FNB (FNB) Q4 2024 Earnings Call Transcript

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Mon, January 19, 2026 astatine 8:41 AM CST 54 min read

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Jan. 22, 2025 astatine 8:30 a.m. ET

• Chairman, President, and Chief Executive Officer — Vincent J. Delie, Jr.

• Chief Financial Officer — Vincent J. Calabrese, Jr.

• Chief Credit Officer — Gary L. Guerrieri

Vince Delie: Thank you and invited to our 3rd 4th net call. Joining maine contiguous are Vince Calabrese, our Chief Financial Officer; and Gary Guerrieri, our Chief Credit Officer. FNB reported 4th fourth operating nett income disposable to communal shareholders of $136.7 million, oregon $0.38 per diluted communal share. This brings our afloat year, 2024, operating EPS to $1.39 reflecting the palmy execution of our strategical objectives. In 2024, FNB generated year-over-year indebtedness maturation of 5% and robust deposit maturation of 6.9%. These results occurred passim our divers geographic footprint, materially outpacing the manufacture arsenic we proceed the leverage the spot of our technology, equilibrium expanse and superior basal arsenic good arsenic our squad of frontline bankers.

Non-interest income continues to grow, achieving yet different grounds level of $350 cardinal highlighting our diversified concern exemplary and robust suite of products and services. We further strengthened our equilibrium expanse and achieved a grounds CET1 ratio of 10.6% and accrued tangible publication worth per stock 11% to a grounds of $10.49. FNB remains focused connected optimizing our equilibrium expanse to thrust shareholder worth and champion presumption the institution for aboriginal success. As portion of that commitment, we precocious completed the merchantability of astir $231 cardinal of available-for-sale securities yielding 1.41% and reinvested the proceeds into securities yielding 4.78%, a 337-basis constituent betterment with a akin duration and convexity profile.

FNB besides issued $500 cardinal of elder indebtedness successful December and received favorable execution comparative to akin issuances by peers signifying the assurance that fixed income markets person successful FNB sustained profitability, recognition prime and wide equilibrium expanse strength. FNB has demonstrated tremendous occurrence gathering a invaluable deposit franchise with superior marketplace stock passim our footprint and robust carnal and integer tools. We present clasp the apical 5 deposit stock successful 50% of our markets and apical 10 deposit stock successful implicit 80%. Deposits ended the twelvemonth astatine $37.1 cardinal an summation of $2.4 cardinal from the anterior year. We proceed our absorption connected increasing deposits portion managing the wide outgo of funds.

In the Q4, deposits accrued $336 cardinal linked 4th with full deposit costs astatine 2.2% which is expected to meaningfully outperform peers. We proceed to physique retired our exertion to assistance consumers. FNB precocious invested successful a FinTech which provides exertion that volition beryllium embedded into the eStore to alteration our customers to instantaneously determination their nonstop deposit and reoccurring transactions to FNB. We expect an improved onboarding process with less obstacles to thrust greater occurrence astatine becoming our customers' superior bank. FNB's beardown indebtedness and deposit maturation successful 2024 outpaced the manufacture based connected the H8 data, much than doubling the ample banks and much than tripling tiny banks afloat twelvemonth growth.