BUSINESS SEGMENTS

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

BUSINESS SEGMENTS

BUSINESS SEGMENTS

We operate in three reportable segments: Community Banking, Wealth Management and Insurance.

•The Community Banking segment provides commercial and consumer banking services. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, business credit, capital markets and lease financing. Consumer banking products and services include deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services.

•The Wealth Management segment provides a broad range of personal and corporate fiduciary services including the administration of decedent and trust estates. In addition, it offers various alternative products, including securities brokerage (under a third-party arrangement) and investment advisory services, mutual funds and annuities.

•The Insurance segment includes a full-service insurance brokerage service offering all lines of commercial and personal insurance through major carriers. The Insurance segment also includes a reinsurer.

The following tables provide financial information for these segments of FNB. The information provided under the caption “Parent and Other” represents operations not considered to be reportable segments and/or general operating expenses of FNB, and includes the parent company, other non-bank subsidiaries and eliminations and adjustments to reconcile to the Consolidated Financial Statements.

TABLE 18.1

(in millions)	Community Banking		Wealth Management		Insurance		Parent and Other		Consolidated
At or for the Three Months Ended September 30, 2022
Interest income	$	342	$	—	$	—	$	1	$	343
Interest expense	41		—		—		5		46
Net interest income	301		—		—		(4)		297
Provision for credit losses	12		—		—		—		12
Non-interest income	62		16		7		(2)		83
Non-interest expense (1)	174		11		5		2		192
Amortization of intangibles	3		—		—		—		3
Income tax expense (benefit)	36		1		—		(2)		35
Net income (loss)	138		4		2		(6)		138
Total assets	42,458		37		33		62		42,590
Total intangibles	2,451		9		27		—		2,487
At or for the Three Months Ended September 30, 2021
Interest income	$	255	$	—	$	—	$	1	$	256
Interest expense	20		—		—		4		24
Net interest income	235		—		—		(3)		232
Provision for credit losses	(2)		—		—		—		(2)
Non-interest income	68		15		6		(1)		88
Non-interest expense (1)	164		10		5		2		181
Amortization of intangibles	3		—		—		—		3
Income tax expense (benefit)	27		1		—		(1)		27
Net income (loss)	111		4		1		(5)		111
Total assets	39,238		43		34		46		39,361
Total intangibles	2,271		9		27		—		2,307
(1) Excludes amortization of intangibles, which is presented separately.

(in millions)	Community Banking		Wealth Management		Insurance		Parent and Other		Consolidated
At or for the Nine Months Ended September 30, 2022
Interest income	$	874	$	—	$	—	$	3	$	877
Interest expense	82		—		—		10		92
Net interest income	792		—		—		(7)		785
Provision for credit losses	35		—		—		1		36
Non-interest income	179		48		20		(4)		243
Non-interest expense (1)	554		32		14		5		605
Amortization of intangibles	9		—		1		—		10
Income tax expense (benefit)	78		3		1		(5)		77
Net income (loss)	295		13		4		(12)		300
Total assets	42,458		37		33		62		42,590
Total intangibles	2,451		9		27		—		2,487
At or for the Nine Months Ended September 30, 2021
Interest income	$	759	$	—	$	—	$	1	$	760
Interest expense	67		—		—		10		77
Net interest income	692		—		—		(9)		683
Provision for credit losses	2		—		—		1		3
Non-interest income	191		45		19		(4)		251
Non-interest expense (1)	491		30		15		6		542
Amortization of intangibles	8		—		1		—		9
Income tax expense (benefit)	75		3		1		(5)		74
Net income (loss)	307		12		2		(15)		306
Total assets	39,238		43		34		46		39,361
Total intangibles	2,271		9		27		—		2,307

(1) Excludes amortization of intangibles, which is presented separately.