F.N.B. Guides Q3 NII $375M-$385M, Revises Full-Year Outlook (NYSE:FNB)

F.N.B. reported second-quarter earnings that rose 17% from a year earlier, driven by record revenue and growth in loans and deposits. The bank also issued a third-quarter net interest income forecast of $375 million to $385 million and revised its full-year NII outlook to $1.485 billion to $1.515 billion.

Revenue hit a record, the company said on its earnings call. Loan balances increased, and deposit growth continued. The bank repurchased shares during the quarter.

The new full-year NII range compares with a prior forecast of $1.5 billion to $1.55 billion, implying some pressure on net interest margin. F.N.B. cited competition for deposits and loan pricing as factors. The bank said it expects credit quality to remain stable.

F.N.B. bought back $50 million in stock during the quarter and said it remains on track for its capital return plan.