Slide 1: F.N.B. Corporation Investor Presentation Second Quarter 2024
Exhibit 99.1 F.N.B. Corporation Investor Presentation Second Quarter 2024 June 2024 1
Slide 2: Cautionary Statement Regarding Forward-Looking Information
Cautionary Statement Regarding Forward-Looking Information This document may contain statements regarding F.N.B. Corporation’s outlook for earnings, revenues, expenses, tax rates, capital and liquidity levels and ratios, asset quality levels, financial position and other matters regarding or affecti
Slide 3: Use of Non-GAAP Financial Measures and Key Performance Indicators
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 stockholders, operating earnings per diluted common sh
Slide 4: Overview of FNB
Overview of FNB Company Snapshot Financial Highlights as of 3/31/24 ❖ Ticker: FNB (NYSE) Assets: 12.6% CAGR since 2009 $45.9 billion ❖ Founded in 1864 $32.6 billion Loans: 13.1% CAGR since 2009 ❖ Headquartered in Pittsburgh, PA Deposits: 12.9% CAGR since 2009 $34.7 billion ❖ Diverse market presence
Slide 5: Investor Highlights
Investor Highlights ✓ Diversified revenue streams through retail and commercial banking, capital markets, wealth management and insurance. Strong core ✓ Proven, sustainable business model driving long-term growth and performance. franchise in o Disciplined sales culture focused on relationship-based
Slide 6: Why FNB?
Why FNB? A Strong Franchise Proven Performance Sustainable Growth Nationally recognized as a Consistent credit underwriting Investments in digital 2023 Top Workplace USA and thoughtful capital and technology and data and Financial Services Top liquidity management. infrastructure to better serve Wor
Slide 7: The Six Pillars of Our Long-Term Strategy
The Six Pillars of Our Long-Term Strategy FNB drives performance to further improve on long-term strategic planning metrics with an underlying focus on a consistent credit culture. Optimize the Retail Build a Strong, Drive Organic Bank Differentiated Brand Growth Maintain Build a Durable, Promote Co
Slide 8: FNB Continues to Serve All its Stakeholders
FNB Continues to Serve All its Stakeholders ❖ Winner of more than 100 prestigious Greenwich Excellence ❖ Expanded access to credit in low-to-moderate income and Best Brand Awards since 2011 and named one of communities with our new Special Purpose Credit Program. America’s Best Banks by Forbes. ❖ Ma
Slide 9: Strong Financial Performance
Strong Financial Performance Solid Profitability 14.7% 1.2% 56.0% 3.18% Metrics Net Interest (1)(2) Quarter Ended March 31, 2024 Operating Operating Efficiency Ratio (1)(2) Margin (1) (1) ROATCE ROATA Significant Capital, Reserves & Liquidity 8.0% 10.2% 1.25% 162% (1) as of March 31, 2024 TCE/TA CET
Slide 10: Strong Capital Position
Strong Capital Position FNB’s record capital levels provide ample flexibility to grow the balance sheet and optimize shareholder returns while appropriately managing risk. (1) TCE Ratio CET1 Ratio 8.0% 10.2% 7.8% 10.0% 7.6% 9.9% 9.8% 9.8% 7.4% 7.2% 7.2% 9.4% 2019 2020 2021 2022 2023 1Q24 2019 2020 2
Slide 11: Strategic Objective to Drive Diversified Fee Income Growth
Strategic Objective to Drive Diversified Fee Income Growth ❖ Our diversified business model continues to produce strong non-interest income performance. ❖ Priority to develop new products and capabilities within mortgage and capital markets, such as debt capital markets in recent years, has helped o
Slide 12: Expansion of Geographic Footprint
Expansion of Geographic Footprint Since the financial crisis, FNB has focused on growing its footprint across the Mid-Atlantic and Carolinas to high-growth MSAs such as Charlotte, DC, Baltimore, and Charleston. FNB Growth Highlights 2024 FNB Geographic Footprint 2009 1Q24 Δ Total Assets ($B): $8.7 $
Slide 13: Diverse Footprint with Strong Market Share
(1) Diverse Footprint with Strong Market Share FNB’s market deposit CAGR is 14% over the last 6 years buoyed by our new markets. 1 6 (3) Cleveland Winston-Salem 1 Population: 2.1 million Population: 685k (2) # of 100k Bus : 134k # of 100k Bus: 39k Deposit Market Share Rank: 13 Deposit Market Share R
Slide 14: Evolution of FNB's Digital Bank
Evolution of FNB’s Digital Bank FNB’s digital and data strategies improve customer experience and drive revenue growth. Key milestones of FNB’s digital and data strategies 2015-2016 2017-2019 2020 2021 2022 2023 Future Outlook • Click-to-Bricks strategy • Upgraded all • eStore Common • Data Science
Slide 15: Technology Evolution & Digital Trends
Technology Evolution & Digital Trends Significant opportunity to drive increased digital product adoption across our expanding client base. Omnichannel strategy Digital has been on the rise Expanding our online involves a robust ATM and growing rapidly capabilities network rd Using same applications
Slide 16: Online and Mobile Channels Continue to See Strong Adoption
Online and Mobile Channels Continue to See Strong Adoption Strong momentum in usage of digital tools and other non-branch delivery channels, along with tools to equip our teams to outperform. (2) Online Banking Common Application User base had continued YoY increase in product 2% 35% growth increase
Slide 17: FNB's Holistic Data Strategy
FNB’s Holistic Data Strategy Investments in data architecture lead to organic customer growth Acquire Consolidate Evaluate Deliver Delivery focuses on data science, visualization, and advanced analytics Enterprise Data Self-Service Data Data Warehouse Preparation Casual User Sources Reports Internal
Slide 18: Financial Highlights
Financial Highlights ENB Corporation
Slide 19: First Quarter 2024 Highlights
Financial Highlights First Quarter 2024 Highlights (1) ❖ Earnings per diluted common share of $0.32 and operating earnings per diluted common share of $0.34. ❖ Total loans and leases (period-end), increased $261 million, or 3.3% annualized, linked-quarter. o Consumer loans increased $209 million. o
Slide 20: First Quarter Financial Highlights
First Quarter Financial Highlights 1Q24 4Q23 1Q23 Net income available to common stockholders (millions) $116.3 $48.7 $144.5 Reported Earnings per diluted common share $0.32 $0.13 $0.40 Results Book value per common share $16.71 $16.56 $15.76 (1) $122.7 $138.7 $146.1 Operating net income available t
Slide 21: Asset Quality
Asset Quality $ in millions, unless otherwise stated 1Q24 4Q23 1Q23 1Q24 Highlights Delinquency 0.64% 0.70% 0.60% o Credit quality continues to trend at solid levels across all portfolios. NPLs+OREO/Total loans and leases + OREO 0.33% 0.34% 0.38% o NPLs+OREOs ended the quarter at a healthy level of
Slide 22: Asset Quality Ratios
Asset Quality Ratios Asset quality metrics remain at or near historical lows and FNB will continue to manage risk proactively as part of our core credit philosophy. NCO’s (Annualized) to Average Loans NPL’s and OREO to Loans and OREO 0.47% 0.47% 0.38% 0.36% 0.34% 0.33% 0.18% 0.16% 0.11% 0.10% 0.07%
Slide 23: Historical Asset Quality
FNB Corporation Historical Asset Quality FNB Corporation Full-year NPL + OREO / FNB Corporation Full-year NCOs/ Loans Loans + OREO Florida Exit Florida Exit 1.15% 2.84% 2.74% 2.62% 2.05% 0.77% Regency Sale 0.60% Regency Sale 0.58% 1.42% 1.24% 0.97% 0.93% 0.91% 0.35% 0.79% 0.29% 0.28% 0.70% 0.28% 0.6
Slide 24: Loan Portfolio Mix
Loan Portfolio Mix Highly diversified, commercial-focused loan portfolio. Loan Portfolio (as of March 31, 2024) Owner CRE C&I 11% 21% Other 1% Equip Finance/Commercial Leasing Group 3% Indirect Non-Owner CRE 4% 27% HELOC 4% Home Equity 8% Residential Mortgage 21% Total Loan Portfolio: $32.6 billion
Slide 25: Non-Owner Occupied CRE Portfolio
Non-Owner Occupied CRE Portfolio (1) Non-Owner Occupied CRE Portfolio CRE - Office Loan Statistics Retail as of March 31, 2024 19.8% ❖ Long history of working with well-established sponsors with a focus on strong global cash flows. Office Other ❖ Very granular positioning of portfolio 21.2% 6.0% ❖ T
Slide 26: Non-Owner Occupied CRE Portfolio
Non-Owner Occupied CRE Portfolio 1 NOO-CRE Loan Statistics NOO-CRE Loans to Capital 275% as of March 31, 2024 ❖ Strong diversification across property types and geographies. 250% ❖ No outsized risk to any one property. o Average loan size is $1 million. 225% o No single funded loan over $50 million.
Slide 27: Balance Sheet Highlights
Balance Sheet Highlights (1) 1Q24 4Q23 1Q23 YoY ∆ 1Q24 Highlights Average, $ in millions QoQ ∆ o Total securities ended the Securities $7,163 $7,096 $7,270 0.9% (1.5%) quarter with a duration of 4.3 years and AFS comprising 45% of the portfolio. Total Loans 32,381 32,268 30,410 0.4% 6.5% o Total ave
Slide 28: Deposit Composition
Deposit Composition FNB Maintains a Favorable Deposit Mix. (1) Total Period-End Deposits (2009 – 1Q24) ($ amount in billions) $34.8 $34.7 $34.7 2009 1Q24 Δ $31.7 NIB Deposits 16% 29% +13% $29.1 Time Deposits 35% 19% -16% 29% 29% 34% $24.8 34% $23.5 31% $22.4 26% 26% 26% $16.1 52% 53% $12.6 26% $11.4
Slide 29: Stable and Granular Deposit Base
Stable and Granular Deposit Base Diversified funding channels provide levers for growth and reflect long-term relationships. Deposit Composition Key Statistics Strategy as of March 31, 2024 ❖ Total insured/collateralized deposits comprise approximately 78% Private Banking of total deposits. Consumer
Slide 30: Stable and Granular Non-Interest-Bearing Deposits
Stable and Granular Non-Interest-Bearing Deposits FNB maintains a more stable deposit mix relative to peers. Change in Non-Interest-Bearing Deposit to Total Deposit Mix Change in Non-Interest-Bearing Deposit Balance 4Q22 – 1Q24 4Q22 – 1Q24 Peer 1 (0.1%) Peer 2 (2.4%) Peer 2 (9.9%) Peer 1 (4.7%) Peer
Slide 31: Deposits and Customer Repurchase Agreements
(1)(2) Deposits and Customer Repurchase Agreements As of June 30, 2022 FNB’s total deposit CAGR is 9% over the last 5 years. Balance Portfolio Non-Interest (in millions) (%) Savings, NOW, Bearing Savings, NOW, MMDA $18,068 52% MMDA 29% 52% Non-Interest Bearing 9,982 29% Transaction Deposits $28,050
Slide 32: Investment Portfolio
Investment Portfolio Highly Rated Investment Portfolio As of March 31, 2024 % Ratings as of March 31, 2024 ($ in millions) Balance Portfolio Investment % Agency CMBS Agency MBS $1,912 27% AAA 100% 28% Agency Agency CMO 1,590 22% AAA 100% Debentures 5% Agency CMBS 2,028 28% AAA 100% Agency Debentures
Slide 33: Revenue Highlights
Revenue Highlights (2) $ in thousands, unless otherwise stated 1Q24 4Q23 1Q23 YoY Δ 1Q24 Highlights QoQ Δ (1) o Higher earning asset yields driven Total interest income $543,497 $531,587 $443,503 2.2% 22.5% by increases of 11 basis points on (1) loan yields and 32 basis points on Total interest expe
Slide 34: Balance Sheet Repricing
Balance Sheet Repricing Cumulative Total Deposit Betas Loan Repricing Frequency 18,000,000 as of March 31, 2024 36.5% 34.3% 31.0% +2 PP 16,000,000 47.7% +3 PP 26.6% +4 PP Other 21.8% +5 PP 14,000,000 16.6% +5 PP 37.9% 12.5% +4 PP 12,000,000 9.7% +3 PP 10,000,000 SOFR 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q
Slide 35: Superior Core Deposit Base
Superior Core Deposit Base Total Average Deposit Cost vs. Fed Funds Target Rate (%) Current Cycle 3Q15 – 2Q19 Tightening Fed Cycle 2Q19 – 4Q21 Easing Fed Cycle (+225) (+525) 6.50 (-225) 5.50 5.50 5.50 5.25 5.50 5.00 4.50 4.50 3.25 3.50 2.50 2.50 2.50 2.49 2.44 2.25 2.22 2.50 2.00 2.00 1.75 1.75 1.75
Slide 36: Non-Interest Income
Non-Interest Income (2) $ in thousands, unless otherwise stated 1Q24 4Q23 1Q23 YoY Δ 1Q24 Highlights QoQ Δ o Wealth management revenues Service charges $20,569 $19,849 $20,264 3.6% 1.5% increased with record revenue in securities commissions and Interchange and card transaction fees 12,700 13,333 12
Slide 37: Non-Interest Expense
Non-Interest Expense (2) $ in thousands, unless otherwise stated 1Q24 4Q23 1Q23 YoY Δ 1Q24 Highlights QoQ Δ (1) o Salaries and employee $129,120 $114,133 $120,247 13.1% 7.4% Salaries and employee benefits benefits increased linked- quarter, primarily related to (1) 42,179 42,571 39,442 (0.9%) 6.9% O
Slide 38: 2024 Financial Objectives
2024 Financial Objectives 2Q24 Guidance FY 2024 Guidance Commentary Organic loan growth driven by increasing market share and Spot Loans Mid-single digit growth our diverse geographic footprint. Balance (1) Sheet Spot Deposits Low-single digit growth Assumes two 25-basis point interest rate cuts in
Slide 39: 2024 Peer Group Listing
2024 Peer Group Listing Ticker Institution Ticker Institution ASB Associated Banc-Corp. RF Regions Financial Corp. BKU BankUnited, Inc. SFNC Simmons First National Corp. BOKF BOK Financial Corp. SNV Synovus Financial Corp. CBSH Commerce Bancshares, Inc. SSB SouthState Corp. CFR Cullen/Frost Bankers,
Slide 40: Non-GAAP to GAAP Reconciliations
Non-GAAP to GAAP Reconciliations 40
Slide 41: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation 41 41
Slide 42: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation 42 42
Slide 43: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation 43 43
Slide 44: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation 44 44
Slide 45: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation 45 45
Slide 46: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation 46 46
Slide 47: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation 47 47
Slide 48: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation 48 48
Slide 49: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation 49 49
Slide 50: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation 50 50
Slide 51: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation 51 51