F.N.B. reports increased income

F.N.B. reports increased income

HERMITAGE, PA.

F.N.B. Corp. reported a net income of $23.8 million during the third quarter, up from $22.4 million during the third quarter last year.

The diluted earnings per share increased from 18 to 19 cents.

Through the first nine months of 2011, F.N.B.’s net income has increased $12.2 million, from $51.1 million in 2010 to $63.3 million this year.

The diluted earnings per share increased from 45 to 51 cents.

Stephen J. Gurgovits, CEO of F.N.B., said revenue has grown for eight-straight quarters.

Loan growth has grown for nine consecutive quarters.

PNC Financial reports income drop

PITTSBURGH

PNC Financial Services Group Inc. reported a net income of $834 million during the third quarter, down from $1.1 billion during the same quarter last year.

The diluted earnings per share was $1.55, slightly topping analyst estimates of $1.49 but down from $2.07 during the same quarter last year.

The EPS has risen from $4.24 to $4.79 through the first three quarters of 2011 compared with 2010.

James Rohr, chairman and chief executive officer, said Wednesday that he was pleased with the quarter, especially in “an environment with very slow economic growth.”

PNC grew its customer, loan and deposit bases during the third quarter.

Its retail-banking checking relationships grew by 95,000 during the third quarter.

New-client acquisitions rose 10 percent, and total deposits grew $5.8 billion.

PNC also reported success with its Virtual Wallet online feature, which debuted earlier this year and grew by about 10,000 customers a week during the third quarter.

Comprehensive Logistics union vote

AUSTINTOWN

About 500 Comprehensive Logistics employees will vote on a new union contract today, according to The Vindicator’s broadcast partner, 21 WFMJ-TV.

The current contract is set to expire this week.

Comprehensive Logistics provides supply-chain logistics to the General Motors Co. Lordstown complex, which produces the Chevrolet Cruze.

Incubator to open student art gallery

YOUNGSTOWN

The Youngstown Business Incubator’s art gallery, featuring works from Youngstown State University students, opens today and runs through Nov. 11.

An opening reception will take place from 4 to 6 p.m. at the Semple Building near the incubator on West Federal Street.

The show will be open to the public from 9 a.m. to 1 p.m. weekdays.

All are welcome to attend.

Vindicator staff reports