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Jun 30, 2020
FNB Q2 2020 Earnings Report
Reported earnings per share of $0.25 and revenue increased to $306 million.
Key Takeaways
F.N.B. Corporation reported a strong second quarter with earnings per share of $0.25, a 79% increase from the prior quarter. Revenue increased to $306 million, driven by growth in total average loans and deposits. The company also funded $2.6 billion in PPP loans and continued to serve its customers and communities during the pandemic.
Earnings per share increased 79% from the prior quarter to $0.25.
Revenue increased 6% annualized to $306 million.
Total assets grew nearly $3 billion to end June at $38 billion.
Capital markets and mortgage banking set new records with revenues of $13 million and $17 million, respectively.
Forward Guidance
While the report does not include specific forward guidance, it highlights the company's confidence in its team's ability to navigate the challenging economic environment and deliver results for customers, communities, and shareholders.
Positive Outlook
- Strong growth in total average loans and deposits.
- Record revenues in capital markets and mortgage banking.
- Well-controlled operating expenses and improved efficiency ratio.
- Solid organic growth in customer relationships.
- Favorable delinquency levels.
Challenges Ahead
- Lower interest rates impacting net interest income.
- Increased provision for credit losses due to COVID-19.
- Service charges decreased due to lower transaction volumes.
- PPP loan activity impacted the TCE ratio.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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