PITTSBURGH - F.N.B. Corporation (NYSE: NYSE: FNB ) reported fourth quarter earnings that beat expectations, but shares fell after revenue came in below analyst estimates.
The regional bank posted adjusted earnings per share of $0.38, exceeding the consensus forecast of $0.33. However, revenue of $373.14 million missed Wall Street's projection of $408.7 million.
F.N.B.'s net interest income totaled $322.2 million in Q4, down slightly from $324 million in the year-ago quarter. The net interest margin declined to 3.04% from 3.21% a year earlier, reflecting higher deposit costs.
Total (EPA: TTEF ) loans grew 5% year-over-year to $33.9 billion, while deposits increased 6.9% to $37.1 billion. The loan-to-deposit ratio improved to 91% from 93% at the end of 2023.
"FNB further strengthened its liquidity and capital position, improving the loan-to-deposit ratio over 500 basis points from the peak in 2024 through strong deposit originations and achieving higher capital ratios with a record CET1 ratio of 10.6%," said Chairman, President and CEO Vincent J. Delie, Jr.
F.N.B. maintained its quarterly dividend of $0.12 per share.
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