F.N.B Corp. reports ‘record income’ in 3rd quarter
Staff report
youngstown
F.N.B. Corp., the holding company for First National Bank of Pennsylvania, reported a nearly 6 percent increase in third-quarter profit compared with the same period a year ago.
Net income available to common shareholders for the third quarter of 2014 was $33.4 million, or a 20-cent per share profit, compared with $31.6 million and 22 cents per share in the third quarter of 2013.
“This was another very good quarter with record net income,” said Vincent J. Delie Jr., president and chief executive officer. “We remain focused on building long-term value for our shareholders as we continue to successfully manage through the current regulatory and economic environment.”
Average loans totaled $10.1 billion and increased $1.6 billion, or 19.4 percent, from last year. Additionally, net interest income increased 18.2 percent to $347.8 million.
The report also highlighted the acquisition of OBA Financial Services Inc. in Maryland. The company’s expansion into the Baltimore and Cleveland markets continue to gain momentum in its results, Delie Jr. said.
F.N.B. Corp. has more than 280 banking offices throughout Pennsylvania, Ohio, West Virginia and Maryland.