F.N.B. Corporation

Good morning and welcome to the FNB Corporation second quarter 2026 earnings call. All participants will be in listen only mode. Should you need assistance, please signal a conference specialist by pressing the star key then zero on your telephone keypad. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw the question, please press star then 2. Please note, this event is being recorded. I would now like to turn the conference over to Lisa Hajdu, Manager of Investor Relations. Please go ahead.

Good morning and welcome to our earnings call. This conference call of N.B. Corporation and the reports it files with the Securities and Exchange Commission often contain overlooking 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 Friday, July 24th, 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 Delie, Chairman, President, and CEO.

Thank you, and welcome to our second quarter earnings call. Joining me today are Vince Calabrese, our Chief Financial Officer, and Gary Guerrieri, our Chief Credit Officer. FMV's second quarter earnings per share grew 17% year over year. to 42 sets with net income of $149 million. Our results included another quarter of record revenue totaling $463 million driven by net interest income of $366 million and solid non-interest income of $97 million. The solid quarterly performance contributed to pre-provision net revenue increasing 9% from the year-ago quarter and positive operating On a year-over-year basis, tangible book value per common share increased 10% to $12.24, demonstrating our strong profitability levels and commitment to peer-leading internal capital generation. FNB repurchased 47 million, or 2.7 million, shares of common stock at a weighted average share price of $17.46. FNB's capital levels remain strong With PCE at nearly 9% and with a solid return on average tangible common equity at 14%. Period end loans increased 7.5% on an annualized link quarter basis with growth led by commercial and industrial, consumer lending, and seasonal residential mortgage production. D&I's 8% annualized link quarter growth was driven by lower-risk-rated, high-quality commercial borrowers. By leveraging our deep products at capital markets, we were able to produce double-digit returns for the overall relationship while maintaining our strict credit discipline and originating lower-risk assets in a volatile geopolitical and economic environment. Our commitment to deepening customer relationships and serving as their primary operating bank was a key driver for 3% annualized growth in total average deposits with average non-interest bearing deposit balances growing nearly 5% annualized despite the competitive environment. At quarter end, non-interest bearing deposit balances were over $10 billion for the second consecutive quarter allowing us to maintain a 26% mix of non-interest bearing to total deposits for the seventh consecutive quarter. Our data analytics team has been able to leverage the success of our proprietary e-store and common application to gather additional data points for meaningfully improved insights on customers' preferences and competitive pricing. This ability enables us to use our significant investments in our data hub and machine learning to analyze the relationships holistically to strategically price deposits. Our ability to utilize insights to drive pricing decisions contributed to the total cost of deposits decreasing three basis points in quarter and 21 basis points from the year-ago quarter. Our wealth management revenue is up 8% year over year, aided by the utilization of new tools to improve client engagement with advanced financial planning, better portfolio analysis, and increased efficiencies. For example, our brokerage advisors have been able to quickly translate complex financial data into intuitive visuals for our clients. These tools paired with the key strategic financial advisory hires across our footprint help to expand client relationships and produce record brokerage fee income this quarter. We have also achieved solid progress on the development of our new AI-enabled customer aggregation and insight tool, Insight360. The ultimate goal will provide our clients and bankers with the ability to optimize their banking relations and improve product penetration. Our Insight360 tool is expected to go live by the end of the year with additional enhancements to be introduced over time. In combination with the Common App, Insight360 will enable FNB to continue to grow our share of wallet and customer primacy based upon positive outcomes for our clients. As we've demonstrated over the past decade, we can successfully introduce innovative digital and data solutions while also achieving a top quartile efficiency ratio. We will maintain the same disciplined approach We believe FNB is one of the best positioned financial institutions to strategically expand AI and data analytics usage to drive efficiency and accelerate revenue growth. Our value proposition is is being a trusted and regulated financial institution with FinTech capabilities. These attributes will serve us well as we continue to adapt to a changing competitive landscape. With that, I will now turn the call over to Gary to discuss our credit results for the quarter.