F.N.B. Corporation (FNB) Earnings & Analysis

Latest quarter

For the later quarter covered by the consensus, F.N.B. reported adjusted earnings per share of $0.43, matching the consensus estimate of $0.43. Revenue of $469.1 million missed the consensus estimate of $475.9 million.

For Q2 FY2026, F.N.B.’s filing reported revenue of $462.7 million, up 5.6% from a year earlier, driven by growth in both net interest and non-interest income. Net income rose to $148.7 million from $130.7 million, while diluted earnings per share increased to $0.42 from $0.36.

The filing said net interest income rose 5.3% to $365.7 million as earning assets grew and funding costs fell, partly offset by lower yields on earning assets. Non-interest income increased 6.5%, with contributions from wealth management and capital markets among the drivers.

F.N.B. reported a net interest margin on a fully taxable equivalent basis of 3.25%, up 6 basis points from a year earlier. Its provision for credit losses fell to $21.4 million from $25.6 million, while non-interest expense rose 2.9%, primarily because of higher employee, occupancy, equipment and outside-services costs.

Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.

What management said on the call

The available earnings-call commentary is from F.N.B.’s Q1 2026 call, before the Q2 results. Chief Credit Officer Gary Guerrieri said loan activity built during the quarter and pipelines had increased across the company. He pointed to opportunities with larger corporate borrowers and merger-related activity, and said he expected activity to build through the year.

Asked about funding loan growth, Chief Financial Officer Vincent Calabrese said the bank was balancing deposit gathering against efforts to lower deposit costs. He said there was still room to reduce those costs, including through non-interest-bearing deposits. CEO Vincent Delie said treasury management relationships moving to F.N.B. could add balances, but noted that competitors’ deposit pricing was uncertain as banks sought commercial loans.

On margins, Calabrese said seasonal deposit outflows had temporarily required higher-cost short-term borrowing in Q1. He said the bank’s guidance implied a gradual rise in net interest margin through the year, supported by earning-asset growth and repricing across parts of the securities, deposit and loan portfolios.

Analysts also pressed executives on investment spending. Calabrese said F.N.B. was investing in new branches, its eStore, treasury management and wealth management, as well as tools to give employees a fuller view of customer relationships. Delie said the company was shifting development resources toward areas it considered most relevant to revenue and efficiency. He said some increased spending, including contractor expense, was transitory rather than embedded in the ongoing expense base.

On fee income, Delie pointed to investment banking and public finance transactions in the works for the second half of the year, alongside opportunities in mortgage, wealth and treasury management. Guerrieri said lending spreads could become more competitive and that F.N.B. would monitor them.

Guidance

On the Q1 call, Calabrese said F.N.B. expected FY2026 non-interest expense at the higher end of its unchanged $1 billion to $1.02 billion range, reflecting increased investment in franchise growth and strategic initiatives. He said the bank’s full-year net interest income range was unchanged, but its assumptions no longer included a Federal Reserve rate cut in 2026.