F.N.B. Corporation posts $152.9 million net income for Q3 2026

Pittsburgh, Oct. 19. F.N.B. Corporation reported third-quarter 2026 net income of $152.9 million, or $0.43 per diluted common share. The figure exceeds the prior-year third-quarter result of $149.5 million and the immediate prior quarter’s $148.7 million. The company noted no significant items impacted earnings in the third and second quarters of 2026, whereas the third quarter of 2025 included a favorable item related to an FDIC special assessment reduction.

Chairman, President and Chief Executive Officer Vince Delie stated that year-to-date earnings reached $1.23 per diluted common share, representing a 13% increase over the same period in 2025. Delie attributed the performance to record net interest income, expanded net interest margin, and a 7% year-over-year increase in tangible book value per common share. The company continued returning capital through share repurchases and dividends while leveraging technology investments to gain market share across its geographic footprint.

Average loans and leases totaled $36.1 billion, up $1.3 billion or 3.7% from the prior year period. Growth was driven by a $1.2 billion increase in average consumer loans and a $115.4 million rise in average commercial loans and leases. On a linked-quarter basis, period-end total loans increased by $768.0 million, an annualized growth rate of 8.5%. Average deposits reached $38.8 billion, a year-over-year increase of $914.1 million or 2.4%. This growth reflected increases in interest-bearing demand, money market, non-interest-bearing demand, and savings deposits, which offset a decline in time deposits.

Period-end total deposits grew by $870.6 million on a linked-quarter basis, or 8.9% annualized. The loan-to-deposit ratio stood at 92.4% as of September 30, 2026, slightly lower than the 92.5% recorded at the end of the second quarter and higher than the 90.9% level seen a year earlier. Net interest income reached $376.5 million, marking a $10.8 million gain, or 3.0%, compared to the previous quarter. This increase stemmed primarily from growth in earning assets and higher yields on earning assets, which outweighed a slight rise in funding costs and the impact of one additional day in the current quarter.

The net interest margin on a fully taxable equivalent basis equaled 3.29%, up 4 basis points from the second quarter of 2026 level due to stable interest-bearing deposit costs and higher asset yields. The Federal Open Market Committee had increased the target federal funds rate by 25 basis points in September 2026. Pre-provision net revenue totaled $212.2 million, a 1.3% increase from the prior quarter driven by record net interest income.

Credit quality metrics showed the provision for credit losses at $19.6 million, down $1.7 million from the previous quarter. Net charge-offs came in at $11 million, equaling an annualized rate of 0.12% on total average loans, versus $17 million or an annualized rate of 0.19% in the prior quarter. The ratio of non-performing loans and other real estate owned to total loans and leases and other real estate owned rose 2 basis points to 0.33%, while total delinquency climbed 4 basis points to 0.75%. The allowance for credit losses to total loans and leases ratio held steady at 1.25%.

Capital measures indicated a Common Equity Tier 1 regulatory capital ratio ending the quarter at an estimated 11.3%, compared to 11.4% at June 30, 2026, and 11.1% at September 30, 2025. The tangible common equity to tangible assets ratio equaled 8.7%, down from 8.9% at June 30, 2026, but stable compared to September 30, 2025. Tangible book value per common share was $12.28, an increase of $0.80 or 7.0% from September 30, 2025.

Accumulated other comprehensive income reduced tangible book value per common share by $0.53 as of September 30, 2026, primarily due to higher interest rates affecting the fair value of available-for-sale securities. This compares to reductions of $0.29 as of June 30, 2026, and $0.22 as of September 30, 2025.

During the third quarter of 2026, F.N.B. Corporation repurchased $51 million, or 2.7 million shares, of common stock at a weighted average price of $18.69 per share. Year-to-date repurchases totaled $133 million, or 7.4 million shares, at a weighted average price of $17.90 per share, representing 2.1% of shares outstanding at the beginning of the year.