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The parent company of First National Bank of Pennsylvania makes a profit of $ 83.2 million
FNB Corp., the parent company of First National Bank of Pennsylvania, made a profit of $ 83.2 million dollars, or 26 cents per share. This is a decrease of $ 1.6 million compared to the first quarter of $ 84.8 million, but $ 10.8 million compared to the second quarter of 2017. [19659003] The earnings figures released Tuesday in a quarterly report include branch consolidation costs and an additional $ 401k in discretionary contribution as a result of the tax reform.
Less these costs, the profits were 27 cents per share, an increase of 17 percent over the previous year said Vincent J. Delie Jr., chairman of the board, chairman and chief of the direction, in a press release.
Average loans increased by $ 1.1 billion over the previous year, or 5.3 per cent, with commercial loan growth of $ 570 million or 4.4 per cent, and average consumer loans of $ 514 million or 6.9%. $ 1.3 billion, or 6.3%, including an increase in average non – performing deposits of $ 298 million, or 5.4%, according to the company.
"The total business figure has exceeded $ 300 million. Net operating income increased 22% year-over-year, driven by strong loan and deposit growth and excellent results in almost all our income-generating businesses.
Financial Markets, Mortgage Credit, Insurance, Brokerage and Wealth Management Pittsburgh-based FNB Corp. operates in eight states and seven branches in the Berks and Tri-County areas. .
The company also operates Regency Finance Co., which has 77 offices and $ 170 million in total badets in Pennsylvania, Ohio, Kentucky and Tennessee, including one located at 3225 Fifth Street Highway in the Township of Muhlenberg
but recently announced the sale of Regency in Baltimore. based on Mariner Finance LLC.
According to FNB officials, this agreement will be reached in the second half of the year once all regulatory hurdles have been resolved.
By closing 20 of its bank branches and selling Regency, a non-core business sector that does not fit the core business, ETF officials said the company would improve its bank operations in the near future. the consumption. Jeff McGaw: 610-371-5071 or [email protected]
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