PARENT COMPANY FINANCIAL STATEMENTS

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

The following is condensed financial information of F.N.B. Corporation (parent company only). In this information, the parent company’s investments in subsidiaries are stated at cost plus equity in undistributed earnings of subsidiaries since acquisition. This information should be read in conjunction with the Consolidated Financial Statements.

TABLE 26.1


Balance Sheets (in millions) December 31	2024		2023
Assets
Cash and cash equivalents	$	803	$	375

Other assets	185		98
Investment in bank subsidiary	6,272		6,014
Investments in and advances to non-bank subsidiaries	581		572
Total Assets	$	7,841	$	7,059
Liabilities
Other liabilities	$	142	$	110
Advances from affiliates	197		197
Long-term borrowings	1,193		695
Subordinated notes:
Short-term	6		6
Long-term	1		1
Total Liabilities	1,539		1,009
Shareholders’ Equity	6,302		6,050
Total Liabilities and Shareholders’ Equity	$	7,841	$	7,059

TABLE 26.2


Statements of Income (in millions) Year Ended December 31	2024		2023		2022
Income
Dividend income from subsidiaries:
Bank	$	307	$	382	$	254
Non-bank	2		3		6
	309		385		260
Interest income	23		16		16
Other income	1		1		—
Total Income	333		402		276
Expenses
Interest expense	53		47		34
Other expenses	29		21		17
Total Expenses	82		68		51
Income Before Taxes and Equity in Undistributed Income of Subsidiaries	251		334		225
Income tax benefit	14		15		9
	265		349		234
Equity in undistributed income of subsidiaries:
Bank	194		130		200
Non-bank	6		6		5
Net Income	$	465	$	485	$	439

TABLE 26.3


Statements of Cash Flows (in millions) Year Ended December 31	2024		2023		2022
Operating Activities
Net income	$	465	$	485	$	439
Adjustments to reconcile net income to net cash flows from operating activities:
Undistributed earnings from subsidiaries	(200)		(136)		(203)
Other, net	(6)		(4)		—
Net cash flows provided by (used in) operating activities	259		345		236
Investing Activities

Net increase in advances to subsidiaries	—		(75)		(18)
Payment for further investment in subsidiaries	(3)		(9)		3
Increase in premises and equipment	(47)		(8)		—
Net cash received in business combinations	—		—		9
Net cash flows provided by (used in) investing activities	(50)		(92)		(6)
Financing Activities


Decrease in long-term debt	—		(331)		(3)
Increase in long-term debt	499		2		351
Redemption of preferred stock	(111)		—		—
Other, net	8		(29)		(32)

Cash dividends paid:
Preferred stock	(2)		(8)		(8)
Common stock	(175)		(174)		(171)
Net cash flows provided by (used in) financing activities	219		(540)		137
Net Increase (Decrease) in Cash and Cash Equivalents	428		(287)		367
Cash and cash equivalents at beginning of year	375		662		295
Cash and Cash Equivalents at End of Year	$	803	$	375	$	662
Cash paid during the year for:
Interest	$	54	$	48	$	34