FNB Q2 EPS rises 17% on record revenue, buys back $47 million in stock
FNB•Key financial details
| Metric | Actual |
|---|---|
| Q2 EPS | $0.42 |
| Q2 net income | $148.7 million |
| Q2 net interest income | $365.72 million |
| Q2 CET1 capital ratio | 11.4% |
| Q2 credit loss provision | $21.36 million |
Drivers of the quarter
- Loan and deposit growth - Higher average loans and leases, especially in consumer loans, and growth in average deposits supported revenue gains.
- Net interest income - Higher average earning assets and lower interest-bearing deposit costs drove a 5.3% year-over-year increase in net interest income.
- Non-interest income - Wealth management, capital markets and other fee-based businesses contributed to a 6.5% year-over-year rise in non-interest income.
Analyst coverage and outlook
FNB did not provide specific financial guidance for the current or future periods.
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