F.N.B. Corporation Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2017
January 23, 2018 at 05:59 am EST
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F.N.B. Corporation reported unaudited earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported interest income of $271,085,000 as compared to $177,168,000 for the same period last year. Total revenue was $295,140,000 as compared to $210,349,000 for the same period last year. Income before income taxes was $111,912,000 as compared to $73,838,000 for the same period last year. Net income was $24,126,000 as compared to $51,291,000 for the same period last year. Net income available to common stockholders was $22,115,000 as compared to $49,280,000 for the same period last year. Basic and diluted earnings per common share was $0.07 as compared to $0.23 for the same period last year. Operating net income available to common stockholders (non-GAAP) was $76,846,000 as compared to $50,588,000 for the same period last year. Operating earnings per diluted common share (non-GAAP) was $0.24 as compared to $0.24 for the same period last year.
For the year, the company reported interest income of $980,326,000 as compared to $678,963,000 for the same period last year. Total revenue was $1,098,883,000 as compared to $813,273,000 for the same period last year. Income before income taxes was $356,269,000 as compared to $246,388,000 for the same period last year. Net income was $199,204,000 as compared to $170,891,000 for the same period last year. Net income available to common stockholders was $191,163,000 as compared to $162,850,000 for the same period last year. Diluted earnings per common share was $0.63 as compared to $0.78 for the same period last year. Operating net income available to common stockholders (non-GAAP) was $281,176,000 as compared to $187,739,000 for the same period last year. Operating earnings per diluted common share (non-GAAP) was $0.93 as compared to $0.90 for the same period last year.
F.N.B. Corporation is a bank holding company and financial holding company. The Company operates through three segments: Community Banking, Wealth Management, and Insurance. The Community Banking segment consists of First National Bank of Pennsylvania (FNBPA), which offers commercial and consumer banking services. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, business credit, capital markets and lease financing. The Wealth Management segment delivers wealth management services to individuals, corporations and retirement funds, as well as existing customers of the Community Banking segment, located primarily within its geographic markets. Its Wealth Management operations are conducted through three subsidiaries of FNBPA. The Insurance segment operates principally through First National Insurance Agency, LLC (FNIA), which is a subsidiary of the Company. FNIA is a full-service insurance brokerage agency.