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Dec 31, 2023
FNB Q4 2023 Earnings Report
Reported earnings for the fourth quarter of 2023 and executed balance sheet optimization strategy.
Key Takeaways
F.N.B. Corporation reported Q4 2023 earnings with a net income available to common stockholders of $48.7 million, or $0.13 per diluted common share. On an operating basis, Q4 2023 earnings per diluted common share (non-GAAP) was $0.38, excluding $114.0 million (pre-tax) of significant items impacting earnings. The company completed the sale of approximately $650 million of available-for-sale investment securities and transferred $355 million of indirect auto loans to held-for-sale as part of its balance sheet management strategy.
Total loans and leases increased by $2.1 billion, or 6.8%.
Net interest income totaled $324.0 million, a slight decrease of $2.6 million, or 0.8%, from the prior quarter.
The ratio of non-performing loans and other real estate owned (OREO) to total loans and OREO decreased 5 basis points to 0.34%.
Tangible book value per common share (non-GAAP) of $9.47 increased $1.20, or 14.5%, compared to December 31, 2022, and $0.45, or 5.0%, compared to September 30, 2023.
Revenue by Segment
Forward Guidance
The balance sheet actions are expected to generate additional net interest income and margin, modestly increase the tangible common equity to tangible asset ratio and improve capital generation as we enter 2024.
Positive Outlook
- Enhance future profitability
- Improve capital positioning
- Generate additional net interest income
- Increase tangible common equity to tangible asset ratio
- Improve capital generation
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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