FNB Q3 net interest income rises on growth in earning assets and lower deposit costs
FNB•FNB’s third-quarter net interest income rose 4.8% year over year to $376.5 million, as average earning assets grew and interest-bearing deposit costs fell. EPS of $0.43 met analyst expectations, and the company repurchased $51 million in shares.
1. Quarterly results
FNB reported third-quarter net income of $152.9 million and adjusted operating earnings per share of $0.43, matching the analyst consensus. Its CET1 capital ratio was 11.3%, and its credit loss provision was $19.6 million.
2. Growth and outlook
Higher consumer and commercial loan balances, particularly in equipment finance and select markets, contributed to results. Increases in interest-bearing demand, money market and non-interest-bearing deposits supported funding and growth. FNB expects technology investments to support its long-term organic growth trajectory, aims to diversify revenue through fee-based businesses, and expects loan and deposit growth to align with that trajectory.
