NYSE$FNB
F.N.B. Corporation · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Reported earnings per share of $0.25 and operating EPS totaled $0.26, driven by revenue growth, strong capital markets activity and record mortgage banking levels.
F.N.B. Corporation reported a net income of $80.8 million, or $0.25 per diluted common share, for the third quarter of 2020. The operating earnings per diluted common share (non-GAAP) was $0.26. Revenue continued to increase and the company saw strong capital markets activity and record mortgage banking levels.
- Growth in total average loans was $3.3 billion, or 14.7%, with average commercial loan growth of $3.3 billion, or 22.9%, and average consumer loan growth of $57 million, or 0.7%.
- Total average deposits grew $4.3 billion, or 17.8%, primarily due to an increase in average non-interest-bearing deposits of $2.5 billion, or 39.7%, and an increase in average interest-bearing demand deposits of $2.6 billion, or 25.9%.
- Non-interest income was stable at $80.0 million, with an increase of $9.1 million, or 93.1%, in record levels of mortgage banking income offset by a decrease of $8.9 million, or 26.7%, in service charges, given significantly lower transaction volumes in the COVID-19 environment and service charge refunds of $3.8 million.
- The efficiency ratio (non-GAAP) equaled 55.3%, compared to 54.1%.
Headline financials
Revenue & EPS history
FNB · Revenue · Quarterly
$307M
Revenue by segment
FNB · $78.3M total across 9 segments · Q1 2022
- Service Charges$31.5M+13.2%40.2%
- Trust Services$10.3M+13.9%13.2%
- Insurance Commissions$7.61M+5.8%9.7%
- Capital Markets$7.13M-7.6%9.1%
- Mortgage Banking$6.67M-57.6%8.5%
- Securities Commissions$5.69M+1.3%7.3%
- Other Income$4.58M+4.5%5.8%
- Bank Owned Life Ins.$2.64M-10.4%3.4%
- Dividends on Equity Secs$2.15M-5.5%2.7%
Forward guidance
The document contains forward-looking information regarding outlook for earnings, revenues, expenses, tax rates, capital and liquidity levels and ratios, asset quality levels, financial position and other matters regarding or affecting current or future business and operations.
Tailwinds
- FNB continues to produce positive results built on employee protection and assistance
- Operational response and preparedness
- Continued customer and community support
- Stringent risk management
- Resilient business model, which is based upon the deployment of technology and expansion into attractive new markets
Headwinds
- Our business, financial results and balance sheet values are affected by business and economic circumstances
- Business and operating results are affected by our ability to identify and effectively manage risks inherent in our businesses
- Competition can have an impact on customer acquisition, growth and retention, and on credit spreads, deposit gathering and product pricing, which can affect market share, deposits and revenues.
- Business and operating results can also be affected by widespread natural and other disasters, pandemics, including the COVID-19 pandemic crisis
- Legal, regulatory and accounting developments could have an impact on our ability to operate and grow our businesses, financial condition, results of operations, competitive position, and reputation.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2020
-0.3%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+2.4%
Avg return
30 days after
43%
30 / 69 earnings
Positive
+7.7%
Q1 2019
Best reaction
-12.1%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.7% | -0.6% | -3.8% | |
| Q4 2025 | +3.0% | +0.6% | +6.1% | |
| Q3 2025 | +2.9% | +4.5% | +8.3% | |
| Q2 2025 | -1.6% | -0.4% | +2.7% | |
| Q1 2025 | +3.1% | +5.6% | +18.0% | |
| Q4 2024 | -2.3% | -1.8% | -7.2% | |
| Q3 2024 | -1.0% | -2.8% | +11.8% | |
| Q2 2024 | -6.5% | -3.6% | -8.1% | |
| Q1 2024 | -0.2% | +4.3% | +10.6% | |
| Q4 2023 | +2.8% | +3.8% | +4.1% | |
| Q3 2023 | -2.1% | -5.9% | +6.0% | |
| Q2 2023 | +1.2% | +1.3% | -5.2% | |
| Q1 2023 | +3.7% | +1.0% | -1.9% | |
| Q4 2022 | +4.9% | +6.3% | +9.2% | |
| Q3 2022 | +5.3% | +6.5% | +5.5% | |
| Q2 2022 | +1.0% | +2.9% | +10.6% | |
| Q1 2022 | +2.6% | -0.2% | -5.0% | |
| Q4 2021 | -4.3% | -5.2% | -1.4% | |
| Q3 2021 | +2.8% | +1.3% | +4.2% | |
| Q2 2021 | -0.5% | +0.0% | +0.8% | |
| Q1 2021 | -4.9% | -0.5% | +2.8% | |
| Q4 2020 | -2.3% | -4.2% | +2.4% | |
| Q3 2020 | +0.4% | +4.7% | +17.1% | |
| Q2 2020 | -0.9% | +1.2% | +5.7% | |
| Q1 2020 | +1.7% | +12.1% | -0.8% | |
| Q4 2019 | -1.9% | -5.2% | -6.7% | |
| Q3 2019 | -0.2% | +0.9% | +4.2% | |
| Q2 2019 | +3.3% | +3.3% | -7.2% | |
| Q1 2019 | +7.7% | +8.1% | +2.5% | |
| Q4 2018 | +1.1% | +1.0% | +8.0% | |
| Q3 2018 | -1.3% | +0.2% | +7.6% | |
| Q2 2018 | -8.3% | -6.2% | -1.3% | |
| Q1 2018 | -0.9% | +0.0% | +2.1% | |
| Q4 2017 | -0.2% | -0.9% | -1.7% | |
| Q3 2017 | -2.6% | -1.9% | -5.0% | |
| Q2 2017 | -6.1% | -1.9% | -9.7% | |
| Q1 2017 | +2.1% | -2.0% | -6.2% | |
| Q4 2016 | -0.5% | -0.8% | +2.4% | |
| Q3 2016 | +4.8% | +6.7% | +21.5% | |
| Q2 2016 | -8.1% | -9.4% | -6.7% | |
| Q1 2016 | -0.2% | — | — | |
| Q4 2015 | -0.3% | — | — | |
| Q3 2015 | +5.7% | — | — | |
| Q2 2015 | -3.6% | — | — | |
| Q1 2015 | -0.7% | — | — | |
| Q4 2014 | +3.7% | — | — | |
| Q3 2014 | -3.3% | — | — | |
| Q2 2014 | +2.1% | — | — | |
| Q1 2014 | -1.5% | — | — | |
| Q4 2013 | +2.1% | — | — | |
| Q3 2013 | +2.9% | — | — | |
| Q2 2013 | +1.4% | — | — | |
| Q1 2013 | +0.9% | — | — | |
| Q4 2012 | +0.6% | — | — | |
| Q3 2012 | +1.2% | — | — | |
| Q2 2012 | -2.3% | — | — | |
| Q1 2012 | +2.0% | — | — | |
| Q4 2011 | -2.8% | — | — | |
| Q4 2009 | -2.8% | — | — | |
| Q4 2010 | -2.8% | — | — | |
| Q3 2011 | -3.8% | — | — | |
| Q2 2011 | -12.1% | — | — | |
| Q1 2010 | +3.9% | — | — | |
| Q1 2011 | +0.3% | — | — | |
| Q4 2008 | -0.2% | — | — | |
| Q3 2009 | -0.5% | — | — | |
| Q3 2010 | -0.5% | — | — | |
| Q2 2009 | -3.7% | — | — | |
| Q2 2010 | -3.7% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro