 million, or $0.41 per diluted common share, and second quarter 2026 net income totaled $148.7 million, or $0.42 per diluted common share.

On an operating basis, there were no significant items impacting earnings for the third and second quarters of 2026. By comparison, third quarter of 2025 net income on an operating basis (non-GAAP) was $147.7 million, excluding $(2.3) million (pre-tax) of significant items impacting earnings.

"F.N.B. Corporation delivered another strong quarter with $0.43 earnings per diluted common share, bringing year-to-date earnings to $1.23 per diluted common share, a 13% increase over the same period in 2025. For the third quarter of 2026, we generated record net interest income, expanded net interest margin and increased tangible book value per common share (non-GAAP) 7% year over year, while continuing to return capital through share repurchase activity and an attractive dividend," said F.N.B. Corporation Chairman, President and Chief Executive Officer, Vince Delie. "FNB continues to leverage technology investments to gain market share throughout our diverse geographic footprint with 8.5% annualized loan growth and 8.9% annualized deposit growth, both of which align with our long-term organic growth trajectory. Our consistent underwriting standards contributed to solid credit quality results for the quarter. By strategically investing in innovative technology to grow primary relationships and low-cost deposits, while also maintaining a focus on expanding high-value fee-based businesses to diversify revenue streams, we are building a stronger, more resilient franchise. The investments in these initiatives contributed to a strong third quarter performance and create sustainable value for the future."

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

Average loans and leases totaled $36.1 billion, an increase of $1.3 billion, or 3.7%, with growth of $1.2 billion in average consumer loans and $115.4 million in average commercial loans and leases.
On a linked-quarter basis, period-end total loans and leases increased $768.0 million, or 8.5% annualized, with growth in consumer loans and commercial loans and leases of $435.3 million and $332.7 million, respectively.
Average deposits totaled $38.8 billion, an increase of $914.1 million, or 2.4%, reflecting growth in average interest-bearing demand deposits of $640.6 million, average money market deposits of $443.8 million, average non-interest-bearing demand deposits of $134.0 million, and average savings deposits of $30.6 million more than offsetting the decline in average time deposits of $334.8 million.
On a linked-quarter basis, period-end total deposits increased $870.6 million, or 8.9% annualized, driven by growth in money market deposits of $710.9 million, interest-bearing demand deposits of $239.0 million and non-interest-bearing demand deposits of $77.5 million more than offsetting the decline in time deposits of $121.4 million.
The loan-to-deposit ratio was 92.4% at September 30, 2026, compared to 92.5% at June 30, 2026, and 90.9% at September 30, 2025.
Net interest income totaled $376.5 million, a linked-quarter increase of $10.8 million, or 3.0%, primarily due to growth in earning assets, higher yields on earning assets (non-GAAP) and the impact of one more day in the current quarter more than offsetting a slight increase in the cost of funds. Net interest margin (FTE) (non-GAAP) equaled 3.29%, an increase of 4 basis points from the second quarter 2026 level with stable interest-bearing deposit costs and higher yields on earning assets. The Federal Open Market Committee (FOMC) increased the target federal funds rate by 25 basis points in September 2026.
Pre-provision net revenue (non-GAAP) totaled $212.2 million, with the 1.3% increase from the prior quarter driven by record net interest income.
Provision for credit losses was $19.6 million, a decrease of $1.7 million from the prior quarter, with net charge-offs of $11.0 million, or 0.12% annualized of total average loans, compared to $17.0 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 2 basis points from the prior quarter to 0.33%, and total delinquency increased 4 basis points from the prior quarter to 0.75%. The allowance for credit losses (ACL) to total loans and leases ratio remained stable at 1.25%. Overall asset quality metrics remain at satisfactory levels.
The Common Equity Tier 1 (CET1) regulatory capital ratio ended the quarter at 11.3% (estimated), compared to 11.1% at September 30, 2025, and 11.4% at June 30, 2026. The tangible common equity to tangible assets ratio (non-GAAP) equaled 8.7%, compared to 8.7% at September 30, 2025, and 8.9% at June 30, 2026.
Tangible book value per common share (non-GAAP) of $12.28 increased $0.80, or 7.0%, compared to September 30, 2025, and $0.04, or 0.3%, compared to June 30, 2026. Accumulated other comprehensive income/loss (AOCI) reduced the tangible book value per common share (non-GAAP) by $0.53 as of September 30, 2026, primarily due to the impact of higher interest rates on the fair value of available-for-sale (AFS) securities, compared to a reduction of $0.22 as of September 30, 2025, and $0.29 as of June 30, 2026.
During the third quarter of 2026, the Company repurchased $51 million, or 2.7 million shares, of common stock at a weighted average share price of $18.69. Year-to-date, the Company repurchased $133 million, or 7.4 million shares, of common stock at a weighted average share price of $17.90, representing 2.1% of shares outstanding at the beginning of the year.

Non-GAAP financial 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 financial 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

3Q26

2Q26

3Q25

Reported results

Net income available to common shareholders (millions)

$   152.9

$   148.7

$   149.5

Earnings per diluted common share

0.43

0.42

0.41

Book value per common share

19.42

19.34

18.52

Pre-provision net revenue (non-GAAP) (millions)

212.2

209.4

213.9

Operating results (non-GAAP)

Operating net income available to common shareholders (millions)

$   152.9

$   148.7

$   147.7

Operating earnings per diluted common share

0.43

0.42

0.41

Operating pre-provision net revenue (millions)

212.2

209.4

211.6

Average diluted common shares outstanding (thousands)

354,965

357,414

361,670

Significant items impacting earnings(a) (millions)

FDIC special assessment reduction (pre-tax)

$       —

$       —

$      2.3

FDIC special assessment reduction (after-tax)

—

—

1.8

Total significant items (pre-tax)

$       —

$       —

$      2.3

Total significant items (after-tax)

$       —

$       —

$      1.8

Capital measures

Common equity tier 1 (b)

11.3 %

11.4 %

11.1 %

Tangible common equity to tangible assets (non-GAAP)

8.69

8.93

8.69

Tangible book value per common share (non-GAAP)

$   12.28

$   12.24

$   11.48

(a) Favorable (unfavorable) impact on earnings.

(b) Estimated for 3Q26.

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

Net interest income totaled $376.5 million, an increase of $17.3 million, or 4.8%, 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 4 basis points to 3.29%. The yield on earning assets (non-GAAP) decreased 18 basis points to 5.18%, driven by a 23 basis point decline in yields on loans to 5.56%. Total cost of funds decreased 22 basis points to 2.01%, with a 47 basis point decrease in total borrowing costs to 4.17%, and a 29 basis point decrease in interest-bearing deposit costs to 2.37%.

Average loans and leases totaled $36.1 billion, an increase of $1.3 billion, or 3.7%, including growth of $1.2 billion in consumer loans and $115.4 million in commercial loans and leases. Average commercial and industrial loans increased $856.0 million, or 11.3%, more than offsetting the decline in average commercial real estate loans of $735.7 million, or 5.8%. Solid commercial and industrial loan growth benefited from strong equipment finance production and growth in the Charlotte, Pittsburgh and other Pennsylvania markets. Average consumer loans included an $877.8 million, or 10.0%, increase in residential mortgage loans largely due to the long-standing strategy of serving the purchase market, partially offset by the sale of approximately $200 million of performing residential mortgage loans in February 2026. Average consumer lines of credit increased $187.8 million, or 12.9%, and indirect auto loans increased $135.3 million, or 17.4%, both reflecting solid organic growth in the respective portfolios.

Average deposits totaled $38.8 billion, an increase of $914.1 million, or 2.4%, with growth in average interest-bearing demand deposits of $640.6 million, average money market deposits of $443.8 million, average non-interest-bearing demand deposits of $134.0 million, and average savings deposits of $30.6 million more than offsetting the decline in average time deposits of $334.8 million. The mix of non-interest-bearing demand deposits to total deposits was stable at 26% at both September 30, 2026, and September 30, 2025. The loan-to-deposit ratio was 92.4% at September 30, 2026, compared to 90.9% at September 30, 2025.

Non-interest income totaled $92.6 million, a decrease of $5.6 million, or 5.7%. Service charges increased $1.3 million, or 5.7%, primarily from increased treasury management fee revenue and higher consumer transaction volumes. Wealth management revenues increased $0.8 million, or 3.7%, as trust services income and securities commissions and fees increased 4.3% and 2.9%, respectively, through continued strong contributions across the geographic footprint. Mortgage banking operations income decreased $3.6 million, or 39.4%, driven by tighter gain-on-sale margins and net fair value adjustments given the volatility of interest rates during the quarter. Capital markets income of $6.4 million reflected solid contributions from our numerous businesses while decreasing $1.5 million, or 18.4%, primarily due to the record debt capital markets and international banking income in the year-ago quarter. Other non-interest income decreased $5.5 million, or 59.5%, primarily due to a $5.4 million recovery in the year-ago quarter on an asset that was previously written off as part of a 2017 acquisition.

Non-interest expense totaled $256.9 million, increasing $13.4 million, or 5.5%. When adjusting for ($2.3) million1 of significant items in the third quarter of 2025, operating non-interest expense (non-GAAP) increased $11.1 million, or 4.5%. Net occupancy and equipment increased $6.2 million, or 13.9%, primarily due to technology-related investments and higher occupancy costs. Outside services increased $4.0 million, or 15.3%, driven by higher third-party legal and consulting costs.

The ratio of non-performing loans and OREO to total loans and OREO decreased 4 basis points to 0.33%, and total delinquency increased 10 basis points to 0.75%. Overall asset quality metrics remain at satisfactory levels.

The provision for credit losses was $19.6 million, compared to $24.0 million. The third quarter of 2026 reflected net charge-offs of $11.0 million, or 0.12% annualized of total average loans, compared to $19.7 million, or 0.22% annualized of total average loans. The ACL was $455.5 million, an increase of $18.2 million, with the ratio of the ACL to total loans and leases remaining stable at 1.25%.

The effective tax rate was 20.6%, compared to 21.3% in the third quarter of 2025.

The CET1 regulatory capital ratio was 11.3% (estimated) at September 30, 2026, and 11.1% at September 30, 2025. Tangible book value per common share (non-GAAP) was $12.28 at September 30, 2026, an increase of $0.80, or 7.0%, from $11.48 at September 30, 2025. AOCI reduced tangible book value per common share (non-GAAP) by $0.53 as of September 30, 2026, primarily due to the impact of higher interest rates on the fair value of AFS securities, compared to a reduction of $0.22 at September 30, 2025.

1 

Third quarter 2025 non-interest expense significant items impacting earnings included a ($2.3) million (pre-tax) reduction in the estimated Federal Deposit Insurance Company (FDIC) special assessment related to the 2023 bank failures.

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

Net interest income totaled $376.5 million, an increase of $10.8 million, or 3.0%, primarily due to growth in earning assets, higher yields on earning assets (non-GAAP) and the impact of one more day in the current quarter more than offsetting the slightly higher cost of funds. Net interest margin (FTE) (non-GAAP) was 3.29%, an increase of 4 basis points. The total yield on earning assets (non-GAAP) increased 5 basis points to 5.18%, and the total cost of funds increased 2 basis points to 2.01%. The cost of interest-bearing deposits was stable with only a 1 basis point increase to 2.37%. The FOMC increased the target federal funds rate by 25 basis points in September 2026.

Average loans and leases totaled $36.1 billion, an increase of $613.4 million, or 6.9% annualized, as average consumer loans increased $550.7 million and average commercial loans and leases increased $62.7 million. For consumer lending, average residential mortgages increased $403.9 million driven by seasonal growth in mortgage originations. Average indirect auto loans increased $88.6 million and average consumer lines of credit increased $52.0 million, both reflecting solid organic growth. Average commercial loans and leases growth reflected an increase of $237.4 million in average commercial and industrial loans, partially offset by a decline of $175.2 million in average commercial real estate loans due to continued expected payoff activity. Commercial and industrial loan growth was primarily driven by lower risk-rated, high-quality lending in the Cleveland and Pennsylvania markets.

Average deposits totaled $38.8 billion, an increase of $146.1 million, due to organic growth in new and existing customer relationships. The growth was primarily driven by average money market deposits of $133.2 million, average non-interest-bearing demand deposits of $97.0 million, and average interest-bearing demand deposits of $57.0 million, partially offset by a decline in average time deposits of $151.6 million caused by shifts in customer preferences from higher interest rate expectations. Period-end total deposits increased $870.6 million, or 8.9% annualized. The mix of non-interest-bearing demand deposits to total deposits was stable at 26% for both September 30, 2026, and June 30, 2026. The loan-to-deposit ratio was 92.4% at September 30, 2026, compared to 92.5% at June 30, 2026.

Non-interest income totaled $92.6 million, a decrease of $4.4 million, or 4.5%, from the prior quarter. Service charges increased $0.8 million, or 3.2%, and interchange and card transaction fees increased $0.2 million, or 1.4%, both driven by strong treasury management activity and seasonally higher consumer transactions. Capital markets income of $6.4 million reflected solid contributions from our numerous businesses, while decreasing $1.6 million, or 19.9%, primarily due to strong debt capital markets income in the prior quarter. Other non-interest income decreased $3.3 million, or 46.8%, primarily due to higher residual gains on equipment leases in the prior quarter.

Non-interest expense totaled $256.9 million, an increase of $3.7 million, or 1.5%, compared to the prior quarter. Salaries and employee benefits expense declined $2.8 million, or 2.0%, primarily due to lower variable compensation in the current quarter. Outside services increased $1.8 million, or 6.3%, primarily due to higher third-party legal costs. Net occupancy and equipment increased $1.3 million, or 2.7%, primarily due to technology-related investments. The increase in linked-quarter other non-interest expense of $2.6 million, or 11.2%, reflected higher costs largely related to fraud losses. The efficiency ratio (non-GAAP) totaled 53.7%, stable to the prior quarter.

The ratio of non-performing loans and OREO to total loans and OREO increased 2 basis points to 0.33%, and delinquency increased 4 basis points to 0.75%. Overall asset quality metrics remain at satisfactory levels.

The provision for credit losses was $19.6 million, compared to $21.4 million. The third quarter of 2026 reflected net charge-offs of $11.0 million, or 0.12% annualized of total average loans, compared to $17.0 million, or 0.19% annualized. The ACL was $455.5 million, an increase of $8.1 million, with the ratio of the ACL to total loans and leases remaining stable at 1.25%.

The effective tax rate was 20.6%, compared to 20.9%.

The CET1 regulatory capital ratio was 11.3% (estimated), stable to 11.4% at June 30, 2026. Tangible book value per common share (non-GAAP) was $12.28 at September 30, 2026, an increase of $0.04 per share. AOCI reduced the current quarter-end tangible book value per common share (non-GAAP) by $0.53 as of September 30, 2026, primarily due to the impact of higher interest rates on the fair value of AFS securities, compared to $0.29 at June 30, 2026.

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, 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 financial 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 release 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," "enables," "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 and real estate values, which can be influenced by economic conditions or trends, interest rates, and local market trends;
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;
the impact that shifts in local and regional commercial real estate market conditions, interest rate fluctuations, geographic commercial office space availability and tenant demand and independent appraisal revisions and other factors beyond our control may have on our branch and headquarters properties and other real estate we own;
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 and artificial intelligence solutions 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 related to our use of artificial intelligence in connection with business and operations;
our capability to effectively deploy multi-layered defense strategies to mitigate risks associated with evolving artificial intelligence sourced fraud schemes;
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 third quarter of 2026 after the market close on Monday, October 19, 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 Tuesday, October 20, 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/10212076/104ea4927f4. 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 $52 billion and more than 355 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 and advisory 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

3Q26

3Q26

For the Nine Months Ended
September 30,

%

3Q26

2Q26

3Q25

2Q26

3Q25

2026

2025

Var.

Interest Income

Loans and leases, including fees

$ 509,020

$ 493,541

$ 511,045

3.1

(0.4)

$  1,488,474

$  1,492,386

(0.3)

Securities:

   Taxable

66,947

63,808

59,718

4.9

12.1

191,895

171,736

11.7

   Tax-exempt

6,646

6,685

6,923

(0.6)

(4.0)

20,234

20,781

(2.6)

Other

13,367

13,979

18,286

(4.4)

(26.9)

42,671

53,147

(19.7)

     Total Interest Income 

595,980

578,013

595,972

3.1

—

1,743,274

1,738,050

0.3

Interest Expense

Deposits

172,122

169,114

187,567

1.8

(8.2)

509,917

554,585

(8.1)

Short-term borrowings

24,999

19,522

17,764

28.1

40.7

62,455

51,999

20.1

Long-term borrowings

22,337

23,654

31,369

(5.6)

(28.8)

69,379

101,153

(31.4)

     Total Interest Expense

219,458

212,290

236,700

3.4

(7.3)

641,751

707,737

(9.3)

       Net Interest Income

376,522

365,723

359,272

3.0

4.8

1,101,523

1,030,313

6.9

Provision for credit losses

19,640

21,361

23,991

(8.1)

(18.1)

59,463

67,081

(11.4)

      Net Interest Income After

      Provision for Credit Losses

356,882

344,362

335,281

3.6

6.4

1,042,060

963,232

8.2

Non-Interest Income

Service charges

24,515

23,749

23,191

3.2

5.7

71,034

68,476

3.7

Interchange and card transaction fees

13,494

13,303

13,424

1.4

0.5

39,284

39,048

0.6

Trust services

12,151

12,574

11,647

(3.4)

4.3

37,556

35,638

5.4

Insurance commissions and fees

5,388

5,410

4,495

(0.4)

19.9

17,022

15,396

10.6

Securities commissions and fees

9,129

9,503

8,868

(3.9)

2.9

27,614

26,570

3.9

Capital markets income

6,423

8,014

7,875

(19.9)

(18.4)

21,238

20,095

5.7

Mortgage banking operations

5,569

5,319

9,183

4.7

(39.4)

17,233

22,482

(23.3)

Dividends on non-marketable equity
securities

7,489

6,733

6,110

11.2

22.6

20,467

17,838

14.7

Bank owned life insurance

4,668

5,331

4,208

(12.4)

10.9

14,109

13,396

5.3

Net securities gains (losses)

58

27

—

114.8

—

87

58

50.0

Other

3,715

6,988

9,169

(46.8)

(59.5)

14,891

17,954

(17.1)

     Total Non-Interest Income

92,599

96,951

98,170

(4.5)

(5.7)

280,535

276,951

1.3

Non-Interest Expense

Salaries and employee benefits

132,848

135,603

131,575

(2.0)

1.0

404,158

396,552

1.9

Net occupancy

20,700

20,755

19,161

(0.3)

8.0

64,092

58,218

10.1

Equipment

30,338

28,962

25,662

4.8

18.2

87,391

79,535

9.9

Outside services

30,024

28,246

26,033

6.3

15.3

84,731

77,691

9.1

Marketing

4,332

3,954

5,517

9.6

(21.5)

11,887

15,107

(21.3)

FDIC insurance

8,677

8,278

6,351

4.8

36.6

24,405

23,756

2.7

Bank shares tax

4,443

4,442

3,959

—

12.2

13,462

12,055

11.7

Other

25,581

23,009

25,277

11.2

1.2

77,931

73,657

5.8

     Total Non-Interest Expense

256,943

253,249

243,535

1.5

5.5

768,057

736,571

4.3

Income Before Income Taxes

192,538

188,064

189,916

2.4

1.4

554,538

503,612

10.1

Income tax expense (benefit)

39,676

39,343

40,407

0.8

(1.8)

115,909

106,918

8.4

Net Income

$ 152,862

$ 148,721

$ 149,509

2.8

2.2

$    438,629

$    396,694

10.6

Earnings per Common Share

Basic

$    0.43

$    0.42

$    0.41

2.4

4.9

$        1.23

$        1.10

11.8

Diluted

0.43

0.42

0.41

2.4

4.9

1.23

1.09

12.8

Cash Dividends per Common Share

0.13

0.13

0.12

—

8.3

0.38

0.36

5.6

F.N.B. CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Dollars in millions)

(Unaudited)

% Variance

3Q26

3Q26

3Q26

2Q26

3Q25

2Q26

3Q25

Assets

Cash and due from banks

$      416

$      426

$      474

(2.3)

(12.2)

Interest-bearing deposits with banks

2,110

1,949

1,939

8.3

8.8

Cash and Cash Equivalents

2,526

2,375

2,413

6.4

4.7

Securities available for sale

3,747

3,758

3,620

(0.3)

3.5

Securities held to maturity

4,404

4,251

4,049

3.6

8.8

Loans held for sale

237

290

278

(18.3)

(14.7)

Loans and leases, net of unearned income

36,537

35,769

34,957

2.1

4.5

Allowance for credit losses on loans and leases

(456)

(447)

(437)

2.0

4.3

Net Loans and Leases

36,081

35,322

34,520

2.1

4.5

Premises and equipment, net

585

564

557

3.7

5.0

Goodwill

2,480

2,480

2,480

—

—

Core deposit and other intangible assets, net

27

30

40

(10.0)

(32.5)

Bank owned life insurance

676

674

668

0.3

1.2

Other assets

1,290

1,255

1,264

2.8

2.1

Total Assets

$  52,053

$  50,999

$  49,889

2.1

4.3

Liabilities

Deposits:

Non-interest-bearing

$  10,134

$  10,056

$    9,969

0.8

1.7

Interest-bearing

29,416

28,623

28,472

2.8

3.3

Total Deposits

39,550

38,679

38,441

2.3

2.9

Short-term borrowings

3,001

2,681

1,905

11.9

57.5

Long-term borrowings

1,803

2,002

2,099

(9.9)

(14.1)

Other liabilities

886

798

808

11.0

9.7

Total Liabilities

45,240

44,160

43,253

2.4

4.6

Shareholders' Equity

Common stock

4

4

4

—

—

Additional paid-in capital

4,694

4,691

4,693

0.1

—

Retained earnings

2,646

2,539

2,218

4.2

19.3

Accumulated other comprehensive loss

(187)

(103)

(77)

81.6

142.9

Treasury stock

(344)

(292)

(202)

17.8

70.3

Total Shareholders' Equity

6,813

6,839

6,636

(0.4)

2.7

Total Liabilities and Shareholders' Equity

$  52,053

$  50,999

$  49,889

2.1

4.3

F.N.B. CORPORATION AND SUBSIDIARIES

(Dollars in thousands)

(Unaudited)

3Q26

2Q26

3Q25

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

$ 1,546,215

$ 13,367

3.43 %

$ 1,611,087

$ 13,979

3.48 %

$ 1,738,570

$ 18,286

4.17 %

Taxable investment securities (1)

7,094,947

66,751

3.76

7,011,619

63,611

3.63

6,611,222

59,506

3.60

Tax-exempt investment
securities (1) (2)

951,728

8,405

3.53

958,948

8,460

3.53

1,003,661

8,742

3.48

Loans held for sale

281,326

5,172

7.35

327,705

5,974

7.29

312,034

5,480

7.02

Loans and leases (2) (3)

36,114,741

505,434

5.56

35,501,370

489,113

5.52

34,814,280

507,107

5.79

Total Interest Earning
Assets (2)

45,988,957

599,129

5.18

45,410,729

581,137

5.13

44,479,767

599,121

5.36

Cash and due from banks

385,202

377,777

415,030

Allowance for credit losses

(459,294)

(452,987)

(440,868)

Premises and equipment

575,001

567,661

560,685

Other assets

4,488,218

4,490,908

4,504,231

Total Assets

$ 50,978,084

$  50,394,088

$ 49,518,845

Liabilities

Deposits:

Interest-bearing demand

$ 6,674,309

19,270

1.15

$ 6,617,287

18,393

1.11

$ 6,033,758

15,893

1.05

Money market

11,824,440

86,798

2.91

11,691,192

84,878

2.91

11,380,618

95,708

3.34

Savings

3,106,539

6,924

0.88

3,096,095

6,421

0.83

3,075,982

7,557

0.97

Certificates and other time

7,160,868

59,129

3.28

7,312,462

59,422

3.26

7,495,691

68,409

3.62

Total interest-bearing deposits

28,766,156

172,121

2.37

28,717,036

169,114

2.36

27,986,049

187,567

2.66

Short-term borrowings

2,644,489

24,999

3.75

2,106,129

19,522

3.71

1,682,747

17,764

4.16

Long-term borrowings

1,851,978

22,338

4.79

2,001,579

23,654

4.74

2,511,652

31,369

4.96

Total Interest-Bearing
Liabilities  

33,262,623

219,458

2.62

32,824,744

212,290

2.59

32,180,448

236,700

2.92

Non-interest-bearing demand
deposits

10,039,263

9,942,298

9,905,230

Total Deposits and
Borrowings

43,301,886

2.01

42,767,042

1.99

42,085,678

2.23

Other liabilities

814,313

806,700

856,542

Total Liabilities

44,116,199

43,573,742

42,942,220

Shareholders' Equity

6,861,885

6,820,346

6,576,625

Total Liabilities and 
Shareholders' Equity

$ 50,978,084

$ 50,394,088

$ 49,518,845

Net Interest Earning Assets

$ 12,726,334

$ 12,585,985

$ 12,299,319

Net Interest Income (FTE) (2)

379,671

368,847

362,421

Tax Equivalent Adjustment

(3,149)

(3,124)

(3,149)

Net Interest Income

$  376,522

$  365,723

$ 359,272

Net Interest Spread

2.56 %

2.54 %

2.44 %

Net Interest Margin  (2)

3.29 %

3.25 %

3.25 %

(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

(Dollars in thousands)

(Unaudited)

Nine Months Ended September 30,

2026

2025

Interest

Interest

Average

Income/

Yield/

Average

Income/

Yield/

Balance

Expense

Rate

Balance

Expense

Rate

Assets

Interest-bearing deposits with banks

$ 1,634,508

$    42,671

3.49 %

$ 1,734,300

$   53,147

4.10 %

Taxable investment securities (1)

6,995,234

191,298

3.65

6,546,054

171,096

3.48

Tax-exempt investment securities (1) (2)

967,382

25,600

3.53

1,006,126

26,243

3.48

Loans held for sale

348,135

18,718

7.17

247,438

13,519

7.29

Loans and leases (2) (3)

35,509,872

1,474,405

5.55

34,458,648

1,483,204

5.75

Total Interest Earning Assets (2)

45,455,131

1,752,692

5.15

43,992,566

1,747,209

5.31

Cash and due from banks

378,783

401,509

Allowance for credit losses

(453,116)

(435,677)

Premises and equipment

570,226

551,738

Other assets

4,494,763

4,529,221

Total Assets

$ 50,445,787

$ 49,039,357

Liabilities

Deposits:

Interest-bearing demand

$ 6,611,504

55,837

1.13

$ 6,135,852

51,093

1.11

Money market

11,739,220

256,706

2.92

11,001,664

278,008

3.38

Savings

3,101,693

20,132

0.87

3,083,456

22,497

0.98

Certificates and other time

7,222,049

177,241

3.28

7,321,336

202,987

3.71

Total interest-bearing deposits

28,674,466

509,916

2.38

27,542,308

554,585

2.69

Short-term borrowings

2,245,532

62,455

3.71

1,645,644

51,999

4.21

Long-term borrowings

1,945,677

69,380

4.77

2,692,580

101,153

5.02

Total Interest-Bearing Liabilities  

32,865,675

641,751

2.61

31,880,532

707,737

2.97

Non-interest-bearing demand deposits

9,937,391

9,789,501

Total Deposits and Borrowings

42,803,066

2.00

41,670,033

2.27

Other liabilities

812,575

892,612

Total Liabilities

43,615,641

42,562,645

Shareholders' Equity

6,830,146

6,476,712

Total Liabilities and Shareholders' Equity

$ 50,445,787

$ 49,039,357

Net Interest Earning Assets

$ 12,589,456

$ 12,112,034

Net Interest Income (FTE) (2)

1,110,941

1,039,472

Tax Equivalent Adjustment

(9,418)

(9,159)

Net Interest Income

$ 1,101,523

$ 1,030,313

Net Interest Spread

2.54 %

2.34 %

Net Interest Margin (2)

3.26 %

3.16 %

(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)

For the Nine Months Ended
September 30,

3Q26

2Q26

3Q25

2026

2025

Performance Ratios

Return on average equity

8.84 %

8.75 %

9.02 %

8.59 %

8.19 %

Return on average tangible

common equity (1) 

14.15

14.07

14.94

13.81

13.74

Return on average assets

1.19

1.18

1.20

1.16

1.08

Return on average tangible assets (1) 

1.27

1.27

1.29

1.24

1.17

Net interest margin (FTE) (2)

3.29

3.25

3.25

3.26

3.16

Yield on earning assets (FTE) (2)

5.18

5.13

5.36

5.15

5.31

Cost of interest-bearing deposits

2.37

2.36

2.66

2.38

2.69

Cost of interest-bearing liabilities 

2.62

2.59

2.92

2.61

2.97

Cost of funds 

2.01

1.99

2.23

2.00

2.27

Efficiency ratio (1)

53.71

53.68

52.38

54.47

55.13

Effective tax rate

20.61

20.92

21.28

20.90

21.23

Capital Ratios

Equity / assets

13.09

13.41

13.30

Common equity tier 1 (3)

11.3

11.4

11.1

Leverage

9.26

9.24

8.92

Tangible common equity / tangible assets (1)

8.69

8.93

8.69

Common Stock Data

Average diluted common shares outstanding

354,965,353

357,413,941

361,669,618

357,521,422

362,329,469

Period end common shares outstanding

350,838,483

353,560,084

358,381,940

Book value per common share

$      19.42

$      19.34

$      18.52

Tangible book value per common share (1)

12.28

12.24

11.48

Dividend payout ratio (common)

30.14 %

31.23 %

29.05 %

31.00 %

33.02 %

(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)

September 30, 2026 Common Equity Tier 1 Capital ratio is an estimate.

F.N.B. CORPORATION AND SUBSIDIARIES

(Dollars in millions)

(Unaudited)

% Variance

3Q26

3Q26

3Q26

2Q26

3Q25

2Q26

3Q25

Balances at period end

Loans and Leases:

Commercial real estate (1)

$  11,945

$  12,035

$  12,568

(0.7)

(5.0)

Commercial and industrial 

8,601

8,194

7,590

5.0

13.3

Commercial leases

799

802

829

(0.4)

(3.6)

Other

159

140

153

13.6

3.9

Commercial loans and leases

21,504

21,171

21,140

1.6

1.7

Direct installment

2,654

2,654

2,678

—

(0.9)

Residential mortgages

9,738

9,471

8,888

2.8

9.6

Indirect installment

964

852

767

13.1

25.7

Consumer LOC

1,677

1,621

1,484

3.5

13.0

Consumer loans

15,033

14,598

13,817

3.0

8.8

Total loans and leases

$  36,537

$  35,769

$  34,957

2.1

4.5

Note: Loans held for sale were $237, $290 and $278 at 3Q26, 2Q26, and 3Q25, respectively.

(1) Commercial real estate is made up of 67% non-owner occupied and 33% owner-occupied at September 30, 2026.

% Variance

Average balances

3Q26

3Q26

For the Nine Months
Ended
September 30,

%

Loans and Leases:

3Q26

2Q26

3Q25

2Q26

3Q25

2026

2025

Var.

Commercial real estate 

$  11,924

$  12,099

$  12,659

(1.4)

(5.8)

$  12,067

$  12,714

(5.1)

Commercial and industrial

8,429

8,192

7,573

2.9

11.3

8,168

7,581

7.7

Commercial leases

788

797

789

(1.1)

(0.2)

791

777

1.7

Other

149

140

153

6.8

(2.4)

145

153

(5.8)

Commercial loans and leases

21,290

21,227

21,174

0.3

0.5

21,170

21,225

(0.3)

Direct installment

2,655

2,649

2,671

0.2

(0.6)

2,657

2,667

(0.4)

Residential mortgages

9,614

9,210

8,736

4.4

10.0

9,251

8,381

10.4

Indirect installment

912

823

777

10.8

17.4

842

772

9.0

Consumer LOC

1,644

1,592

1,456

3.3

12.9

1,591

1,413

12.6

Consumer loans

14,825

14,274

13,640

3.9

8.7

14,340

13,234

8.4

Total loans and leases

$  36,115

$  35,501

$  34,814

1.7

3.7

$  35,510

$  34,459

3.1

F.N.B. CORPORATION AND SUBSIDIARIES

(Dollars in millions)

(Unaudited)

% Variance

3Q26

3Q26

Asset Quality Data

3Q26

2Q26

3Q25

2Q26

3Q25

Non-Performing Assets

Non-performing loans

$  119

$   110

$   125

8.2

(4.8)

Other real estate owned (OREO)

2

2

3

—

(33.3)

Non-performing assets

$  121

$   112

$   128

8.0

(5.5)

Non-performing loans / total loans and leases

0.33 %

0.31 %

0.36 %

Non-performing assets plus 90+ days past due / total loans and leases
plus OREO

0.47

0.46

0.40

Non-performing loans plus OREO / total loans and leases plus OREO

0.33

0.31

0.37

Delinquency

Loans 30-89 days past due

$  105

$    92

$    89

14.1

18.0

Loans 90+ days past due

52

51

13

2.0

300.0

Non-accrual loans

119

110

125

8.2

(4.8)

Past due and non-accrual loans

$  276

$   253

$   227

9.1

21.6

Past due and non-accrual loans / total loans and leases

0.75 %

0.71 %

0.65 %

F.N.B. CORPORATION AND SUBSIDIARIES

(Dollars in millions)

% Variance

(Unaudited)

3Q26

3Q26

For the Nine Months
Ended
September 30,

%

Allowance on Loans and Leases and Allowance for Unfunded Loan
Commitments Rollforward

3Q26

2Q26

3Q25

2Q26

3Q25

2026

2025

Var.

Allowance for Credit Losses on Loans and Leases

Balance at beginning of period

$ 447.3

$ 443.0

$ 432.1

1.0

3.5

$ 439.5

$ 422.8

4.0

Provision for credit losses 

19.2

21.3

24.9

(10.0)

(23.0)

59.8

68.5

(12.6)

Net loan (charge-offs) / recoveries

(11.0)

(17.0)

(19.7)

(35.2)

(44.0)

(43.9)

(54.0)

(18.8)

Allowance for credit losses on loans and leases

$ 455.5

$ 447.3

$ 437.3

1.8

4.2

$ 455.5

$ 437.3

4.2

Allowance for Unfunded Loan Commitments

Allowance for unfunded loan commitments balance at beginning of period

$   19.1

$   19.2

$   21.0

(0.4)

(8.9)

$   20.1

$   21.4

(5.9)

Provision (reduction in allowance) for unfunded loan commitments / other
adjustments

0.4

(0.1)

(0.9)

546.3

142.6

(0.6)

(1.3)

49.7

Allowance for unfunded loan commitments

$   19.5

$   19.1

$   20.1

1.9

(3.1)

$   19.5

$   20.1

(3.1)

Total allowance for credit losses on loans and leases and allowance for
unfunded loan commitments

$ 475.0

$ 466.4

$ 457.4

1.8

3.8

$ 475.0

$ 457.4

3.8

Allowance for credit losses on loans and leases / total loans and leases

1.25 %

1.25 %

1.25 %

Allowance for credit losses on loans and leases / total non-performing loans

382.1

404.3

349.9

Net loan charge-offs (annualized) / total average loans and leases

0.12

0.19

0.22

0.17 %

0.21 %

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

3Q26

3Q26

For the Nine
Months Ended
September 30,

%

3Q26

2Q26

3Q25

2Q26

3Q25

2026

2025

Var.

Operating net income available to common
shareholders

(dollars in thousands)

Net income available to common
shareholders

$ 152,862

$ 148,721

$ 149,509

$ 438,629

$ 396,694

FDIC special assessment

—

—

(2,272)

—

(2,272)

Tax expense (benefit) of FDIC special
assessment

—

—

477

—

477

Operating net income available to common
shareholders (non-GAAP)

$ 152,862

$ 148,721

$ 147,714

2.8

3.5

$ 438,629

$ 394,899

11.1

Operating earnings per diluted common
share

Earnings per diluted common share

$    0.43

$    0.42

$    0.41

$    1.23

$    1.09

FDIC special assessment

—

—

(0.01)

—

(0.01)

Tax expense (benefit) of FDIC special
assessment

—

—

—

—

—

Operating earnings per diluted common
share (non-GAAP)

$    0.43

$    0.42

$    0.41

2.4

4.9

$    1.23

$    1.09

12.8

F.N.B. CORPORATION AND SUBSIDIARIES

(Unaudited)

For the Nine Months Ended
September 30,

3Q26

2Q26

3Q25

2026

2025

Return on average tangible common equity

(dollars in thousands)

Net income available to common shareholders
(annualized)

$    606,465

$    596,518

$    593,162

$    586,445

$    530,379

Amortization of intangibles, net of tax
(annualized)

9,552

9,761

12,507

10,012

12,578

Tangible net income available to common
shareholders (annualized) (non-GAAP)

$    616,017

$    606,279

$    605,669

$    596,457

$    542,957

Average total shareholders' equity

$  6,861,885

$  6,820,346

$  6,576,625

$  6,830,146

$  6,476,712

Less: Average intangible assets (1)

(2,508,078)

(2,511,122)

(2,522,022)

(2,511,147)

(2,524,978)

Average tangible common equity (non-GAAP)

$  4,353,807

$  4,309,224

$  4,054,603

$  4,318,999

$  3,951,734

Return on average tangible common equity
(non-GAAP)

14.15 %

14.07 %

14.94 %

13.81 %

13.74 %

Return on average tangible assets

(dollars in thousands)

Net income (annualized)

$    606,465

$    596,518

$    593,162

$    586,445

$    530,379

Amortization of intangibles, net of tax
(annualized)

9,552

9,761

12,507

10,012

12,578

Tangible net income (annualized) (non-GAAP)

$    616,017

$    606,279

$    605,669

$    596,457

$    542,957

Average total assets

$ 50,978,084

$ 50,394,088

$ 49,518,845

$ 50,445,787

$ 49,039,357

Less: Average intangible assets (1)

(2,508,078)

(2,511,122)

(2,522,022)

(2,511,147)

(2,524,978)

Average tangible assets (non-GAAP)

$ 48,470,006

$ 47,882,966

$ 46,996,823

$ 47,934,640

$ 46,514,379

Return on average tangible assets (non-GAAP)

1.27 %

1.27 %

1.29 %

1.24 %

1.17 %

(1) Excludes loan servicing rights.

F.N.B. CORPORATION AND SUBSIDIARIES

(Unaudited)

3Q26

2Q26

3Q25

Tangible book value per common share

(dollars in thousands, except per share data)

Total shareholders' equity

$  6,813,263

$  6,838,456

$  6,635,620

Less:  Intangible assets (1)

(2,506,602)

(2,509,651)

(2,520,013)

Tangible common equity (non-GAAP)

$  4,306,661

$  4,328,805

$  4,115,607

Common shares outstanding

350,838,483

353,560,084

358,381,940

Tangible book value per common share (non-GAAP)

$       12.28

$       12.24

$       11.48

Tangible common equity to tangible assets

(dollars in thousands)

Total shareholders' equity

$  6,813,263

$  6,838,456

$  6,635,620

Less:  Intangible assets (1)

(2,506,602)

(2,509,651)

(2,520,013)

Tangible common equity (non-GAAP)

$  4,306,661

$  4,328,805

$  4,115,607

Total assets

$ 52,053,325

$ 50,998,603

$ 49,888,522

Less:  Intangible assets (1)

(2,506,602)

(2,509,651)

(2,520,013)

Tangible assets (non-GAAP)

$ 49,546,723

$ 48,488,952

$ 47,368,509

Tangible common equity to tangible assets (non-GAAP)

8.69 %

8.93 %

8.69 %

(1) Excludes loan servicing rights.

F.N.B. CORPORATION AND SUBSIDIARIES

(Unaudited)

For the Nine Months
Ended
September 30,

3Q26

2Q26

3Q25

2026

2025

Pre-provision net revenue

(in thousands)

Net interest income

$  376,522

$  365,723

$  359,272

$ 1,101,523

$ 1,030,313

Non-interest income

92,599

96,951

98,170

280,535

276,951

Less: Non-interest expense

(256,943)

(253,249)

(243,535)

(768,057)

(736,571)

Pre-provision net revenue (reported) (non-GAAP)

$  212,178

$  209,425

$  213,907

$  614,001

$  570,693

Pre-provision net revenue (reported) (annualized)
(non-GAAP)

$  841,792

$  840,000

$  848,651

$  820,918

$  763,015

Adjustments:

Add (Less): FDIC special assessment (non-
interest expense)

—

—

(2,272)

—

(2,272)

Operating pre-provision net revenue (non-GAAP)

$  212,178

$  209,425

$  211,635

$  614,001

$  568,421

Operating pre-provision net revenue (annualized)
(non-GAAP)

$  841,792

$  840,000

$  839,637

$  820,918

$  759,977

Efficiency ratio (FTE)

(dollars in thousands)

Total non-interest expense

$  256,943

$  253,249

$  243,535

$  768,057

$  736,571

Less: Amortization of intangibles

(3,048)

(3,081)

(3,991)

(9,479)

(11,909)

Less: OREO expense

(251)

(147)

(578)

(634)

(1,209)

Add (Less): FDIC special assessment

—

—

2,272

—

2,272

Adjusted non-interest expense

$  253,644

$  250,021

$  241,238

$  757,944

$  725,725

Net interest income

$  376,522

$  365,723

$  359,272

$ 1,101,523

$ 1,030,313

Taxable equivalent adjustment

3,149

3,124

3,149

9,418

9,159

Non-interest income

92,599

96,951

98,170

280,535

276,951

Less:  Net securities losses (gains)

(58)

(27)

—

(87)

(58)

Adjusted net interest income (FTE) + non-interest
income

$  472,212

$  465,771

$  460,591

$ 1,391,389

$ 1,316,365

Efficiency ratio (FTE) (non-GAAP)

53.71 %

53.68 %

52.38 %

54.47 %

55.13 %

SOURCE F.N.B. Corporation

F.N.B. Corporation (NYSE:FNB) will release its third-quarter earnings report after the closing bell on Monday, Oct. 19.

Analysts expect the Pittsburgh, Pennsylvania-based company to report quarterly earnings of 43 cents per share, up from 41 cents per share in the year-ago period. The consensus estimate for FNB’s quarterly revenue is $476.2 million. It reported $457.44 million last year, according to Benzinga Pro.

On July 29, F.N.B. declared cash dividend of 13 cents per share on common stock.

FNB shares fell 1.3% to close at $17.06 on Friday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

Truist Securities analyst John McDonald maintained a Buy rating and cut the price target from $20.5 to $19 on Oct. 9, 2026. This analyst has an accuracy rate of 60%.
Wells Fargo analyst Terry McEvoy maintained an Overweight rating and cut the price target from $22 to $21 on Sept. 30, 2026. This analyst has an accuracy rate of 67%.
UBS analyst Timur Braziler initiated coverage on the stock with a Neutral rating and a price target of $20 on Sept. 14, 2026. This analyst has an accuracy rate of 69%.
B of A Securities analyst Brandon Berman downgraded the stock from Buy to Neutral and lowered the price target from $20 to $19 on July 20, 2026. This analyst has an accuracy rate of 51%.
Piper Sandler analyst Manuel Navas maintained an Overweight rating and raised the price target from $21 to $22 on June 26, 2026. This analyst has an accuracy rate of 52%.
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Considering buying FNB stock? Here’s what analysts think:

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Key Takeaways FNB is broadening Family Wealth with investment, estate, tax, succession and fiduciary services.First-half 2026 non-interest income rose 5.1% to $188 million as total revenue reached a record $913 million.FNB maintained its 2026 non-interest income outlook of $370-$390 million despite first-half growth. F.N.B. Corporation (FNB - Free Report) is accelerating its push into higher-margin wealth management businesses as it seeks to expand recurring fee income and deepen relationships with ultra-high-net-worth clients.

The Pittsburgh-based bank has broadened its ‘F.N.B. Private Family Wealth’ platform, introducing enhanced advisory capabilities tailored to affluent families and business owners. The expanded offering integrates traditional and alternative investment management with estate planning, tax optimization, wealth transfer strategies, succession planning and fiduciary services. It also connects clients to FNB’s investment banking, private banking, mortgage and insurance solutions through a unified advisory model designed to increase wallet share.

To support the initiative, F.N.B. Corp. has added senior leadership talent, including Benjamin J. Ciocco as Director of Family Wealth and Fiduciary Services and Frank J. Aloi as Chief Market Strategist for Family Wealth. The pair bring decades of experience across investment strategy, private markets and institutional advisory services, strengthening the bank’s ability to deliver bespoke, “family office-style” solutions.

The expansion aligns with FNB’s broader strategy of diversifying revenue beyond net interest income and scaling fee-generating businesses. While the bank already operates across commercial banking, asset management and insurance, providing a strong cross-selling foundation, recent performance underscores the opportunity. In the first half of 2026, FNB reported non-interest income of $188 million, up 5.1% year over year, alongside record total revenue of $913 million, reflecting steady momentum in its diversified business lines.

Revenue Trend

Image Source: Zacks Investment Research

Despite a solid first-half performance, F.N.B. Corp. reaffirmed its 2026 non-interest income outlook of $370-$390 million, with third-quarter fee income projected at $93-$98 million. Given second-quarter non-interest income of $97 million, the guidance suggests management expects fee revenues will remain relatively stable in the second half.

By expanding its Family Wealth platform, FNB is strengthening its ability to generate recurring advisory revenues, deepen client relationships and capture a larger share of wealth across generations. This could support sustained fee income growth over the long term.

F.N.B. Corp’s Price Performance and Zacks RankOver the past year, shares of FNB have gained 20.5%, outperforming the industry's 13.6% growth.

1 Year Price Performance

Image Source: Zacks Investment Research

At present, F.N.B. Corp. carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Banks Taking Steps to Bolster Fee IncomeLast week, KeyCorp (KEY - Free Report) completed the acquisition of Clearwater Corporate Finance LLP ("Clearwater UK"), a U.K.-based middle-market investment banking advisory firm. The transaction marks another step in expanding the company's advisory business and establishes its presence in the Western European market.

Building on a collaboration between KeyBanc Capital Markets and Clearwater UK that began in 2020, the acquisition strengthens KeyCorp's middle-market M&A capabilities and enhances opportunities to serve U.S. and European corporate and private equity clients. The acquisition complements KeyCorp's strategy of expanding its investment banking franchise and growing fee-based businesses.

In July, Citigroup (C - Free Report) became a clearing member of London Precious Metals Clearing Limited (LPMCL). The designation enables the bank to provide Loco London settlement services for gold, silver, platinum and palladium, expanding its role in one of the world’s largest over-the-counter bullion markets.

Direct participation in the clearing process is expected to improve execution efficiency for institutional clients while reinforcing the bank’s market infrastructure capabilities and deepening client relationships. While the move is not expected to have a meaningful impact on near-term earnings, it supports Citigroup’s broader strategy of expanding capital-light, fee-generating businesses.

Record Revenue of $462.7 million Drove EPS Growth of 16.7% Year-Over-Year

, /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) reported earnings for the second quarter of 2026 with net income of $148.7 million, or $0.42 per diluted common share. Comparatively, second quarter 2025 net income totaled $130.7 million, or $0.36 per diluted common share, and first quarter 2026 net income totaled $137.0 million, or $0.38 per diluted common share.

"F.N.B. Corporation's second quarter results reflect the successful execution of our technology-focused strategic business model, highlighted by a 17% year-over-year increase in EPS to $0.42. Record revenue of $463 million drove a 9% year-over-year increase in pre-provision net revenue (non-GAAP) and another quarter of positive operating leverage. Tangible book value per common share (non-GAAP) increased 10% compared to June 30, 2025, and return on average tangible common equity (non-GAAP) equaled 14%," said F.N.B. Corporation Chairman, President and Chief Executive Officer, Vincent J. Delie, Jr. "Average loans and leases grew 7% annualized linked-quarter while maintaining our strict credit discipline and originating high-quality assets in a volatile geopolitical and macroeconomic environment. Average non-interest-bearing deposit balances grew nearly 5% annualized from the prior quarter leading to a 26% mix of non-interest-bearing to total deposits for the seventh consecutive quarter. Our investments in digital capabilities, data analytics and artificial intelligence enable us to gain efficiency and deepen household penetration, expanding our position as the primary bank for our consumer, advisory and commercial customers."

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

Average loans and leases totaled $35.5 billion, an increase of $1.0 billion, or 2.9%, as the growth of $1.1 billion in consumer loans more than offset a slight decrease of $66.7 million in commercial loans and leases. On a linked-quarter basis, total average loans and leases increased $601.2 million, or 6.9% annualized, driven by growth in consumer loans and commercial loans and leases of $362.6 million and $238.6 million, respectively. Average deposits totaled $38.7 billion, an increase of $1.5 billion, or 4.1%, reflecting growth in average money market deposits of $727.3 million, average interest-bearing demand deposits of $541.0 million, average non-interest-bearing demand deposits of $129.8 million, average time deposits of $71.0 million and average savings deposits of $65.4 million. On a linked-quarter basis, total average deposits increased $293.3 million, or 3.1% annualized, driven by growth in average time deposits of $119.3 million, average non-interest-bearing demand deposits of $114.0 million and average interest-bearing demand deposits of $75.8 million. The loan-to-deposit ratio was 92.5% at June 30, 2026, compared to 90.3% at March 31, 2026, and 91.9% at June 30, 2025. Net interest income totaled $365.7 million, an increase of $6.4 million, or 1.8%, linked-quarter, primarily due to growth in earning assets, lower cost of funds and the impact of one more day in the current quarter. Net interest margin (FTE) (non-GAAP) equaled 3.25%, stable to the first quarter 2026 level. Strong non-interest income totaled $97.0 million, an increase of $6.0 million, or 6.6%, linked-quarter, benefiting from our diversified business model and related revenue generation. Pre-provision net revenue (non-GAAP) totaled $209.4 million, an 8.8% increase from the prior quarter, driven by continued strong non-interest income generation and growth in net interest income. Provision for credit losses was $21.4 million, an increase of $2.9 million from the prior quarter, with net charge-offs of $17.0 million, or 0.19% annualized of total average loans, compared to $15.9 million, or 0.18% annualized, in the prior quarter. The ratio of non-performing loans and other real estate owned (OREO) to total loans and leases and OREO decreased 3 basis points from the prior quarter to 0.31%, and total delinquency decreased 3 basis points from the prior quarter to 0.71%. The allowance for credit losses (ACL) to total loans and leases ratio decreased 1 basis point to 1.25%. 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 10.8% at June 30, 2025, and 11.4% at March 31, 2026. The tangible common equity to tangible assets ratio (non-GAAP) equaled 8.9%, compared to 8.5% at June 30, 2025, and 8.9% at March 31, 2026. Tangible book value per common share (non-GAAP) of $12.24 increased $1.10, or 9.9%, compared to June 30, 2025, and $0.18, or 1.5%, compared to March 31, 2026. During the second quarter of 2026, the Company repurchased $47 million, or 2.7 million shares, of common stock at a weighted average share price of $17.46. Non-GAAP financial 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 financial 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

2Q26

1Q26

2Q25

Reported results (b)

Net income available to common shareholders (millions)

$   148.7

$   137.0

$   130.7

Earnings per diluted common share

0.42

0.38

0.36

Book value per common share

19.34

19.12

18.17

Pre-provision net revenue (non-GAAP) (millions)

209.4

192.4

192.0

Average diluted common shares outstanding (thousands)

357,414

360,235

362,259

Capital measures

Common equity tier 1 (a)

11.4 %

11.4 %

10.8 %

Tangible common equity to tangible assets (non-GAAP)

8.93

8.91

8.47

Tangible book value per common share (non-GAAP)

$   12.24

$   12.06

$   11.14

(a) Estimated for 2Q26.

(b) Operating results equaled reported results as there were no significant items impacting earnings for the periods presented.

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

Net interest income totaled $365.7 million, an increase of $18.5 million, or 5.3%, 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 6 basis points to 3.25%. The yield on earning assets (non-GAAP) decreased 20 basis points to 5.13%, driven by a 27 basis point decline in yields on loans to 5.52%. Total cost of funds decreased 27 basis points to 1.99%, with a 50 basis point decrease in total borrowing costs to 4.21%, and a 30 basis point decrease in interest-bearing deposit costs to 2.36%. The Federal Open Market Committee FOMC has lowered the target federal funds rate by 175 basis points since August 2024.

Average loans and leases totaled $35.5 billion, an increase of $998.9 million, or 2.9%, including growth of $1.1 billion in consumer loans which more than offset a decrease of $66.7 million in commercial loans and leases. Average commercial and industrial loans increased $599.6 million, or 7.9%, and average commercial leases increased $20.8 million, or 2.7%, partially offsetting the decline in average commercial real estate loans of $668.1 million, or 5.2%. Solid commercial and industrial loan growth in the Charlotte and South Carolina markets was offset by expected commercial real estate loan payoffs. Equipment Finance also produced strong loan growth. Average consumer loans included an $858.4 million, or 10.3%, increase in residential mortgage loans largely due to the continued successful execution in key markets and long-standing strategy of serving the purchase market, partially offset by the sale of approximately $200 million of performing residential mortgage loans in February 2026. Average consumer lines of credit increased $181.5 million, or 12.9%, and indirect auto loans increased $43.1 million, or 5.5%, both reflecting solid organic growth in the respective portfolios.

Average deposits totaled $38.7 billion, an increase of $1.5 billion, or 4.1%, with growth in average money market deposits of $727.3 million, average interest-bearing demand deposits of $541.0 million, average non-interest-bearing demand deposits of $129.8 million, average time deposits of $71.0 million and average savings deposits of $65.4 million. The mix of non-interest-bearing demand deposits to total deposits was stable at 26% at both June 30, 2026, and June 30, 2025. The loan-to-deposit ratio was 92.5% at June 30, 2026, compared to 91.9% at June 30, 2025.

Non-interest income totaled $97.0 million, an increase of $5.9 million, or 6.5%. Wealth management revenues increased $1.6 million, or 7.8%, as trust services income and securities commissions and fees increased 8.5% and 7.0%, respectively, through continued strong contributions across the geographic footprint. Capital markets income increased $1.1 million, or 16.2%, reflecting solid revenue from international banking income, customer interest rate derivatives and debt capital markets, and early contributions from investment banking and public finance. Bank-owned life insurance increased $1.5 million, reflecting higher life insurance claims. Other non-interest income increased $1.0 million, or 16.8%, primarily due to higher residual gains on equipment leases.

Non-interest expense totaled $253.2 million, increasing $7.0 million, or 2.9%. Salaries and employee benefits increased $5.8 million, or 4.4%, primarily reflecting normal annual merit increases and strategic hiring associated with our efforts to grow market share and support strategic technology initiatives. Outside services increased $2.9 million, or 11.6%, driven by higher third-party legal and consulting costs. Net occupancy and equipment increased $2.4 million, or 5.1%, primarily due to technology-related investments and higher occupancy costs.

The ratio of non-performing loans and OREO to total loans and OREO decreased 3 basis points to 0.31%. Total delinquency increased 9 basis points to 0.71%. Overall, asset quality metrics remain at solid levels.

The provision for credit losses was $21.4 million, compared to $25.6 million. The second quarter of 2026 reflected net charge-offs of $17.0 million, or 0.19% annualized of total average loans, compared to $21.8 million, or 0.25% annualized, reflecting continued proactive management of the loan portfolio. The ACL was $447.3 million, an increase of $15.3 million, with the ratio of the ACL to total loans and leases remaining stable at 1.25%.

The effective tax rate was 20.9%, compared to 21.5% in the second quarter of 2025.

The CET1 regulatory capital ratio was 11.4% (estimated) at June 30, 2026, and 10.8% at June 30, 2025. Tangible book value per common share (non-GAAP) was $12.24 at June 30, 2026, an increase of $1.10, or 9.9%, from $11.14 at June 30, 2025. AOCI reduced the current quarter's tangible book value per common share (non-GAAP) by $0.29, compared to a reduction of $0.26 at the end of the year-ago quarter.

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

Net interest income totaled $365.7 million, an increase of $6.4 million, or 1.8%, primarily due to growth in earning assets, lower cost of funds and the impact of one more day in the current quarter. The total yield on earning assets (non-GAAP) decreased 1 basis point to 5.13%, and the total cost of funds decreased 2 basis points to 1.99%, as the cost of interest-bearing deposits decreased 4 basis points to 2.36%. The resulting net interest margin (FTE) (non-GAAP) was 3.25%, stable to the prior quarter.

Average loans and leases totaled $35.5 billion, an increase of $601.2 million, or 6.9% annualized, as average consumer loans increased $362.6 million and average commercial loans and leases increased $238.6 million. For consumer lending, average residential mortgages increased $288.9 million driven by seasonal growth in mortgage originations. Average consumer lines of credit increased $55.3 million and indirect auto loans increased $35.9 million, both reflecting solid organic growth in the respective portfolios. Average commercial loans and leases growth reflected an increase of $336.5 million in average commercial and industrial loans and $9.8 million in average commercial leases, partially offset by a decline of $103.2 million in average commercial real estate loans due to continued expected payoff activity. Commercial and industrial loan growth was primarily driven by lower risk-rated, high-quality lending in the Mid-Atlantic, Pittsburgh and Charlotte markets.

Average deposits totaled $38.7 billion, an increase of $293.3 million, due to organic growth in new and existing customer relationships. The growth was primarily driven by average time deposits of $119.3 million, average non-interest-bearing demand deposits of $114.0 million, and average interest-bearing demand deposits of $75.8 million. The mix of non-interest-bearing demand deposits to total deposits was stable at 26% for both June 30, 2026, and March 31, 2026. The loan-to-deposit ratio totaled 92.5% at June 30, 2026, compared to 90.3% at March 31, 2026, as loan growth exceeded deposit growth at quarter end.

Non-interest income totaled $97.0 million, an increase of $6.0 million, or 6.6%, from the prior quarter. Capital markets income increased $1.2 million, or 17.8%, with solid revenue from customer interest rate derivatives, international banking and debt capital markets, and early contributions from investment banking and public finance. Bank-owned life insurance increased $1.2 million, reflecting higher life insurance claims. Service charges increased $1.0 million, or 4.3%, and interchange and card transaction fees increased $0.8 million, or 6.5%, both driven by strong treasury management activity, as well as seasonally-higher consumer transactions. Mortgage banking operations income decreased $1.0 million, or 16.2%, driven by net fair value adjustments from pipeline hedging activity given the volatility of interest rates during the quarter. Other non-interest income increased $2.8 million, or 66.9%, primarily due to higher residual gains on equipment leases.

Non-interest expense totaled $253.2 million, a decrease of $4.6 million, or 1.8%, compared to the prior quarter. Salaries and employee benefits expense was flat as the declines from the seasonally-elevated long-term compensation and employer-paid payroll taxes expense in the first quarter were offset by increases in production-related compensation and merit-related increases in salaries in the current quarter. Net occupancy and equipment decreased $1.0 million, or 2.0%, primarily due to unusually high snow removal costs in the prior quarter. Outside services increased $1.8 million, or 6.7%, primarily due to higher third-party legal costs. The decline in linked-quarter other non-interest expense of $6.3 million, or 21.6%, reflected lower costs related to fraud losses, litigation, and the Community Uplift program. The efficiency ratio (non-GAAP) totaled 53.7%, compared to 56.1% in the prior quarter.

The ratio of non-performing loans and OREO to total loans and OREO decreased 3 basis points to 0.31%, and delinquency decreased 3 basis points to 0.71%. Overall, asset quality metrics remain at solid levels.

The provision for credit losses was $21.4 million, compared to $18.5 million. The second quarter of 2026 reflected net charge-offs of $17.0 million, or 0.19% annualized of total average loans, compared to $15.9 million, or 0.18% annualized, reflecting continued proactive management of the loan portfolio. The ACL was $447.3 million, an increase of $4.3 million, with the ratio of the ACL to total loans and leases decreasing 1 basis point to 1.25%.

The effective tax rate was 20.9%, compared to 21.2%.

The CET1 regulatory capital ratio was 11.4% (estimated), stable to 11.4% at March 31, 2026. Tangible book value per common share (non-GAAP) was $12.24 at June 30, 2026, an increase of $0.18 per share. AOCI reduced the current quarter-end tangible book value per common share (non-GAAP) by $0.29 as of June 30, 2026, compared to $0.24 at the end of the prior quarter.

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 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, pre-provision net revenue (reported), 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 financial 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."

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 release 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 second quarter of 2026 after the market close on Thursday, July 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, July 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/10210232/1045fa3ff88. 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 $51 billion and more than 355 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 and advisory 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

2Q26

2Q26

For the Six Months Ended
June 30,

%

2Q26

1Q26

2Q25

1Q26

2Q25

2026

2025

Var.

Interest Income

Loans and leases, including fees

$ 493,541

$ 485,913

$ 500,767

1.6

(1.4)

$    979,454

$    981,341

(0.2)

Securities:

   Taxable

63,808

61,140

57,168

4.4

11.6

124,948

112,018

11.5

   Tax-exempt

6,685

6,903

6,918

(3.2)

(3.4)

13,588

13,858

(1.9)

Other

13,979

15,325

17,788

(8.8)

(21.4)

29,304

34,861

(15.9)

     Total Interest Income 

578,013

569,281

582,641

1.5

(0.8)

1,147,294

1,142,078

0.5

Interest Expense

Deposits

169,114

168,681

181,190

0.3

(6.7)

337,795

367,018

(8.0)

Short-term borrowings

19,522

17,934

20,132

8.9

(3.0)

37,456

34,235

9.4

Long-term borrowings

23,654

23,388

34,123

1.1

(30.7)

47,042

69,784

(32.6)

     Total Interest Expense

212,290

210,003

235,445

1.1

(9.8)

422,293

471,037

(10.3)

       Net Interest Income

365,723

359,278

347,196

1.8

5.3

725,001

671,041

8.0

Provision for credit losses

21,361

18,462

25,601

15.7

(16.6)

39,823

43,090

(7.6)

      Net Interest Income After

      Provision for Credit Losses

344,362

340,816

321,595

1.0

7.1

685,178

627,951

9.1

Non-Interest Income

Service charges

23,749

22,770

22,930

4.3

3.6

46,519

45,285

2.7

Interchange and card transaction fees

13,303

12,487

13,254

6.5

0.4

25,790

25,624

0.6

Trust services

12,574

12,831

11,591

(2.0)

8.5

25,405

23,991

5.9

Insurance commissions and fees

5,410

6,224

5,108

(13.1)

5.9

11,634

10,901

6.7

Securities commissions and fees

9,503

8,982

8,882

5.8

7.0

18,485

17,702

4.4

Capital markets income

8,014

6,801

6,897

17.8

16.2

14,815

12,220

21.2

Mortgage banking operations

5,319

6,345

6,306

(16.2)

(15.7)

11,664

13,299

(12.3)

Dividends on non-marketable equity
securities

6,733

6,245

6,168

7.8

9.2

12,978

11,728

10.7

Bank owned life insurance

5,331

4,110

3,838

29.7

38.9

9,441

9,188

2.8

Net securities gains (losses)

27

2

58

n/m

(53.4)

29

58

(50.0)

Other

6,988

4,188

5,983

66.9

16.8

11,176

8,785

27.2

     Total Non-Interest Income

96,951

90,985

91,015

6.6

6.5

187,936

178,781

5.1

Non-Interest Expense

Salaries and employee benefits

135,603

135,707

129,842

(0.1)

4.4

271,310

264,977

2.4

Net occupancy

20,755

22,637

19,299

(8.3)

7.5

43,392

39,057

11.1

Equipment

28,962

28,091

27,988

3.1

3.5

57,053

53,873

5.9

Outside services

28,246

26,461

25,317

6.7

11.6

54,707

51,658

5.9

Marketing

3,954

3,601

5,017

9.8

(21.2)

7,555

9,590

(21.2)

FDIC insurance

8,278

7,450

8,922

11.1

(7.2)

15,728

17,405

(9.6)

Bank shares tax

4,442

4,577

3,960

(2.9)

12.2

9,019

8,096

11.4

Other

23,009

29,341

25,880

(21.6)

(11.1)

52,350

48,380

8.2

     Total Non-Interest Expense

253,249

257,865

246,225

(1.8)

2.9

511,114

493,036

3.7

Income Before Income Taxes

188,064

173,936

166,385

8.1

13.0

362,000

313,696

15.4

Income tax expense (benefit)

39,343

36,890

35,715

6.6

10.2

76,233

66,511

14.6

Net Income

$ 148,721

$ 137,046

$ 130,670

8.5

13.8

$    285,767

$    247,185

15.6

Earnings per Common Share

Basic

$       0.42

$       0.38

$       0.36

10.5

16.7

$          0.80

$          0.68

17.6

Diluted

0.42

0.38

0.36

10.5

16.7

0.80

0.68

17.6

Cash Dividends per Common Share

0.13

0.12

0.12

8.3

8.3

0.25

0.24

4.2

n/m - not meaningful

F.N.B. CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Dollars in millions)

(Unaudited)

% Variance

2Q26

2Q26

2Q26

1Q26

2Q25

1Q26

2Q25

Assets

Cash and due from banks

$       426

$       452

$       535

(5.8)

(20.4)

Interest-bearing deposits with banks

1,949

2,207

1,892

(11.7)

3.0

Cash and Cash Equivalents

2,375

2,659

2,427

(10.7)

(2.1)

Securities available for sale

3,758

3,775

3,580

(0.5)

5.0

Securities held to maturity

4,251

4,183

4,115

1.6

3.3

Loans held for sale

290

321

296

(9.7)

(2.0)

Loans and leases, net of unearned income

35,769

35,112

34,679

1.9

3.1

Allowance for credit losses on loans and leases

(447)

(443)

(432)

0.9

3.5

Net Loans and Leases

35,322

34,669

34,247

1.9

3.1

Premises and equipment, net

564

566

557

(0.4)

1.3

Goodwill

2,480

2,480

2,480

—

—

Core deposit and other intangible assets, net

30

33

44

(9.1)

(31.8)

Bank owned life insurance

674

671

665

0.4

1.4

Other assets

1,255

1,271

1,314

(1.3)

(4.5)

Total Assets

$  50,999

$  50,628

$  49,725

0.7

2.6

Liabilities

Deposits:

Non-interest-bearing

$  10,056

$  10,003

$    9,872

0.5

1.9

Interest-bearing

28,623

28,898

27,876

(1.0)

2.7

  Total Deposits

38,679

38,901

37,748

(0.6)

2.5

Short-term borrowings

2,681

2,157

1,876

24.3

42.9

Long-term borrowings

2,002

2,001

2,692

—

(25.6)

Other liabilities

798

768

885

3.9

(9.8)

Total Liabilities

44,160

43,827

43,201

0.8

2.2

Shareholders' Equity

Common stock

4

4

4

—

—

Additional paid-in capital

4,691

4,698

4,691

(0.1)

—

Retained earnings

2,539

2,437

2,112

4.2

20.2

Accumulated other comprehensive loss

(103)

(86)

(92)

19.8

12.0

Treasury stock

(292)

(252)

(191)

15.9

52.9

Total Shareholders' Equity

6,839

6,801

6,524

0.6

4.8

Total Liabilities and Shareholders' Equity

$  50,999

$  50,628

$  49,725

0.7

2.6

F.N.B. CORPORATION AND SUBSIDIARIES

(Dollars in thousands)

(Unaudited)

2Q26

1Q26

2Q25

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

$              1,611,087

$           13,979

3.48 %

$              1,748,445

$           15,325

3.55 %

$              1,723,351

$           17,788

4.14 %

Taxable investment securities (1)

7,011,619

63,611

3.63

6,876,738

60,936

3.55

6,587,352

56,955

3.46

Tax-exempt investment
securities (1) (2)

958,948

8,460

3.53

991,913

8,735

3.52

1,004,672

8,737

3.48

Loans held for sale

327,705

5,974

7.29

437,086

7,572

6.93

225,509

4,156

7.37

Loans and leases (2) (3)

35,501,370

489,113

5.52

34,900,157

479,857

5.56

34,502,493

498,078

5.79

Total Interest Earning
Assets (2)

45,410,729

581,137

5.13

44,954,339

572,425

5.14

44,043,377

585,714

5.33

Cash and due from banks

377,777

373,240

395,418

Allowance for credit losses

(452,987)

(446,932)

(437,130)

Premises and equipment

567,661

567,938

555,889

Other assets

4,490,908

4,505,350

4,548,082

Total Assets

$            50,394,088

$            49,953,935

$            49,105,636

Liabilities

Deposits:

Interest-bearing demand

$ 6,617,287

18,393

1.11

$ 6,541,455

18,173

1.13

$ 6,076,305

16,373

1.08

Money market

11,691,192

84,878

2.91

11,700,669

85,030

2.95

10,963,843

92,276

3.38

Savings

3,096,095

6,421

0.83

3,102,399

6,787

0.89

3,030,706

6,831

0.90

Certificates and other time

7,312,462

59,422

3.26

7,193,173

58,690

3.31

7,241,453

65,710

3.64

Total interest-bearing deposits

28,717,036

169,114

2.36

28,537,696

168,680

2.40

27,312,307

181,190

2.66

Short-term borrowings

2,106,129

19,522

3.71

1,978,660

17,934

3.67

1,876,526

20,132

4.29

Long-term borrowings

2,001,579

23,654

4.74

1,984,936

23,388

4.78

2,741,561

34,123

4.99

Total Interest-Bearing
Liabilities  

32,824,744

212,290

2.59

32,501,292

210,002

2.62

31,930,394

235,445

2.96

Non-interest-bearing demand
deposits

9,942,298

9,828,293

9,812,486

Total Deposits and
Borrowings

42,767,042

1.99

42,329,585

2.01

41,742,880

2.26

Other liabilities

806,700

816,738

883,637

Total Liabilities

43,573,742

43,146,323

42,626,517

Shareholders' Equity

6,820,346

6,807,612

6,479,119

Total Liabilities and
Shareholders' Equity

$            50,394,088

$            49,953,935

$            49,105,636

Net Interest Earning Assets

$            12,585,985

$            12,453,047

$            12,112,983

Net Interest Income (FTE) (2)

368,847

362,423

350,269

Tax Equivalent Adjustment

(3,124)

(3,145)

(3,073)

Net Interest Income

$         365,723

$         359,278

$         347,196

Net Interest Spread

2.54 %

2.52 %

2.37 %

Net Interest Margin  (2)

3.25 %

3.25 %

3.19 %

(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

(Dollars in thousands)

(Unaudited)

Six Months Ended June 30,

2026

2025

Interest

Interest

Average

Income/

Yield/

Average

Income/

Yield/

Balance

Expense

Rate

Balance

Expense

Rate

Assets

Interest-bearing deposits with banks

$               1,679,386

$    29,304

3.52 %

$                1,732,129

$    34,861

4.06 %

Taxable investment securities (1)

6,944,551

124,547

3.59

6,512,930

111,590

3.43

Tax-exempt investment securities (1) (2)

975,340

17,195

3.52

1,007,379

17,501

3.47

Loans held for sale

382,093

13,546

7.09

214,605

8,040

7.49

Loans and leases (2) (3)

35,202,425

968,971

5.54

34,277,885

976,142

5.73

Total Interest Earning Assets (2)

45,183,795

1,153,563

5.13

43,744,928

1,148,134

5.28

Cash and due from banks

375,521

394,636

Allowance for credit losses

(449,976)

(433,039)

Premises and equipment

567,798

547,190

Other assets

4,498,089

4,541,924

Total Assets

$             50,175,227

$              48,795,639

Liabilities

Deposits:

Interest-bearing demand

$ 6,579,581

36,567

1.12

$ 6,187,745

35,199

1.15

Money market

11,695,904

169,908

2.93

10,809,047

182,300

3.40

Savings

3,099,230

13,208

0.86

3,087,255

14,941

0.98

Certificates and other time

7,253,147

118,112

3.28

7,232,714

134,578

3.75

Total interest-bearing deposits

28,627,862

337,795

2.38

27,316,761

367,018

2.71

Short-term borrowings

2,042,746

37,456

3.69

1,626,785

34,235

4.23

Long-term borrowings

1,993,303

47,042

4.76

2,784,543

69,784

5.05

Total Interest-Bearing Liabilities  

32,663,911

422,293

2.61

31,728,089

471,037

2.99

Non-interest-bearing demand deposits

9,885,610

9,730,677

Total Deposits and Borrowings

42,549,521

2.00

41,458,766

2.29

Other liabilities

811,692

910,946

Total Liabilities

43,361,213

42,369,712

Shareholders' Equity

6,814,014

6,425,927

Total Liabilities and Shareholders' Equity

$             50,175,227

$              48,795,639

Net Interest Earning Assets

$             12,519,884

$              12,016,839

Net Interest Income (FTE) (2)

731,270

677,097

Tax Equivalent Adjustment

(6,269)

(6,056)

Net Interest Income

$  725,001

$  671,041

Net Interest Spread

2.52 %

2.29 %

Net Interest Margin (2)

3.25 %

3.11 %

(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)

For the Six Months Ended
June 30,

2Q26

1Q26

2Q25

2026

2025

Performance Ratios

Return on average equity

8.75 %

8.16 %

8.09 %

8.46 %

7.76 %

Return on average tangible

common equity (1) 

14.07

13.20

13.57

13.64

13.11

Return on average assets

1.18

1.11

1.07

1.15

1.02

Return on average tangible assets (1) 

1.27

1.19

1.15

1.23

1.10

Net interest margin (FTE) (2)

3.25

3.25

3.19

3.25

3.11

Yield on earning assets (FTE) (2)

5.13

5.14

5.33

5.13

5.28

Cost of interest-bearing deposits

2.36

2.40

2.66

2.38

2.71

Cost of interest-bearing liabilities 

2.59

2.62

2.96

2.61

2.99

Cost of funds 

1.99

2.01

2.26

2.00

2.29

Efficiency ratio (1)

53.68

56.08

54.83

54.86

56.61

Effective tax rate

20.92

21.21

21.47

21.06

21.20

Capital Ratios

Equity / assets

13.41

13.43

13.12

Common equity tier 1 (3)

11.4

11.4

10.8

Leverage

9.25

9.22

8.78

Tangible common equity / tangible assets (1)

8.93

8.91

8.47

Common Stock Data

Average diluted common shares outstanding

357,413,941

360,234,607

362,258,964

358,819,030

362,663,795

Period end common shares outstanding

353,560,084

355,670,905

359,123,010

Book value per common share

$         19.34

$         19.12

$         18.17

Tangible book value per common share (1)

12.24

12.06

11.14

Dividend payout ratio (common)

31.23 %

31.71 %

33.34 %

31.46 %

35.42 %

(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)

June 30, 2026 Common Equity Tier 1 Capital ratio is an estimate.

F.N.B. CORPORATION AND SUBSIDIARIES

(Dollars in millions)

(Unaudited)

% Variance

2Q26

2Q26

2Q26

1Q26

2Q25

1Q26

2Q25

Balances at period end

Loans and Leases:

Commercial real estate (1)

$  12,035

$  12,164

$  12,686

(1.1)

(5.1)

Commercial and industrial

8,194

8,032

7,556

2.0

8.4

Commercial leases

802

778

774

3.1

3.6

Other

140

87

182

60.9

(23.1)

Commercial loans and leases

21,171

21,061

21,198

0.5

(0.1)

Direct installment

2,654

2,655

2,671

—

(0.6)

Residential mortgages

9,471

9,038

8,595

4.8

10.2

Indirect installment

852

805

780

5.8

9.2

Consumer LOC

1,621

1,553

1,435

4.4

13.0

Consumer loans

14,598

14,051

13,481

3.9

8.3

Total loans and leases

$  35,769

$  35,112

$  34,679

1.9

3.1

Note: Loans held for sale were $290, $321 and $296 at 2Q26, 1Q26, and 2Q25, respectively.

(1) Commercial real estate is made up of 68% non-owner occupied and 32% owner-occupied at June 30, 2026.

% Variance

Average balances

2Q26

2Q26

For the Six Months
Ended
June 30,

%

Loans and Leases:

2Q26

1Q26

2Q25

1Q26

2Q25

2026

2025

Var.

Commercial real estate 

$  12,099

$  12,202

$  12,767

(0.8)

(5.2)

$  12,152

$  12,749

(4.7)

Commercial and industrial

8,192

7,855

7,592

4.3

7.9

8,022

7,578

5.9

Commercial leases

797

787

776

1.2

2.7

792

771

2.7

Other

140

144

159

(3.1)

(12.0)

142

154

(7.5)

Commercial loans and leases

21,227

20,988

21,294

1.1

(0.3)

21,108

21,251

(0.7)

Direct installment

2,649

2,667

2,667

(0.7)

(0.7)

2,658

2,665

(0.3)

Residential mortgages

9,210

8,921

8,352

3.2

10.3

9,066

8,200

10.6

Indirect installment

823

788

780

4.6

5.5

806

770

4.6

Consumer LOC

1,592

1,536

1,410

3.6

12.9

1,564

1,391

12.4

Consumer loans

14,274

13,912

13,209

2.6

8.1

14,094

13,027

8.2

Total loans and leases

$  35,501

$  34,900

$  34,502

1.7

2.9

$  35,202

$  34,278

2.7

F.N.B. CORPORATION AND SUBSIDIARIES

(Dollars in millions)

(Unaudited)

% Variance

2Q26

2Q26

Asset Quality Data

2Q26

1Q26

2Q25

1Q26

2Q25

Non-Performing Assets

Non-performing loans

$  110

$   118

$   117

(6.8)

(6.0)

Other real estate owned (OREO)

2

3

2

(33.3)

—

Non-performing assets

$  112

$   121

$   119

(7.4)

(5.9)

Non-performing loans / total loans and leases

0.31 %

0.33 %

0.34 %

Non-performing assets plus 90+ days past due / total loans and leases
plus OREO

0.46

0.49

0.38

Non-performing loans plus OREO / total loans and leases plus OREO

0.31

0.34

0.34

Delinquency

Loans 30-89 days past due

$    92

$     93

$     86

(1.1)

7.0

Loans 90+ days past due

51

50

13

2.0

292.3

Non-accrual loans

110

118

117

(6.8)

(6.0)

Past due and non-accrual loans

$  253

$   261

$   216

(3.1)

17.1

Past due and non-accrual loans / total loans and leases

0.71 %

0.74 %

0.62 %

F.N.B. CORPORATION AND SUBSIDIARIES

(Dollars in millions)

% Variance

(Unaudited)

2Q26

2Q26

For the Six Months
Ended
June 30,

%

Allowance on Loans and Leases and Allowance for Unfunded Loan
Commitments Rollforward

2Q26

1Q26

2Q25

1Q26

2Q25

2026

2025

Var.

Allowance for Credit Losses on Loans and Leases

Balance at beginning of period

$ 443.0

$ 439.5

$ 428.9

0.8

3.3

$ 439.5

$ 422.8

4.0

Provision for credit losses 

21.3

19.4

25.0

10.1

(14.7)

40.6

43.6

(6.7)

Net loan (charge-offs) / recoveries

(17.0)

(15.9)

(21.8)

7.2

(22.0)

(32.8)

(34.3)

(4.3)

Allowance for credit losses on loans and leases

$ 447.3

$ 443.0

$ 432.1

1.0

3.5

$ 447.3

$ 432.1

3.5

Allowance for Unfunded Loan Commitments

Allowance for unfunded loan commitments balance at beginning of period

$   19.2

$   20.1

$   20.3

(4.6)

(5.3)

$   20.1

$   21.4

(5.9)

Provision (reduction in allowance) for unfunded loan commitments / other
adjustments

(0.1)

(0.9)

0.7

91.2

(111.8)

(1.0)

(0.4)

(135.0)

Allowance for unfunded loan commitments

$   19.1

$   19.2

$   21.0

(0.4)

(8.9)

$   19.1

$   21.0

(8.9)

Total allowance for credit losses on loans and leases and allowance for
unfunded loan commitments

$ 466.4

$ 462.2

$ 453.0

0.9

3.0

$ 466.4

$ 453.0

3.0

Allowance for credit losses on loans and leases / total loans and leases

1.25 %

1.26 %

1.25 %

Allowance for credit losses on loans and leases / total non-performing loans

404.3

376.8

370.7

Net loan charge-offs (annualized) / total average loans and leases

0.19

0.18

0.25

0.19 %

0.20 %

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.

For the Six Months Ended
June 30,

2Q26

1Q26

2Q25

2026

2025

Return on average tangible common equity

(dollars in thousands)

Net income available to common shareholders
(annualized)

$     596,518

$     555,798

$     524,116

$     576,271

$     498,467

Amortization of intangibles, net of tax (annualized)

9,761

10,733

12,607

10,245

12,614

Tangible net income available to common
shareholders (annualized) (non-GAAP)

$     606,279

$     566,531

$     536,723

$     586,516

$     511,081

Average total shareholders' equity

$  6,820,346

$  6,807,612

$  6,479,119

$  6,814,014

$  6,425,927

Less: Average intangible assets (1)

(2,511,122)

(2,514,310)

(2,525,338)

(2,512,707)

(2,526,481)

Average tangible common equity (non-GAAP)

$  4,309,224

$  4,293,302

$  3,953,781

$  4,301,307

$  3,899,446

Return on average tangible common equity
(non-GAAP)

14.07 %

13.20 %

13.57 %

13.64 %

13.11 %

Return on average tangible assets

(dollars in thousands)

Net income (annualized)

$      596,518

$      555,798

$      524,116

$      576,271

$      498,467

Amortization of intangibles, net of tax
(annualized)

9,761

10,733

12,607

10,245

12,614

Tangible net income (annualized) (non-GAAP)

$      606,279

$      566,531

$      536,723

$      586,516

$      511,081

Average total assets

$ 50,394,088

$ 49,953,935

$ 49,105,636

$ 50,175,227

$ 48,795,639

Less: Average intangible assets (1)

(2,511,122)

(2,514,310)

(2,525,338)

(2,512,707)

(2,526,481)

Average tangible assets (non-GAAP)

$ 47,882,966

$ 47,439,625

$ 46,580,298

$ 47,662,520

$ 46,269,158

Return on average tangible assets (non-GAAP)

1.27 %

1.19 %

1.15 %

1.23 %

1.10 %

(1) Excludes loan servicing rights.

F.N.B. CORPORATION AND SUBSIDIARIES

(Unaudited)

2Q26

1Q26

2Q25

Tangible book value per common share

(dollars in thousands, except per share data)

Total shareholders' equity

$   6,838,456

$   6,800,671

$   6,523,791

Less:  Intangible assets (1)

(2,509,651)

(2,512,732)

(2,524,005)

Tangible common equity (non-GAAP)

$   4,328,805

$   4,287,939

$   3,999,786

Common shares outstanding

353,560,084

355,670,905

359,123,010

Tangible book value per common share (non-GAAP)

$          12.24

$          12.06

$          11.14

Tangible common equity to tangible assets

(dollars in thousands)

Total shareholders' equity

$   6,838,456

$   6,800,671

$   6,523,791

Less:  Intangible assets (1)

(2,509,651)

(2,512,732)

(2,524,005)

Tangible common equity (non-GAAP)

$   4,328,805

$   4,287,939

$   3,999,786

Total assets

$ 50,998,603

$ 50,628,037

$ 49,724,837

Less:  Intangible assets (1)

(2,509,651)

(2,512,732)

(2,524,005)

Tangible assets (non-GAAP)

$ 48,488,952

$ 48,115,305

$ 47,200,832

Tangible common equity to tangible assets (non-GAAP)

8.93 %

8.91 %

8.47 %

(1) Excludes loan servicing rights.

F.N.B. CORPORATION AND SUBSIDIARIES

(Unaudited)

For the Six Months Ended
June 30,

2Q26

1Q26

2Q25

2026

2025

Pre-provision net revenue

(in thousands)

Net interest income

$  365,723

$  359,278

$  347,196

$  725,001

$  671,041

Non-interest income

96,951

90,985

91,015

187,936

178,781

Less: Non-interest expense

(253,249)

(257,865)

(246,225)

(511,114)

(493,036)

Pre-provision net revenue (reported) (non-GAAP)

$  209,425

$  192,398

$  191,986

$  401,823

$  356,786

Pre-provision net revenue (reported) (annualized)
(non-GAAP)

$  840,000

$  780,281

$  770,055

$  810,305

$  719,485

Efficiency ratio (FTE)

(dollars in thousands)

Total non-interest expense

$  253,249

$  257,865

$  246,225

$  511,114

$  493,036

Less: Amortization of intangibles

(3,081)

(3,350)

(3,979)

(6,431)

(7,918)

Less: OREO expense

(147)

(236)

(316)

(383)

(631)

Adjusted non-interest expense

$  250,021

$  254,279

$  241,930

$  504,300

$  484,487

Net interest income

$  365,723

$  359,278

$  347,196

$  725,001

$  671,041

Taxable equivalent adjustment

3,124

3,145

3,073

6,269

6,056

Non-interest income

96,951

90,985

91,015

187,936

178,781

Less:  Net securities losses (gains)

(27)

(2)

(58)

(29)

(58)

Adjusted net interest income (FTE) + non-interest
income

$  465,771

$  453,406

$  441,226

$  919,177

$  855,820

Efficiency ratio (FTE) (non-GAAP)

53.68 %

56.08 %

54.83 %

54.86 %

56.61 %

SOURCE F.N.B. Corporation