F.N.B. (FNB) Q1 2026 earnings summary

Executive summary

• Net income for Q1 2026 was $137 million ($0.38 per diluted share), up as much as 18.8% year-over-year, with EPS up 19% and no significant non-recurring items impacting results.

• Pre-provision net revenue rose 17% year-over-year, reflecting positive operating leverage and growth in both net interest and non-interest income.

• Tangible book value per share increased 11.4% year-over-year to $12.06, a record high.

• Capital ratios remained strong, with CET1 at 11.4% and return on average tangible common equity at 13.2%.

• Quarterly dividend increased 8% to $0.13 per share, and a new share repurchase program was authorized, bringing total capacity to $300 million.

Financial highlights

• Net interest income was $359.3 million, up 10.9% year-over-year; net interest margin (FTE) was 3.25%, up 22 bps year-over-year but down 3 bps sequentially.

• Non-interest income rose 3.7% year-over-year to $91 million, with capital markets income up 27.8%.

• Non-interest expense increased 4.5% year-over-year to $257.9 million, driven by technology investments and higher fraud/litigation costs.

• Efficiency ratio improved to 56.1% from 58.5% a year ago.

• Loan and lease balances ended at $35.1 billion, up 3.9% annualized linked quarter; spot total deposits were $38.9 billion, with non-interest-bearing deposits stable at 26%.

Outlook and guidance

• Full-year 2026 guidance targets mid-single digit growth in loans and deposits, with net interest income expected at $1.495–$1.535 billion and non-interest income at $370–$390 million.

• Non-interest expense projected at $1.00–$1.02 billion, now expected at the higher end due to strategic investments.

• Provision expense guidance: $85–$105 million for the year; effective tax rate 21–22%.

• Management expects continued strong capital and liquidity positions, with robust stress test results.

• Continued investments in digital, advisory, and capital markets businesses are expected to support future growth.