Slide 1: F.N.B. Corporation Earnings Presentation Third Quarter 2022
F.N.B. Corporation Earnings Presentation Third Quarter 2022 October 19, 2022
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: Cautionary Statement Regarding Forward-Looking Information
Cautionary Statement Regarding Forward-Looking Information • We grow our business, in part, through acquisitions and new strategic initiatives. Risks and uncertainties include those presented by the nature of the business acquired and strategic initiative, including in some cases those associated wi
Slide 4: 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 5: Financial Highlights
Financial Highlights Third Quarter 2022 Highlights ❖ Record earnings per diluted common share of $0.38 and operating (non-GAAP) earnings per diluted common share of $0.39. ❖ Total loans and leases (period-end) increased $735.7 million, or 10.4% annualized, linked-quarter. o Consumer loans increased
Slide 6: Strong Financial Performance
Strong Financial Performance Strong Profitability Metrics 3Q22 YoY Spot Loan Growth Quarter Ended 9/30/2022 18.8% 1.41% 16% 11% ROATCE(1) ROATA(1) Total Loans Commercial Loans 49.4% 3.19% 3Q22 YoY Spot Deposit Growth Efficiency Ratio(1) Net Interest Margin(4) 8% 12% Significant Capital, Reserves & L
Slide 7: Third Quarter Financial Highlights
Third Quarter Financial Highlights 3Q22 2Q22 3Q21 Net income available to common stockholders $135.5 $107.1 $109.5 (millions) Reported Earnings per diluted common share $0.38 $0.30 $0.34 Results Book value per common share $15.11 $15.19 $15.65 Operating net income available to common $137.2 $108.7 $
Slide 8: Asset Quality
Asset Quality $ in millions, unless otherwise stated 3Q22 2Q22 3Q21 3Q22 Highlights o Credit quality metrics continue to be stable and Delinquency 0.59% 0.58% 0.72% the portfolio remains well-positioned. o Reduced delinquency and NPL levels were NPLs+OREO/Total loans and driven by favorable commerci
Slide 9: Balance Sheet Highlights
Balance Sheet Highlights Average, $ in millions 3Q22 2Q22 3Q21 QoQ ∆(3) YoY ∆ 3Q22 Highlights o Commercial loan growth was Securities 7,246 7,070 6,188 2.5% 17.1% led by the Cleveland and North Carolina markets in the third quarter. Total Loans(4) 28,431 27,245 24,729 4.4% 15.0% o Consumer loan grow
Slide 10: Deposits Composition
Deposits Composition Total Deposits (2009 – 2022 YTD) 2009 2022 Δ NIB Deposits 16% 35% 19% 35% 34% Time Deposits 35% 9% (26%) 31% 26% 26% 26% 26% 56% 57% 56% 24% 52% 55% 23% 54% 22% 19% 18% 58% 16% 16% 54% 56% 53% 53% 50% 52% 52% 21% 22% 19% 28% 26% 23% 20% 16% 13% 9% 9% 35% 32% 30% 2009 2010 2011 2
Slide 11: Revenue Highlights
Revenue Highlights $ in thousands, unless otherwise stated 3Q22 2Q22 3Q21 QoQ Δ(2) YoY Δ 3Q22 Highlights Total interest income $342,714 $280,778 $255,640 22.1% 34.1% o Net interest income increased from the prior quarter due to growth in Total interest expense 45,589 27,088 23,234 68.3% 96.2% averag
Slide 12: Interest Rate Risk Profile
Interest Rate Risk Profile Cumulative Deposit Betas YTD Loan Repricing Frequency 12/31/21 3/31/22 6/30/22 9/30/22 as of September 30, 2022 16,000,000 Fed Funds Rate 0.25% 0.50% 1.75% 3.25% 51.9% Cumulative Deposit Beta 0.2% 9.7% 12.5% 14,000,000 Other 12,000,000 40.5% 1M SOFR Total Loans: Total Depo
Slide 13: Non-Interest Income
Non-Interest Income $ in thousands 3Q22 2Q22 3Q21 QoQ Δ(1) YoY Δ 3Q22 Highlights o Service charges year- Service charges $35,954 $34,693 $31,716 3.6% 13.4% over-year growth of $4.2 million was driven by Trust income 9,600 9,713 9,471 (1.2%) 1.4% interchange fees, treasury management, and increased c
Slide 14: Non-Interest Expense
Non-Interest Expense $ in thousands 3Q22 2Q22 3Q21 QoQ Δ (2) YoY Δ 3Q22 Highlights Salaries and employee benefits $106,620 $103,870 $104,899 2.6% 1.6% o Salaries and employee benefits increased from higher base Occupancy and equipment 34,839 34,455 30,577 1.1% 13.9% salaries due to vacancy and Amort
Slide 15: Full Year 2022 Financial Objectives
Full Year 2022 Financial Objectives(2) Q4 2022 Guidance(2) FY 2022 Guidance(2) Commentary High-single to low-double digit organic Spot Loans Mid-teen growth growth, excluding Howard Bank Balance (1) Sheet Continued customer growth and acquisition Spot Deposits Mid-to-high single digit growth to be o
Slide 16: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation 16
Slide 17: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation 17
Slide 18: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation 18
Slide 19: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation 19
Slide 20: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation 20