F.N.B. Corporation

Good morning, everyone, and welcome to the FMB fourth quarter 2025 earnings conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star and then one on your touchtone phones. To withdraw your questions, you may press star and two. Please also note, So today's event is being recorded. At this time, I'd like to turn the conference call over to Lisa Hajdu, Manager of Investor Relations. Ma'am, please go ahead.

Good morning, and welcome to our earnings call. This conference call of F&B Corporation and the reports it files with the Securities and Exchange Commission often contain forward-looking statements and non-GAAP financial measures. Non-GAAP financial measures should be viewed in addition to and not as an alternative for our reported results prepared in accordance with GAAP. Reconciliations of GAAP to non-GAAP operating measures to the most directly comparable GAAP financial measures are included in our presentation materials and in our earnings release. Please refer to these non-GAAP and forward-looking statement disclosures contained in our related materials, reports, and registration statements filed with the Securities and Exchange Commission and available on our corporate website. A replay of this call will be available until Wednesday, January 28th, and the webcast link will be posted to the About Us Investor Relations section of our corporate website. I will now turn the call over to Vince Dilley, Chairman, President, and CEO.

Thank you, and welcome to our fourth quarter earnings call. Joining me today are Vince Calabrese, our Chief Financial Officer, and Gary Guerrero, our Chief Credit Officer. FMB reported fourth quarter operating net income available to common shareholders of $182 million, or 50 cents per diluted common share. Full year 2025's operating performance reflected several records, including revenue of $1.8 billion, operating net income available to common shareholders of $577 million, and operating earnings per diluted common share of $1.59. Full-year operating EPS grew 14% year-over-year, driven by the 9% growth in net interest income, significant margin expansion, and record non-interest income. We delivered strong profitability and capital metrics with return on average tangible common equity equaling 16% and tangible book value per share of $11.87, an increase of 13% from the year-ago quarter. Throughout 2025, we focused on resetting the balance sheet to best position FMV for continued future success, including managing loan concentrations, as well as improving the loan-to-deposit ratio to 89.7%. In December, we transferred approximately $200 million of performing residential mortgage loans to Help for Sales, in anticipation of a loan sale to close in the first quarter of 2026. Additionally, as I mentioned on the earnings call a year ago, we have strategically decreased our CRE concentration organically to 197% over the past two years. We are generating enough capital to support growth across our loan portfolio, including CRE, and have ample capacity to achieve historical growth rates. Since launching our clickster brick strategy 10 years ago, FMB has introduced innovative solutions, including the e-store and common application, that provide an enhanced client experience to deepen relationships and achieve customer privacy. Our comprehensive digital strategy, including our early adoption of AI, remains a driving force behind client acquisition, engagement, and convenience. This quarter, we introduced Payment Switch, which enables customers to easily switch pre-authorized payments to their primary checking to FMV through our mobile app. With Direct Deposit Switch and Payment Switch, we've eliminated two of the most common barriers for customers to move their primary banking relationship to FMV. This is another great example of how FMV is leading the industry with our e-store, click-to-brick strategy, and comprehensive digital capabilities. We are planning on introducing additional, unique features over the coming quarters that will benefit our customers and further differentiate us in the marketplace. Concurrently, FMV continues to expand AI and data analytics usage to drive efficiency and accelerate revenue growth. Through our disciplined expense management culture, FMB has achieved annual cost savings of $10 to $20 million per year since 2019. Leveraging our investments in technology, AI, and data analytics, we expect even higher levels of cost savings in 2026 through increased automation and process improvements. This provides FMB the ability to continue to invest in our revenue-generating businesses and differentiated omni-channel customer experience while continuing to produce meaningful positive operating leverage. With that, I would like to turn the call over to Gary to discuss the strong credit results for the quarter. Gary?