F.n.b. Corporation · NYSE:FNB
F.n.b — Q2 2013 Earnings Presentation
17 slides from F.n.b's earnings presentation, Jul 24, 2013
Slide 1: F.N.B. Corporation Second Quarter 2013 Earnings Presentation
F.N.B. Corporation Second Quarter 2013 Earnings Presentation July 24, 2013
Slide 2: Cautionary Statement Regarding Forward-Looking Information and Non-GAAP Financial Information
Cautionary Statement Regarding Forward-Looking Information and Non-GAAP Financial Information This presentation and the reports F.N.B. Corporation files with the Securities and Exchange Commission often contain “forward-looking statements” relating to present or future trends or factors affecting th
Slide 3: Important Information About the Pending Mergers
Important Information About the Pending Mergers Merger of F.N.B. and PVF Capital. In connection with the pending merger between F.N.B. and PVF Capital Corp., a definitive proxy statement of PVF Capital and prospectus of F.N.B. will be filed with the SEC. SHAREHOLDERS OF PVF CAPITAL CORP. ARE URGED T
Slide 4: 2Q13 Operating Results
2Q13 Operating Results 2Q13 Operating Highlights Strong Operating Results Consistent high-quality earnings Operating net income(1) $30.1 million High-quality earnings with provision for loan losses exceeding net charge-off levels Operating diluted EPS(1) $0.21 Year-to-date operating leverage a
Slide 5: 2Q13 Operating Highlights – Quarterly Trends
2Q13 Operating Highlights – Quarterly Trends Prior Current Prior Year Quarterly Trends 2Q13 1Q13 2Q12 Prior-year quarter benefited from higher accretable yield of $1.7 million (net of tax) or $0.01 per diluted Operating Net income $30,094 $28,767 $29,336 share Earnings(1) Accretable yield benefi
Slide 6: M&A Strategic Update – Progressing as Planned
M&A Strategic Update – Progressing as Planned Significant Progress Replicating Proven Success in Pittsburgh MSA to Expansion Markets of Baltimore MSA (ANNB And BCSB Acquisitions) and Cleveland MSA (PVFC Acquisition) Pittsburgh Baltimore Cleveland Strategies MSA MSA MSA Markets with considerable Comm
Slide 7: Balance Sheet Highlights
Balance Sheet Highlights Reported Organic 2Q13 Growth(1) Growth(2) Average Balances, $ in Millions Balance $ $ % 2Q13 Highlights Continued strong organic growth in Securities $2,296 $41.8 - - loans and transaction deposits and customer repurchase agreements Total loans $8,530 $373.5 $114.6 5.6%
Slide 8: Asset Quality Results
Asset Quality Results(1) $ in Thousands 2Q13 1Q13 2Q12 2Q13 Highlights Solid performance with demonstrated stability compared to the prior quarter and improvement NPL’s+OREO/Total loans+OREO 1.59% 1.59% 1.93% compared to the prior year 2Q13 provision for loan losses of $7.9 million Total delinqu
Slide 9: Asset Quality Trends
Asset Quality Trends Asset Quality Trends Compare Favorably to Peer Results NPL’s+OREO/ NCO’s on Originated Loans/ Total Originated Loans+OREO(1)(2) Total Originated Loans(1)(3) Peer data per SNL Financial, refer to Appendix for peer listing;(1) Metrics shown are originated portfolio. “Originated po
Slide 10: Non-Interest Income
Non-Interest Income $ in Thousands 2Q13 1Q13 2Q12 2Q13 Highlights Increase (linked-quarter) in non-interest income Service charges $18,660 $16,531 $17,588 reflects increased service charges, consistent results from fee-based lines of businesses and the benefit of the ANNB acquisition Insurance com
Slide 11: Non-Interest Expense
Non-Interest Expense $ in thousands 2Q13 1Q13 2Q12 2Q13 Highlights Overall non-interest expense results reflect Salaries and employee benefits $43,201 $43,905 $41,070 continued efficiency focus and the addition of ANNB operating expenses 2Q13 Occupancy and equipment 12,945 12,190 11,862 Salaries
Slide 12: Net Interest Margin Trends
Net Interest Margin Trends Net Interest Margin Trends 12
Slide 13: Capital Position
Capital Position Capital Position as of June 30, 2013(1) 2Q13 Capital Level Drivers Capital levels at June 30, 2013 reflect initial impact of Annapolis Bancorp, Inc. acquisition. Regulatory capital levels impacted by partial redemption of trust preferred securities ($15.0 million repurchased at
Slide 14: Summary
Summary Consistent Strategy Delivers Sustainable Results Strong 2Q13 Operating Results High-quality earnings Year-over-year operating leverage Significant Progress Establishing FNB in Expansion Markets of Maryland and Cleveland Consistent, proven strategy deployed FNB expansion in Maryla
Slide 15: Appendix
Appendix ENB Corporation 15
Slide 16: Regional Peer Group Listing
Regional Peer Group Listing Ticker Institution Ticker Institution ASBC Associated Bancorp ONB Old National Bancorp AF Astoria Financial Corporation PVTB Private Bancorp, Inc. CBSH Commerce Bancshares, Inc. SUSQ Susquehanna Bancshares, Inc. FMER First Merit Corp. UMBF UMB Financial Corp. FULT Fulton
Slide 17: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Operating: Earnings, Return on Avg Tangible Equity, Return on Avg Tangible Assets For the Quarter Ended June 30, 2013 March 31, 2013 June 30, 2012 Operating net income Net income $29,192 $28,538 $29,130 Add: Merger and severance costs, net of tax 1,915 229 206 Less: G