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Earnings Presentation Fourth Quarter 2025 January 21, 2026 F.N.B.Corporation
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This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those that do not relate to historical facts and that are based on current assumptions, beliefs, estimates, expectations and projections, many of which, by their nature, are inherently uncertain and beyond our control. Forward-looking statements may relate to various matters, including our financial condition, results of operations, plans, objectives, future performance, business or industry, and usually can be identified by the use of forward-looking words, such as “anticipates,” “assumes,” “believes,” “can,” “continues,” “could,” “enable,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “likely,” “may,” “might,” “objective,” “plans,” “positioned,” “potential,” “projects,” “remains,” “should,” “target,” “trend,” “will,” “would,” or similar words or expressions or variations thereof, and the negative thereof, but these terms are not the exclusive means of identifying such statements. You should not place undue reliance on forward-looking statements, as they are subject to risks and uncertainties, including, but not limited to, those described below. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements we may make. There are various important factors that could cause future results to differ materially from historical performance and any forward-looking statements. Factors that might cause such differences, include, but are not limited to: • the credit risk associated with the substantial amount of commercial loans and leases in our loan portfolio; • the volatility of the mortgage banking business; • changes in market interest rates, U.S. federal government shutdowns and the unpredictability of monetary, tax and other policies of government agencies, including tariffs or the imposition of new tariffs, trade wars, barriers or restrictions, or threats of such actions; • the impact of changes in interest rates on the value of our investment securities portfolios; • changes in our ability to obtain liquidity as and when needed to fund our obligations as they come due, including as a result of adverse changes to our credit ratings; • the risk associated with uninsured deposit account balances; • regulatory limits on our ability to receive dividends from our subsidiaries and pay dividends to our shareholders; • our ability to recruit and retain qualified banking professionals; • the financial soundness of other financial institutions and the impact of volatility in the banking sector on us; • changes and instability in economic conditions and financial markets, in the regions in which we operate or otherwise, including a contraction of economic activity, economic downturn or uncertainty and international conflict; • our ability to continue to invest in technological improvements as they become appropriate or necessary; • any interruption in or breach in security of our information systems, or other cybersecurity risks; • risks associated with reliance on third-party vendors and artificial intelligence; • risks associated with the use of models, estimations and assumptions in our business; • the effects of adverse weather events and public health emergencies; • the risks associated with acquiring other banks and financial services businesses, including integration into our existing operations; • the extensive federal and state regulations, supervision and examination governing almost every aspect of our operations, and potential expenses associated with complying with such regulations; • our ability to comply with the consent orders entered into by First National Bank of Pennsylvania with the Department of Justice and the North Carolina State Department of Justice, and related costs and potential reputational harm; • changes in federal, state or local tax rules and regulations or interpretations, or accounting policies, standards and interpretations; • the effects of climate change and related legislative and regulatory initiatives; and • any reputation, credit, interest rate, market, operational, litigation, legal, liquidity, regulatory and compliance risk resulting from developments related to any of the risks discussed above. FNB cautions that the risks identified here are not exhaustive of the types of risks that may adversely impact FNB and actual results may differ materially from those expressed or implied as a result of these risks and uncertainties, including, but not limited to, the risk factors and other uncertainties described under Item 1A. Risk Factors and the Risk Management sections of our 2024 Annual Report on Form 10-K (including the MD&A section), our subsequent 2025 Quarterly Reports on Form 10-Q (including the risk factors and risk management discussions) and our other filings with the Securities and Exchange Commission (SEC), which are available on our corporate website at https://www.fnb-online.com/about-us/investor-information/reports-and-filings or the SEC’s website at www.sec.gov. We have included our web address as an inactive textual reference only. Information on our website is not part of our SEC filings. You should treat forward-looking statements as speaking only as of the date they are made and based only on information then actually known to FNB. FNB does not undertake, and specifically disclaims any obligation to update or revise any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements except as required by law. Cautionary Statement Regarding Forward-Looking Information 2
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To supplement our Consolidated Financial Statements presented in accordance with GAAP , we use certain non-GAAP financial measures, such as operating net income available to common shareholders, operating earnings per diluted common share, return on average tangible equity, return on average tangible common equity, return on average tangible assets, tangible book value per common share, the ratio of tangible common equity to tangible assets, operating non-interest income, operating non-interest expense, pre-provision net revenue (reported), operating pre-provision net revenue, efficiency ratio, allowance for credit losses on loans and leases plus accretable discount of acquired loans to total loans and leases and net interest margin (FTE) to provide information useful to investors in understanding our operating performance and trends, and to facilitate comparisons with the performance of our peers. Management uses these measures internally to assess and better understand our underlying business performance and trends related to core business activities. The non-GAAP financial measures and key performance indicators we use may differ from the non-GAAP financial measures and key performance indicators other financial institutions use to assess their performance and trends. These non-GAAP financial measures should be viewed as supplemental in nature, and not as a substitute for, or superior to, our reported results prepared in accordance with GAAP . Reconciliations of non-GAAP operating measures to the most directly comparable GAAP financial measures are included later in this release under the heading “Reconciliations of Non-GAAP Financial Measures and Key Performance Indicators to GAAP .” Management believes certain items (e.g., FDIC special assessment) are not organic to running our operations and facilities. These items are considered significant items impacting earnings as they are deemed to be outside of ordinary banking activities. These costs are specific to each individual transaction and may vary significantly based on the size and complexity of the transaction. To facilitate peer comparisons of net interest margin and efficiency ratio, we use net interest income on a taxable-equivalent basis in calculating net interest margin by increasing the interest income earned on tax-exempt assets (loans and investments) to make it fully equivalent to interest income earned on taxable investments (this adjustment is not permitted under GAAP). Taxable-equivalent amounts for 2025 and 2024 were calculated using a federal statutory income tax rate of 21%. Use of Non-GAAP Financial Measures and Key Performance Indicators 3
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Fourth Quarter 2025 Highlights ❖ Earnings per diluted common share of $0.47 and operating earnings per diluted common share(1) (non-GAAP) of $0.50. o Full-year 2025 earnings per diluted common share of $1.56 and operating earnings per diluted common share(1) (non- GAAP) of $1.59. ❖ Recognized investment tax credits of $37.2 million as a benefit to income taxes in the fourth quarter of 2025 from a renewable energy project financing transaction which is a core element of our Equipment Finance business strategy. A related non-credit valuation impairment of $4.4 million (pre-tax) was recognized on the financing receivable in other non-interest expense. ❖ Contributed a discretionary $20.0 million to the FNB Foundation, demonstrating a continued commitment and strong support of the communities we serve. ❖ Average total loans and leases increased $168.9 million, or 1.9% annualized from the prior quarter, and $1.2 billion, or 3.4% from the year-ago quarter. o Transferred approximately $200 million of performing residential mortgage loans to held-for-sale in December 2025 in anticipation of a loan sale expected to close in the first quarter of 2026 as part of balance sheet management actions. ❖ Average total deposits increased $0.7 billion, or 7.7% annualized from the prior quarter, and $1.7 billion, or 4.5% from the year-ago quarter. o The mix of non-interest-bearing demand deposits to total deposits was stable at 26%. ❖ Loan-to-deposit ratio was 89.7% at December 31, 2025, a slight improvement compared to 90.9% at September 30, 2025, and 91.5% at December 31, 2024. ❖ Asset quality metrics remain at solid levels, reflecting continued proactive management of the loan portfolio. The provision for credit losses was $18.9 million, a decrease of $5.1 million from the prior quarter, with net charge-offs of $16.4 million, a decrease from $19.7 million in the prior quarter. ❖ Record tangible book value(1) (TBV) of $11.87 per share with year-over-year growth of $1.38, or 13.2%. ❖ Record capital metrics: CET1 ratio(2) of 11.4% and tangible common equity to tangible assets(1) (TCE/TA) of 8.9%. ❖ During the fourth quarter of 2025, the Company repurchased $18 million, or 1.1 million shares of common stock at a weighted average share price of $16.20, while maintaining capital above stated operating levels and supporting loan growth in the quarter. Financial Highlights 4 (1) A non-GAAP measure. (2) Estimated for 4Q25.
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Strong Financial Performance 5 16.3% ROATCE(1) 53.8% Efficiency Ratio(1)(2) 3.28% Net Interest Margin(1)(2) 1.44% ROATA(1) Solid Profitability Metrics Quarter Ended December 31, 2025 Significant Capital, Reserves & Liquidity as of December 31, 2025 Continued Balance Sheet Growth as of December 31, 2025 Total Loan Growth(3)(4) 2.5% 4.5% Total Deposit Growth(3) 25.6% Non-Interest Bearing Deposit to Total Deposit Ratio 13.2% TBV Per Share Growth(1)(3) TCE/TA(1) 8.9% CET1(5) 11.4% 1.26% ACL Ratio 89.7% Loan-to-Deposit Ratio (1) A non-GAAP measure. (2) FTE basis. (3) Comparison to December 31, 2024. (4) Reflects the impact of $200 million of performing residential mortgage loans transferred to held-for-sale. (5) Estimated for 4Q25.
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Fourth Quarter Financial Highlights 6 4Q25 3Q25 4Q24 2025 2024 Net income available to common shareholders (millions) $168.7 $149.5 $109.9 $565.4 $459.3 Earnings per diluted common share $0.47 $0.41 $0.30 $1.56 $1.27 Book value per common share $18.92 $18.52 $17.52 Operating net income available to common shareholders (millions)(1) $181.8 $147.7 $136.7 $576.7 $505.2 Operating earnings per diluted common share(1) $0.50 $0.41 $0.38 $1.59 $1.39 Total loan growth (ending balance)(2)(3) (0.5%) 0.8% 0.7% Total deposit growth (ending balance)(2) 0.8% 1.8% 0.9% Efficiency ratio(1)(4) 53.8% 52.4% 56.9% 54.8% 55.6% Tangible common equity / tangible assets(1)(5) 8.9% 8.7% 8.2% Common equity tier 1 risk-based capital ratio(6) 11.4% 11.1% 10.6% Tangible book value per common share(1)(5) $11.87 $11.48 $10.49 Reported Results Key Operating Results Capital Measures (1) A non-GAAP measure. (2) On a linked-quarter non-annualized basis. (3) Reflects the impact of $200 million of performing residential mortgage loans transferred to held-for-sale. (4) FTE basis. (5) Includes negative AOCI impact of $0.18, $0.22, and $0.47 in 4Q25, 3Q25 and 4Q24, respectively. (6) Estimated for 4Q25.
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Asset Quality $ in millions, unless otherwise stated 4Q25 3Q25 4Q24 4Q25 Highlights Delinquency 0.71% 0.65% 0.83% NPLs+OREO/Total loans and leases + OREO 0.31% 0.37% 0.48% Provision for credit losses $18.9 $24.0 $22.3 Net charge-offs (NCOs) $16.4 $19.7 $20.6 NCOs (annualized)/Total average loans and leases 0.19% 0.22% 0.24% Allowance for credit losses/ Total loans and leases 1.26% 1.25% 1.25% Allowance for credit losses/ Total non-performing loans and leases 417.7% 349.9% 265.0% o Asset quality metrics remain at solid levels, reflecting continued proactive management of the loan portfolio. o Provision for credit losses decreased $5.1 million from the prior quarter, with net charge-offs at 0.19% annualized and 0.20% on a full-year basis. o NPLs+OREO ended the quarter at 31 basis points, a decrease of 6 basis points form the prior quarter. o Delinquency decreased 12 basis points from the year-ago quarter to 0.71% and remains near historically low levels. 7
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1.25% 1.25% 1.25% 1.25% 1.26% 1.34% 1.34% 1.32% 1.32% 1.32% 4Q24 1Q25 2Q25 3Q25 4Q25 NCO’s (Annualized) to Average Loans NPL’s and OREO to Loans and OREO Delinquency to Period End Loans ACL to Total Loans and Leases Asset Quality Ratios 8 Reflects ACL/ Total loans and leases, including the remaining accretable discount on acquired loans (1) 0.24% 0.15% 0.25% 0.22% 0.19% 4Q24 1Q25 2Q25 3Q25 4Q25 Asset quality metrics remain at solid levels and FNB will continue to manage risk proactively as part of our core credit philosophy. 0.83% 0.75% 0.62% 0.65% 0.71% 4Q24 1Q25 2Q25 3Q25 4Q25 0.48% 0.48% 0.34% 0.37% 0.31% 4Q24 1Q25 2Q25 3Q25 4Q25 (1) A non-GAAP measure, refer to non-GAAP to GAAP Reconciliation for further information.
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C&I 20% Owner-Occupied 11% Non-Owner CRE 25% Residential Mortgage 25% Home Equity 7% HELOC 4% Indirect 2% Equip Finance/Commercial Leasing Group 5% Other 1% Total Loan Portfolio: $34.8 billion Total Commercial, including Leases: 60% Total Consumer: 40% Highly diversified, commercial-focused loan portfolio. Loan Portfolio as of December 31, 2025 Loan Portfolio Mix 9
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Retail 21.8% Office 18.0% Residential: Multifamily 26.6% Residential: 1‐4 Family 6.9% Industrial / Warehouse 13.2% Lodging 2.5% Senior Care 4.3% Other 6.8% CRE - Office Loan Statistics as of December 31, 2025 Non-Owner Occupied CRE Portfolio(1) ❖ Long history of working with well-established sponsors with a focus on strong global cash flows. ❖ The top 25 loans average $23 million in exposure. o No outsized risk to any one property. o Spread throughout the FNB footprint. CRE - Office Loans by Funding Size ($) 42% 17% 11% 9% 7% 13% < $5 million $5-10 million $10-15 million $15-20 million $20-25 million > $25 million 24% 13% 13% 10% 19% 21% 2026 2027 2028 2029 2030 > 2030 $8.5 Billion of Non-Owner Occupied CRE Loans CRE Office Loans Delinquency 1.29% Non-performing loans 1.29% Criticized loans 10% Non-Owner Occupied CRE Portfolio 10 CRE - Office Maturity Walls as % of CRE - Office Portfolio ($) (1) Totals may not sum due to rounding
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Non-Owner Occupied CRE Portfolio(1) 11 NOO-CRE Loans1 to Capital NOO-CRE Loan Statistics as of December 31, 2025 150% 175% 200% 225% 250% 275% NOO-CRE/TCE NOO-CRE/Tier 1 Capital+Allowance for Loan Losses ❖ Strong diversification across property types and geographies. ❖ No outsized risk to any one property. o Average loan size is $1 million. o One funded loan over $50 million. ❖ Since 2014, low average net-charge offs of 13 basis points through multiple credit cycles. ❖ Proactively addressing upcoming maturities. o Minimal credit migration at maturity. o Higher than historical rate of pay-offs. o Successfully re-underwriting renewals at current market rates and values. ❖ Conducted targeted reviews and portfolio stress tests. (1) NOO CRE reflects Call Report Methodology using lines BHCKF159, BHDM1460 and BHCKF161.
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Average, $ in millions 4Q25 3Q25 4Q24 QoQ ∆(1) YoY ∆ 4Q25 Highlights Securities $7,707 $7,615 $7,315 1.2% 5.4% Total Loans 34,983 34,814 33,830 0.5% 3.4% Commercial Loans and Leases 21,120 21,174 21,174 (0.3%) (0.3%) Consumer Loans 13,863 13,640 12,657 1.6% 9.5% Earning Assets 44,790 44,480 42,667 0.7% 5.0% Total Deposits 38,631 37,891 36,969 2.0% 4.5% Non-Interest Bearing Deposits 10,019 9,905 9,862 1.1% 1.6% Interest Bearing Deposits 28,612 27,986 27,106 2.2% 5.6% o Total securities duration remained at 3.7 years with AFS comprising ~48% of the portfolio. o Transferred approximately $200 million of performing residential mortgage loans to held-for-sale. o Average deposit growth was due to growth in new and existing customer relationships. o The loan-to-deposit ratio improved to 89.7% at December 31,2025, decreasing more than 170 basis points from December 31, 2024. o The mix of non-interest-bearing deposits to total deposits was 26%, stable to the prior quarter. Balance Sheet Highlights 12 (1) Not Annualized.
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35% 32% 30% 28% 26% 23% 20% 16% 21% 22% 19% 13% 9% 10% 18% 20% 19%50% 52% 52% 53% 53% 54% 56% 58% 54% 52% 55% 56% 57% 56% 53% 54% 56% 16% 16% 18% 19% 22% 23% 24% 26% 26% 26% 26% 31% 34% 34% 29% 26% 26% $6.4 $6.6 $7.3 $9.1 $10.2 $11.4 $12.6 $16.1 $22.4 $23.5 $24.8 $29.1 $31.7 $34.8 $34.7 $37.1 $38.8 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Time Deposits Interest-Bearing Deposits & Savings Non-Interest Bearing Deposits FNB Maintains a Favorable Deposit Mix while Continuing to Grow Deposits. Total Period-End Deposits(1) (2009 – 2025) 2009 2025 Δ NIB Deposits 16% 26% +10% Time Deposits 35% 19% -16% ($ amount in billions) Deposit Composition 13 (1) Totals may not sum due to rounding. Does not include Customer Repurchase Agreements.
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$ in thousands, unless otherwise stated 4Q25 3Q25 4Q24 QoQ Δ(2) YoY Δ 4Q25 Highlights Total interest income $587,490 $595,972 $568,693 (1.4%) 3.3% Total interest expense 222,048 236,700 246,477 (6.2%) (9.9%) Net interest income $365,442 $359,272 $322,216 1.7% 13.4% Non-interest income(3) 92,341 98,170 50,923 (5.9%) 81.3% Total revenue(3) $457,783 $457,442 $373,139 0.1% 22.7% Net interest margin (FTE)(1) 3.28% 3.25% 3.04% 3 bps 24 bps Average earning asset yields (FTE)(1) 5.25% 5.36% 5.34% (11) bps (9) bps Average loan yield (FTE)(1) 5.67% 5.79% 5.79% (12) bps (12) bps Cost of funds 2.09% 2.23% 2.42% (14) bps (33) bps Cost of interest-bearing deposits 2.53% 2.66% 3.00% (13) bps (47) bps Cost of interest-bearing liabilities 2.73% 2.92% 3.20% (19) bps (47) bps o Record net interest income increased $6.2 million from the prior quarter primarily due to growth in earning assets and a lower cost of funds partially offset by lower yields on earning assets. o Net interest margin (FTE)(1) equaled 3.28%, a 3 basis point expansion from the prior quarter. o The total cost of funds decrease was driven by reductions of 13 basis points in cost of interest- bearing deposits to 2.53% and 30 basis points in total borrowing costs to 4.35%. o Total average borrowings decreased $0.6 billion primarily due to the $350 million senior note offering that matured in August of 2025 and the funding provided by the growth in average deposits. Revenue Highlights 14 (1) A non-GAAP measure. (2) Not annualized. (3) Includes amounts related to significant items impacting earnings, representing a loss on a securities restructuring of $34.0 million (pre-tax) in 4Q24.
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14% 18% 24% 32% 38% 44% 48% 51% 53% 54% 23% 38% 40% 35% 37% 10% 13% 17% 22% 27% 31% 34% 37% 38% 40% 16% 28% 28% 24% 25% 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 20% 21% 22% 23% 24% 25% 26% 27% 28% 29% 30% 31% 32% 33% 34% 35% 36% 37% 38% 39% 40% 41% 42% 43% 44% 45% 46% 47% 48% 49% 50% 51% 52% 53% 54% 55% 56% 57% 58% 59% 60% 61% 62% 63% 64% 65% 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 Aug 24 4Q24 1Q25 2Q25 3Q25 4Q25 Total IBD Beta (Up Cycle) Total IBD Beta (Down Cycle) Total Deposit Beta (Up Cycle) Total Deposit Beta (Down Cycle) Prime SOFR Other 37.4% 45.1% 2.2% 15.3% - 2,000,000 4,000,000 6,000,000 8,000,000 10,000,000 12,000,000 14,000,000 16,000,000 18,000,000 Fixed ≤3 month 3-12 months > 12 months Other Balance Sheet Repricing Loan Repricing Frequency as of Decemberr 31, 2025 Cumulative Interest-Bearing and Total Deposit Betas(1) Other 15 Total Loans and Leases: $34.8 billion ❖ ~45% of loans reprice within 3 months. ❖ ~$1.2 billion annual cash flow from the investment portfolio with a roll-off yield of ~3.06%. o Duration of investment portfolio is 3.7 years. ❖ $7.3 billion of time deposits have a remaining weighted average maturity of 5 months. o ~94% of time deposits(2) mature over the next 12 months. ❖ ~$7.2 billion of non-maturity deposits have rates at or above 3.25%. ❖ ~$2.5 billion of floating rate borrowings or fixed rate borrowings maturing in the next 12 months. ❖ We continually evaluate our IRR position and utilize our asset/liability positioning and duration as natural balance sheet hedges, as well as synthetic derivatives on a limited basis to achieve desired NII and capital levels. o $1.45 billion of receive fixed swaps(3) at weighted average rate of 3.83% mature between 2026 and 2030. o $200 million interest rate collar(3) with a floor of 2.85% and a cap of 5.50% maturing in 2026. Commentary (1) The period end total deposit beta for the up cycle reflects the total cumulative beta between 2Q22 and August 31, 2024, and the period-end total deposit beta for the down cycle is the current rate cycle between 3Q24 and 4Q25. (2) Time deposit amount includes brokered deposits. (3) The loan swaps and collars are hedging 1M Term SOFR or 1M Fallback Rate SOFR exposure.
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$ in thousands, unless otherwise stated 4Q25 3Q25 4Q24 QoQ Δ(2) YoY Δ 4Q25 Highlights Service charges $24,013 $23,191 $23,071 3.5% 4.1% Interchange and card transaction fees 13,345 13,424 12,912 (0.6%) 3.4% Trust services 12,211 11,647 11,557 4.8% 5.7% Insurance commissions and fees 4,777 4,495 4,527 6.3% 5.5% Securities commissions and fees 9,129 8,868 6,994 2.9% 30.5% Capital markets income 6,534 7,875 6,571 (17.0%) (0.6%) Mortgage banking operations 5,629 9,183 6,970 (38.7%) (19.2%) Dividends on non-marketable securities 5,683 6,110 5,398 (7.0%) 5.3% Bank owned life insurance 5,264 4,208 3,509 25.1% 50.0% Net securities gains (losses)(1) 0 0 (0) NM(2) NM(2) Other 5,756 9,169 3,394 (37.2%) 69.6% Non-interest income, excluding significant items impacting earnings (1) $92,341 $98,170 $84,903 (5.9%) 8.8% Significant items impacting earnings 0 0 33,980 NM(3) NM(3) Total reported non-interest income $92,341 $98,170 $50,923 (5.9%) 81.3% Non-Interest Income 16 o Total non-interest income decreased $5.8 million from the prior quarter’s record level, which included a $5.4 million recovery on an asset previously written off. o Four fee-based businesses achieved record income levels. o Higher service charges were driven by increased Treasury Management fee revenue and higher consumer transaction volume. o Mortgage banking operations decreased $3.6 million linked quarter primarily due to seasonally lower sold loan volumes and increased MSR amortization from payoff activity. o Capital markets income declined primarily due to the record debt capital markets and international banking income in the prior quarter. o Bank-owned life insurance increased $1.1 million, reflecting higher life insurance claims. (1) Excludes amounts related to significant items impacting earnings, representing a loss on a securities restructuring of $34.0 million (pre-tax) in 4Q24. (2) Not annualized. (3) Not meaningful.
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$162 $202 $249 $275 $300 $310 $330 $323 $321 $350 $369 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 ❖ Priority to continuously make strategic investments to develop and expand new high-value business units that complement our existing products and services. ❖ FNB has established or significantly expanded 10 business lines that are now multi-million-dollar revenue generators(1), leading to a 9% compounded annual growth rate (CAGR) since 2015 for non-interest income. ❖ Capital Markets deep product set includes interest rate and commodities derivatives, international banking, syndications, debt capital markets, public finance and investment banking, allowing FNB to serve all our clients throughout their business’s life cycle and deepen our customer relationships by serving as a trusted advisor. o Capital Markets revenue has more than doubled since 2015. Total Operating Non-interest Income(2) with a 9% CAGR since 2015 (Chart in millions) Strategic Objective to Drive Diversified Fee Income Growth 17 Mortgage Banking Income Capital Markets Income Wealth Management Insurance Revenues Service Charges & Interchange and Card Transaction Fees Other (1) Does not include lines of businesses that were added since 2024. (2) A non-GAAP measure.
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$ in thousands, unless otherwise stated 4Q25 3Q25 4Q24 QoQ Δ(2) YoY Δ 4Q25 Highlights Salaries and employee benefits $133,774 $131,575 $127,992 1.7% 4.5% Occupancy and equipment 47,704 44,823 44,477 6.4% 7.3% Outside services 29,585 26,033 25,660 13.6% 15.3% Marketing 5,297 5,517 5,424 (4.0%) (2.3%) FDIC insurance(1) 7,960 8,623 8,780 (7.7%) (9.3%) Bank shares tax 1,237 3,959 1,609 (68.8%) (23.1%) Other(1) 30,987 25,277 34,258 22.6% (9.5%) Non-interest expense, excluding significant items impacting earnings (1) $256,544 $245,807 $248,200 4.4% 3.4% Significant items impacting earnings 16,625 (2,272) 0 NM(3) NM(3) Total reported non-interest expense $273,169 $243,535 $248,200 12.2% 10.1% Non-Interest Expense 18 o Reported non-interest expense included a discretionary $20 million contribution to the FNB Foundation and a $3.4 million reduction in the FDIC special assessment. o Outside services increased linked- quarter due to higher technology- related and third-party costs. o Net occupancy and equipment increased $2.9 million linked- quarter primarily due to technology-related investments. o Other non-interest expense includes a $4.4 million (pre-tax) non-credit impairment from the investment tax credit transaction. o The efficiency ratio (non-GAAP) equaled 53.8%, up from 52.4% in the prior quarter. (1) Excludes amounts related to significant items impacting earnings: $20 million (pre-tax) contribution to the FNB Foundation and ($3.4) million (pre-tax) reduction in the estimated FDIC special assessment related to the 2023 bank failures in 4Q25, ($2.3) million (pre-tax) reduction in the estimated FDIC special assessment related to the 2023 bank failures in 4Q24. (2) Not annualized. (3) Not meaningful.
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TCE Ratio(1) CET1 Ratio Strong Capital Position 19 FNB’s capital levels reached all-time highs, providing ample flexibility to grow the balance sheet and optimize shareholder returns while appropriately managing risk. 7.6% 7.2% 7.4% 7.2% 7.8% 8.2% 8.9% 2019 2020 2021 2022 2023 2024 2025 9.4% 9.8% 9.9% 9.8% 10.0% 10.6% 11.4% 2019 2020 2021 2022 2023 2024 2025 (5) TCE Ratio (non-GAAP)(1) 8.9% TCE Ratio, adjusted for HTM(2) 8.6% 2025 TCE Capital Levels CET1 Ratio 11.4% CET1 Ratio, adjusted for AFS(3) 11.2% CET1 Ratio, adjusted for AFS & HTM(4) 10.9% 2025 CET1 Capital Levels FNB repurchased $50 million, or 3.3 million shares of common stock at a weighted average share price of $14.92 in 2025. (1) A non-GAAP measure, refer to Non-GAAP to GAAP Reconciliation for further information. (2) Hypothetical TCE calculation if FNB’s HTM unrealized losses were included as part of the calculation. (3) Hypothetical CET1 calculation if FNB’s AFS losses were included as part of this calculation. (4) Hypothetical CET1 calculation if FNB’s AFS and HTM unrealized losses were included as part of this calculation. (5) Estimated for 4Q25.
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2026 Financial Objectives 20 1Q26 Guidance FY 2026 Guidance Commentary Spot Loans Mid-single digit growth Loan growth anticipated across the portfolio driven by increasing market share and our diverse geographic footprint. Spot Deposits Mid-single digit growth Deposit growth driven by continued deepening customer relationships and leveraging our digital and data analytics capabilities. Net Interest Income (non-FTE) $355-$365 million $1.495-$1.535 billion Assumes 25 basis point rate cuts in both April and October 2026. Non-Interest Income $90-95 million $370-$390 million Expect continued benefits from diversified strategy. Provision Expense $85-$105 million To support loan growth and charge-off activity. Non-Interest Expense $255-$260 million $1.00-$1.02 billion Q1 has seasonally higher stock compensation expense and payroll taxes. Effective Tax Rate 21-22% Assumes no investment tax credit activity for 2026. Income Statement Balance Sheet(1) (1) Targets are relative to December 31, 2025.
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Ticker Institution Ticker Institution ASB Associated Banc-Corp. RF Regions Financial Corp. BKU BankUnited, Inc. SFNC Simmons First National Corp. BOKF BOK Financial Corp. SNV Synovus Financial Corp. CBSH Commerce Bancshares, Inc. SSB SouthState Corp. CFR Cullen/Frost Bankers, Inc. TCBI Texas Capital Bancshares, Inc. CMA Comerica Inc. UMBF UMB Financial Corp. FHN First Horizon Corp. VLY Valley National Bancorp. FULT Fulton Financial Corp. WBS Webster Financial Corp. HBAN Huntington Bancshares, Inc. WTFC Wintrust Financial Corp. HWC Hancock Whitney Corp. ZION Zions Bancorp. PNFP Pinnacle Financial Partners 2025 Peer Group Listing 21
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Non-GAAP to GAAP Reconciliation 22
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Non-GAAP to GAAP Reconciliation 23
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Non-GAAP to GAAP Reconciliation 24
Page 25
Non-GAAP to GAAP Reconciliation 25
Page 26
Non-GAAP to GAAP Reconciliation 26
Page 27
Non-GAAP to GAAP Reconciliation 27
Page 28
Non-GAAP to GAAP Reconciliation 28
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Non-GAAP to GAAP Reconciliation 29
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Non-GAAP to GAAP Reconciliation 30