F.N.B. Corp (FNB) Tops Q1 EPS by 1c
F.N.B. Corp (NYSE: FNB) reported Q1 EPS of $0.14, $0.01 better than the analyst estimate of $0.13.
Vincent J. Delie, Jr., President, Chairman and CEO of F.N.B. Corporation, said of its results, "Today's COVID-19 pandemic and economic environment present all businesses, employees, customers and communities with new challenges. As an essential business, FNB is committed to being there for our customers when they need us the most, while at the same time, protecting the health and safety of our employees.
Our ongoing investments in technology and our digital platforms, including online appointment setting, enabled FNB to quickly meet customers' needs in a new pandemic environment. We were able to develop an online application system in a week\'s time to capture and process nearly 15,000 applications and $2.1 billion in the first allocation of funding to small businesses through participation in the SBA\'s Paycheck Protection Program.
In addition to providing deferral and support programs for customers experiencing financial hardships due to the coronavirus, FNB committed $1 million in relief assistance to our communities, benefiting food banks and providing funding for essential medical supplies. We also supported our colleagues in the field with enhanced financial benefits and extended leave programs. I would like to commend and thank our employees. Their professional, compassionate, positive and resilient attitudes have been a bright light in helping each other, our customers, and our communities. Moving forward, FNB is prepared for economic fluctuations, with ample liquidity and capital levels well above regulatory requirements. I am equally confident in our team\'s ability to continue to deliver quality service and, in return, quality results."
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