F.n.b. Corporation · NYSE:FNB
F.n.b — Q3 2017 Earnings Presentation
19 slides from F.n.b's earnings presentation, Oct 23, 2017
Slide 1: F.N.B. Corporation Earnings Presentation Third Quarter 2017
Exhibit 99.1 F.N.B.Corporation Earnings Presentation ThirdQuarter 2017 October 19, 2017
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 document containsforward looking statements within the meaningof the Private SecuritiesLitigation Reform Act of 1995, which contain F.N.B. Corporation’s (F.N.B.)expectationsor predictionsof future fina
Slide 3: Key Messages
Key Messages • Record revenue and record net income • Continued to grow loans and deposits • Effective expense control • Improved efficiency ratio • Continued satisfactory asset quality • Positioned to deliver on our long-term financial objectives 3
Slide 4: 3Q17 Financial Highlights
3Q17Financial Highlights As of or for the period ending 3Q17 2Q17 3Q16 Net income available to common stockholders (millions) $75.7 $72.4 $50.2 Reported results Net incomeper diluted common share $0.23 $0.22 $0.24 Book value per common share $13.39 $13.26 $11.72 Operating net income available to com
Slide 5: Asset Quality Results
1 Asset Quality Results $ in thousands 3Q17 2Q17 3Q16 3Q17Highlights NPLs+OREO/Total average originated 0.91% 1.08% 1.08% • Consistent and stable credit loans and leases + OREO quality results across the portfolio Originated Delinquency 0.91% 0.99% 1.00% 2 Provision for credit losses $16,768 $16,756
Slide 6: Balance Sheet Highlights
Balance Sheet Highlights QoQ YoY 3Q17 2Q17 3Q16 QoQ YoY 1 1 3Q17 Highlights Average, $ in millions Organic Organic • Continued growth in Securities $5,725 $5,607 $4,241 2.1% 35.0% commercial loans concentrated in Pittsburgh, Cleveland Total loans $20,654 $20,361 $14,642 1.4% 41.1% 5.7% 6.6% and Balt
Slide 7: Revenue Highlights
Revenue Highlights QoQ YoY 3Q17 2Q17 3Q16 3Q17 Highlights $ in thousands Total interest income $263,514 $251,034 $175,110 5.0% 50.5% Total interest expense 38,283 32,619 17,604 17.4% 117.5% • Total revenue growth driven by higher net Net interest income $225,231 $218,415 $157,506 3.1% 43.0% interest
Slide 8: Non-Interest Income
Non-Interest Income QoQ YoY 3Q17 2Q17 3Q16 3Q17 Highlights $ in thousands Service charges $33,610 $33,389 $25,411 0.7% 32.3% • Growth in insurance, wealth management and mortgage Trust services 5,748 5,715 5,268 0.6% 9.1% banking offset by lower capital markets activity Insurancecommissions andfees
Slide 9: Non-Interest Expense
Non-Interest Expense QoQ YoY 3Q17 2Q17 3Q16 3Q17 Highlights $ in thousands Salaries and employee benefits $82,383 $84,899 $60,927 -3.0% 35.2% • Stable expenses reflect lower salaries and benefits Occupancy and equipment 27,434 26,480 20,367 3.6% 34.7% expense offset by higher occupancy and equipment
Slide 10: Execution of FNB's Long-Term Growth Strategy
Execution of FNB’s Long-Term Growth Strategy KeyPerformance Indicators YTD 2017 FY 2016 Long-Term Target Strategy Maintain Low- Originated net charge-offs Remain disciplined 33 bps 34 bps 25-50 bps Risk Profile (annualized)/average loans through the cycle Average loans 6% 8% 7-9% Drive Organic Grow
Slide 11: Appendix
Appendix Appendix 11
Slide 12: 2017 Peer Group Listing
2017 Peer Group Listing Ticker Institution Ticker Institution ASB Associated Banc-Corp PBCT People’s United Financial, Inc. CBSH Commerce Bancshares, Inc. PB Prosperity Bancshares, Inc. CMA Comerica, Inc. SNV SynovusFinancial Corp. CFR Cullen/Frost Bankers,Inc. TCF TCF Financial Corp. EWBC East West
Slide 13: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation For The Quarter Ended $ in thousands except per share amounts 30-Sep-17 30-Jun-17 31-Mar-17 31-Dec-16 30-Sep-16 Operating net income available to common stockholders Net income available to common stockholders $ 75,683 $ 72,396 $ 20,969 $ 49,280 $ 50,158 Merger-relate
Slide 14: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation For The Quarter Ended $ in thousands 30-Sep-17 30-Jun-17 31-Mar-17 31-Dec-16 30-Sep-16 Return on average tangible common equity (ROATCE) Net income available to common stockholders (annualized) $ 300,266 $ 290,381 $ 85,042 $ 196,049 $ 199,543 Amortization of intangibl
Slide 15: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation For The Quarter Ended $ in thousands 30-Sep-17 30-Jun-17 31-Mar-17 31-Dec-16 30-Sep-16 Return on average tangible assets (ROATA) Net income (annualized) $ 308,237 $ 298,443 $ 93,191 $ 204,050 $ 207,540 Amortization of intangibles, net of tax (annualized) 12,392 12,547
Slide 16: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation For The Quarter Ended $ in thousands 30-Sep-17 30-Jun-17 31-Mar-17 31-Dec-16 30-Sep-16 Operating net income Net income $ 77,693 $ 74,406 $ 22,979 $ 51,291 $ 52,168 Merger-related expense 1,381 1,354 52,724 1,649 299 Tax benefit of merger-related expense (483) (419) (1
Slide 17: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation For The Quarter Ended $ in thousands except per share amounts 30-Sep-17 30-Jun-17 31-Mar-17 31-Dec-16 30-Sep-16 Tangible book value per common share (at period-end) Total stockholders' equity $ 4,435,921 $ 4,392,438 $ 4,355,795 $ 2,571,617 $ 2,570,580 Less: preferred
Slide 18: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation For The Quarter Ended $ in thousands 30-Sep-17 30-Jun-17 31-Mar-17 31-Dec-16 30-Sep-16 Efficiency Ratio (FTE) Non-interest expense $ 163,743 $ 163,714 $ 187,555 $ 123,806 $ 121,050 Less: amortization of intangibles 4,805 4,813 3,098 1,602 3,571 Less: OREO expense 1,42
Slide 19: Net Interest Income and Net Interest Margin (FTE)
Net Interest Income and Net Interest Margin (FTE) For The Quarter Ended $ in thousands 30-Sep-17 30-Jun-17 31-Mar-17 31-Dec-16 30-Sep-16 Components of net interest income Net interest income $ 225,231 $ 218,415 $ 172,752 $ 159,283 $ 157,506 Net interest margin (FTE)(1) 3.44% 3.42% 3.35% 3.35% 3.36%