FNB Q1 2022 Earnings Report
Key Takeaways
F.N.B. Corporation reported a net income available to common stockholders of $51.0 million, or $0.15 per diluted common share, for the first quarter of 2022. The company's operating earnings per share (non-GAAP) was $0.26, excluding merger-related and branch consolidation costs. Revenue grew by 3.4%, driven by net interest income and loan growth. A new $150 million share repurchase program was approved by the Board of Directors.
Completed the acquisition of Howard Bancorp, Inc. on January 22, 2022, adding $1.8 billion in loans and deposits.
Total loans and leases, excluding PPP loans, increased by $3.6 billion, or 15.7%, compared to Q1 2021.
Net interest income increased by $11.2 million, or 5.0%, to $234.1 million.
Board of Directors approved a new $150 million share repurchase program.
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FNB Revenue by Segment
Forward Guidance
F.N.B. Corporation did not provide specific forward guidance in this earnings report. The report focused on the successful completion of the Howard Bancorp acquisition and the announcement of a new share repurchase program.