Slide 1: F.N.B. Corporation Earnings Presentation Second Quarter 2022
F.N.B. Corporation Earnings Presentation Second Quarter 2022 July 21, 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 Second Quarter 2022 Highlights Earnings per diluted common share of $0.30 and operating (non-GAAP) earnings per diluted share of $0.31. Total loans and leases (period-end), excluding PPP (non-GAAP), increased $1.3 billion, or 19.5% annualized, linked- quarter. o Commercial l
Slide 6: Second Quarter Financial Highlights
Second Quarter Financial Highlights 2Q22 1Q22 2Q21 Net income available to common stockholders $107.1 $51.0 $99.4 (millions) Reported Earnings per diluted common share $0.30 $0.15 $0.31 Results Book value per common share $15.19 $15.19 $15.43 Operating net income available to common $108.7 $92.0 $10
Slide 7: Asset Quality
Asset Quality $ in millions, unless otherwise stated 2Q22 1Q22 2Q21 2Q22 Highlights o Credit quality metrics continue to trend favorably Delinquency 0.58% 0.66% 0.75% and the portfolio remains well positioned. NPLs+OREO/Total loans and o Reduced delinquency and NPL levels were 0.35% 0.40% 0.54% driv
Slide 8: Balance Sheet Highlights
Balance Sheet Highlights (3) Average, $ in millions 2Q22 1Q22 2Q21 QoQ ∆ YoY ∆ 2Q22 Highlights o Commercial loan growth was Securities 7,070 6,956 6,167 1.6% 14.6% led by the Pittsburgh, Cleveland and North Carolina (4) markets. Total Loans 27,245 26,239 25,397 3.8% 7.3% o Consumer loan growth was C
Slide 9: Revenue Highlights
Revenue Highlights $ in thousands, unless otherwise stated 2Q22 1Q22 2Q21 QoQ Δ(2) YoY Δ 2Q22 Highlights Total interest income $280,778 $253,580 $252,846 10.7% 11.0% o Net interest income increased from the prior quarter due to growth in Total interest expense 27,088 19,504 24,975 38.9% 8.5% average
Slide 10: Non-Interest Income
Non-Interest Income $ in thousands 2Q22 1Q22 2Q21 QoQ Δ(1) YoY Δ 2Q22 Highlights o Service charges Service charges $34,693 $31,515 $29,726 10.1% 16.7% sequential growth of $3.2 million was driven by interchange fees, treasury Trust income 9,713 10,349 9,282 (6.1%) 4.6% management, and increased cust
Slide 11: Non-Interest Expense
Non-Interest Expense $ in thousands 2Q22 1Q22 2Q21 QoQ Δ (2) YoY Δ 2Q22 Highlights Salaries and employee benefits (1) $103,870 $112,130 $102,025 (7.4%) 1.8% o Salaries and employee benefits decline (1) primarily related to Occupancy and equipment 34,455 34,257 31,334 0.6% 10.0% prior quarter’s seaso
Slide 12: Net Interest Income and Net Interest Margin (FTE)
Net Interest Income and Net Interest Margin (FTE) o Increased levels of cash continue to negatively impact net interest margin. o PPP contributed $1.6 million of net interest income in 2Q22, compared to $7.4 million in 1Q22 and $25.0 million in 2Q21. o Purchase accounting accretion (PAA) contributed
Slide 13: Full Year 2022 Financial Objectives
Full Year 2022 Financial Objectives(2) Q3 2022 Guidance FY 2022 Guidance Commentary High single digit organic growth, excluding Spot Loans Low-to-mid teen growth Howard Bank Balance (1) Sheet Spot Deposits Mid-to-high single digit growth Assumes an additional 150 bps in rate hikes Net Interest Incom
Slide 14: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation 14
Slide 15: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation 15
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