First National reports year-over-year increase

Staff report

PITTSBURGH

F.N.B. Corp. of Pittsburgh reported earnings for the fourth quarter of 2016 with net income available to common stockholders of $49.3 million.

Comparatively, third quarter of 2016 net income available to common stockholders totaled $50.2 million, and fourth quarter of 2015 net income of $37.1 million.

Net income available to common stockholders for the full year of 2016 totaled $162.9 million compared with net income available to common stockholders of $151.6 million in 2015.

During the fourth quarter, organic growth in total average loans was $179 million with average consumer loan growth of $154 million and average commercial loan growth of $26 million. Average deposits totaled $16 billion.

For the year, average loans totaled $14.3 billion, an increase of $2.6 billion year over year. Organic growth in total average loans equaled $929 million, organic growth in average commercial loans totaled $485 million and organic growth in average consumer loans was $437 million. Total organic commercial loan growth was led by the Pittsburgh, Baltimore and Cleveland markets. Average deposits totaled $15.4 billion and increased $3.2 billion year over year.