secwatch.observer — SEC 8-K summary
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Issuer:     FNB CORP/PA/ (FNB)
CIK:        0000037808
Form:       8-K
Filed at:   2024-01-19T23:59:59+00:00
Accession:  0000037808-24-000002
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FNB Q4 GAAP net income $48.7M ($0.13/diluted); operating EPS $0.38; balance sheet actions taken
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- GAAP diluted EPS $0.13 vs $0.38 in Q4 2022; operating (non-GAAP) diluted EPS $0.38 vs $0.44.
- Record full-year revenue $1.6B; tangible book value per share grew 14.5% YoY to $9.47.
- Sold $650M AFS securities with realized loss $67.4M; reinvested at ~350bps higher yield; transferred $355M indirect auto loans to HFS.
- CET1 ratio 10.1% (estimated); NIM (FTE) 3.21%, down 5bps QoQ; non-performing loans ratio 0.34%.
- FDIC special assessment of $29.9M included in Q4 expenses; effective tax rate 13.1% due to solar project tax credits.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/37808/000003780824000002/0000037808-24-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/37808/000003780824000002/fnb-20240118.htm
  HTML page:      https://secwatch.observer/filing/0000037808-24-000002

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer