F.N.B. Corp (NYSE: FNB) reported Q2 EPS of $0.27, in-line with the analyst estimate of $0.27.

"During the second quarter of 2018, FNB produced record results with operating earnings per share of $0.27, increasing 17% compared to prior year, and total revenue surpassed $300 million for the first time in our history," said Vince J. Delie Jr., Chairman, President and Chief Executive Officer. "Operating net income increased 22% compared to the prior year, led by solid loan and deposit growth and excellent results in nearly all of our fee-based businesses. Capital markets, mortgage banking, insurance, brokerage and wealth management all benefited from increased contributions from our Carolina markets, which have experienced significant growth compared to the prior year. Additionally, the quarter reflects the successful completion of several strategic initiatives that better position our balance sheet and enhance our long-term growth prospects, while maintaining our risk profile."

Second Quarter 2018 Highlights (All comparisons refer to the second quarter of 2017, except as noted)

• Growth in total average loans was $1.1 billion, or 5.3%, with average commercial loan growth of $570 million, or 4.4%, and average consumer loan growth of $514 million, or 6.9%.
• Total average deposits increased $1.3 billion, or 6.3%, which included an increase in average non-interest bearing deposits of $298 million, or 5.4%, and an increase in average time deposits of $1.0 billion, or 26.7%.
• The loan to deposit ratio was 96.1% at June 30, 2018, compared to 97.5%.
• The net interest margin (FTE) (non-GAAP) expanded 9 basis points to 3.51% from 3.42%.
• Total revenue increased 6.9% to $304 million, reflecting a 9.6% increase in net interest income, partially offset by a 1.8% decrease in non-interest income.
• Non-interest income decreased $1.2 million or 1.8%. Excluding the loss on fixed assets related to branch consolidations, non-interest income increased $2.5 million or 3.8%, with continued growth in wealth management, capital markets, and mortgage banking.
• The efficiency ratio totaled 55.6%, compared to 54.3%.
• The annualized net charge-offs to total average loans ratio increased to 0.34% from 0.23%.
• The ratio of the allowance for loan losses to total loans and leases increased 1 basis point to 0.82%.

For earnings history and earnings-related data on F.N.B. Corp (FNB) click here.