F.N.B. Corporation · NYSE:FNB
F.N.B — Q1 2013 Earnings Presentation
17 slides from F.N.B's earnings presentation, Apr 24, 2013
Slide 1: F.N.B. Corporation First Quarter 2013 Earnings Conference Call
F.N.B. Corporation First Q Quarter 2013 Earnings Conference Call April 24, 2013
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. F N B Corporation files with the Securities and Exchange Commission often contain “forwardforward‐looking looking statements statements” relating to present or futur
Slide 3: 1Q13 Highlights
1Q13 Highlights Very Productive Quarter and Great Start to 2013 Solid Operating Results Year-over-year y EPS growth g of 5% Consistent loan growth driven by C&I lending Stable net interest margin Solid S lid assett quality lit results lt Positive trends seen in fee-based businesses Con
Slide 4: 1Q13 Operating Highlights
1Q13 Operating Highlights Current Prior Prior Year Quarter Quarter Quarter 1Q13 4Q12 1Q12 Net income – operating $28,767 $32,116 $26,524 Earnings(1) Earnings per diluted share - operating $0.20 $0.23 $0.19 ROTE(1) 17 46% 17.46% 19 51% 19.51% 17 78% 17.78% Profitability ROTA(1) 1.08% 1.18% 1.04% Perf
Slide 5: Relationship-Based Focus Drives Growth
Relationship-Based Focus Drives Growth Year-over-Year Loan and Transaction Deposit Growth(1) Strong sales culture drives loan growth Relationship-based focus drives related growth in lower-cost transaction deposits and repos Total Loans Transaction Deposits and Customer Repurchase Agreements $450.0
Slide 6: Asset Quality Results
Asset Quality Results(1) $ in thousands 1Q13 4Q12 1Q12 1Q13 Highlights Consistent, solid performance with continued favorable trends NPL’s+OREO/Total loans+OREO 1.59% 1.60% 2.22% Total delinquency improved from 4Q12 and Total delinquency 1.45% 1.64% 2.03% 1Q13 1Q13 Provision for loan losses Pr
Slide 7: Balance Sheet Highlights
Balance Sheet Highlights Linked-Quarter Year-over-Year Growth(1) Growth 1Q13 (1Q13-4Q12) (1Q13-1Q12) Average Balances, $ in millions Balance $ % $ % 1Q13 Highlights Strong linked quarter and year year- Securities $2,254 -$1.3 -0.2% $159.6 7.6% over-year loan growth Total loans $8,189 $140.8 7.1% $
Slide 8: Net Interest Margin Trends
Net Interest Margin Trends Net Interest Margin Trends 4.00% 3 74% 3.74% 3.80% 0.10% 3.70% 3.66% 3.66% 0.05% 0.04% 3.70% 0.10% 3.65% 3.62% 3.50% 3.56% 3.00% 2.50% 2.00% 1Q12 2Q12 3Q12 4Q12 1Q13 Core Net Interest Margin Accretable Yield 8
Slide 9: Non-Interest Income
Non-Interest Income $ in thousands 1Q13 4Q12 1Q12 1Q13 Highlights Service charges reflect seasonally lower Service charges $16,531 $17,636 $17,165 transaction volume (linked-quarter) Favorable Wealth Management (securities Insurance commissions and fees 4,430 3,794 4,172 commissions and trust in
Slide 10: Non-Interest Expense
Non-Interest Expense $ in thousands 1Q13 4Q12 1Q12 1Q13 Highlights Salaries and benefits increase reflect Salaries and employee benefits $43,905 $40,964 $44,606 seasonal trends (linked-quarter) Occupancy and equipment 12,190 11,676 11,792 Normal seasonal increases in employee benefits, primarily
Slide 11: Capital Position
Capital Position (1) December 31, 2012 March 31, 2013 14.0% 12.2% 12.2% 12.0% 10.7% 10.7% 10.0% 8.3% 8.4% 8.0% 6.1% 6.2% 6.0% 4.0% 2.0% 0.0% Total Risk‐Based Tier One Leverage Tangible Common Equity (1) March 31, 2013 Total Risk‐Based and Tier One represent estimated ratios 11
Slide 12: Reposition and Reinvest – Actions Drive Long-Term Performance
Reposition and Reinvest – Actions Drive Long‐Term Performance 2009 2010 2011 2012 1Q13 PEOPLE Talent Management Strengthened team through key Continued Attract, retain, develop best talent hires; Continuous team Success development Geographic Segmentation Regional 5th Region Regional model Realignme
Slide 13: Regional Footprint: Pro-Forma View
Regional Footprint: Pro-Forma View Top 30 MSA Presence MSA Population Cleveland MSA 2.7 million Baltimore ((#20 MSA)) 2.4 million Pittsburgh (#22 MSA) PVFC Acquisition Cleveland 2.1 million Target (#28 MSA) Completion October 2013 Pittsburgh MSA ANNB Acquisition Completed April 6, 2013 Baltimore MSA
Slide 14: ANNB and PVFC Acquisitions = Opportunity
ANNB and PVFC Acquisitions = Opportunity Significant Commercial Prospects = Opportunity to Leverage Core Competency and Drive Sustained Organic Growth Over 175,000 Total Businesses(1) 65,169 59,240 52 149 52,149 12,851 13,345 13,410 9,251 9,988 10,863 1,972 2,064 2,210 Youngstown MSA Scranton MSA Ha
Slide 15: Summary
Summary Very Productive Quarter and Great Start to 2013 Solid 1Q13 Operating Results Continued Execution of Reposition and Reinvest Strategy Strong foundation for the future Completed infrastructure build-out of e-delivery strategy, now offer complete suite of electronic banking options Ag
Slide 16: Appendix
Appendix ENB Corporation 16
Slide 17: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Operating: Earnings, Earnings Return on Avg Tangible Equity, Equity Return on Avg Tangible Assets For the Quarter Ended March 31, 2013 December 31, 2012 March 31, 2012 Operating net income Net income $28,538 $28,955 $21,582 Add: Merger and severance costs, net of tax