F.n.b. Corporation · NYSE:FNB
F.n.b — Sterne Agee Financial Institutions Investor Conference 2012
38 slides from F.n.b's conference presentation, Feb 13, 2012
Slide 1: Sterne Agee Financial Institutions Investor Conference
Exhibit 99.1 Investor Sterne February President Vincent Chief F.N.B.Financial Agee Corporation J.Presentation 13, and Delie, Calabrese Financial 2012 Chief Officer Jr. Executive Institutions Officer Investor Conference
Slide 2: Cautionary Statement Regarding Forward-Looking Information and Non-GAAP Financial Measures
Cautionary This affecting are limited speeds, affect markets; confidence actions. To results, enhance requires: financial The and Corporation, GAAP reviewed 2F.N.B. supplement atrends, can Appendix presentation number the Corporation financial to: net loan be F.N.B. the (8) measure (i) the in busine
Slide 3: F.N.B. Corporation at a glance
Fourth –Assets(1) –Loans(1) –Deposits(1) –Consumer –Headquarters Diverse –Business –Wealth –Commercial –Insurance –Merchant Attractive –#3 –Banking NYSE –Market –Member Diversified (1) 3F.N.B. Reflects Market Listed Corporation Largest Fee Management Cap S&P Locations(1) locations Footprint and $7.8
Slide 4: Experienced Executive Management Team and Respected Board
Experienced Executive John Vincent Gary Board Stephen Thirteen Eight Three 4F.N.B. C. L. former actively of Corporation Williams, J. Guerrieri J.independent Directors Delie, Calabrese Management Gurgovits, and financial involved Jr. Respected Chief Jr.President Chief President, directors Chairman, s
Slide 5: Effective Business Model
Effective –Manage Fund Target Maintain Strategically Create 5F.N.B. Acquisitions: Talent Presence: Organic Business Products: Cross-Sell: loan ashareholder Corporation neutral management: for aBusiness Growth: growth low community Lines: Deep Leading strong invest Position Expand risk asset/liabilit
Slide 6: Significant 2011 Achievements
Significant Successful Net Industry-Leading Good –Two Capital Strong 6F.N.B. Announced Completed Interest Bank Credit Corporation Financial Shareholder Raise Acquisitions 2011 2011 Margin Quality: Community Parkvale Deployed: Achievements Results: Loan Return: Maintained: Good Financial Growth: Comp
Slide 7: Industry-Leading Loan Growth
Industry Annual Linked-Quarter(3) -15.00% 2009 2010 2011 -2.32% -10.30% 0.50% 1.43% -0.53% -5.80% 4.08% 5.13% 0.65% 1.70% 5.84% 6.73% All 9.00% 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 Substantial –Sustainable Peer FNB Loan 7F.N.B. Pipelines Disciplined Significant Commercial Data Excluding
Slide 8: Attractive Market Share Position
FNB Branch 97654321Rank 10 Total Attractive Significant Source: 8F.N.B. Wells PNC Royal F.N.B. M&T Huntington Banco First Dollar Susquehanna Counties (1-166) Institution Commonwealth Corporation Financial Total Fargo Bank SNL Bank Bank Santander Corporation Market market opportunities Financial, Mar
Slide 9: Pittsburgh Market Opportunity
Pittsburgh, Deposits(1) % Deposit Commercial Deposits Market Population(2) Households(2) Projected Number 2-Year FNB –Pittsburgh MSA (1) relationship 9F.N.B. Two-year Significantly #3 Regional Deposits Branches Stable Number ofPro-forma market FNB Presence significantly Corporation Job Market market
Slide 10: Pittsburgh MSA Market Opportunity and Economic Indicators
Number 50,000 <20 <500 2,000 Pittsburgh Pennsylvania National 500+ 1-Year 2-Year 5-Year (1) F.N.B. database 10 Pittsburgh Employees Employees 1,500 Corporation % Housing 40,000 of MSA Change Market MSA Firms 1,000 MSA MSA 30,000 Average Small Appreciation Commercial Businesses Middle in Opportunity
Slide 11: FNB Banking Footprint
Banking West Ohio Pennsylvania FNB F.N.B. 11 Banking Virginia Corporation Footprint Location
Slide 12: Marcellus Shale Opportunity
Marcellus FNB Opportunity FNB’s Projected 2011 Economic State/Local Total (1) F.N.B. 12 Source: is 2015 Cumulative focus Corporation well-positioned Marcellus Shale Value 2020 “The Taxes for to date FNB has Added Pennsylvania Jobs $1.2 has Shale the given 156,695 Billion in $12.8 potential been the
Slide 13: Diversified Business Lines
Diversified Business Wealth Financing Management Commercial Investment SBA Asset Leasing Treasury Online Sweep Remote Acct Lockbox Merchant Assets $2.4 F.N.B. 13 billion Recon/Positive Loans Based Under Corporation /Banking Capture Savings Repo Management Institutional Banking Services Retail Real F
Slide 14: Regency Finance Consumer Finance Company
Conservatively 3.15%, Regency Real 57% 31% 12% 87% 63 Tennessee Kentucky Pennsylvania Ohio F.N.B. 14 Locations Estate ofCorporation ROE Real Finance Direct Estate 32.41%, Spanning runCompany Sales consumer Loans ROTE Four Finance are $164 States 36.37% finance FirstMillion Mortgages business Loanwit
Slide 15: Proven Acquisition Strategy
Pre-2002 Acquisition-Related Proven Pennsylvania –Ohio Acquisition F.N.B. 15Nine Corporation bank merger Presence Strategy strategy acquisitions integrator Expansion focused completed on enhancing since 2002, presence totaling in attractive $7.9 billion markets, in assets particularly the Pittsburgh
Slide 16: Realigned and Positioned for Growth, 2008-2012
2008-2010 2011 Positioned 2012 Realigned Universal, Focused Attracted Deepened Invested Built Achieved Net Continued Parkvale MSA Continue Retain Remain Invest F.N.B. 16 interest on market for and Corporation focused momentum, on for Financial focus top Sustainable consistent ten growth product busi
Slide 17: Operating Results
Operating F.N.B. 17 Corporation Results
Slide 18: Key Operating Highlights, Full Year 2011
KeyNon-GAAP Operating Pre-tax, Efficiency Total Commercial Consumer Transaction Net Net-Charge-Offs (Excluding NPL’s+OREO Tangible 2011 22% Improved Managed Continued Industry Very (1) Appendix portfolio; F.N.B. 18 Interest Charge-Offs Operating increase good 2010 Highlights Loan Corporation Pre-pro
Slide 19: Key Operating Highlights, Fourth Quarter 2011
Key Operating Pre-tax, Efficiency Total Commercial Consumer Transaction Net Net-Charge-Offs (Excluding NPL’s+OREO Tangible 4Q11 Solid Managed Strong –Positive (1) Appendix Florida F.N.B. 19Total 10th 11th 7th Non-GAAP Interest Charge-Offs Operating consecutive Loan profitability 3Q11 Highlights cons
Slide 20: Diversified Loan Portfolio
Diversified 2011 ($ C&I Total Well Strong $6.9 CRE: Occupied Indirect Consumer Mortgage Residential Commercial Florida Other Regency Note: F.N.B. 20 in Billion $1,364 millions) diversified CAGR% Commercial Loan Balance, Non-Owner Owner 169 2% Corporation growth 154 2% 526 8%164 2% 17% 9% 2.7% Home P
Slide 21: Deposits: Improved Funding Mix
Deposits 2011 ($ Total Transaction Loans –Focus Note: $7.9 Time Non-Interest Savings, Customer F.N.B. 2111.7% Improved in Billion millions) CAGR Deposits Balance, on to Corporation 3-year NOW, Deposits and new Repo Repos funding Deposits(1) Deposits Mix Bearing Customer client Balance and 2,158 27%
Slide 22: Investment Portfolio
Investment % ($ Agency Municipals A AAA AA CMO CCC CC BBB Trust C Bank Total Highly 98.1% Relatively –Municipal (1) F.N.B. 22Highly General 76.9% 80.4% 5% 42% Ratings in Amounts 12% 10% 4% millions(1)) 21% 23% 22% Investment Preferred(2) Stocks 2% 30% Agency Private of Corporation Rated MBS Senior f
Slide 23: Positive Annual Credit Quality Trends
Positive Annual 1.40% 0.42% 0.46% 0.58% 0.77% 1.15% Past 2.76% 3.28% 2.46% 1.87% 2.14% NPL’s+OREO 4.00% 2.84% 2.54% 1.51% 2.05% 1.30% 2009 (1) FNB Regional F.N.B. 23 Based Due+Non-Accrual Excluding 2010 1.20% 0.38% 2.73% 2.57% 1.95% 3.50% 2.74% 2.42% 1.56% 1.22% Corporation NCO’s Credit Peer on 2011
Slide 24: Positive Credit Trends: Florida Portfolio and Reserves
Positive 1.83% 0.50% 1.00% 1.50% 2.00% 2.50% Reserves 100.00% 71.92% 2009 FNB Credit results –Florida (1) F.N.B. 24Total Better-than-peer Improvements Florida Based FNB Regional 2010 quality 1.79% for Corporation Florida portfolio 78.44% Credit 90.00% to land-related on the Include 2011 Total NPL’s(
Slide 25: Stable Quarterly Net Interest Margin Trend
Stable FNB 4.00% 3.74% 1Q10 Managing remained –58.4% F.N.B. 25Lower Increasing Relatively Quarterly 2Q10 Net 3.80% 3.81% at Corporation funding December stable to Interest 3Q10 low total a3.78% 3.60% neutral Net ininvestment costs variable 4Q10 the Margin Interest 31, 3.40% 3.77% 3.77% interest 2010
Slide 26: Well Capitalized and Consistent Dividend
WellCapital 14.0% December 12.9% 11.4% 8.7% Total 6.0% 6.7% Consistent Dividend 2011 FNB Regional (1) F.N.B. 26 Capitalized 69.7% 2010 Risk-Based 9.2% 11.7% 12.0% 13.3% Corporation Peer levels 31, capital ratios 74.0% 10.0% Regulatory 2010 Group exceed at Tier management December December 8.0% Media
Slide 27: Investment Thesis
Investment F.N.B. 27 Corporation Thesis
Slide 28: Long-Term Investment Thesis
Long-Term Targeted Expected (Targeted Total Long-term 2011 FNB Regional Top (1) F.N.B. 28 Top 100 20.95% 2010 Shareholder Corporation 100 Banks EPS Peer Dividend Payout investment Investment banks 53.39% Growth Group &Ratio Thrifts(1) Return and Yield Median 5-6% thesis thrifts Thesis 60-70%) 4-6% 9
Slide 29: Relative Valuation Multiples
Relative FNB National Price/Earnings FY12 FY13 Price/Tangible Price/Book Dividend Data of F.N.B. 29 February per Regional Consensus Corporation Valuation SNL Peer Yield(2) Value(2) 8,Group Financial, 2012 Peer Book Ratio(2) EPS 4.0% Multiples Group closing 1.3x Value(2) Median(1) (FNB=$0.83) (FNB=$0
Slide 30: 2012 Outlook
2012 Positive Solid Net –Non-interest Continued Note: results F.N.B. 30Mid-single Full interest Outlook deposit The year excluding Corporation 2012 2012 strong focus gradual average net 2012 income income digit growth Outlook interest Outlook efficiency on the organic organic improvement organic gro
Slide 31: Appendix
F.N.B. Corporation Appendix 31
Slide 32: Appendix: Regional Peer Group
Appendix: Regional CBCR CBCYB CBSH CBU CHFC CRBC CSE FCF FFBC FINN FMBI FMER FRME FULT MBFI NBTB F.N.B. 32 First CapitalSource, Community First Fulton First MB Chemical Commerce Corporation NBT Capital Citizens First Central Peer Commonwealth Regional Financial, National Midwest Financial Merit Merc
Slide 33: Appendix: Loan Portfolio Risk Profile
Appendix: $Loan CRE: Home Indirect Residential Commercial Other Regency Florida Total F.N.B. 33in millions $6,856,667 Risk Non-Owner Owner 38,261 Equity Corporation 154,081 Consumer Finance Profile Loan Mortgage and Leases Balance Occupied 0.6% and2.2% Risk Industrial 100.0% 163,856 Other –Occupied
Slide 34: Appendix: Board of Directors
Appendix: Board Name Stephen Vincent ownership Philip Dawne David D. Robert Harry Arthur John CapGen Stanton 1994 William Earl including F.N.B. 34 Stephen K. W. toF. Age E. of J. Corporation J. R. S. Wahl 2008, R. J. J. Rose B. Financial Radcliffe Malone Gingerich Directors Rooney, McCarthy prior Hi
Slide 35: Appendix: Non-GAAP Reconciliation, Operating Earnings
$Appendix: Fourth Net Merger-related Diluted Effect Amortization 99,881 Average Less: 620,223 Operating F.N.B. 35in income thousands Average Pension Effect of Corporation Quarter 99,705 earnings 609,943 total merger-related diluted net return GAAP $23,737 ofof shareholders’ income: income credit, in
Slide 36: Appendix: Non-GAAP Reconciliation, Pre-tax Pre-provision Earnings
$Appendix: Fourth Amortization 99,881 Average Less: 9,348,532 Operating Non-interest Net Adjustments: Gain FHLB Merger Pension Pre-tax, F.N.B. 36in impairment interest thousands on Average prepayment Corporation Quarter 99,705 costs pre-provision credit sale total net return 9,370,837 GAAP income in
Slide 37: Appendix: Non-GAAP Reconciliation, Tangible Book Value
$Appendix: Fourth Ending 610,785 Total Less: 9,187,069 Tangible F.N.B. 37in thousands shareholders’ assets intangibles Corporation Quarter shares 614,208 book equity 9,351,061 GAAP 9,786,483 outstanding value 2011 Third / (599,414) 504,976 tangible toequity 2010 per Non-GAAP 8,398,767 Quarter 9,951,
Slide 38: Appendix: Efficiency Ratio and Credit Marks
$Appendix: Fourth 126,012 Total Credit 6,882,017 Allowance loans Efficiency The merger F.N.B. 38in thousands efficiency loans +marks Corporation Quarter costs credit 134,745 6,814,472 ratio GAAP for 6,856,667 by 25,350 marks loan 2011 ratio Third calculation: the 135,846 tolosses sum is1.83% Non-GAA
FNB — Sterne Agee Financial Institutions Investor Conference 2012 on 6ix