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Vincent Delie, CEO of F.N.B., discusses the costs of and difficulty in complying with size-related regulations, his outlook for acquisitions and the Baltimore market.
May 5 -
Huntington Bancshares in Columbus, Ohio, reported higher quarterly in profit that reflected higher in mortgage banking fees and steady loan growth.
July 23 -
The Cleveland company, which this spring said it had decided to start originating its own mortgage loans again, shared more details on the start date of this new effort and the rationale behind it.
July 16
F.N.B. in Pittsburgh reported higher second-quarter profit as it booked more commercial real estate and business loans.
Net income at the $16.6 billion-asset company rose 16% to $38.1 million, or 22 cents per share, from a year earlier.
Net interest income at the holding company for First National Bank of Pennsylvania rose 8.4% to $125.6 million. Net loans and leases rose 12.5% to $11.5 billion. Average earning assets rose 14% to $14.7 billion. The net interest margin fell to 3.43% from 3.6%.
Commercial real estate loans rose nearly 8% to $3.9 billion. Commercial and industrial loans rose 17% to $2.5 billion.
Fee income rose 1.4% to $39.8 million. Trust income rose 12% to $5.4 million. Mortgage banking revenue more-than-doubled to $2.5 million.
Noninterest expense rose 4.2% to $96.5 million. Lower costs for amortization of intangibles and federal deposit insurance were offset by higher costs for salaries and employee benefits, occupancy and foreclosed-property expenses. F.N.B.'s efficiency ratio improved by 128 basis points to 55.99%.