FNB - F.N.B. Corporation (FNB) Q2 2024 Earnings Call Transcript
2024-07-18 12:40:33 ET
F.N.B. Corporation (FNB)
Q2 2024 Results Conference Call
July 18, 2024 08:30 AM ET
Company Participants
Lisa Hajdu - Manager, IR
Vince Delie - Chairman, President and CEO
Gary Guerrieri - Chief Credit Officer
Vince Calabrese - CFO
Jim Dutey - Senior Vice President & Corporate Controller
Conference Call Participants
Daniel Tamayo - Raymond James
Frank Schiraldi - Piper Sandler
Casey Haire - Jefferies
Russell Gunther - Stephens
Manuel Navas - D.A. Davidson
Kelly Motta - KBW
Brian Martin - Janney
Presentation
Operator
Good morning, and welcome to the F.N.B. Corporation Second Quarter 2024 Earnings Call. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.
I would now like to turn the conference over to Lisa Hajdu, Manager of Investor Relations. Please go ahead.
Lisa Hajdu
Welcome to our earnings call. This conference call of FNB Corporation and the reports that filed with the Securities and Exchange Commission also contain forward-looking statements and non-GAAP financial measures. Non-GAAP financial measures should be viewed in addition to and not as an alternative for our reported results prepared in accordance with GAAP. Reconciliations of GAAP to non-GAAP operating measures to the most directly comparable financial measures are included in our presentation materials and in our earnings release.
Please refer to these non-GAAP and forward-looking statement disclosures contained in our related materials, reports and registration statements filed with the Securities and Exchange Commission and available on our corporate website.
A replay of this call will be available until Thursday, July 25, and the webcast link will be posted to the About Us, Investor Relations section of our corporate website.
I will now turn the call over to Vince Delie, Chairman, President and CEO.
Vince Delie
Thank you, and welcome to our second quarter earnings call. Joining me today are Vince Calabrese, our Chief Financial Officer; and Gary Guerrieri, our Chief Credit Officer.
FNB reported solid second quarter results with net income available to common shareholders of $123 million or $0.34 per diluted common share. Pre-provision net revenue increased over 4% linked-quarter supported by our well managed expenses and continued strong non-interest income levels. Tangible book value per share grew 12% year-over-year to reach a record high at $9.88.
The second quarter's performance was driven by our long-term strategic goals to gain market share through loan and deposit growth, diversify revenue streams and manage risk. As we have previously mentioned, FNB is well-positioned to steadily increase market share in this volatile environment given the strength of our capital and liquidity position and adherence to our consistent and conservative underwriting guidance....
F.N.B. Corporation (FNB) Q2 2024 Earnings Call Transcript