Slide 1: F.N.B. Corporation Investor Presentation First Quarter 2014
Exhibit 99.1 F.N.B. Corporation Investor Presentation First Quarter 2014 May 14, 2014
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 F.N.B. Corporation files with the Securities and Exchange Commission often contain “forward-looking statements” relating to present or future trends or factors affecting th
Slide 3: Important Information About the Pending Merger
Important Information About the Pending Merger Merger of F.N.B. and OBA Financial Services Inc. In connection with the proposed merger between F.N.B. and OBA Financial Services, Inc., a definitive proxy statement of and OBA Financial Services, Inc. and prospectus of F.N.B. will be filed with the SEC
Slide 4: F.N.B. Corporation
F.N.B. Corporation About F.N.B. Corporation Experienced Leadership Team Favorably Positioned for Long-Term Success Strong Operating Trends 4
Slide 5: About F.N.B. Corporation
About F.N.B. Corporation • Assets: $14.9 billion (1) • Loans: $10.2 billion (1) High-Quality, Growing Regional Financial Institution • Deposits: $12.2 billion (1) • Banking locations: 289 (1) • Market Capitalization: $2.1 billion • Attractive and expanding footprint: PA/OH/MD/WV: Banking locations s
Slide 6: Experienced Leadership Team
Experienced Leadership Team Experienced and respected executive management team has guided FNB through the cycle, and positioned Company for long-term, sustained growth Years of Banking Experience Joined FNB Prior Experience President and CEO Vincent J. Delie, Jr. 27 2005 National City President, Fi
Slide 7: Favorably Positioned for Long-Term Success
Favorably Positioned for Long-Term Success High-Quality Earnings and Consistent Strong Performance Relative to Peers Full Year 2013 R - ecord net income, record loan production of $3.3 billion, solid operating results First Quarter 2014 –Continued solid profitability performance and high-quality ear
Slide 8: Operating Results Relative to Peers
Operating Results Relative to Peers Efficiency Ratio 70.0% Net Interest Margin 3.90% 65.0% 3.70% 3.66% 3.64% 3.67% 60.0% 3.63% 3.62% 3.50% 59.7% 59.7% 59.0% 58.6% 57.8% 55.0% 3.30% 50.0% 3.10% 45.0% 2.90% 40.0% 2.70% 35.0% 30.0% 2.50% 1Q13 2Q13 3Q13 4Q13 1Q14 1Q13 2Q13 3Q13 4Q13 1Q14 FNB Peer Group
Slide 9: Consistent Loan and Transaction Deposit Growth
Consistent Loan and Transaction Deposit Growth Consistent Growth in Loans and Transaction Deposits Loans Transaction Deposits and Customer Repos (Spot Balances, In Billions) (Spot Balances, In Billions) CAGR 4Q10 1Q14 – CAGR 4Q10 1Q14 – Total 16.3% Total 18.7% (1) Organic 6.6% Organic (1) 9.3% $8.9
Slide 10: Transaction Deposit Growth - Strengthened Funding Mix
Transaction Deposit Growth - Strengthened Funding Mix Consistent Transaction Deposit Growth Results in Strengthened Deposit Mix Total Transaction Deposits and Customer Repos Mix 27% 26% 24% 24% 29% 74% 76% 76% 71% 73% 12/31/2010 12/31/2011 12/31/2012 12/31/2013 3/31/2014 Transaction Deposits and Cus
Slide 11: Consistent Asset Quality – Continued High-Quality Earnings
Consistent Asset Quality – Continued High-Quality Earnings FNB Continues to Deliver High-Quality Earnings Provision for Loan Losses as % of Net Charge-Offs ($) Allowance for Loan Losses/Total Loans (%) (1) FNB provision for loan losses exceeds net charge-offs to FNB allowance for loan losses to tota
Slide 12: 1Q14 Comparative EPS Trends
1Q14 Comparative EPS Trends 1Q14 Comparative EPS Impacted Initial full quarter impact from 4Q13 1Q14, Linked-Quarter and Prior Year Quarter EPS Trends (1) capital actions completed to proactively position FNB for Basel III Third quarter of Durbin-related revenue impact $0.01 Increased state taxes du
Slide 13: Enhanced Capital Position
Enhanced Capital Position Capital Position as of March 31, 2014 Capital levels at March 31, 2014 reflect benefit of fourth quarter of 2013 capital actions Raised $161.3 million in net proceeds through the issuance of 4.7 million shares of common stock and 4.4 million depositary shares of non-cumulat
Slide 14: Market Position
Market Position Strong Market Position Regional Alignment Presence in Major Markets Acquisition-Related Expansion Enhances Organic Growth Opportunities 14
Slide 15: FNB Banking Footprint
FNB Banking Footprint FNB Recent Acquisition Summary FNB Market MSA MSA Share Population 2.4 Million Pittsburgh #3 (#22 MSA) Cleveland MSA PVSA - Closed 1Q12 2.7 Million Baltimore #10 (#20 MSA) ANNB - Closed 2Q13 Pittsburgh MSA BCSB - Closed 1Q14 OBAF – Pending, expected close 3Q14 2.1 Million Curre
Slide 16: MSA Market Share - Proven Success, Opportunity For Growth
MSA Market Share - Proven Success, Opportunity For Growth Established MSAMarkets– ProvenSuccess, LeadingSharePositionAchieved Pittsburgh, PA MSA All Other FNB MSAs Total Deposits Market Total Deposits Market Rank Institution ($000) Share (%) Rank Institution ($000) Share (%) 1 PNC Financial Services
Slide 17: Significant Commercial Prospects
Significant Commercial Prospects Significant Commercial Prospects Concentrated in Pittsburgh, Maryland & Cleveland Opportunity to Leverage Core Competency and Drive Sustained Organic Growth Strong Concentration of Commercial Prospects In Metro Expansion Markets Over 175,000 Total Businesses (1) 65,1
Slide 18: Disciplined Acquisition Strategy – Platform for Organic Growth
Disciplined Acquisition Strategy – Platform for Organic Growth Disciplined and Consistent Acquisition Strategy Strategy Disciplined identification and focus on markets that offer potential to leverage core competencies and growth opportunities Criteria Create shareholder value Meet strategic vision
Slide 19: Expanded Franchise = Enhanced Organic Growth Prospects
Expanded Franchise = Enhanced Organic Growth Prospects FNB Branches FNB Counties of Operation 289 57 Acquisition- 159 27 Related Expansion in Higher Growth 2007 1Q14 Pro-Forma 2007 1Q14 Pro-Forma Markets FNB Markets Population FNB Markets Households 12.6 Enhances (MSA) (MSA) 5.0 In Millions Organic
Slide 20: FNB Maryland Acquisitions – Platform For Growth In Place
FNB Maryland Acquisitions – Platform For Growth In Place FNB’s Expanding Maryland Presence Continues to Strengthen FNB Maryland Presence Current FNB Locations Solid platform for growth established in under one year OBAF Locations Top 10 deposit market share Cost effective, lower-risk acquisitions At
Slide 21: Strong Operating Results
Strong Operating Results 1Q14 Highlights and Trends 21
Slide 22: 1Q14 Operating and Strategic Highlights
1Q14 Operating and Strategic Highlights First Quarter 2014 Operating Result Highlights (1) 1Q14 operating net income available to common shareholders of $30.8 million; earnings per diluted common share of $0.19 First full quarter of 4Q13 capital raise, third quarter of Durbin impact and increased ba
Slide 23: 1Q14 Financial Highlights – Quarterly Trends
1Q14 Financial Highlights – Quarterly Trends Current Prior Prior Year Quarter Quarter Quarter 1Q14 4Q13 1Q13 Net Income ($ millions) $33.1 $32.5 $28.8 Operating Earnings (1) Net income available to common shareholders ($ millions) $30.8 $32.5 $28.8 Earnings per diluted common share $0.19 $0.21 $0.20
Slide 24: Balance Sheet Highlights – Quarterly Averages
Balance Sheet Highlights – Quarterly Averages Reported Organic 1Q14 Growth(1) Growth(1) Average Balances, $ in Millions Balance $ $ % 1Q14 Highlights Continued balance sheet growth, both Securities $2,496 $180.6 - - organically and through acquisitions Total reported growth reflects the benefit from
Slide 25: Net Interest Margin Trends
Net Interest Margin Trends Net Interest Margin Trends Net Interest Margin Trends Continued stability in the core net interest margin Accretable yield benefit of $0.6 million in 1Q14 compared to $1.7 million and $1.3 million in 4Q13 and 1Q13, respectively. 1Q14 net interest income (FTE) totaled $109.
Slide 26: Asset Quality Results
Asset Quality Results (1) $ in Thousands 1Q14 4Q13 1Q13 1Q14 Highlights Overall consistent, solid performance NPL’s+OREO/Total loans+OREO 1.46% 1.44% 1.59% NPL’s+OREO/Total loans +OREO consistent with the prior quarter, with the slight increase reflecting the 3 basis point impact from the Total deli
Slide 27: Asset Quality Trends
Asset Quality Trends NPL’s+OREO/ NCO’s Originated Loans/ (1)(2) (1)(3) Total Originated Loans+OREO Total Originated Loans Peerdata per SNLFinancial, refer to Appendixfor peerlisting; (1) Metrics shownare originated portfolio. “Originated portfolio” or “Originated loans” excludes loans acquired at fa
Slide 28: Investment Thesis
Investment Thesis Long-Term Investment Thesis 28
Slide 29: Long-Term Investment Thesis - Return Focused
Long-Term Investment Thesis - Return Focused FNB’s long-term investment thesis reflects a commitment to efficient capital management and creating value for our shareholders Long-Term Investment Thesis Targeted EPS Growth 5-6% Targeted Dividend Yield (Targeted Payout Ratio 60-70%) 4-6% Implied Total
Slide 30: Consistent Operating Results
Consistent Operating Results FNB’s ability to deliver consistent operating results exceeds peer results FNBandPeerVolatility(StandardDeviation1Q10– 1Q14) ROAA Volatility Revenue/Avg Assets Volatility 0.25% 0.060% 0.20% 0.050% 0.040% 0.15% 0.030% 0.10% 0.020% 0.05% 0.010% 0.00% 0.000% FNB 2014 Peer M
Slide 31: Attractive P/E Valuation Highlights Potential Upside
Attractive P/E Valuation Highlights Potential Upside Historical Price / TBV Per Share (x) Price / 2015 EPS Estimate (x) Consistent premium to peers based on price to FNB currently reflects an attractive valuation tangible book value per share based on future earnings 15.00x 4.00x 14.00x 13.81x 3.50x
Slide 32: FNB Dividend Yield
FNB Dividend Yield FNB Dividend Yield Consistently Above Peer Levels Annualized Dividend Yield 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% FNB Peer Median Market data per SNL Financial as of May 9, 2014. Refer to Supplemental Information for regional peer listing. 32
Slide 33: Supplemental Information
Supplemental Information 33
Slide 34: Supplemental Information Index
Supplemental Information Index Diversified Loan Portfolio Deposits and Customer Repurchase Agreements Investment Portfolio Loan Risk Profile Regency Finance Company Profile Regional Peer Group Listing GAAP to Non-GAAP Reconciliation 34
Slide 35: Diversified Loan Portfolio
Diversified Loan Portfolio 3/31/2014 CAGR % of Portfolio ($ in millions) 12/31/08- $9.9 Billion Loan Portfolio Balance 3/31/14 12/31/08 3/31/14 March 31, 2014 C&I $1,965 14.9% 16% 20% CRE: Non-Owner Occupied 1,973 15.3% 16% 20% CRE: Owner Occupied 1,453 7.4% 17% 15% Commercial Leases 161 32.3% 1% 1%
Slide 36: Deposits and Customer Repurchase Agreements
Deposits and Customer Repurchase Agreements 3/31/2014 CAGR Mix % $11.7 Billion Deposits and ($ in millions) 12/31/08- Customer Repo Agreements Balance 3/31/14 12/31/08 3/31/14 March 31, 2014 Savings, NOW, MMDA $5,543 13.8% 44% 47% Time Deposits 2,777 3.5% 36% 24% Non-Interest Bearing 2,353 19.6% 14%
Slide 37: Investment Portfolio
Investment Portfolio % Ratings Highly Rated $2.7 Billion Investment Portfolio ($ in millions(1)) Portfolio Investment % March 31, 2014 Agency MBS $1,081 40% AAA 100% Ratings Composition CMO Agency 1,063 39% AAA 100% Agency Senior Notes 366 13% AAA 100% AAA 11% AA 57% Municipals 146 5% A 31% BBB 1% S
Slide 38: Loan Risk Profile
Loan Risk Profile Balance YTD Net Charge- Total Past (1) (1) $ in millions 3/31/2014 % of Loans NPL's/Loans Offs/Loans Due/Loans(1) Commercial and Industrial $1,965 19.8% 0.24% 0.03% 0.37% CRE: Non-Owner Occupied 1,973 19.8% 0.75% -0.03% 0.80% CRE: Owner Occupied 1,453 14.6% 2.13% 0.69% 2.40% Home E
Slide 39: Regency Finance Company Profile
Regency Finance Company Profile Consumerfinancebusinesswith over 80 yearsof consumerlendingexperience Credit quality: 1Q14 net charge-offs to average loans of 4.15% Returns: 1Q14: ROA 3.73%, ROE 37.45%, ROTE 41.50% Regency Finance Company $171 Million Loan Portfolio Pennsylvania Ohio 72 Locations Sp
Slide 40: Regional Peer Group Listing
Regional Peer Group Listing Ticker Institution Ticker Institution ASBC Associated Bancorp ONB Old National Bancorp AF Astoria Financial Corporation PVTB Private Bancorp, Inc. CBSH Commerce Bancshares, Inc. SUSQ Susquehanna Bancshares, Inc. FMER First Merit Corp. UMBF UMB Financial Corp. FULT Fulton
Slide 41: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Operating Return on Average Tangible Common Equity Operating Return on Average Tangible Assets For the Quarter Ended March 31, 2014 December 31, 2013 March 31, 2013 Operating net income Net income available to common shareholders $32,203 $28,439 $28,538 Add: Merger an
Slide 42: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Full Year Non-GAAP Reconciliation Year Ended December 31, 2013 2012 2011 2010 Operating net income Net income $117,804 $110,410 $87,047 $74,652 Add: Merger and severance costs, net of tax 5,336 5,203 3,238 402 Add: Litigation settlement accrual, net of tax - 1,950 - -