F.N.B. Corp. in Hermitage, Pa., said Friday it made progress on reducing its troubled Florida loans.
F.N.B.'s second-quarter net income available to common shareholders shrunk by 37% from a year earlier, to $9.1 million. The $8.7 billion-asset company said its Florida exposure declined by $21.6 million, or 7%, since March 31. Half of the reduction came from cash payments and half from chargeoffs.