F.N.B. Corporation · NYSE:FNB
F.N.B — Q3 2012 Earnings Presentation
18 slides from F.N.B's earnings presentation, Oct 23, 2012
Slide 1: F.N.B. Corporation Third Quarter 2012 Earnings Conference Call
F.N.B. Corporation Third Quarter 2012 Earnings Conference Call October 23,, 2012
Slide 2: Cautionary Statement Regarding Forward-Looking Information and Non-GAAP Financial Information
Cautionary Statement Regarding Forward-Looking Information and Non-GAAP Financial Information This presentation and the reports FF.N.B. N B Corporation files with the Securities and Exchange Commission often contain “forward forward‐looking looking statements statements” relating to present or futur
Slide 3: Additional Information About the Merger
Additional Information About the Merger ADDITIONAL INFORMATION ABOUT THE PENDING MERGER WITH ANNAPOLIS BANCORP, INC. F.N.B. Corporation and Annapolis Bancorp, Inc. will file a proxy statement/prospectus and other relevant documents with the SEC in connection with the merger. SHAREHOLDERS OF ANNAPOLI
Slide 4: 3Q12 Highlights
3Q12 Highlights Strong St Operating O ti Results R lt and d Sustained S t i d Momentum M t Net income of $30.7 million and diluted earnings per share of $0.22 Net interest margin of 3.70% Strong loan growth - 13th consecutive quarter of organic growth for total loans Strong transaction dep
Slide 5: 3Q12 Operating Highlights
3Q12 Operating Highlights 3Q12 2Q12 3Q11 Consistent Net income $30,743 $29,130 $23,773 Earnings Growth Earnings per diluted share $0.22 $0.21 $0.19 ROTE 19.10% 19.01% 16.23% Profitability ROTA 1.03% 1.00% 0.95% Performance Net interest margin 3.70% 3.80% 3.79% Efficiency ratio 56.8% 57.7% 59.0% Tota
Slide 6: Sustained Loan Growth
Sustained Loan Growth Linked Quarter and Y-o-Y Loan Growth (%)(1) 12.0% 9.9% 10.0% 8.8% 7.6% 7.6% 8.0% Positive loan growth results despite 6.3% 6.3% declines in the Florida portfolio and the 5.1% 4.9% 6.0% residential mortgage portfolio(3) 4.4% 4.0% 4.0% 2.8% 1.4% 2.0% 0.0% 3Q11 4Q11 1Q12 2Q12 3Q12
Slide 7: Positive Operating Trends: Pre-Provision Net Revenue Results
Positive Operating Trends: Pre-Provision Net Revenue Results Pre-Provision Net Revenue 21% $147,993 $160,000 $140,000 $122,014 $120 000 $120,000 21% $100,000 Year-over-Year $80,000 PPNR $60,000 Growth $40,000 $20,000 $‐ 3Q11 YTD 3Q12 YTD Pre-Provision Pre Provision Net Revenue EPS 9% $1.08 $1.05 $1.
Slide 8: Acquisition Announcement: Annapolis Bancorp, Inc.
Acquisition Announcement: Annapolis Bancorp, Inc. Attractive Market Entry Opportunity Natural progression Consistent with stated expansion strategy Market opportunity Attractive demographics Significant commercial banking opportunities Excellent retail and wealth opportunities F.N.B. (FN
Slide 9: Asset Quality Results
Asset Quality Results(1) $ in thousands 3Q12 2Q12 3Q11 3Q12 Highlights Overall results reflect the consistent, NPL’s+OREO/Total loans+OREO 1.69% 1.93% 2.48% solid performance of the core portfolios (P (Pennsylvania l i anddR Regency portfolios, tf li representing 99.1% of total loans) Total delinq
Slide 10: Balance Sheet Highlights
Balance Sheet Highlights 3Q12-2Q12 3Q12 Average Balances, $ in millions Growth(1) 3Q12 Highlights Balance $ % Strong overall loan and transaction Securities $2,252 -$2.5 -0.4% deposit growth Sustained total loan growth Total loans $7,928 $96.3 4.9% momentum: 13th consecutive quarter of total loa
Slide 11: Net Interest Margin
Net Interest Margin Net Interest Margin Trend 4.00% Parkvale Acquisition 3.80% 1/1/2012 3.80% 3.79% 3.79% 0.10% 3.70% 3.74% 0.05% 3.70% 3.65% 3.60% 3.40% 3.20% 3.00% 3Q11 4Q11 1Q12 2Q12 3Q12 Core Net Interest Margin Accretable Yield 11
Slide 12: Non-Interest Income
Non-Interest Income $ in thousands 3Q12 2Q12 3Q11 3Q12 Highlights Consistent diverse fee revenue sources Service charges $17,666 $17,588 $16,057 and results Insurance commissions and fees 4,578 3,882 4,002 Insurance commissions and fees benefited from seasonal commissions Securities commissions
Slide 13: Non-Interest Expense
Non-Interest Expense $ in thousands 3Q12 2Q12 3Q11 3Q12 Highlights Positive efficiency ratio trends Salaries and employee benefits $41,579 $41,070 $37,149 OREO expenses trending favorably Occupancy and equipment 11,568 11,862 10,263 Operating leverage from Parkvale Amortization of intangibles
Slide 14: Capital Position
Capital Position (1) June 30, 2012 September 30, 2012 14 0% 14.0% 12.0% 12.3% 12.0% 10.5% 10.7% 10.0% 8.1% 8.2% 8.0% 6.0% 6.0% 6.0% 4.0% 2.0% 0.0% Total Risk‐Based Tier One Leverage Tangible Common Equity (1) September 30, 2012 Total Risk‐Based and Tier One represent estimated ratios 14
Slide 15: Concluding Remarks
Concluding Remarks Strong St third thi d quarter t and d year-to-date t d t results lt FNB is well-positioned Significant achievements and progress on initiatives through the first nine months of 2012 Integrated the Parkvale acquisition E-delivery platform strategy execution Branch optim
Slide 16: Appendix
Appendix ENB Corporation 16
Slide 17: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Return on Average Tangible Equity Return on Average Tangible Assets For the Quarter Ended September 30 Year-to-Date September 30, 2012 June 30, 2012 September 30, 2011 2012 2011 Net income $30,743 $29,130 $23,774 $81,455 $63,310 Return on average tangible equity Net i
Slide 18: GAAP to Non-GAAP Reconciliation: Pre-Provision Net Revenue
GAAP to Non-GAAP Reconciliation P P Pre-Provision i i Net N t Revenue R September 30 Year-to-Date 2012 2011 Pre-Provision Net Revenue (PPNR) Net interest income (FTE) $284,518 $242,353 Non-interest Non interest income 99,336 87,320 Non-interest expense 242,237 212,143 Pre-Provision Net Revenue (GAAP