F.N.B. Corporation, the Pittsburgh-based parent of First National Bank with a large Northeast Ohio footprint, reported third-quarter net income of $152.9 million, or 43 cents per diluted share, up from $149.5 million in the same quarter last year and $148.7 million in the second quarter of 2026.
The results, released through PR Newswire and covered Tuesday by Youngstown’s Business Journal Daily, were driven by record net interest income of $376.5 million, an increase of $17.3 million from a year earlier. The bank’s net interest margin expanded four basis points during the quarter as higher-yielding assets replaced older, lower-yielding ones.
Loan growth was the other headline. Period-end loans and leases rose $768 million in the quarter, an 8.5 percent annualized pace, with consumer loans up $435 million and commercial loans and leases up $333 million. Average loans totaled $36.1 billion, up 3.7 percent from a year ago, and average consumer loans grew by $1.2 billion, led by a 10 percent jump in residential mortgage balances.
On the commercial side, average commercial and industrial loans climbed $856 million, or 11.3 percent, which the company attributed in part to strong equipment finance production. That growth offset a $735.7 million decline in average commercial real estate loans, a portfolio the bank has been deliberately shrinking, with commercial real estate ending the quarter at 182 percent of Tier 1 capital plus allowance.
“For the third quarter of 2026, we generated record net interest income, expanded net interest margin and increased tangible book value per common share 7% year-over-year, while continuing to return capital through share repurchase activity and an attractive dividend,” said Vince Delie, F.N.B.’s chairman, president and CEO.
Executives told analysts that consumer production stayed strong across categories while credit quality held near historical lows, with average origination FICO scores of 785 and delinquency and charge-off rates the company described as solid. Commercial and industrial utilization dipped slightly even as balances grew, particularly in manufacturing.
For Northeast Ohio customers, the numbers land close to home: First National Bank branches serve communities across the Mahoning Valley and the wider Cleveland market, and executives specifically cited the Cleveland market among the strongest contributors to commercial loan growth in the quarter. The company said pipelines remain robust heading into the fourth quarter, positioning it to pursue its full-year growth targets.
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