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MB5-229 tiny commerce Financials 8.0

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MB5-229 exam Dumps Source : Small commerce Financials 8.0

Test Code : MB5-229
Test designation : Small commerce Financials 8.0
Vendor designation : Microsoft
: 185 existent Questions

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Microsoft tiny commerce Financials 8.0

5 Server working methods for your business

When it comes to settling on a server OS on your enterprise, gape for security, stability and collaboration.

March 19, 2009 5 min study

Opinions expressed by pass of Entrepreneur contributors are their personal.

Mac OS X Server

Mac OS X Server is Apple's Unix server operating system. At its core, OS X Server shares a few add-ons with FreeBSD, and most Linux or xBSD apps will besides breathe recompiled fairly with ease to Run on OS X. in response to Apple, Mac OS X Server's full Unix conformance ensures compatibility with present server and utility application.

based on the selfsame architecture as Mac OS X, Mac OS X Server comprises additional capabilities, functions, and administration tools for managing and deploying servers. it breathe generally found in tiny company, training, and sizable businesses.

Mac OS X Server comprises capabilities and functions for move-platform file sharing, necessities-based mostly directory and authentication features, networking and protection features, calendaring and scheduling, web hosting, email features, comfy rapid messaging, internet-primarily based collaboration, tackle imaging, reside video broadcasting and on-demand video streaming, podcast encode and beginning, customer administration, and disbursed computing. OS X Server 10.6, the Snow Leopard version, aspects a full 64-bit working device.

Mac OS X Server 10.6 retails for $999 with an infinite-client license and $499 for a 10-customer license.

windows tiny company Server 2008

Microsoft's home windows tiny company Server is an integrated server suite that runs the network infrastructure of businesses which abide fewer than 75 workstations or clients. software server technologies are tightly built-in to allow tiny corporations with centered options and present administration merits similar to e mail, cyber web connectivity, internal internet sites, far flung access, assist for cell contraptions, file and printer sharing, backup, and repair.

Launched in November, SBS 2008, prior to now code-named Cougar, is available in two flavors: typical ($1,089) and premium ($1,899), the latter of which adds the small-business version of SQL Server 2008 and several different technologies drawn from home windows Server 2008.

The 2008 edition is up to date to expend 64-bit Server 2008 and change 2007. agencies that buy SBS 2008 pays 30% to 35% less for the bundle than in the event that they'd purchased à la carte application, said Steven VanRoekel, senior director of home windows Server solutions, who added that organizations besides will retailer through employing the software to create net pages or performing IT obligations.

in the meantime, for midsize companies with more sophisticated IT needs, windows simple enterprise Server 2008, in the past code-named Centro, offers a number extra messaging, management, and security equipment. enjoy SBS 2008, EBS 2008 comes in two versions: ordinary is $5,472, and top class is $7,163.

Linux

There is rarely one Linux working device -- quite, you can buy a boxed edition of Linux from a corporation or down load it from a corporation or an individual. Most Linux server distros Run the selfsame Linux kernel but fluctuate considerably in terms of software applications and licensing/guide fashions. costs latitude significantly, as well, from free to a pair thousand greenbacks, which is what the red Hat server OS tops out at.

The server edition of Ubuntu Linux is free. Backed by pass of the well-funded, for-earnings enterprise Canonical, Ubuntu Linux has emerged from relative obscurity to connect the prerogative tier of company Linux options. As bMighty's Matthew McKenzie stated, "Ubuntu has worked tough to space itself as a Good selection for smaller businesses that wish to sever their up-entrance prices without sacrificing the skill to find skilled carrier and back when they want it." He adds that subscription-primarily based distros are an option for agencies for you to likely heavily depend on a dealer's provider and help. Subscription-based distros could besides provide a safety internet for IT departments that need to "promote" a Linux deployment to possibility-averse, non-IT determination makers.

after which there is the "green" point of Linux ...

FreeBSD

FreeBSD is developed and maintained by pass of a team of people. it's derived from BSD, a edition of Unix. which you can try this text for assist selecting a FreeBSD version arrogate on your business. And, undoubtedly, FreeBSD is free.

The open supply FreeBSD has been touted as being top of the line for prime-efficiency community functions in addition to being handy to use. it breathe the free OS listed most often in Netcraft's checklist of the 50 internet servers with the longest uptime (meaning no crashes abide occurred and no kernel updates were deemed necessary, because installation a brand new kernel requires a reboot, resetting the uptime counter of the system).

FreeBSD 7 is on edition 7.1, released in January. New aspects embrace SCTP, u.s.a.journaling, an experimental port of solar's ZFS file gadget, GCC4, improved aid for the ARM architecture, jemalloc (a reminiscence allocator optimized for parallel computation, which became ported to Firefox 3), and foremost updates and optimizations concerning community, audio, and SMP efficiency. edition 8.0 is expected in the third quarter of this yr.

Solaris

solar Microsystems has heavily marketed Solaris to breathe used with its personal x64 workstations and servers in line with AMD Opteron and Intel Xeon processors, in addition to x86 techniques manufactured through organizations akin to Dell, Hewlett-Packard, Intel, Fujitsu Siemens, and IBM. The newest Solaris OS, version 10, delivered paravirtualization assist for when or not it's used as a visitor OS in Xen-primarily based environments comparable to sun xVM Server.

The OpenSolaris operating system is a free, open supply unencumber that offers more than a few aid alternatives for organizations. The latest enhancements to OpenSolaris consist of ZFS, Solaris Containers, and Predictive Self healing.

solar began aggressively dating the small- and midsize-company market ultimate 12 months by pass of making accessible a portfolio of its server, storage, and software products that comprises its entry-level Sparc processor-based servers and StorageTek arrays; operating methods including Solaris 10, windows, and Linux; and its MySQL open supply database.

lately, it was suggested that solar archrival Hewlett-Packard will ration Solaris 10 on its superior-selling ProLiant servers. HP will additionally promote one- and three-yr typical and top rate subscriptions for Solaris.


Microsoft Cloud power highlights third quarter consequences

industrial cloud annualized income Run fee exceeds $15.2 billion

REDMOND, Wash. — April 27, 2017 — Microsoft Corp. nowadays introduced the following results for the quarter ended March 31, 2017:

  • income turned into $22.1 billion GAAP, and $23.6 billion non-GAAP
  • operating earnings became $5.6 billion GAAP, and $7.1 billion non-GAAP
  • internet income became $4.eight billion GAAP, and $5.7 billion non-GAAP
  • Diluted revenue per partake became $0.sixty one GAAP, and $0.seventy three non-GAAP
  • “Our consequences this quarter reflect the believe valued clientele are placing within the Microsoft Cloud,” talked about Satya Nadella, chief government officer at Microsoft. “From massive multi-nationals to tiny and medium agencies to non-profits far and wide the world, organizations are using Microsoft’s cloud platforms to energy their digital transformation.”

    here table reconciles their monetary outcomes suggested in response to commonly authorized accounting principles (“GAAP”) to non-GAAP monetary results. Microsoft has offered this non-GAAP economic suggestions to back buyers in superior realizing the business’s efficiency. additional info related to their non-GAAP definition is equipped beneath. complete boom comparisons relate to the corresponding duration in the ultimate fiscal year.

    Three Months Ended March 31,  ($ in hundreds of thousands, except per partake quantities) profits operating revenue net salary Diluted earnings per proportion2016 As stated (GAAP) $20,531 $5,283 $3,756 $0.47   web impact from windows 10 income Deferrals 1,625 1,625 1,282 0.16 2016 As Adjusted (non-GAAP) $22,156 $6,908 $5,038 $0.sixty three 2017 As said (GAAP) $22,090 $5,594 $four,801 $0.sixty one   internet impact from windows 10 salary Deferrals 1,467 1,467 914 0.12 2017 As Adjusted (non-GAAP) $23,557 $7,061 $5,715 $0.seventy three percentage exchange Y/Y (GAAP) 8% 6% 28% 30% percent exchange Y/Y (non-GAAP) 6% 2% 13% 16% percentage change Y/Y (non-GAAP) regular forex 7% 5% 16% 19%

    Microsoft lower back $4.6 billion to shareholders within the profile of partake repurchases and dividends in the third quarter of fiscal year 2017.

    “powerful execution and exact for their cloud-based mostly features drove their industrial cloud annualized salary Run rate to more than $15.2 billion,” observed Amy Hood, executive vp and chief economic officer at Microsoft.

    income in productivity and enterprise approaches became $eight.0 billion and multiplied 22% (up 23% in consistent alien money), with here company highlights:

  • workplace industrial products and cloud features earnings elevated 7% (up 8% in steady forex) driven by means of workplace 365 commerce salary boom of 45% (up forty five% in constant currency)
  • workplace client items and cloud features salary accelerated 15% (up 14% in regular currency) and workplace 365 consumer subscribers multiplied to 26.2 million
  • Dynamics items and cloud functions profits accelerated 10% (up 11% in steady alien money) pushed by using Dynamics 365 earnings growth of eighty one% (up eighty two% in regular forex)
  • LinkedIn contributed salary of $975 million
  • income in clever Cloud was $6.eight billion and accelerated 11% (up 12% in steady forex), with prerogative here company highlights:

  • Server products and cloud features revenue extended 15% (up 16% in constant alien money) pushed via Azure income boom of ninety three% (up 94% in constant alien money)
  • enterprise services income decreased 1% (unchanged in regular alien money) with declines in customized back agreements offset by increase in Premier back functions and consulting
  • revenue in additional own Computing became $eight.eight billion and decreased 7% (down 7% in steady alien money) pushed primarily by pass of diminish cellphone income, with the following enterprise highlights:

  • home windows OEM earnings expanded 5% (up 5% in constant alien money)
  • windows commerce items and cloud capabilities income elevated 6% (up 6% in steady currency)
  • floor profits decreased 26% (down 25% in constant alien money)
  • Search advertising income aside from site visitors acquisition charges multiplied 8% (up 9% in steady currency)
  • Gaming earnings elevated 4% (up 6% in steady forex)
  • business Outlook

    Microsoft will deliver ahead-searching tips in connection with this quarterly income announcement on its revenue conference designation and webcast.

    Webcast details

    Satya Nadella, chief executive officer, Amy Hood, government vice chairman and chief monetary officer, frank Brod, chief accounting officer, John Seethoff, deputy regularly occurring information and corporate secretary, and Chris Suh, close supervisor of Investor family members, will host a conference designation and webcast at 2:30 p.m. Pacific time (5:30 p.m. japanese time) today to focus on details of the company’s efficiency for the quarter and inescapable forward-looking guidance. The session could breathe accessed at http://www.microsoft.com/en-us/investor. The webcast will breathe accessible for replay through the shut of company on April 27, 2018.

    “As Adjusted” monetary outcomes and non-GAAP Measures

    right through the third quarter of fiscal years 2017 and 2016, GAAP earnings, working salary, web profits, and diluted profits per partake encompass the web abide an impact on from home windows 10 earnings deferrals. This item is defined under. besides these fiscal effects pronounced based on GAAP, Microsoft has supplied inescapable non-GAAP fiscal guidance to assist investors in better understanding the enterprise’s efficiency. featuring these non-GAAP measures offers additional insight into operational efficiency and helps construct pellucid tendencies affecting the business’s enterprise. For comparability of reporting, administration considers this assistance together with GAAP amounts in evaluating commerce efficiency.

    net abide an impact on from home windows 10 salary Deferrals. With respect to their non-GAAP measures concerning windows 10 salary, they disagree with these measures bridge investor suggestions and minimize talents confusion during the brief length between the time windows 10 income focus moved from upfront to ratable, and the adoption of the new revenue usual, when home windows 10 will again breathe identified predominantly upfront. The internet alternate in home windows 10 income from duration to duration is indicative of the net change in revenue they are expecting from adoption of the new profits ordinary.

    Non-GAAP Definitions

    net impact from windows 10 salary Deferrals. Microsoft recorded internet revenue deferrals of $1.5 billion complete the pass through the third quarter of fiscal 12 months 2017 and internet revenue deferrals of $1.6 billion complete over the third quarter of fiscal 12 months 2016, regarding home windows 10.

    With the launch of home windows 10 in July 2015, windows 10 clients receive future types and updates at no further can charge. beneath present earnings consciousness accounting information, when standalone software is offered with future help rights, profits ought to breathe deferred over the life of the computing gadget on which it's achieve in. here's different from prior models of home windows, which abide been sold with out upgrade rights, where complete salary from fashioned machine brand (“OEM”) shoppers changed into diagnosed on the time of billing, i.e., upfront.

    When Microsoft adopts the new income normal, predominantly complete home windows OEM income could breathe identified at the time of billing, which is comparable to the earnings recognition for prior models of windows. additional info concerning the brand new revenue commonplace is supplied in the “recent Accounting suggestions now not Yet Adopted” component of Microsoft’s profile 10-Q for the quarter ended March 31, 2017 (Notes to fiscal Statements). Microsoft displays the consciousness of windows 10 salary at the time of billing in “As Adjusted (non-GAAP)” salary to give comparability prerogative through the brief term the space home windows 10 might breathe identified over the estimated life of a tool, i.e., ratably, instead of at the time of billing.

    constant alien money

    Microsoft gifts regular forex recommendation to provide a non-GAAP framework for assessing how their underlying agencies carried out except for the impact of international alien money charge fluctuations. To current this suggestions, latest and comparative prior term non-GAAP effects for entities reporting in currencies other than u.s. bucks are converted into u.s. bucks the expend of the common exchange rates from the comparative length instead of the actual exchange costs in consequence throughout the respective durations. The non-GAAP economic measures offered below may still now not breathe regarded as an alternative to, or sophisticated to, the measures of monetary efficiency prepared based on GAAP. complete boom comparisons relate to the corresponding length within the ultimate fiscal 12 months.

    economic efficiency constant forex Reconciliation

    Three Months Ended March 31,  ($ in tens of millions, apart from per partake quantities) earnings operating income web profits Diluted revenue per share2016 As mentioned (GAAP) $20,531 $5,283 $three,756 $0.47 2016 As Adjusted (non-GAAP) $22,156 $6,908 $5,038 $0.sixty three 2017 As pronounced (GAAP) $22,090 $5,594 $4,801 $0.61 2017 As Adjusted (non-GAAP) $23,557 $7,061 $5,715 $0.73 percentage trade Y/Y (GAAP) eight% 6% 28% 30% percent change Y/Y (non-GAAP) 6% 2% 13% sixteen% steady currency influence $(222) $(181) $(153) $(0.02) percentage change Y/Y (non-GAAP) constant alien money 7% 5% 16% 19%

    segment salary regular alien money Reconciliation

    Three Months Ended March 31,  ($ in tens of millions) productiveness and commerce strategies intelligent Cloud more very own Computing 2016 As suggested (GAAP) $6,521 $6,096 $9,539 2017 As stated (GAAP) $7,958 $6,763 $eight,836 percent exchange Y/Y (GAAP) 22% 11% (7)% steady forex impact $(82) $(74) $(sixty seven) percent change Y/Y (non-GAAP) constant alien money 23% 12% (7)%

    chosen Product and service income consistent forex Reconciliation       

    Three Months Ended March 31, percent exchange Y/Y (GAAP) regular alien money abide an consequence on percentage exchange Y/Y (non-GAAP) steady currency workplace commercial items and cloud facilities7% 1% 8% workplace 365 advertisement45% 0% 45% workplace purchaser items and cloud amenities15% (1)% 14% Dynamics items and cloud facilities10% 1% eleven% Dynamics 365 eighty one% 1% 82% Server items and cloud services15% 1% sixteen% Azure ninety three% 1% ninety four% enterprise functions (1)% 1% 0% home windows OEM 5% 0% 5% home windows commerce items and cloud services6% 0% 6% floor (26)% 1% (25)% Search promoting apart from site visitors acquisition expenses 8% 1% 9% Gaming four% 2% 6%

    business Cloud Annualized earnings Run fee

    business cloud annualized revenue Run cost is calculated by taking revenue in the remaining month of the quarter increased via twelve for workplace 365 business, Azure, Dynamics 365, and other cloud homes.

    About Microsoft

    Microsoft (Nasdaq “MSFT” @microsoft) is the main platform and productivity enterprise for the cell-first, cloud-first world and its mission is to empower every grownup and each organization on this planet to achieve extra.

    ahead-searching Statements

    Statements in this unlock which are “forward-looking statements” are according to current expectations and assumptions which are matter to hazards and uncertainties. specific outcomes may compass materially on account of elements similar to:

  • intense competition in complete of Microsoft’s markets;
  • increasing focus on capabilities items execution and competitive hazards;
  • enormous investments in new products and capabilities that may besides not breathe profitable;
  • acquisitions, joint ventures, and strategic alliances may abide an hostile impact on their business;
  • impairment of goodwill or amortizable intangible property causing a major permeate to salary;
  • Microsoft’s endured capability to give protection to and merit revenues from its highbrow property rights;
  • claims that Microsoft has infringed the intellectual property rights of others;
  • the opportunity of unauthorized disclosure of tremendous portions of Microsoft’s supply code;
  • cyber-assaults and protection vulnerabilities in Microsoft items and services that may reduce revenue or lead to liability;
  • disclosure of personal statistics that might trigger liability and distress to Microsoft’s popularity;
  • outages, information losses, and disruptions of their on-line features if they fail to maintain an enough operations infrastructure;
  • executive litigation and rules that might besides restrict how Microsoft designs and markets its items;
  • knowledge legal responsibility under change insurance policy and anti-corruption laws as a consequence of their overseas operations;
  • legal guidelines and laws relating to the handling of non-public information may additionally bog down the adoption of their capabilities or consequence in extended expenses, felony claims, or fines towards us;
  • Microsoft’s capability to attract and preserve expert employees;
  • hostile effects in criminal disputes;
  • unanticipated tax liabilities;
  • Microsoft’s hardware and application products may additionally adventure noteworthy or give complications;
  • publicity to increased monetary and operational uncertainties from working a worldwide business, including the consequences of overseas forex change;
  • catastrophic hobbies or geo-political circumstances may additionally disrupt their business; and
  • adversarial economic or market circumstances may additionally distress their company.
  • For more counsel about dangers and uncertainties linked to Microsoft’s company, gladden consult with the “administration’s discussion and evaluation of monetary condition and outcomes of Operations” and “chance elements” sections of Microsoft’s SEC filings, together with, but not limited to, its annual document on profile 10-okay and quarterly experiences on kindhearted 10-Q, copies of which can breathe got by using contacting Microsoft’s Investor family members department at (800) 285-7772 or at Microsoft’s Investor family members website at http://www.microsoft.com/en-us/investor.

    All assistance during this unencumber is as of April 27, 2017. The commerce undertakes no responsibility to update any forward-looking remark to conform the remark to actual consequences or alterations in the business’s expectations.

    observe to editors: For greater assistance, news and views from Microsoft, gladden argue with the Microsoft information headquarters at http://www.microsoft.com/information. web links, telephone numbers, and titles had been arrogate at time of ebook, however might besides on the grounds that abide changed. Shareholder and monetary assistance, as well as these days’s 2:30 p.m. Pacific time convention designation with buyers and analysts, is obtainable at http://www.microsoft.com/en-us/investor.


    Microsoft Vs. IBM: One pellucid Winner

    No consequence found, try new keyword!and a departure from IBM's historic acquisition philosophy of making tiny ... and respectable monetary flexibility in the future, earnings traders can seemingly are expecting even slower payout increase through at ...

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    Is Rykadan Capital Limited (HKG:2288) A Financially Sound Company?

    Investors are always looking for growth in small-cap stocks enjoy Rykadan Capital Limited (HKG:2288), with a market cap of HK$301m. However, an Important fact which most ignore is: how financially vigorous is the business? Since 2288 is loss-making prerogative now, it’s essential to evaluate the current condition of its operations and pathway to profitability. We'll gape at some basic checks that can profile a snapshot the company’s monetary strength. However, this is just a partial view of the stock, and I suggest you dig deeper yourself into 2288 here.

    Does 2288 relent Much Cash Relative To Its Debt?

    Over the past year, 2288 has ramped up its debt from HK$536m to HK$755m – this includes long-term debt. With this growth in debt, 2288's cash and short-term investments stands at HK$214m to retain the commerce going. Additionally, 2288 has produced HK$60m in operating cash rush over the selfsame time period, leading to an operating cash to total debt ratio of 8.0%, acceptation that 2288’s debt is not covered by operating cash.

    Can 2288 pay its short-term liabilities?

    At the current liabilities smooth of HK$1.2b, the company has maintained a safe smooth of current assets to meet its obligations, with the current ratio ultimate standing at 1.08x. The current ratio is calculated by dividing current assets by current liabilities. Usually, for existent Estate companies, this is a suitable ratio since there is a bit of a cash buffer without leaving too much capital in a low-return environment.

    SEHK:2288 Historical Debt, April 23rd 2019

    More Does 2288 mug the risk of succumbing to its debt-load?

    2288 is a relatively highly levered company with a debt-to-equity of 68%. This is significantly unusual for small-caps companies, since lenders are often hesitant to provide attractive interest rates to less-established businesses. But since 2288 is presently loss-making, there’s a question of sustainability of its current operations. Maintaining a lofty smooth of debt, while revenues are still below costs, can breathe hazardous as liquidity tends to dehydrate up in unexpected downturns.

    Next Steps:

    Although 2288’s debt smooth is towards the higher conclude of the spectrum, its cash rush coverage seems adequate to meet obligations which means its debt is being efficiently utilised. This may denote this is an optimal capital structure for the business, given that it is besides meeting its short-term commitment. retain in intellect I haven't considered other factors such as how 2288 has been performing in the past. I suggest you continue to research Rykadan Capital to find a better picture of the small-cap by looking at:

  • Valuation: What is 2288 worth today? Is the stock undervalued, even when its growth outlook is factored into its intrinsic value? The intrinsic value infographic in their free research report helps visualize whether 2288 is currently mispriced by the market.
  • Historical Performance: What has 2288's returns been enjoy over the past? proceed into more detail in the past track record analysis and grasp a gape at the free visual representations of their analysis for more clarity.
  • Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore their free list of these noteworthy stocks here.
  • We smooth to bring you long-term focused research analysis driven by fundamental data. Note that their analysis may not factor in the latest price-sensitive company announcements or qualitative material.

    If you spot an mistake that warrants correction, gladden contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not grasp account of your objectives, or your monetary situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.


    Pacific Premier Bancorp, Inc. Announces First Quarter 2019 Results (Unaudited) and a Quarterly Cash Dividend of $0.22 Per Share

    Pacific Premier Bancorp, Inc. PPBI, -2.45% (the “Company”), the holding company of Pacific Premier Bank (the “Bank”), reported net income for the first quarter of 2019 of $38.7 million, or $0.62 per diluted share, compared with net income of $39.6 million, or $0.63 per diluted share, for the fourth quarter of 2018 and net income of $28.0 million, or $0.60 per diluted share, for the first quarter of 2018. monetary results for the first quarter of 2019 embrace merger-related expense of $655,000.

    For the three months ended March31, 2019, the Company’s return on middling assets (“ROAA”) was 1.34%, return on middling equity (“ROAE”) was 7.78% and return on middling tangible common equity (“ROATCE”) was 15.45%, compared to 1.37%, 8.15% and 16.65%, respectively, for the three months ended December31, 2018 and 1.39%, 8.92% and 16.51%, respectively, for the three months ended March31, 2018. Total assets as of March31, 2019 were $11.6 billion compared with $11.5 billion at December31, 2018 and $8.1 billion at March31, 2018. A reconciliation of the non–U.S. GAAP measure of ROATCE to the U.S. GAAP measure of common stockholders equity is set forth at the conclude of this press release.

    Steven R. Gardner, Chairman, President and Chief Executive Officer of the Company, commented, “We delivered another solid quarter of operating results that reflects the power of the organization that they abide built over the past few years. Their skill to generate lofty levels of profitability, including an ROAA of 1.34% and an ROATCE of 15.45% while besides maintaining stalwart credit metrics is a testament to the talent and discipline of their employees. Given the power of their performance, the Company's board of directors has authorized and declared a $0.22 per partake dividend payable on May 15, 2019.

    “We abide been focused on continuous improvement throughout the organization and they are seeing the benefits created from the Grandpoint acquisition. Further, they abide consolidated 5 branches in the past two quarters while maintaining their lofty smooth of service to clients. Their efficiency ratio was again below 50% during the first quarter of 2019 and they hope operating leverage to further help in the coming quarters.

    “Our disciplined balance sheet and risk management continue to result in a relatively stable core net interest margin and solid asset quality. Looking ahead, they will remain focused on closely matching their loan and deposit growth, while emphasizing loan production in the areas that relent attractive risk-adjusted yields. They hope balance sheet growth to accelerate as they gallivant through the year owing to key investments in technology around API banking, Salesforce and cash management services,” said Mr. Gardner.

    FINANCIAL HIGHLIGHTS

    Three Months Ended March 31, December 31, March 31, 2019 2018 2018 Financial Highlights (dollars in thousands, except per partake data) Net income $ 38,718 $ 39,643 $ 28,002 Diluted earnings per share 0.62 0.63 0.60 Return on middling assets 1.34 % 1.37 % 1.39 % Return on middling equity 7.78 8.15 8.92 Return on middling tangible common equity [(1)] 15.45 16.65 16.51 Net interest margin 4.37 4.49 4.50 Core net interest margin 4.21 4.24 4.26 Cost of deposits 0.63 0.55 0.39 Efficiency ratio [(2)] 49.3 48.3 52.4 Total assets $ 11,580,495 $ 11,487,387 $ 8,086,816 Total deposits 8,715,175 8,658,351 6,192,273 Core deposits to total deposits [(3)] 88 % 89 % 88 % Book value per share $ 31.97 $ 31.52 $ 27.12 Tangible reserve value per partake [(1)] 17.56 16.97 15.63 Total risk-based capital ratio 12.58 % 12.39 % 12.64 % [(1)] A reconciliation of the non-U.S. GAAP measures of middling tangible common equity and tangible reserve value per partake to the U.S. GAAP measures of common stockholders' equity and reserve value are set forth at the conclude of this press release. [(2)] Represents the ratio of noninterest expense less other existent estate owned operations, core deposit intangible amortization and merger-related expense to the sum of net interest income before provision for credit losses and total noninterest income, less gains/(loss) on sale of securities, other-than-temporary impairment recovery/(loss) on investment securities and gain/(loss) from other existent estate owned. [(3)] Core deposits are complete transaction accounts and non-brokered certificates of deposit less than $250,000.

    INCOME STATEMENT HIGHLIGHTS

    Net Interest Income and Net Interest Margin

    Net interest income totaled $111.4 million in the first quarter of 2019, a diminish of $6.1 million, or 5.2%, from the fourth quarter of 2018. The diminish in net interest income reflected the impact of two fewer days of interest in the first quarter of 2019 compared to fourth quarter of 2018, lower accretion income as well as higher funding costs.

    Net interest margin for the first quarter was 4.37%, compared with 4.49% in the prior quarter. The diminish was primarily driven by lower accretion income of $3.8 million in the first quarter of 2019 compared to $6.3 million in the fourth quarter of 2018. Their core net interest margin, which excludes the impact of accretion, decreased 3 basis points to 4.21%, compared to 4.24% in the prior quarter. The diminish in the core net interest margin was attributable to higher cost of funds, partially offset by a higher core yields on interest-earning assets, which excludes the impact of accretion. Cost of deposits increased 8 basis point to 0.63% during the quarter.

    We anticipate their core net interest margin will breathe in the compass of 4.15% to 4.20% in the second quarter of 2019.

    Net interest income for the first quarter of 2019 increased $30.1 million, or 37.1%, compared to the first quarter of 2018. The increase was primarily related to an increase in middling interest-earning assets of $3.01 billion, which resulted primarily from their acquisition of Grandpoint in the third quarter of 2018, as well as organic loan growth since the conclude of the first quarter of 2018.

    PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED middling BALANCES AND relent DATA Three Months Ended March 31, 2019 December 31, 2018 March 31, 2018

    AverageBalance

    InterestIncome/Expense

    Average

    Yield/

    Cost

    AverageBalance

    InterestIncome/Expense

    AverageYield/Cost

    AverageBalance

    InterestIncome/Expense

    AverageYield/Cost

    Assets (dollars in thousands) Cash and cash equivalents $ 173,613 $ 378 0.88 % $ 230,377 $ 634 1.09 % $ 167,236 $ 313 0.76 % Investment securities 1,298,476 9,389 2.89 1,243,240 9,046 2.91 919,526 6,341 2.76 Loans receivable, net [(1) (2)] 8,867,159 121,476 5.56 8,909,407 126,341 5.63 6,237,968 84,173 5.47 Total interest-earning assets $ 10,339,248 $ 131,243 5.15 $ 10,383,024 $ 136,021 5.20 $ 7,324,730 $ 90,827 5.03 Liabilities Interest-bearing deposits $ 5,073,723 $ 13,284 1.06 $ 5,065,505 $ 12,041 0.94 $ 3,852,853 $ 5,914 0.62 Borrowings 880,671 6,553 3.02 905,300 6,434 2.82 613,295 3,632 2.40 Total interest-bearing liabilities $ 5,954,394 $ 19,837 1.35 $ 5,970,805 $ 18,475 1.23 $ 4,466,148 $ 9,546 0.87 Noninterest-bearing deposits $ 3,480,791 $ 3,571,119 $ 2,262,895 Net interest income $ 111,406 $ 117,546 $ 81,281 Net interest margin [(3)] 4.37 4.49 4.50 Cost of deposits 0.63 0.55 0.39 Cost of funds [(4)] 0.85 0.77 0.58 [(1)] middling balance includes loans held for sale and nonperforming loans and is net of deferred loan origination fees/costs and discounts/premiums. [(2)] Interest income includes net discount accretion of $3.8 million, $6.3 million and $3.7 million, respectively. [(3)] Represents annualized net interest income divided by middling interest-earning assets. [(4)] Represents annualized total interest expense divided by the sum of middling total interest-bearing liabilities and noninterest-bearing deposits.

    Provision for Credit Losses

    A provision for credit losses of $1.5 million was recorded for the first quarter of 2019, compared with a provision for credit losses of $2.3 million for the fourth quarter of 2018. The first quarter of 2019 provision for credit losses includes a $486,000 reduction in reserve for unfunded commitments primarily due to lower attributable loan commitments and loss rates. The prior quarter, comparably, included a $580,000 reduction in reserve for unfunded commitments. Net charge-offs were $228,000 in the first quarter of 2019 compared to $138,000 in the fourth quarter of 2018.

    Noninterest Income

    Noninterest income for the first quarter of 2019 was $7.7 million, an increase of $711,000, or 10.2%, from the fourth quarter of 2018. The increase from the fourth quarter of 2018 was primarily due to a $427,000 increase in net gain from sales of investment securities, a $516,000 increase in other income and a $200,000 diminish in net gain from the sales of loans. The increase in other income included a conducive impress of $612,000 in Community Reinvestment Act (“CRA”) related equity investments, compared to a loss of $148,000 in the prior quarter, and $292,000 in recoveries of pre-acquisition charged-off loans, compared to recoveries of $176,000 in prior quarter.

    During the first quarter of 2019, the Bank sold $25.5 million of tiny commerce Administration (“SBA”) loans for a net gain of $1.7 million, compared with the sale of $26.1 million of SBA loans for a net gain of $1.6 million during the prior quarter. The prior quarter besides included the sale of $163.2 million of non-SBA loans for a net gain of $320,000.

    We anticipate their noninterest income will compass from $6.5 million to $7.0 million for the second quarter of 2019 based upon current SBA loan sale gain rates and normal, recurring commerce activities.

    Noninterest income for the first quarter of 2019 increased $15,000, or 0.2%, compared to the first quarter of 2018. The increase from the first quarter of 2018 was primarily related to a $421,000 increase in net gain from sale of investment securities, a $299,000 increase in earnings on bank-owned life insurance (“BOLI”), a $210,000 increase in other service fee income and a $180,000 increase in service charges on deposit accounts, partially offset by a $1.2 million diminish in net gain from sales of loans.

    Three Months Ended March 31, December 31, March 31, 2019 2018 2018 NONINTEREST INCOME (dollars in thousands) Loan servicing fees $ 398 $ 408 $ 345 Service charges on deposit accounts 1,330 1,351 1,150 Other service fee income 356 270 146 Debit card interchange fee income 1,071 1,139 1,036 Earnings on BOLI 910 929 611 Net gain from sales of loans 1,729 1,929 2,958 Net gain from sales of investment securities 427 — 6 Other income 1,460 944 1,414 Total noninterest income $ 7,681 $ 6,970 $ 7,666

    Noninterest Expense

    Noninterest expense totaled $63.6 million for the first quarter of 2019, a diminish of $3.7 million, or 5.4%, compared with the fourth quarter of 2018. The diminish was driven primarily by merger-related expense of $655,000 in the first quarter of 2019 compared with $2.6 million in the fourth quarter of 2018. Excluding merger-related expense, noninterest expense decreased $1.7 million to $62.9 million, primarily due to a full quarter's realization of cost savings attributable to the acquisition of Grandpoint. Compensation and benefits were besides favorably impacted overall by lower staffing and incentives.

    The Company anticipates that total operating expense will compass from $64.0 million to $65.0 million for the second quarter of 2019.

    Noninterest expense grew by $13.8 million, or 27.6% compared to the first quarter of 2018. The increase was primarily related to the additional costs from operations, personnel and branches retained from the acquisition of Grandpoint, core deposit intangible (“CDI”) amortization expense, combined with their continued investment in personnel to back their organic growth in loans and deposits, partially offset by the reduction in merger-related expense.

    Three Months Ended March 31, December 31, March 31, 2019 2018 2018 NONINTEREST EXPENSE (dollars in thousands) Compensation and benefits $ 33,388 $ 33,838 $ 28,873 Premises and occupancy 7,535 7,504 4,781 Data processing 2,930 3,868 2,702 Other existent estate owned operations, net 3 1 1 FDIC insurance premiums 800 750 611 Legal, audit and professional expense 2,998 3,105 1,839 Marketing expense 1,497 1,700 1,530 Office, telecommunications and postage expense 1,210 1,579 1,080 Loan expense 873 1,046 591 Deposit expense 3,583 3,105 1,676 Merger-related expense 655 2,597 936 CDI amortization 4,436 4,631 2,274 Other expense 3,669 3,515 2,914 Total noninterest expense $ 63,577 $ 67,239 $ 49,808

    Income Tax

    For the first quarter of 2019, their efficient tax rate was 28.3%, compared with 27.9% for the fourth quarter of 2018 and 24.1% for the first quarter of 2018. The slight increase in the efficient tax rate for the first quarter of 2019 was primarily the result of a reduced tax benefit from stock-based compensation.

    The Company expects their 2019 annual efficient tax rate to breathe in the compass of 27% to 28%.

    The increase in the efficient tax rate for the first quarter of 2019, compared to the first quarter of 2018, was primarily the result of $1.4 million reduced tax benefit from stock-based compensation.

    BALANCE SHEET HIGHLIGHTS

    Loans

    Loans held for investment totaled $8.87 billion at March31, 2019, an increase of $29.0 million, or 0.3%, from December31, 2018, and an increase of $2.62 billion, or 42.0%, from March31, 2018. The increase compared to the fourth quarter of 2018 was impacted by organic loan growth, partially offset by lower loan repayments and lower line utilization during the first quarter of 2019. The increase compared to the first quarter of 2018 was impacted by both organic loan growth and by the acquisition of Grandpoint, the latter of which added $2.4 billion of loans before impartial value adjustments in the third quarter of 2018.

    During the first quarter of 2019, the Bank generated $549.7 million of new loan commitments and $391.8 million of new loan fundings, compared with $730.0 million in new loan commitments and $531.5 million in new loan fundings for the fourth quarter of 2018 and $488.0 million in new loan commitments and $293.1 million in new loan fundings for the first quarter of 2018. The Bank experienced lower loan prepayments of $279.2 million in the first quarter of 2019 compared with $407.6 million in the prior quarter. The Bank besides sold $25.5 million in loans in the first quarter compared with $189.3 million in the prior quarter, which included $26.1 million of SBA loans.

    At March31, 2019, the ratio of loans held for investment to total deposits was 101.7%, compared with 102.1% and 100.8% at December31, 2018 and March31, 2018, respectively.

    The following table presents the composition of the loan portfolio for the term indicated:

    March 31, December 31, March 31, 2019 2018 2018 (dollars in thousands) Business loans: Commercial and industrial $ 1,336,520 $ 1,364,423 $ 1,062,385 Franchise 813,057 765,416 692,846 Commercial owner occupied 1,648,762 1,679,122 1,268,869 SBA 188,757 193,882 182,626 Agribusiness 134,603 138,519 149,256 Total commerce loans 4,121,699 4,141,362 3,355,982 Real estate loans: Commercial non-owner occupied 2,124,250 2,003,174 1,227,693 Multi-family 1,511,942 1,535,289 817,963 One-to-four family 279,467 356,264 266,324 Construction 538,197 523,643 319,610 Farmland 167,345 150,502 136,522 Land 46,848 46,628 34,452 Total existent estate loans 4,668,049 4,615,500 2,802,564 Consumer loans: Consumer loans 85,302 89,424 86,206 Gross loans held for investment 8,875,050 8,846,286 6,244,752 Deferred loan origination costs/(fees) and premiums/(discounts), net (9,195 ) (9,468 ) (2,911 ) Loans held for investment 8,865,855 8,836,818 6,241,841 Allowance for loan losses (37,856 ) (36,072 ) (30,502 ) Loans held for investment, net $ 8,827,999 $ 8,800,746 $ 6,211,339 Loans held for sale, at lower of cost or impartial value $ 11,671 $ 5,719 $ 29,034

    The total end-of-period weighted middling interest rate on loans, excluding fees and discounts, at March31, 2019 was 5.13%, compared to 5.13% at December31, 2018 and 5.04% at March31, 2018. The quarter-over- quarter comparison is unchanged, while the year-over-year increase reflects the impact of higher rates on new loan originations as well as the conducive repricing of loans as a result of the 2018 Federal Reserve Bank fed funds rate increases, partially offset by the lower yields associated with the Grandpoint acquisition.

    The following table presents the composition of the organic loan commitments originated during the term indicated:

    March 31, December 31, March 31, 2019 2018 2018 (dollars in thousands) Business loans: Commercial and industrial $ 112,074 $ 141,837 $ 126,513 Franchise 86,356 82,013 52,260 Commercial owner occupied 39,049 64,349 46,956 SBA 41,963 26,884 38,972 Agribusiness 13,388 6,525 32,234 Total commerce loans 292,830 321,608 296,935 Real estate loans: Commercial non-owner occupied 114,809 196,779 18,217 Multi-family 30,991 73,454 45,225 One-to-four family 14,689 13,029 9,271 Construction 74,203 85,327 111,673 Farmland 17,250 14,588 590 Land 4,050 4,229 5,825 Total existent estate loans 255,992 387,406 190,801 Consumer loans: Consumer loans 840 20,938 271 Total loan commitments $ 549,662 $ 729,952 $ 488,007

    The weighted middling rate on new loan production was 5.67% in the first quarter of 2019 compared with 5.35% in the fourth quarter of 2018 and 5.27% in the first quarter of 2018.

    Asset attribute and Allowance for Loan and Lease Losses

    At March31, 2019, their allowance for loan and lease losses was $37.9 million, an increase of $1.8 million from December31, 2018. The provision for loan losses for the first quarter of 2019 was $2.0 million, while net charge-offs were $228,000.

    The ratio of allowance for loan losses to loans held for investment at March31, 2019 amounted to 0.43%, compared to 0.41% and 0.49% at December31, 2018 and March31, 2018, respectively. Under the guidance of ASC 820: impartial Value Measurements and Disclosures, the impartial value net discount on loans acquired through total bank acquisitions was $57.2 million, or 0.65% of total loans held for investment as of March31, 2019, compared to $61.0 million, or 0.69% of total loans held for investment as of December31, 2018.

    Nonperforming assets totaled $13.1 million, or 0.11% of total assets, at March31, 2019, an increase of $8.0 million from December31, 2018. During the first quarter of 2019, nonperforming loans increased $8.0 million to $12.9 million and other existent estate owned increased $33,000 to $180,000, while other assets owned remained unchanged at $13,000. Loan delinquencies were $15.8 million, or 0.18% of loans held for investment, at March31, 2019, compared to $12.9 million, or 0.15% of loans held for investment, at December31, 2018.

    The increase in nonperforming assets during the first quarter of 2019 was primarily attributable to the downgrade of one franchise loan, for which the Company has established a $1.6 million specific reserve.

    March 31, December 31, March 31, 2019 2018 2018 Asset Quality (dollars in thousands) Nonperforming loans $ 12,858 $ 4,857 $ 8,149 Other existent estate owned 180 147 206 Other assets owned 13 13 233 Nonperforming assets $ 13,051 $ 5,017 $ 8,588 Allowance for loan losses $ 37,856 $ 36,072 $ 30,502 Allowance for loan losses as a percent of total nonperforming loans 294 % 743 % 374 % Nonperforming loans as a percent of loans held for investment 0.15 0.05 0.13 Nonperforming assets as a percent of total assets 0.11 0.04 0.11 Net loan charge-offs/(recoveries) for the quarter ended $ 228 $ 138 $ 687 Net loan charge-offs for quarter to middling total loans [(1)] — % — % 0.01 % Allowance for loan losses to loans held for investment [(2)] 0.43 0.41 0.49 Delinquent Loans 30 - 59 days $ 2,299 $ 7,047 $ 6,605 60 - 89 days 1,982 1,242 1,084 90+ days 11,481 4,564 5,065 Total delinquency $ 15,762 $ 12,853 $ 12,754 Delinquency as a percentage of loans held for investment 0.18 % 0.15 % 0.20 % [(1)] The ratios are less than 0.01% as of March 31, 2019 and December 31, 2018. [(2)] 47% of loans held for investment embrace a impartial value net discount of $57.2 million.

    Investment Securities

    Investments securities available-for-sale totaled $1.22 billion at March31, 2019, an increase of $66.9 million, or 5.8%, from December31, 2018, and $327.5 million, or 36.9%, from March31, 2018. The increase in the first quarter of 2019 compared to prior quarter was primarily the result of $252.5 million in purchases and mark-to-market impartial value adjustment increases of $15.0 million, partially offset by $169.5 million in sales and $31.2 million in principal payments, amortization and redemptions. The increase compared to the selfsame term ultimate year was primarily the result of $392.9 million of investment securities from the acquisition of Grandpoint.

    Deposits

    At March31, 2019, deposits totaled $8.72 billion, an increase of $56.8 million, or 0.7%, from December31, 2018 and $2.52 billion, or 40.7%, from March31, 2018. At March31, 2019, non-maturity deposits totaled $7.12 billion, or 81.7% of total deposits, a diminish of $124.6 million, or 1.7%, from December31, 2018 and an increase of $2.05 billion, or 40.4%, from March31, 2018. During the first quarter of 2019, deposit increases included $34.2 million in interest checking and $183.0 million in brokered certificates of deposit, partially offset by decreases of $87.0 million in money market/savings deposits and $71.8 million in noninterest-bearing deposits. During the first quarter of 2019, the Bank added brokered certificates of deposits as rates moved favorably to these funding sources compared with higher cost, overnight borrowing rates.

    The weighted middling cost of deposits for the three-month term ending March31, 2019 was 0.63%, compared to 0.55% for the three-month term ending December31, 2018, and 0.39% for the three-month term ending March31, 2018. The increase in the weighted middling cost of deposits in the first quarter of 2019 compared to the prior quarter was primarily driven by higher rates in retail and brokered certificates of deposits and, to a lesser extent, money market accounts.

    March 31, December 31, March 31, 2019 2018 2018 Deposit Accounts (dollars in thousands) Noninterest-bearing checking $ 3,423,893 $ 3,495,737 $ 2,312,586 Interest-bearing: Checking 560,274 526,088 355,895 Money market/savings 3,138,875 3,225,849 2,405,869 Retail certificates of deposit 1,007,559 1,009,066 744,214 Wholesale/brokered certificates of deposit 584,574 401,611 373,709 Total interest-bearing 5,291,282 5,162,614 3,879,687 Total deposits $ 8,715,175 $ 8,658,351 $ 6,192,273 Cost of deposits 0.63 % 0.55 % 0.39 % Noninterest-bearing deposits as a percent of total deposits 39 40 37 Non-maturity deposits as a percent of total deposits 82 84 82

    Borrowings

    At March31, 2019, total borrowings amounted to $720.0 million, a diminish of $58.0 million, or 7.5%, from December31, 2018 and an increase of $131.3 million, or 22.3%, from March31, 2018. Total borrowings for the quarter included $609.6 million of advances from the Federal Home Loan Bank of San Francisco ("FHLB") and $110.4 million of subordinated debt. At March31, 2019, total borrowings represented 6.2% of total assets, compared to 6.8% and 7.3%, as of December31, 2018 and March31, 2018, respectively.

    Capital Ratios

    At March31, 2019, their ratio of tangible common equity to total assets was 10.32%, compared with 10.02% at December31, 2018, and 9.63% at March31, 2018, with a tangible reserve value per partake of $17.56, compared with $16.97 at December31, 2018 and $15.63 at March31, 2018.

    At March31, 2019, the Company had a tier 1 leverage ratio of 10.69%, common equity tier 1 capital ratio of 11.08%, tier 1 capital ratio of 11.32% and total capital ratio of 12.58%.

    At March31, 2019, the Bank exceeded complete regulatory capital requirements with a tier 1 leverage ratio of 11.39%, common equity tier 1 capital ratio of 12.07%, tier 1 capital ratio of 12.07% and total capital ratio of 12.49%. These capital ratios each exceeded the “well capitalized” standards defined by the federal banking regulators of 5.00% for tier 1 leverage ratio, 6.5% for common equity tier 1 capital ratio, 8.00% for tier 1 capital ratio and 10.00% for total capital ratio.

    March 31, December 31, March 31, Capital Ratios 2019 2018 2018 Pacific Premier Bancorp, Inc. Consolidated Tier 1 leverage ratio 10.69 % 10.38 % 10.10 % Common equity tier 1 capital ratio 11.08 10.88 10.67 Tier 1 capital ratio 11.32 11.13 10.96 Total capital ratio 12.58 12.39 12.64 Tangible common equity ratio [(1)] 10.32 10.02 9.63 Pacific Premier Bank Tier 1 leverage ratio 11.39 % 11.06 % 11.00 % Common equity tier 1 capital ratio 12.07 11.87 11.93 Tier 1 capital ratio 12.07 11.87 11.93 Total capital ratio 12.49 12.28 12.39 Share Data Book value per share $ 31.97 $ 31.52 $ 27.12 Tangible reserve value per partake [(1)] 17.56 16.97 15.63 Closing stock charge [(2)] 26.53 25.52 40.20 Shares issued and outstanding 62,773,299 62,480,755 46,527,566 Market Capitalization [(3)] $ 1,665,376 $ 1,594,509 $ 1,870,408 [(1)] A reconciliation of the non-U.S. GAAP measures of tangible common equity and tangible reserve value per partake to the U.S. GAAP measures of common stockholders' equity and reserve value per partake is set forth below. [(2)] As of the ultimate trading day prior to term end. [(3)] Dollars in thousands.

    Dividend and Stock Repurchase Program

    On April 19, 2019, the Company's Board of Directors declared a $0.22 per partake dividend, payable on May 15, 2019 to stockholders of record on May 1, 2019. The Company did not repurchase any shares under the recently approved stock repurchase program, which authorized the repurchase of up to $100 million of its common stock.

    Conference muster and Webcast

    The Company will host a conference muster at 9:00 a.m. PT / 12:00 p.m. ET on April23, 2019 to argue its monetary results. Analysts and investors may participate in the question-and-answer session. A live webcast will breathe available on the Webcasts page of the Company's investor relations website. An archived version of the webcast will breathe available in the selfsame location shortly after the live muster has ended. The conference muster can breathe accessed by telephone at (866) 290-5977 and asking to breathe joined to the Pacific Premier Bancorp conference call. Additionally, a telephone replay will breathe made available through April 30, 2019 at (877) 344-7529, conference ID 10130038.

    About Pacific Premier Bancorp, Inc.

    Pacific Premier Bancorp, Inc. is the holding company for Pacific Premier Bank, one of the largest banks headquartered in Southern California with approximately $11.6 billion in assets. Pacific Premier Bank is a commerce bank primarily focused on serving tiny and middle market businesses in the counties of Orange, Los Angeles, Riverside, San Bernardino, San Diego, San Luis Obispo and Santa Barbara, California, as well as markets in the states of Arizona, Nevada and Washington. Through its more than 40 depository branches, Pacific Premier Bank offers a diverse compass of lending products including commercial, commercial existent estate, construction, and SBA loans, as well as specialty banking products for homeowners associations and franchise lending nationwide.

    FORWARD-LOOKING COMMENTS

    The statements contained herein that are not historical facts are forward-looking statements based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company including, without limitation, plans, strategies and goals, and statements about the Company’s expectations regarding revenue and asset growth, monetary performance and profitability, loan and deposit growth, yields and returns, loan diversification and credit management, stockholder value creation, tax rates and the impact of the acquisition of Grandpoint and other acquisitions.

    Such statements involve inherent risks and uncertainties, many of which are difficult to forecast and are generally beyond the control of the Company. There can breathe no assurance that future developments affecting the Company will breathe the selfsame as those anticipated by management. The Company cautions readers that a number of Important factors could occasions actual results to vary materially from those expressed in, or implied or projected by, such forward-looking statements. These risks and uncertainties include, but re not limited to, the following: the power of the United States economy in general and the power of the local economies in which they conduct operations; the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; inflation/deflation, interest rate, market and monetary fluctuations; the consequence of acquisitions they may make, such as their recent acquisition of Grandpoint Capital Inc., including, without limitation, the failure to achieve the expected revenue growth and/or expense savings from such acquisitions, and/or the failure to effectively integrate an acquisition target into their operations; the timely development of competitive new products and services and the acceptance of these products and services by new and existing customers; the impact of changes in monetary services policies, laws and regulations, including those concerning taxes, banking, securities and insurance, and the application thereof by regulatory bodies; the effectiveness of their risk management framework and quantitative models; changes in the smooth of their nonperforming assets and charge-offs; The consequence of changes in accounting policies and practices, as may breathe adopted from time-to-time by bank regulatory agencies, the U.S. Securities and Exchange Commission (“SEC”), the Public Company Accounting Oversight Board, the monetary Accounting Standards Board or other accounting standards setters; practicable other-than-temporary impairments of securities held by us; the impact of current governmental efforts to restructure the U.S. monetary regulatory system, including any amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act; changes in consumer spending, borrowing and savings habits; the effects of their lack of a diversified loan portfolio, including the risks of geographic and industry concentrations; their skill to attract deposits and other sources of liquidity; the possibility that they may reduce or discontinue the payments of dividends on common stock; changes in the monetary performance and/or condition of their borrowers; changes in the competitive environment among monetary and bank holding companies and other monetary service providers; geopolitical conditions, including acts or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism and/or military conflicts, which could impact commerce and economic conditions in the United States and abroad; cybersecurity threats and the cost of defending against them, including the costs of compliance with potential legislation to combat cybersecurity at a state, national or global level; unanticipated regulatory or legal proceedings; and their skill to manage the risks involved in the foregoing. Additional factors that could occasions actual results to vary materially from those expressed in the forward-looking statements are discussed in the 2018 Annual Report on profile 10-K of Pacific Premier Bancorp, Inc. filed with the SEC and available at the SEC’s Internet site (http://www.sec.gov).

    Pacific Premier undertakes no responsibility to revise or publicly release any revision or update to these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.

    PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF monetary CONDITION (dollars in thousands) (Unaudited) March 31, December 31, September 30, June 30, March 31, ASSETS 2019 2018 2018 2018 2018 Cash and due from banks $ 122,947 $ 125,036 $ 151,983 $ 96,224 $ 110,480 Interest-bearing deposits with monetary institutions 55,435 78,370 111,229 35,244 15,576 Cash and cash equivalents 178,382 203,406 263,212 131,468 126,056 Interest-bearing time deposits with monetary institutions 5,896 6,143 6,386 6,633 6,633 Investments held-to-maturity, at amortized cost 43,894 45,210 46,385 31,965 24,559 Investment securities available-for-sale, at impartial value 1,171,410 1,103,222 1,054,877 874,700 863,243 FHLB, FRB and other stock, at cost 94,751 94,918 98,779 69,663 69,567 Loans held for sale, at lower of cost or impartial value 11,671 5,719 52,880 13,879 29,034 Loans held for investment 8,865,855 8,836,818 8,759,204 6,277,586 6,241,841 Allowance for loan losses (37,856 ) (36,072 ) (33,306 ) (31,747 ) (30,502 ) Loans held for investment, net 8,827,999 8,800,746 8,725,898 6,245,839 6,211,339 Accrued interest receivable 40,302 37,837 37,683 27,420 27,073 Other existent estate owned 180 147 356 220 206 Premises and equipment 61,523 64,691 66,103 54,049 53,146 Deferred income taxes, net 9,275 15,627 26,848 17,183 13,941 Bank owned life insurance 111,400 110,871 110,354 76,937 76,454 Intangible assets 96,120 100,556 105,187 37,938 40,740 Goodwill 808,726 808,726 807,892 494,672 493,785 Other assets 118,966 89,568 101,041 75,565 51,040 Total assets $ 11,580,495 $ 11,487,387 $ 11,503,881 $ 8,158,131 $ 8,086,816 LIABILITIES AND STOCKHOLDERS’ EQUITY LIABILITIES: Deposit accounts: Noninterest-bearing checking $ 3,423,893 $ 3,495,737 $ 3,434,674 $ 2,349,464 $ 2,312,586 Interest-bearing: Checking 560,274 526,088 495,483 342,986 355,895 Money market/savings 3,138,875 3,225,849 3,261,544 2,446,849 2,405,869 Retail certificates of deposit 1,007,559 1,009,066 1,045,334 823,425 744,214 Wholesale/brokered certificates of deposit 584,574 401,611 265,110 345,626 373,709 Total interest-bearing 5,291,282 5,162,614 5,067,471 3,958,886 3,879,687 Total deposits 8,715,175 8,658,351 8,502,145 6,308,350 6,192,273 FHLB advances and other borrowings 609,591 667,681 861,972 379,100 483,525 Subordinated debentures 110,381 110,313 110,244 105,253 105,188 Accrued expenses and other liabilities 138,284 81,345 113,143 76,903 43,922 Total liabilities 9,573,431 9,517,690 9,587,504 6,869,606 6,824,908 STOCKHOLDERS’ EQUITY: Common stock 617 617 617 459 472 Additional paid-in capital 1,676,024 1,674,274 1,671,673 1,067,907 1,065,218 Retained earnings 325,363 300,407 260,764 232,372 205,069 Accumulated other comprehensive (loss) income 5,060 (5,601 ) (16,677 ) (12,213 ) (8,851 ) Total stockholders' equity 2,007,064 1,969,697 1,916,377 1,288,525 1,261,908 Total liabilities and stockholders' equity $ 11,580,495 $ 11,487,387 $ 11,503,881 $ 8,158,131 $ 8,086,816 PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (dollars in thousands, except per partake data) (Unaudited) Three Months Ended March 31, December 31, March 31, 2019 2018 2018 INTEREST INCOME Loans $ 121,476 $ 126,341 $ 84,173 Investment securities and other interest-earning assets 9,767 9,680 6,654

    Total interest income

    131,243 136,021 90,827 INTEREST EXPENSE Deposits 13,284 12,041 5,914 FHLB advances and other borrowings 4,802 4,701 2,023 Subordinated debentures 1,751 1,733 1,609 Total interest expense 19,837 18,475 9,546 Net interest income before provision for credit losses 111,406 117,546 81,281 Provision for credit losses 1,526 2,258 2,253 Net interest income after provision for credit losses 109,880 115,288 79,028 NONINTEREST INCOME Loan servicing fees 398 408 345 Service charges on deposit accounts 1,330 1,351 1,150 Other service fee income 356 270 146 Debit card interchange fee income 1,071 1,139 1,036 Earnings on BOLI 910 929 611 Net gain from sales of loans 1,729 1,929 2,958 Net gain from sales of investment securities 427 — 6 Other income 1,460 944 1,414 Total noninterest income 7,681 6,970 7,666 NONINTEREST EXPENSE Compensation and benefits 33,388 33,838 28,873 Premises and occupancy 7,535 7,504 4,781 Data processing 2,930 3,868 2,702 Other existent estate owned operations, net 3 1 1 FDIC insurance premiums 800 750 611 Legal, audit and professional expense 2,998 3,105 1,839 Marketing expense 1,497 1,700 1,530 Office, telecommunications and postage expense 1,210 1,579 1,080 Loan expense 873 1,046 591 Deposit expense 3,583 3,105 1,676 Merger-related expense 655 2,597 936 CDI amortization 4,436 4,631 2,274 Other expense 3,669 3,515 2,914 Total noninterest expense 63,577 67,239 49,808 Net income before income taxes 53,984 55,019 36,886 Income tax 15,266 15,376 8,884 Net income $ 38,718 $ 39,643 $ 28,002 EARNINGS PER SHARE Basic $ 0.62 $ 0.64 $ 0.61 Diluted $ 0.62 $ 0.63 $ 0.60 WEIGHTED middling SHARES OUTSTANDING Basic 61,987,605 61,917,184 45,893,496 Diluted 62,285,783 62,457,100 46,652,059

    SELECTED monetary DATA

    PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED middling BALANCES AND relent DATA Three Months Ended March 31, 2019 December 31, 2018 March 31, 2018

    AverageBalance

    InterestIncome/Expense

    AverageYield/Cost

    AverageBalance

    InterestIncome/Expense

    AverageYield/Cost

    AverageBalance

    InterestIncome/Expense

    AverageYield/Cost

    Assets (dollars in thousands) Interest-earning assets: Cash and cash equivalents $ 173,613 $ 378 0.88 % $ 230,377 $ 634 1.09 % $ 167,236 $ 313 0.76 % Investment securities 1,298,476 9,389 2.89 1,243,240 9,046 2.91 919,526 6,341 2.76 Loans receivable, net [(1)(2)] 8,867,159 121,476 5.56 8,909,407 126,341 5.63 6,237,968 84,173 5.47 Total interest-earning assets 10,339,248 131,243 5.15 10,383,024 136,021 5.20 7,324,730 90,827 5.03 Noninterest-earning assets 1,224,281 1,199,343 720,569 Total assets $ 11,563,529 $ 11,582,367 $ 8,045,299 Liabilities and Equity Interest-bearing deposits: Interest checking $ 536,117 $ 474 0.36 % $ 521,778 $ 456 0.35 % $ 348,110 $ 114 0.13 % Money market 2,912,819 6,534 0.91 2,963,437 6,074 0.81 2,189,912 3,159 0.59 Savings 249,621 86 0.14 258,634 98 0.15 223,992 79 0.14 Retail certificates of deposit 1,001,344 4,058 1.64 1,025,311 3,842 1.49 713,290 1,388 0.79 Wholesale/brokered certificates of deposit 373,822 2,132 2.31 296,345 1,571 2.10 377,549 1,174 1.26 Total interest-bearing deposits 5,073,723 13,284 1.06 5,065,505 12,041 0.94 3,852,853 5,914 0.62 FHLB advances and other borrowings 770,331 4,802 2.53 795,029 4,701 2.35 508,142 2,023 1.61 Subordinated debentures 110,340 1,751 6.35 110,271 1,733 6.29 105,153 1,609 6.12 Total borrowings 880,671 6,553 3.02 905,300 6,434 2.82 613,295 3,632 2.40 Total interest-bearing liabilities 5,954,394 19,837 1.35 5,970,805 18,475 1.23 4,466,148 9,546 0.87 Noninterest-bearing deposits 3,480,791 3,571,119 2,262,895 Other liabilities 136,483 95,820 60,627 Total liabilities 9,571,668 9,637,744 6,789,670 Stockholders' equity 1,991,861 1,944,623 1,255,629 Total liabilities and equity $ 11,563,529 $ 11,582,367 $ 8,045,299 Net interest income $ 111,406 $ 117,546 $ 81,281 Net interest margin [(3)] 4.37 % 4.49 % 4.50 % Cost of deposits 0.63 0.55 0.39 Cost of funds [(4)] 0.85 0.77 0.58 Ratio of interest-earning assets to interest-bearing liabilities 173.64 173.90 164.01 [(1)] middling balance includes loans held for sale and nonperforming loans and is net of deferred loan origination fees/costs and discounts/premiums. [(2)] Interest income includes net discount accretion of $3.8 million, $6.3 million and $3.7 million, respectively. [(3)] Represents annualized net interest income divided by middling interest-earning assets. [(4)] Represents annualized total interest expense divided by the sum of middling total interest-bearing liabilities and noninterest-bearing deposits. PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES LOAN PORTFOLIO COMPOSITION March 31, December 31, September 30, June 30, March 31, 2019 2018 2018 2018 2018 (dollars in thousands) Business loans Commercial and industrial $ 1,336,520 $ 1,364,423 $ 1,359,841 $ 1,102,586 $ 1,062,385 Franchise 813,057 765,416 735,366 708,957 692,846 Commercial owner occupied 1,648,762 1,679,122 1,675,528 1,310,722 1,268,869 SBA 188,757 193,882 193,487 176,696 182,626 Agribusiness 134,603 138,519 133,241 136,962 149,256 Total commerce loans 4,121,699 4,141,362 4,097,463 3,435,923 3,355,982 Real estate loans Commercial non-owner occupied 2,124,250 2,003,174 1,931,165 1,219,747 1,227,693 Multi-family 1,511,942 1,535,289 1,554,692 805,494 817,963 One-to-four family 279,467 356,264 376,617 249,495 266,324 Construction 538,197 523,643 504,708 321,423 319,610 Farmland 167,345 150,502 138,479 136,548 136,522 Land 46,848 46,628 49,992 30,246 34,452 Total existent estate loans 4,668,049 4,615,500 4,555,653 2,762,953 2,802,564 Consumer loans Consumer loans 85,302 89,424 114,736 81,973 86,206 Gross loans held for investment 8,875,050 8,846,286 8,767,852 6,280,849 6,244,752 Deferred loan origination costs/(fees) and premiums/(discounts), net (9,195 ) (9,468 ) (8,648 ) (3,263 ) (2,911 ) Loans held for investment 8,865,855 8,836,818 8,759,204 6,277,586 6,241,841 Allowance for loan losses (37,856 ) (36,072 ) (33,306 ) (31,747 ) (30,502 ) Loans held for investment, net $ 8,827,999 $ 8,800,746 $ 8,725,898 $ 6,245,839 $ 6,211,339 Loans held for sale, at lower of cost or impartial value $ 11,671 $ 5,719 $ 52,880 $ 13,879 $ 29,034 PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIES ASSET attribute INFORMATION March 31, December 31, September 30, June 30, March 31, 2019 2018 2018 2018 2018 Asset Quality (dollars in thousands) Nonperforming loans $ 12,858 $ 4,857 $ 7,268 $ 6,039 $ 8,149 Other existent estate owned 180 147 356 220 206 Other assets owned 13 13 129 183 233 Nonperforming assets $ 13,051 $ 5,017 $ 7,753 $ 6,442 $ 8,588 Allowance for loan losses $ 37,856 $ 36,072 $ 33,306 $ 31,747 $ 30,502 Allowance for loan losses as a percent of total nonperforming loans 294 % 743 % 458 % 526 % 374 % Nonperforming loans as a percent of loans held for investment 0.15 0.05 0.08 0.10 0.13 Nonperforming assets as a percent of total assets 0.11 0.04 0.07 0.08 0.11 Net loan charge-offs for the quarter ended $ 228 $ 138 $ 87 $ 108 $ 687 Net loan charge-offs for quarter to middling total loans [(1)] — % — % — % — % 0.01 % Allowance for loan losses to loans held for investment 0.43 % 0.41 % 0.38 % 0.51 % 0.49 % Delinquent Loans 30 - 59 days $ 2,299 $ 7,047 $ 1,977 $ 3,583 $ 6,605 60 - 89 days 1,982 1,242 720 1,290 1,084 90+ days 11,481 4,564 5,048 2,574 5,065 Total delinquency $ 15,762 $ 12,853 $ 7,745 $ 7,447 $ 12,754 Delinquency as a percent of loans held for investment 0.18 % 0.15 % 0.09 % 0.12 % 0.20 %

    [(1)] The ratios are less than 0.01% as of March 31, 2019, December 31, 2018, September 30, 2018 and June 30, 2018.

    PACIFIC PREMIER BANCORP, INC. AND SUBSIDIARIESGAAP RECONCILIATIONS(dollars in thousands, except per partake data)

    For periods presented below, return on middling tangible common equity is a non-U.S. GAAP monetary measures derived from U.S. GAAP-based amounts. They reckon this design by excluding CDI amortization expense from net income and excluding the middling CDI and middling goodwill from the middling stockholders' equity during the periods indicated. Management believes that the exclusion of such items from this monetary measures provides useful information to gain an understanding of the operating results of their core business. However, this non-GAAP monetary measure is supplemental and is not a substitute for an analysis based on GAAP measures. As other companies may expend different calculations for this adjusted measure, this presentation may not breathe comparable to other similarly titled adjusted measures reported by other companies.

    Three Months Ended March 31, December 31, March 31, 2019 2018 2018 Net income $ 38,718 $ 39,643 $ 28,002 Plus CDI amortization expense 4,436 4,631 2,274 Less CDI amortization expense tax adjustment 1,288 1,294 548 Net income for middling tangible common equity $ 41,866 $ 42,980 $ 29,728 Average stockholders' equity $ 1,991,861 $ 1,944,623 $ 1,255,629 Less middling CDI 98,984 103,434 42,220 Less middling goodwill 808,726 808,516 493,357 Average tangible common equity $ 1,084,151 $ 1,032,673 $ 720,052 Return on middling equity 7.78 % 8.15 % 8.92 % Return on middling tangible common equity 15.45 % 16.65 % 16.51 %

    Tangible reserve value per partake and tangible common equity to tangible assets (the “tangible common equity ratio”) are non-U.S. GAAP monetary measures derived from U.S. GAAP-based amounts. They reckon tangible reserve value per partake by dividing tangible common equity by common shares outstanding, as compared to reserve value per share, which they reckon by dividing common stockholders' equity by shares outstanding. They reckon the tangible common equity ratio by excluding the balance of intangible assets from common stockholders' equity and dividing by tangible assets. They believe that this information is consistent with the treatment by bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios. Accordingly, they believe that these non-U.S. GAAP monetary measures provide information that is Important to investors and that is useful in understanding their capital position and ratios. However, these non-U.S. GAAP monetary measures are supplemental and are not a substitute for an analysis based on U.S. GAAP measures. As other companies may expend different calculations for these measures, this presentation may not breathe comparable to other similarly titled measures reported by other companies.

    March 31, December 31, September 30, June 30, March 31, 2019 2018 2018 2018 2018 Total stockholders' equity $ 2,007,064 $ 1,969,697 $ 1,916,377 $ 1,288,525 $ 1,261,908 Less intangible assets 904,846 909,282 913,079 532,610 534,525 Tangible common equity $ 1,102,218 $ 1,060,415 $ 1,003,298 $ 755,915 $ 727,383 Book value per share $ 31.97 $ 31.52 $ 30.68 $ 27.63 $ 27.12 Less intangible reserve value per share 14.41 14.55 14.62 11.42 11.49 Tangible reserve value per share $ 17.56 $ 16.97 $ 16.06 $ 16.21 $ 15.63 Total assets $ 11,580,495 $ 11,487,387 $ 11,503,881 $ 8,158,131 $ 8,086,816 Less intangible assets 904,846 909,282 913,079 532,610 534,525 Tangible assets $ 10,675,649 $ 10,578,105 $ 10,590,802 $ 7,625,521 $ 7,552,291 Tangible common equity ratio 10.32 % 10.02 % 9.47 % 9.91 % 9.63 %

    View source version on businesswire.com: https://www.businesswire.com/news/home/20190423005365/en/

    SOURCE: Pacific Premier Bancorp, Inc.

    Pacific Premier Bancorp, Inc. Steven R. GardnerChairman, President and Chief Executive Officer(949) 864-8000 Ronald J. Nicolas, Jr.Senior Executive Vice President and Chief monetary Officer(949) 864-8000

    Copyright commerce Wire 2019


    F.N.B. Corporation Reports First Quarter 2019 Earnings per partake of $0.28 and Operating Earnings per partake of $0.29

    PITTSBURGH, April 23, 2019 /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) reported earnings for the first quarter of 2019 with net income available to common stockholders of $92.1 million, or $0.28 per diluted common share. Comparatively, first quarter of 2018 net income available to common stockholders totaled $84.8 million, or $0.26 per diluted common share, and fourth quarter of 2018 net income available to common stockholders totaled $98.1 million, or $0.30 per diluted common share. On an operating basis, first quarter of 2019 earnings per diluted common partake (non-GAAP) was $0.29, excluding $1.6 million in offshoot consolidation costs.  Operating earnings per diluted common partake (non-GAAP) equaled reported results in the first and fourth quarters of 2018.

    "We are very pleased to report another stalwart quarter. Operating earnings per partake grew 12% year-over-year to $0.29, benefiting from continued positive operating leverage. Operating return on tangible common equity was again peer-leading at nearly 18%, and the efficiency ratio improved by more than 200 basis points to 53%," commented Chairman, President, and Chief Executive Officer, Vincent J. Delie, Jr. "We are off to a noteworthy start in 2019 as total loans grew 8% annualized with contributions from across the footprint, including their newer southeastern markets. They established Good momentum in the first quarter and they are excited about executing their commerce procedure throughout the comfort of the year."

    First Quarter 2019 Highlights(All comparisons refer to the first quarter of 2018, except as noted)

  • Growth in total middling loans was $1.2 billion, or 5.8%, with middling commercial loan growth of $602 million, or 4.5%, and middling consumer loan growth of $622 million, or 8.0%. Compared to the fourth quarter of 2018, total middling loans grew $440 million, or 8.1% annualized.
  • Total middling deposits grew $1.2 billion, or 5.6%, including an increase in middling non-interest-bearing deposits of $285 million, or 5.1%, an increase in interest-bearing exact deposits of $263 million, or 2.8%, and an increase in middling time deposits of $711 million, or 15.3%. 
  • The loan to deposit ratio was 94.7% at March 31, 2019, compared to 94.5%.
  • The net interest margin (FTE) (non-GAAP) declined 13 basis points to 3.26% from 3.39%, primarily due to the sale of Regency Finance Company (Regency) in the third quarter of 2018. Regency contributed 12 basis points to net interest margin in the first quarter of 2018.  The decline besides reflected higher funding costs caused by four increases in benchmark interest rates during 2018 and increased deposit pricing competition, partially offset by a 4 basis point increase in the contribution from incremental purchase accounting accretion.
  • The company issued $120 million of 4.950% fixed-to-floating rate subordinated notes due 2029.
  • Total revenue increased 0.8% to $296.0 million, reflecting a 2.0% increase in net interest income partially offset by a 3.1% diminish in non-interest income.
  • Non-interest income decreased $2.1 million, or 3.1%, including a $1.2 million loss on fixed assets related to offshoot consolidations. Capital markets income grew 15.8%, reflecting stalwart interest rate swap and international banking activity, while dependence income grew 5.2%.  Dividends on non-marketable equity securities increased $1.0 million to $5.0 million due to an increase in the FHLB dividend rate, while mortgage banking operations income declined primarily due to a $1.3 million interest rate-related valuation adjustment of mortgage servicing rights.
  • The efficiency ratio (non-GAAP) improved to 53.4%, compared to 55.8% in the first quarter of 2018 and 54.1% in the fourth quarter of 2018.
  • The annualized net charge-offs to total middling loans ratio decreased to 0.14% from 0.20%, reflective of continued stalwart credit attribute results.
  • The ratio of the allowance for credit losses to total loans and leases decreased to 0.82%, compared to 0.84%. The provision for credit losses of $13.6 million supported stalwart loan growth and exceeded net charge-offs of $7.6 million. The low smooth of net charge-offs reflects previous actions taken to reduce credit risk, including the sale of Regency.
  • The ratio of tangible common equity to tangible assets (non-GAAP) increased 37 basis points to 7.15%. Tangible reserve value per common partake (non-GAAP) increased $0.77, or 12.5%, to $6.91. 
  • Quarterly Results Summary

    1Q19

    4Q18

    1Q18

    Reported results

    Net income available to common stockholders (millions)

    $

    92.1

    $

    98.1

    $

    84.8

    Net income per diluted common share

    0.28

    0.30

    0.26

    Book value per common partake (period-end)

    14.09

    13.88

    13.37

    Operating results (non-GAAP)

    Operating net income available to common stockholders (millions)

    $

    93.4

    $

    98.1

    $

    84.8

    Operating net income per diluted common share

    0.29

    0.30

    0.26

    Tangible common equity to tangible assets (period-end)

    7.15

    %

    7.05

    %

    6.78

    %

    Tangible reserve value per common partake (period-end)

    $

    6.91

    $

    6.68

    $

    6.14

    Average Diluted Common Shares Outstanding (thousands)

    325,829

    325,556

    325,767

    Significant items influencing earnings1 (millions)

    Pre-tax offshoot consolidation costs

    $

    (1.6)

    $

    $

    After-tax impact of offshoot consolidation costs

    (1.3)

    (1) Favorable (unfavorable) impact on earnings

    First Quarter 2019 Results – Comparison to Prior-Year Quarter

    Net interest income totaled $230.6 million, increasing $4.5 million, or 2.0%. The net interest margin (FTE) (non-GAAP) declined 13 basis points to 3.26%, primarily due to the sale of Regency in the third quarter of 2018. Regency contributed 12 basis points to the net interest margin in the first quarter of 2018. The first quarter of 2019 included $8.4 million of incremental purchase accounting accretion and $1.0 million of cash recoveries, compared to $4.8 million and $1.1 million, respectively, in the first quarter of 2018. The continued benefit from purchase accounting accretion primarily reflects continued improvement in credit attribute performance for the acquired loan portfolio. First quarter interest expense included a net benefit of $1.6 million for the $2.5 million recognition of the remaining discount on higher coupon acquired debt that was retired during the quarter, partially offset by $0.9 million of incremental interest expense for the quarter. These facilities were extinguished late in the quarter following a $120 million issuance of subordinated debt. Additionally, non-interest expense of $1.1 million was recorded related to the debt extinguishment.

    Total middling earning assets increased $1.7 billion, or 6.2%, due primarily to middling loan growth of $1.2 billion. The total relent on middling earning assets increased to 4.37% from 4.08%, reflecting repricing of variable and adjustable loans, higher purchase accounting accretion, and higher reinvestment rates on securities. The total cost of funds increased to 1.14%, compared to 0.71%, reflecting higher interest rates on borrowings and interest-bearing deposits caused by four increases in benchmark interest rates during 2018, increased deposit pricing competition and a $327 million increase in middling short-term borrowings.

    Average loans totaled $22.4 billion and increased 5.8% due to solid growth in the commercial and consumer portfolios. Excluding Regency balances in the first quarter of 2018, middling loans grew 6.6%. middling total commercial loan growth totaled $602 million, or 4.5%, including 13.2% growth in commercial and industrial loans and commercial leases. Commercial loan growth was led by stalwart activity in the Cleveland and Mid-Atlantic (Greater Baltimore-Washington D.C. markets) regions and continued growth in the tackle finance and asset-based lending businesses. middling consumer loan growth was $622 million, or 8.0%, as growth in circuitous auto loans of $468 million, or 31.7%, and residential mortgage loans of $446 million, or 16.4%, was partially offset by declines in direct installment loans and consumer lines of credit.

    Average deposits totaled $23.4 billion, an increase of $1.2 billion, or 5.6%, reflecting growth in non-interest-bearing deposits of $285 million, or 5.1%, growth in money market balances of $445 million, or 9.8%, and growth in time deposits of $711 million, or 15.3%, partially offset by a decline in interest checking of $182 million, or 3.7%. The growth in non-interest-bearing and money market deposits included growth in consumer and commercial relationships. The loan-to-deposit ratio was 94.7% at March 31, 2019, compared to 94.5% at March 31, 2018.

    Non-interest income totaled $65.4 million, decreasing $2.1 million, or 3.1%. Excluding a $1.2 million offshoot consolidation-related loss on fixed assets, non-interest income decreased $0.9 million or 1.4%. Capital markets income grew $0.8 million, or 15.8%, reflecting stalwart interest rate swap and international banking activity across the footprint, while dependence income grew $0.3 million, or 5.2%. Dividends on non-marketable equity securities increased $1.0 million to $5.0 million, due to an increase in the FHLB dividend rate, while mortgage banking operations income declined $1.6 million, or 29.4%, primarily due to a $1.3 million interest rate-related valuation adjustment of mortgage servicing rights. Bank-owned life insurance income decreased $0.4 million, or 13.5%.

    Non-interest expense totaled $165.7 million, decreasing 3.1%. Excluding $0.5 million of offshoot consolidation costs, non-interest expense totaled $165.3 million, decreasing 3.4%. The primary driver of the diminish in non-interest expense was a $2.9 million, or 32.6%, diminish in FDIC insurance expense, partially offset by a $2.0 million, or 2.2%, increase in salaries and benefits. The decline in FDIC expense was primarily due to the elimination of the FDIC's great bank surcharge in the fourth quarter of 2018, while the increase in salaries and benefits was primarily related to annual merit increases. The efficiency ratio (non-GAAP) improved to 53.4% from 55.8%.

    The ratio of non-performing loans and other existent estate owned (OREO) to total loans and OREO decreased 9 basis points to 0.58%. For the originated portfolio, the ratio of non-performing loans and OREO to total loans and OREO decreased 22 basis points to 0.59%. Total delinquency remains at satisfactory levels, and total originated delinquency, defined as total past due and non-accrual originated loans as a percentage of total originated loans, improved 16 basis points to 0.63%, compared to 0.79% at March 31, 2018.

    The provision for credit losses totaled $13.6 million, compared to $14.5 million. The provision for credit losses supported stalwart loan growth and exceeded net charge-offs of $7.6 million, or 0.14% annualized of total middling loans, which declined from $10.6 million, or 0.20%. For the originated portfolio, net charge-offs were $4.8 million, or 0.10% annualized of total middling originated loans, compared to $11.0 million or 0.29% annualized of total middling originated loans. The ratio of the allowance for credit losses to total loans and leases was 0.82% and 0.84% at March 31, 2019, and March 31, 2018, respectively. For the originated portfolio, the allowance for credit losses to total originated loans was 0.94%, compared to 1.08% at March 31, 2018, directionally consistent with credit quality.

    The efficient tax rate was 19.3%, compared to 19.7%.

    The tangible common equity to tangible assets ratio (non-GAAP) increased 37 basis points to 7.15% at March 31, 2019, compared to 6.78% at March 31, 2018. The tangible reserve value per common partake (non-GAAP) was $6.91 at March 31, 2019, an increase of $0.77, or 13%, from $6.14 at March 31, 2018.

    First Quarter 2019 Results – Comparison to Prior Quarter

    Net interest income totaled $230.6 million, decreasing $1.6 million or 0.7%, due primarily to fewer days in the quarter. The net interest margin (FTE) (non-GAAP) declined 3 basis points to 3.26% and included $8.4 million of incremental purchase accounting accretion and $1.0 million of cash recoveries, compared to $8.3 million and $0.9 million, respectively. First quarter interest expense included a net benefit of $1.6 million for the $2.5 million recognition of the remaining discount on higher coupon acquired debt that was retired during the quarter, partially offset by $0.9 million of incremental interest expense for the quarter. These facilities were extinguished late in the quarter following a $120 million issuance of subordinated debt. Additionally, non-interest expense of $1.1 million was recorded related to the debt extinguishment.

    Total middling earning assets increased $532 million, or 7.6% annualized, due to middling loan growth of $440 million and an $87 million increase in middling securities. The total relent on earning assets increased to 4.37% from 4.31%, reflecting repricing of variable and adjustable loans. The total cost of funds increased to 1.14% from 1.04%, reflecting higher interest rates on borrowings and interest-bearing deposits caused by an increase in benchmark interest rates and increased deposit charge competition, and a $584 million increase in middling short-term borrowings.

    Average loans totaled $22.4 billion and increased $440 million, or 8.1% annualized, with middling commercial loan growth of $332 million, or 9.9% annualized, and middling consumer loan growth of $108 million, or 5.2% annualized. Commercial balances included growth of $283 million, or 23.8% annualized, in commercial and industrial loans and commercial leases, and growth of $46 million, or 2.1% annualized, in commercial existent estate. Commercial loan growth was led by their Cleveland, Pittsburgh, and Mid-Atlantic markets. Consumer balances reflected continued growth in residential mortgage loans of $123 million, or 16.4% annualized, and circuitous auto loans of $34 million, or 7.3% annualized, partially offset by declines in direct installment loans and consumer lines of credit.

    Average deposits totaled $23.4 billion and decreased $87 million, or 1.5% annualized, due primarily to modest seasonal declines in municipal deposits and declines in brokered time deposits, partially offset by growth in consumer non-interest-bearing deposits and commerce and consumer money market balances. The loan-to-deposit ratio was 94.7% at March 31, 2019, compared to 94.4% at December 31, 2018.

    Non-interest income totaled $65.4 million, decreasing $3.0 million, or 4.4%. Excluding a $1.2 million offshoot consolidation-related loss on fixed assets, non-interest income decreased $1.9 million, or 2.7%. Seasonally stalwart insurance commissions and fees increased $1.3 million, or 35.7%, and capital markets income increased $0.8 million or 16.1% due to stalwart interest rate swap and international banking activity across the footprint. Dividends on non-marketable equity securities increased $1.1 million to $5.0 million due to an increase in the FHLB dividend rate. This was offset by a $2.1 million, or 6.6%, seasonal diminish in service charges, as well as a $0.6 million, or 13.4%, diminish in mortgage banking operations reflecting a $1.3 million interest rate-related valuation adjustment of mortgage servicing rights.

    Non-interest expense totaled $165.7 million, a diminish of $4.0 million, or 2.3%. Excluding $0.5 million of offshoot consolidation costs, non-interest expense decreased $4.4 million, or 2.6%. The primary drivers of the first quarter diminish in non-interest expense were a $2.0 million, or 11.9%, diminish in outside services (primarily legal and consulting), and a $0.8 million, or 0.9%, diminish in personnel expense. These decreases were partially offset by a $2.0 million, or 7.0%, increase in occupancy and tackle primarily due to seasonally higher utilities expense. Bank shares and franchise taxes increased $1.5 million due primarily to Pennsylvania condition tax credits recognized in the fourth quarter of 2018. Donations of $1.3 million made in the fourth quarter to merit these tax credits were recognized in other non-interest expense. The efficiency ratio (non-GAAP) improved to 53.4%, compared to 54.1%.

    The ratio of non-performing loans and OREO to total loans and OREO decreased 3 basis points to 0.58%. For the originated portfolio, the ratio of non-performing loans and OREO to total loans and OREO decreased 2 basis points to 0.59%. Total delinquency remains at conducive levels, and total originated delinquency, defined as total past due and non-accrual originated loans as a percentage of total originated loans, decreased 1 basis point to 0.63%, compared to 0.64% at December 31, 2018.

    The provision for credit losses totaled $13.6 million, compared to $15.2 million. The provision for credit losses supported stalwart loan growth and exceeded net charge-offs of $7.6 million, or 0.14% annualized of total middling loans, compared to $13.4 million, or 0.24% annualized in the prior quarter. For the originated portfolio, net charge-offs were $4.8 million, or 0.10% annualized of total middling originated loans, compared to $12.1 million or 0.27% annualized. The ratio of the allowance for credit losses to total loans and leases increased to 0.82% from 0.81% at December 31, 2018. For the originated portfolio, the allowance for credit losses to total originated loans declined to 0.94% from 0.95% at December 31, 2018.

    The efficient tax rate was 19.3%, compared to 13.5%. The prior quarter was affected by investment tax credits related to lease financing projects.

    The tangible common equity to tangible assets ratio (non-GAAP) increased 10 basis points to 7.15% at March 31, 2019, compared to 7.05% at December 31, 2018. The tangible reserve value per common partake (non-GAAP) was $6.91 at March 31, 2019, an increase of $0.23 from December 31, 2018.

    Use of Non-GAAP monetary Measures and Key Performance Indicators

    To supplement their Consolidated monetary Statements presented in accordance with GAAP, they expend inescapable non-GAAP monetary measures, such as operating net income available to common stockholders, operating earnings per diluted common share, return on middling tangible equity, return on middling tangible common equity, return on middling tangible assets, tangible reserve value per common share, the ratio of tangible equity to tangible assets, the ratio of tangible common equity to tangible assets, efficiency ratio, and net interest margin (FTE) to provide information useful to investors in understanding their operating performance and trends, and to facilitate comparisons with the performance of their peers. Management uses these measures internally to assess and better understand their underlying commerce performance and trends related to core commerce activities. The non-GAAP monetary measures and key performance indicators they expend may vary from the non-GAAP monetary measures and key performance indicators other monetary institutions expend to assess their performance and trends.

    These non-GAAP monetary measures should breathe viewed as supplemental in nature, and not as a substitute for or superior to, their reported results prepared in accordance with GAAP. When non-GAAP monetary measures are disclosed, the Securities and Exchange Commission's (SEC) Regulation G requires: (i) the presentation of the most directly comparable monetary measure calculated and presented in accordance with GAAP and (ii) a reconciliation of the differences between the non-GAAP monetary measure presented and the most directly comparable monetary measure calculated and presented in accordance with GAAP. Reconciliations of non-GAAP operating measures to the most directly comparable GAAP monetary measures are included in the tables at the conclude of this release under the heading "Reconciliations of Non-GAAP monetary Measures and Key Performance Indicators to GAAP".

    Management believes charges such as merger expenses, offshoot consolidation costs and special one-time employee 401(k) contributions related to tax reform are not organic costs to Run their operations and facilities. The merger expenses and offshoot consolidation charges principally portray expenses to meet contractual obligations of the acquired entity or closed offshoot without any useful ongoing benefit to us. These costs are specific to each individual transaction and may vary significantly based on the size and complexity of the transaction. Similarly, gains derived from the sale of a commerce are not organic to their operations.

    To provide more meaningful comparisons of net interest margin and efficiency ratio, they expend net interest income on a taxable-equivalent basis in calculating net interest margin by increasing the interest income earned on tax-exempt assets (loans and investments) to construct it fully equivalent to interest income earned on taxable investments (this adjustment is not permitted under GAAP). Taxable-equivalent amounts for the 2019 and 2018 periods were calculated using a federal statutory income tax rate of 21% provided under the TCJA (effective January 1, 2018).

    Cautionary Statement Regarding Forward-Looking Information

    A number of statements (i) in this earnings release, (ii) in their presentations, and (iii) in their responses to questions on their conference muster discussing their quarterly results and transactions, strategies and plans may accommodate forward-looking statements within the acceptation of the Private Securities Litigation Reform Act of 1995, including their expectations relative to commerce and monetary metrics, their outlook regarding revenues, expenses, earnings, liquidity, efficiency ratio, capital measures, asset quality, statements regarding the impact of technology enhancements and customer and commerce process improvements and future commerce and economic conditions and other future matters.

    Where they express an expectation or faith as to future events or results, such expectation or faith is expressed in Good faith and believed to abide a reasonable basis. However, their forward-looking statements may breathe identified by the fact that they finish not relate strictly to historical or current facts and are based on current expectations and assumptions that are matter to risk, uncertainties and unforeseen events which may occasions actual results to vary materially from future results expressed, projected or implied by these forward-looking statements. complete forward-looking statements converse only as of the date they are made and are based on information available at that time. They assume no responsibility to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the circumstance of unanticipated events, except as required by federal securities laws. Further, it is not practicable to assess the consequence of complete risk factors on their commerce to the extent to which any one risk factor or compilation thereof may occasions actual results to vary materially from those contained in any forward-looking statements. As forward-looking statements involve significant risks and uncertainties, caution should breathe exercised against placing undue reliance on such statements.

    Such forward-looking statements may breathe expressed in a variety of ways, including the expend of future and present tense language expressing expectations or predictions of future monetary or commerce performance or conditions based on current performance and trends. Forward-looking statements are typically identified by words such as "believe," "plan," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "will," "should," "project," "goal," and other similar words and expressions. These forward-looking statements involve inescapable risks and uncertainties. In addition to factors previously disclosed in their reports filed with the SEC, the following factors, among others, could occasions actual results to vary materially from forward-looking statements or historical performance: changes in asset attribute and credit risk and the possibility of future credit losses may breathe higher than currently expected due to changes in economic assumptions, customer behavior, adverse developments with respect to U.S. or global economic conditions and other uncertainties; the inability to sustain revenue and earnings growth; changes in interest rates, deposit costs and capital markets; changes or errors in the methodologies, models, assumptions and estimates they expend to prepare their monetary statements, construct commerce decisions and manage risks; FNB's skill to achieve its expense targets and its expectations regarding net interest income, net charge-offs, loan growth and other projections; inability to effectively grow and expand their customer bases; their skill to execute on key priorities, including successful completion of acquisitions and dispositions, commerce retention, expansion plans, strategic plans and attracting, developing and retaining key executives; potential difficulties encountered in operating in new and remote geographic markets; customer borrowing, repayment, investment and deposit practices; customer disintermediation; the introduction, withdrawal, success and timing of commerce and technology initiatives; economic conditions in the various regions in which they operate; competitive conditions, including increased competition through internet, mobile banking, fintech, and other non-traditional competitors; the inability to realize cost savings or revenues or to effectively implement integration plans and other consequences associated with acquisitions and divestitures; the inability to originate and re-sell mortgage loans in accordance with commerce plans; their inability to effectively manage their economic exposure and GAAP earnings exposure to interest rate volatility, including availability of arrogate derivative monetary investments needed for interest rate risk management purposes; impact of U.S. inflation rates and trade policy; impact of U.S. interest rate environment on FNB's business, monetary condition, and results of operations; interruption in or infringement of security of their information systems; the failure of third parties and vendors to comply with their obligations to us, including related to care, control, and protection of such information; the evolution of various types of fraud or other criminal behavior to which they are exposed; integrity and functioning of products, information systems and services provided by third-party external vendors; adverse changes to FNB's credit ratings from the major credit rating agencies; changes in tax rules and regulations or interpretations including, but not limited to, the recently enacted TCJA; changes in or anticipated impact of accounting policies, standards and interpretations; skill to maintain adequate liquidity to fund their operations; changes in asset valuations; the initiation of significant legal or regulatory proceedings against us and the outcome of any significant legal or regulatory proceeding including, but not limited to, actions by federal or condition authorities and class action cases, new decisions that result in changes to previously settled law or regulation, and any unexpected court or regulatory rulings; the impact, extent and timing of technological changes, capital management activities, and other actions of the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Consumer monetary Protection Bureau, the Federal Deposit Insurance Corporation and legislative and regulatory actions and reforms; and risks related to the discontinuation of the London Interbank Offered Rate.

    The risks identified here are not exclusive. Actual results may vary materially from those expressed or implied as a result of these risks and uncertainties, including, but not limited to, the risk factors and other uncertainties described under item 1A. Risk Factors of their Annual Report on profile 10-K (including MD&A section) for the year ended December 31, 2018, their subsequent 2019 Quarterly Reports on profile 10-Q's (including the risk factors and risk management discussions) and their other subsequent filings with the SEC, which are available on their corporate website at https://www.fnb-online.com/about-us/investor-relations-shareholder-services. They abide included their web address as an supine textual reference only. Information on their website is not allotment of this earnings release.

    Conference Call

    FNB's Chairman, President and Chief Executive Officer, Vincent J. Delie, Jr., Chief monetary Officer, Vincent J. Calabrese, Jr., and Chief Credit Officer, Gary L. Guerrieri, will host a conference muster to argue the Company's monetary results on Tuesday, April 23, 2019, at 8:15 AM ET.

    Participants are encouraged to pre-register for the conference muster at http://dpregister.com/10130071. Callers who pre-register will breathe provided a conference passcode and unique PIN to gain immediate access to the muster and bypass the live operator. Participants may pre-register at any time, including up to and after the muster start time.

    Dial-in Access: The conference muster may breathe accessed by dialing (844) 802-2440 or (412) 317-5133 for international callers. Participants should exact to breathe joined into the F.N.B. Corporation call.

    Webcast Access: The audio-only muster and related presentation materials may breathe accessed via webcast through the "Investor Relations and Shareholder Services" section of the Corporation's website at www.fnbcorporation.com. Access to the live webcast will initiate approximately 30 minutes prior to the start of the call.

    Presentation Materials: Presentation slides and the earnings release will besides breathe available prior to the start of the muster on the "Investor Relations and Shareholder Services" section of the Corporation's website at www.fnbcorporation.com.

    A replay of the muster will breathe available shortly after the completion of the muster until midnight ET on Tuesday, April 30, 2019. The replay can breathe accessed by dialing (877) 344-7529 or (412) 317-0088 for international callers; the conference replay access code is 10130071. Following the call, the related presentation materials will breathe posted to the "Investor Relations and Shareholder Services" section of F.N.B. Corporation's website at www.fnbcorporation.com.

    About F.N.B. Corporation

    F.N.B. Corporation (NYSE: FNB), headquartered in Pittsburgh, Pennsylvania, is a diversified monetary services company operating in seven states and the District of Columbia. FNB's market coverage spans several major metropolitan areas including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington, D.C.; and Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and lofty Point) in North Carolina. The Company has total assets of more than $33 billion and approximately 380 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina and South Carolina.

    FNB provides a full compass of commercial banking, consumer banking and wealth management solutions through its subsidiary network which is led by its largest affiliate, First National Bank of Pennsylvania, founded in 1864. Commercial banking solutions embrace corporate banking, tiny commerce banking, investment existent estate financing, government banking, commerce credit, capital markets and lease financing. The consumer banking segment provides a full line of consumer banking products and services, including deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. FNB's wealth management services embrace asset management, private banking and insurance.

    The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the emblem "FNB" and is included in touchstone & Poor's MidCap 400 Index with the Global Industry Classification touchstone (GICS) Regional Banks Sub-Industry Index. Customers, shareholders and investors can learn more about this regional monetary institution by visiting the F.N.B. Corporation website at www.fnbcorporation.com.

    Non-GAAP measures referenced in this release are used by management to measure performance in operating the commerce that management believes enhances investors' skill to better understand the underlying commerce performance and trends related to core commerce activities. Reconciliations of non-GAAP operating measures to the most directly comparable GAAP monetary measures are included in the tables at the conclude of this release.  "Incremental purchase accounting accretion" refers to the contrast between total accretion and the estimated coupon interest income on loans acquired in a commerce combination. "Organic growth" refers to growth excluding the benefit of initial balances from acquisitions.

    F.N.B. CORPORATION AND SUBSIDIARIES

    CONSOLIDATED STATEMENTS OF INCOME

    (Dollars in thousands, except per partake data)

    (Unaudited)

    % Variance

    1Q19

    1Q19

    1Q19

    4Q18

    1Q18

    4Q18

    1Q18

    Interest Income

    Loans and leases, including fees

    $

    269,055

    $

    265,218

    $

    239,094

    1.4

    12.5

    Securities:

       Taxable

    32,850

    32,273

    26,879

    1.8

    22.2

       Tax-exempt

    7,943

    7,474

    6,594

    6.3

    20.5

    Other

    462

    375

    360

    23.2

    28.3

         Total Interest Income

    310,310

    305,340

    272,927

    1.6

    13.7

    Interest Expense

    Deposits

    50,377

    46,531

    26,469

    8.3

    90.3

    Short-term borrowings

    25,810

    21,247

    15,207

    21.5

    69.7

    Long-term borrowings

    3,530

    5,320

    5,146

    (33.6)

    (31.4)

         Total Interest Expense

    79,717

    73,098

    46,822

    9.1

    70.3

           Net Interest Income

    230,593

    232,242

    226,105

    (0.7)

    2.0

    Provision for credit losses

    13,629

    15,203

    14,495

    (10.4)

    (6.0)

             Net Interest Income After Provision

             for Credit Losses

    216,964

    217,039

    211,610

    2.5

    Non-Interest Income

    Service charges

    30,217

    32,363

    30,077

    (6.6)

    0.5

    Trust services

    6,784

    6,506

    6,448

    4.3

    5.2

    Insurance commissions and fees

    4,897

    3,609

    5,135

    35.7

    (4.6)

    Securities commissions and fees

    4,345

    4,209

    4,319

    3.2

    0.6

    Capital markets income

    6,036

    5,198

    5,214

    16.1

    15.8

    Mortgage banking operations

    3,905

    4,509

    5,529

    (13.4)

    (29.4)

    Dividends on non-marketable equity securities

    5,023

    3,881

    3,975

    29.4

    26.4

    Bank owned life insurance

    2,841

    2,739

    3,285

    3.7

    (13.5)

    Net securities gains

    3

    (100.0)

    Other

    1,337

    5,408

    3,521

    (75.3)

    (62.0)

         Total Non-Interest Income

    65,385

    68,425

    67,503

    (4.4)

    (3.1)

    Non-Interest Expense

    Salaries and employee benefits

    91,284

    92,098

    89,326

    (0.9)

    2.2

    Net occupancy

    15,065

    13,743

    15,568

    9.6

    (3.2)

    Equipment

    14,825

    14,189

    14,465

    4.5

    2.5

    Amortization of intangibles

    3,479

    3,818

    4,218

    (8.9)

    (17.5)

    Outside services

    14,745

    16,736

    14,725

    (11.9)

    0.1

    FDIC insurance

    5,950

    6,137

    8,834

    (3.0)

    (32.6)

    Bank shares and franchise taxes

    3,467

    2,000

    3,452

    73.4

    0.4

    Other

    16,927

    20,986

    20,495

    (19.3)

    (17.4)

         Total Non-Interest Expense

    165,742

    169,707

    171,083

    (2.3)

    (3.1)

    Income Before Income Taxes

    116,607

    115,757

    108,030

    0.7

    7.9

    Income taxes

    22,480

    15,630

    21,268

    43.8

    5.7

    Net Income

    94,127

    100,127

    86,762

    (6.0)

    8.5

    Preferred stock dividends

    2,010

    2,011

    2,010

    Net Income Available to Common Stockholders

    $

    92,117

    $

    98,116

    $

    84,752

    (6.1)

    8.7

    Earnings per Common Share

    Basic

    $

    0.28

    $

    0.30

    $

    0.26

    (6.7)

    7.7

    Diluted

    0.28

    0.30

    0.26

    (6.7)

    7.7

    Cash Dividends per Common Share

    0.12

    0.12

    0.12

    n/m - not meaningful

    F.N.B. CORPORATION AND SUBSIDIARIES

    CONSOLIDATED balance SHEETS

    (Unaudited)

    (Dollars in millions)

    % Variance

    1Q19

    1Q19

    1Q19

    4Q18

    1Q18

    4Q18

    1Q18

    Assets

    Cash and due from banks

    $

    425

    $

    451

    $

    325

    (5.8)

    30.8

    Interest-bearing deposits with banks

    72

    37

    61

    94.6

    18.0

    Cash and Cash Equivalents

    497

    488

    386

    1.8

    28.8

    Securities available for sale

    3,403

    3,341

    2,927

    1.9

    16.3

    Securities held to maturity

    3,171

    3,254

    3,224

    (2.6)

    (1.6)

    Loans held for sale

    37

    22

    38

    68.2

    (2.6)

    Loans and leases, net of unearned income

    22,620

    22,153

    21,262

    2.1

    6.4

    Allowance for credit losses

    (186)

    (180)

    (179)

    3.3

    3.9

    Net Loans and Leases

    22,434

    21,973

    21,083

    2.1

    6.4

    Premises and equipment, net

    329

    330

    334

    (0.3)

    (1.5)

    Goodwill

    2,255

    2,255

    2,251

    0.2

    Core deposit and other intangible assets, net

    75

    79

    88

    (5.1)

    (14.8)

    Bank owned life insurance

    538

    537

    530

    0.2

    1.5

    Other assets

    956

    823

    791

    16.2

    20.9

    Total Assets

    $

    33,695

    $

    33,102

    $

    31,652

    1.8

    6.5

    Liabilities

    Deposits:

    Non-interest-bearing demand

    $

    6,124

    $

    6,000

    $

    5,749

    2.1

    6.5

    Interest-bearing demand

    9,743

    9,660

    9,407

    0.9

    3.6

    Savings

    2,523

    2,526

    2,600

    (0.1)

    (3.0)

    Certificates and other time deposits

    5,492

    5,269

    4,741

    4.2

    15.8

    Total Deposits

    23,882

    23,455

    22,497

    1.8

    6.2

    Short-term borrowings

    4,111

    4,129

    3,802

    (0.4)

    8.1

    Long-term borrowings

    673

    627

    660

    7.3

    2.0

    Other liabilities

    349

    283

    260

    23.3

    34.2

    Total Liabilities

    29,015

    28,494

    27,219

    1.8

    6.6

    Stockholders' Equity

    Preferred stock

    107

    107

    107

    Common stock

    3

    3

    3

    Additional paid-in capital

    4,052

    4,049

    4,038

    0.1

    0.3

    Retained earnings

    629

    576

    413

    9.2

    52.3

    Accumulated other comprehensive loss

    (88)

    (106)

    (109)

    (17.0)

    (19.3)

    Treasury stock

    (23)

    (21)

    (19)

    9.5

    21.1

    Total Stockholders' Equity

    4,680

    4,608

    4,433

    1.6

    5.6

    Total Liabilities and Stockholders' Equity

    $

    33,695

    $

    33,102

    $

    31,652

    1.8

    6.5

    F.N.B. CORPORATION AND SUBSIDIARIES

    1Q19

    4Q18

    1Q18

    (Unaudited)

    Interest

    Average

    Interest

    Average

    Interest

    Average

    (Dollars in thousands)

    Average

    Earned

    Yield

    Average

    Earned

    Yield

    Average

    Earned

    Yield

    Outstanding

    or Paid

    or Rate

    Outstanding

    or Paid

    or Rate

    Outstanding

    or Paid

    or Rate

    Assets

    Interest-bearing deposits with banks

    $

    54,167

    $

    462

    3.46

    %

    $

    50,879

    $

    375

    2.93

    %

    $

    103,904

    $

    360

    1.40

    %

    Taxable investment securities (2)

    5,444,523

    32,850

    2.41

    5,409,100

    32,273

    2.39

    5,046,294

    26,879

    2.13

    Non-taxable investment securities (1)

    1,108,698

    9,918

    3.58

    1,056,906

    9,343

    3.54

    951,021

    8,278

    3.48

    Loans held for sale

    32,954

    508

    6.21

    31,018

    439

    5.65

    65,897

    911

    5.56

    Loans and leases (1) (3)

    22,379,504

    270,151

    4.89

    21,940,195

    266,357

    4.82

    21,155,619

    239,602

    4.58

    Total Interest Earning Assets (1)

    29,019,846

    313,889

    4.37

    28,488,098

    308,787

    4.31

    27,322,735

    276,030

    4.08

    Cash and due from banks

    377,648

    381,429

    358,717

    Allowance for credit losses

    (183,482)

    (180,618)

    (180,478)

    Premises and equipment

    332,055

    324,562

    336,816

    Other assets

    3,844,135

    3,679,383

    3,656,716

    Total Assets

    $

    33,390,202

    $

    32,692,854

    $

    31,494,506

    Liabilities

    Deposits:

    Interest-bearing demand

    $

    9,651,737

    23,564

    0.99

    $

    9,582,636

    21,239

    0.88

    $

    9,388,774

    11,454

    0.49

    Savings

    2,510,148

    2,070

    0.33

    2,503,480

    1,848

    0.29

    2,536,439

    1,031

    0.17

    Certificates and other time

    5,347,638

    24,743

    1.88

    5,374,220

    23,444

    1.73

    4,637,032

    13,984

    1.20

    Short-term borrowings

    4,311,840

    25,810

    2.41

    3,727,878

    21,247

    2.25

    3,985,254

    15,207

    1.54

    Long-term borrowings

    661,661

    3,530

    2.16

    626,986

    5,320

    3.37

    660,970

    5,146

    3.16

    Total Interest-Bearing Liabilities

    22,483,024

    79,717

    1.44

    21,815,200

    73,098

    1.33

    21,208,469

    46,822

    0.89

    Non-interest-bearing exact deposits

    5,892,774

    6,029,364

    5,607,640

    Other liabilities

    362,161

    294,380

    248,128

    Total Liabilities

    28,737,959

    28,138,944

    27,064,237

    Stockholders' equity

    4,652,243

    4,553,910

    4,430,269

    Total Liabilities and Stockholders' Equity

    $

    33,390,202

    $

    32,692,854

    $

    31,494,506

    Net Interest Earning Assets

    $

    6,536,822

    $

    6,672,898

    $

    6,114,266

    Net Interest Income (FTE) (1)

    234,172

    235,689

    229,208

    Tax Equivalent Adjustment

    (3,579)

    (3,447)

    (3,103)

    Net Interest Income

    $

    230,593

    $

    232,242

    $

    226,105

    Net Interest Spread

    2.93

    %

    2.98

    %

    3.19

    %

    Net Interest Margin (1)

    3.26

    %

    3.29

    %

    3.39

    %

    (1)

    The net interest margin and relent on earning assets (all non-GAAP measures) are presented on a fully taxable equivalent (FTE) basis, which adjusts for the tax benefit of income on inescapable tax-exempt loans and investments using the federal statutory tax rate of 21%.

    (2)

    The middling balances and yields earned on taxable investment securities are based on historical cost.

    (3)

    Average balances for loans embrace non-accrual loans.  Loans and leases consist of middling total loans and leases less middling unearned income.  The amount of loan fees included in interest income is immaterial.

    F.N.B. CORPORATION AND SUBSIDIARIES

    (Unaudited)

    1Q19

    4Q18

    1Q18

    Performance Ratios

    Return on middling equity

    8.21

    %

    8.72

    %

    7.94

    %

    Return on middling tangible equity (1)

    16.93

    %

    18.39

    %

    17.48

    %

    Return on middling tangible common equity (1)

    17.38

    %

    18.94

    %

    18.01

    %

    Return on middling assets

    1.14

    %

    1.22

    %

    1.12

    %

    Return on middling tangible assets (1)

    1.26

    %

    1.35

    %

    1.25

    %

    Net interest margin (FTE) (2)

    3.26

    %

    3.29

    %

    3.39

    %

    Yield on earning assets (FTE) (2)

    4.37

    %

    4.31

    %

    4.08

    %

    Cost of interest-bearing liabilities

    1.44

    %

    1.33

    %

    0.89

    %

    Cost of funds

    1.14

    %

    1.04

    %

    0.71

    %

    Efficiency ratio (1)

    53.45

    %

    54.13

    %

    55.78

    %

    Effective tax rate

    19.28

    %

    13.50

    %

    19.69

    %

    Capital Ratios

    Equity / assets (period end)

    13.89

    %

    13.92

    %

    14.01

    %

    Common equity / assets (period end)

    13.57

    %

    13.60

    %

    13.67

    %

    Leverage ratio

    7.88

    %

    7.87

    %

    7.59

    %

    Tangible equity / tangible assets (period end) (1)

    7.49

    %

    7.39

    %

    7.14

    %

    Tangible common equity / tangible assets (period end) (1)

    7.15

    %

    7.05

    %

    6.78

    %

    Common Stock Data

    Average diluted shares outstanding

    325,828,834

    325,556,329

    325,766,968

    Period conclude shares outstanding

    324,515,913

    324,314,529

    323,686,993

    Book value per common share

    $

    14.09

    $

    13.88

    $

    13.37

    Tangible reserve value per common partake (1)

    $

    6.91

    $

    6.68

    $

    6.14

    Dividend payout ratio (common)

    42.57

    %

    39.97

    %

    46.10

    %

    (1)

    See non-GAAP monetary measures section of this Press Release for additional information relating to the calculation of this item.

    (2)

    The net interest margin and relent on earning assets (all non-GAAP measures) are presented on a fully taxable equivalent (FTE) basis, which adjusts for the tax benefit of

    income on inescapable tax-exempt loans and investments using the federal statutory tax rate of 21%.

    F.N.B. CORPORATION AND SUBSIDIARIES

    (Unaudited)

    (Dollars in millions)

    Percent Variance

    1Q19

    1Q19

    1Q19

    4Q18

    1Q18

    4Q18

    1Q18

    Balances at term end

    Loans and Leases:

    Commercial existent estate

    $

    8,835

    $

    8,786

    $

    8,811

    0.6

    0.3

    Commercial and industrial

    4,889

    4,556

    4,280

    7.3

    14.2

    Commercial leases

    374

    373

    280

    0.3

    33.6

    Other

    49

    46

    39

    6.5

    25.6

    Commercial loans and leases

    14,147

    13,761

    13,410

    2.8

    5.5

    Direct installment

    1,744

    1,764

    1,872

    (1.1)

    (6.8)

    Residential mortgages

    3,233

    3,113

    2,762

    3.9

    17.1

    Indirect installment

    1,950

    1,933

    1,524

    0.9

    28.0

    Consumer LOC

    1,546

    1,582

    1,694

    (2.3)

    (8.7)

    Consumer loans

    8,473

    8,392

    7,852

    1.0

    7.9

    Total loans and leases

    $

    22,620

    $

    22,153

    $

    21,262

    2.1

    6.4

    Percent Variance

    Average balances

    1Q19

    1Q19

    Loans and Leases:

    1Q19

    4Q18

    1Q18

    4Q18

    1Q18

    Commercial existent estate

    $

    8,814

    $

    8,768

    $

    8,810

    0.5

    Commercial and industrial

    4,723

    4,460

    4,226

    5.9

    11.8

    Commercial leases

    370

    350

    272

    5.6

    35.8

    Other

    50

    47

    47

    6.0

    6.7

    Commercial loans and leases

    13,957

    13,625

    13,355

    2.4

    4.5

    Direct installment

    1,750

    1,770

    1,884

    (1.1)

    (7.1)

    Residential mortgages

    3,169

    3,046

    2,723

    4.0

    16.4

    Indirect installment

    1,942

    1,908

    1,474

    1.8

    31.7

    Consumer LOC

    1,562

    1,591

    1,720

    (1.9)

    (9.2)

    Consumer loans

    8,423

    8,315

    7,801

    1.3

    8.0

    Total loans and leases

    $

    22,380

    $

    21,940

    $

    21,156

    2.0

    5.8

    F.N.B. CORPORATION AND SUBSIDIARIES

    (Unaudited)

    Percent Variance

    (Dollars in millions)

    1Q19

    1Q19

    Asset attribute Data

    1Q19

    4Q18

    1Q18

    4Q18

    1Q18

    Non-Performing Assets

    Non-performing loans (1)

    Non-accrual loans

    $

    78

    $

    79

    $

    78

    (1.3)

    Restructured loans

    20

    21

    24

    (4.8)

    (16.7)

    Non-performing loans

    98

    100

    102

    (2.0)

    (3.9)

    Other existent estate owned (OREO) (2)

    34

    35

    41

    (2.9)

    (17.1)

    Total non-performing assets

    $

    132

    $

    135

    $

    143

    (2.2)

    (7.7)

    Non-performing loans / total loans and leases

    0.43

    %

    0.45

    %

    0.48

    %

    Non-performing loans / total originated loans and leases (3)

    0.43

    %

    0.44

    %

    0.58

    %

    Non-performing loans + OREO / total loans and leases + OREO

    0.58

    %

    0.61

    %

    0.67

    %

    Non-performing loans + OREO / total originated loans and leases + OREO (3)

    0.59

    %

    0.61

    %

    0.81

    %

    Non-performing assets / total assets

    0.39

    %

    0.41

    %

    0.45

    %

    Delinquency - Originated Portfolio (3)

    Loans 30-89 days past due

    $

    51

    $

    53

    $

    51

    (3.8)

    Loans 90+ days past due

    6

    5

    7

    20.0

    (14.3)

    Non-accrual loans

    61

    58

    68

    5.2

    (10.3)

    Total past due and non-accrual loans

    $

    118

    $

    116

    $

    126

    1.7

    (6.3)

    Total past due and non-accrual loans / total originated loans

    0.63

    %

    0.64

    %

    0.79

    %

    Delinquency - Acquired Portfolio (4) (5)

    Loans 30-89 days past due

    $

    36

    $

    46

    $

    61

    (21.7)

    (41.0)

    Loans 90+ days past due

    49

    53

    86

    (7.5)

    (43.0)

    Non-accrual loans

    17

    21

    10

    (19.0)

    70.0

    Total past due and non-accrual loans

    $

    102

    $

    120

    $

    157

    (15.0)

    (35.0)

    Delinquency - Total Portfolio

    Loans 30-89 days past due

    $

    87

    $

    99

    $

    112

    (12.1)

    (22.3)

    Loans 90+ days past due

    55

    58

    93

    (5.2)

    (40.9)

    Non-accrual loans

    78

    79

    78

    (1.3)

    Total past due and non-accrual loans

    $

    220

    $

    236

    $

    283

    (6.8)

    (22.3)

    (1)

    Does not embrace loans acquired in a commerce combination at impartial value ("acquired portfolio").

    (2)

    Includes complete other existent estate owned, including those balances acquired through commerce combinations that abide been in the acquired portfolio prior to foreclosure.

    (3)

    "Originated Portfolio" or "Originated Loans and Leases" equals loans and leases not included by definition in the Acquired Portfolio.

    (4)

    "Acquired Portfolio" or "Loans Acquired in a commerce Combination" equals loans acquired at impartial value, accounted for in accordance with ASC 805. The risk of credit loss on these loans has been considered by virtue of their assay of acquisition-date impartial value and these loans are considered accruing as they primarily recognize interest income through accretion of the contrast between the carrying value of these loans and their expected cash flows.  Because loans acquired in a commerce combination are initially recorded at an amount estimated to breathe collectible, losses on such loans, when incurred, are first applied against the non-accretable contrast established in purchase accounting and then to any allowance for credit losses recognized subsequent to acquisition.

    (5)

    Represents contractual balances.

    F.N.B. CORPORATION AND SUBSIDIARIES

    (Unaudited)

    Percent Variance

    (Dollars in millions)

    1Q19

    1Q19

    Allowance Rollforward

    1Q19

    4Q18

    1Q18

    4Q18

    1Q18

    Allowance for Credit Losses - Originated Portfolio (2)

    Balance at dawn of period

    $

    173

    $

    174

    $

    168

    (0.6)

    3.0

    Provision for credit losses

    9

    11

    14

    (18.2)

    (35.7)

    Net loan charge-offs

    (5)

    (12)

    (10)

    (58.3)

    (50.0)

    Allowance for credit losses - originated portfolio (2)

    $

    177

    $

    173

    $

    172

    2.3

    2.9

    Allowance for credit losses (originated loans and leases) /

       total originated loans and leases (2)

    0.94

    %

    0.95

    %

    1.08

    %

    Allowance for credit losses (originated loans and leases) /

       total non-performing loans (1)

    218.12

    %

    219.93

    %

    186.24

    %

    Net loan charge-offs on originated loans and leases (annualized) /

       total middling originated loans and leases (2)

    0.10

    %

    0.27

    %

    0.29

    %

    Allowance for Credit Losses - Acquired Portfolio (3)

    Balance at dawn of period

    $

    7

    $

    4

    $

    7

    75.0

    Provision for credit losses

    5

    4

    25.0

    n/m

    Net loan (charge-offs)/recoveries

    (3)

    (1)

    n/m

    n/m

    Allowance for credit losses - acquired portfolio (3)

    $

    9

    $

    7

    $

    7

    28.6

    28.6

    Allowance for Credit Losses - Total Portfolio

    Balance at dawn of period

    $

    180

    $

    178

    $

    175

    1.1

    2.9

    Provision for credit losses

    14

    15

    14

    (6.7)

    Net loan (charge-offs)/recoveries

    (8)

    (13)

    (10)

    (38.5)

    (20.0)

    Total allowance for credit losses

    $

    186

    $

    180

    $

    179

    3.3

    3.9

    Allowance for credit losses / total loans and leases

    0.82

    %

    0.81

    %

    0.84

    %

    Net loan charge-offs (annualized) / total middling loans and leases

    0.14

    %

    0.24

    %

    0.20

    %

    (1)

    Does not embrace loans acquired in a commerce combination at impartial value ("acquired portfolio").

    (2)

    "Originated Portfolio" or "Originated Loans and Leases" equals loans and leases not included by definition in the Acquired Portfolio.

    (3)

    "Acquired Portfolio" or "Loans Acquired in a commerce Combination" equals loans acquired at impartial value, accounted for in accordance with ASC 805. The risk of credit loss on these loans has been considered by virtue of their assay of acquisition-date impartial value and these loans are considered accruing as they primarily recognize interest income through accretion of the contrast between the carrying value of these loans and their expected cash flows.  Because loans acquired in a commerce combination are initially recorded at an amount estimated to breathe collectible, losses on such loans, when incurred, are first applied against the non-accretable contrast established in purchase accounting and then to any allowance for credit losses recognized subsequent to acquisition.

    F.N.B. CORPORATION AND SUBSIDIARIES

    (Unaudited)

    (Dollars in thousands, except per partake data)

    RECONCILIATIONS OF NON-GAAP monetary MEASURES AND KEY PERFORMANCE INDICATORS TO GAAP

    We believe the following non-GAAP monetary measures provide information useful to investors in understanding their operating performance and trends, and facilitate comparisons with the performance of their peers.  The non-GAAP monetary measures they expend may vary from the non-GAAP monetary measures other monetary institutions expend to measure their results of operations.  Non-GAAP monetary measures should breathe viewed in addition to, and not as an alternative for, their reported results prepared in accordance with U.S. GAAP.  The following tables summarize the non-GAAP monetary measures included in this press release and derived from amounts reported in their monetary statements.

    % Variance

    1Q19

    1Q19

    Operating net income available to common stockholders:

    1Q19

    4Q18

    1Q18

    4Q18

    1Q18

    Net income available to common stockholders

    $

    92,117

    $

    98,116

    $

    84,752

    Branch consolidation costs

    1,634

    Tax benefit of offshoot consolidation costs

    (343)

    Operating net income available to common stockholders (non-GAAP)

    $

    93,408

    $

    98,116

    $

    84,752

    (4.8)

    10.2

    Operating earnings per diluted common share:

    Earnings per diluted common share

    $

    0.28

    $

    0.30

    $

    0.26

    Branch consolidation costs

    0.01

    Tax benefit of offshoot consolidation costs

    Operating earnings per diluted common share

    (non-GAAP)

    $

    0.29

    $

    0.30

    $

    0.26

    (3.3)

    11.5

    F.N.B. CORPORATION AND SUBSIDIARIES

    (Unaudited)

    (Dollars in thousands, except per partake data)

    1Q19

    4Q18

    1Q18

    Return on middling tangible equity:

    Net income (annualized)

    $

    381,738

    $

    397,244

    $

    351,867

    Amortization of intangibles, net of tax (annualized)

    11,147

    11,966

    13,513

    Tangible net income (annualized) (non-GAAP)

    $

    392,885

    $

    409,210

    $

    365,380

    Average total stockholders' equity

    $

    4,652,243

    $

    4,553,910

    $

    4,430,269

    Less:  middling intangibles (1)

    (2,331,623)

    (2,329,088)

    (2,339,783)

    Average tangible stockholders' equity (non-GAAP)

    $

    2,320,620

    $

    2,224,822

    $

    2,090,486

    Return on middling tangible equity (non-GAAP)

    16.93

    %

    18.39

    %

    17.48

    %

    Return on middling tangible common equity:

    Net income available to common stockholders (annualized)

    $

    373,586

    $

    389,265

    $

    343,716

    Amortization of intangibles, net of tax (annualized)

    11,147

    11,966

    13,513

    Tangible net income available to common stockholders (annualized) (non-GAAP)

    $

    384,733

    $

    401,231

    $

    357,229

    Average total stockholders' equity

    $

    4,652,243

    $

    4,553,910

    $

    4,430,269

    Less:  middling preferred stockholders' equity

    (106,882)

    (106,882)

    (106,882)

    Less:  middling intangibles (1)

    (2,331,623)

    (2,329,088)

    (2,339,783)

    Average tangible common equity (non-GAAP)

    $

    2,213,738

    $

    2,117,940

    $

    1,983,604

    Return on middling tangible common equity (non-GAAP)

    17.38

    %

    18.94

    %

    18.01

    %

    Return on middling tangible assets:

    Net income (annualized)

    $

    381,738

    $

    397,244

    $

    351,867

    Amortization of intangibles, net of tax (annualized)

    11,147

    11,966

    13,513

    Tangible net income (annualized) (non-GAAP)

    $

    392,885

    $

    409,210

    $

    365,380

    Average total assets

    $

    33,390,202

    $

    32,692,854

    $

    31,494,506

    Less:  middling intangibles (1)

    (2,331,623)

    (2,329,088)

    (2,339,783)

    Average tangible assets (non-GAAP)

    $

    31,058,579

    $

    30,363,766

    $

    29,154,723

    Return on middling tangible assets (non-GAAP)

    1.26

    %

    1.35

    %

    1.25

    %

    Tangible reserve value per common share:

    Total stockholders' equity

    $

    4,679,959

    $

    4,608,285

    $

    4,433,453

    Less:  preferred stockholders' equity

    (106,882)

    (106,882)

    (106,882)

    Less:  intangibles (1)

    (2,329,896)

    (2,333,375)

    (2,339,139)

    Tangible common equity (non-GAAP)

    $

    2,243,181

    $

    2,168,028

    $

    1,987,432

    Common shares outstanding

    324,515,913

    324,314,529

    323,686,993

    Tangible reserve value per common partake (non-GAAP)

    $

    6.91

    $

    6.68

    $

    6.14

    (1) Excludes loan servicing rights

    F.N.B. CORPORATION AND SUBSIDIARIES

    (Unaudited)

    (Dollars in thousands)

    1Q19

    4Q18

    1Q18

    Tangible equity / tangible assets (period end):

    Total stockholders' equity

    $

    4,679,959

    $

    4,608,285

    $

    4,433,453

    Less:  intangibles (1)

    (2,329,896)

    (2,333,375)

    (2,339,139)

    Tangible equity (non-GAAP)

    $

    2,350,063

    $

    2,274,910

    $

    2,094,314

    Total assets

    $

    33,695,411

    $

    33,101,840

    $

    31,652,353

    Less:  intangibles (1)

    (2,329,896)

    (2,333,375)

    (2,339,139)

    Tangible assets (non-GAAP)

    $

    31,365,515

    $

    30,768,465

    $

    29,313,214

    Tangible equity / tangible assets (period end) (non-GAAP)

    7.49

    %

    7.39

    %

    7.14

    %

    Tangible common equity / tangible assets (period end):

    Total stockholders' equity

    $

    4,679,959

    $

    4,608,285

    $

    4,433,453

    Less:  preferred stockholders' equity

    (106,882)

    (106,882)

    (106,882)

    Less:  intangibles(1)

    (2,329,896)

    (2,333,375)

    (2,339,139)

    Tangible common equity (non-GAAP)

    $

    2,243,181

    $

    2,168,028

    $

    1,987,432

    Total assets

    $

    33,695,411

    $

    33,101,840

    $

    31,652,353

    Less:  intangibles (1)

    (2,329,896)

    (2,333,375)

    (2,339,139)

    Tangible assets (non-GAAP)

    $

    31,365,515

    $

    30,768,465

    $

    29,313,214

    Tangible common equity / tangible assets (period end) (non-GAAP)

    7.15

    %

    7.05

    %

    6.78

    %

    KEY PERFORMANCE INDICATORS

    Efficiency ratio (FTE):

    Total non-interest expense

    $

    165,742

    $

    169,707

    $

    171,083

    Less:  amortization of intangibles

    (3,479)

    (3,818)

    (4,218)

    Less:  OREO expense

    (1,069)

    (1,267)

    (1,367)

    Less:  offshoot consolidation costs

    (458)

    Adjusted non-interest expense

    $

    160,736

    $

    164,622

    $

    165,498

    Net interest income

    $

    230,593

    $

    232,242

    $

    226,105

    Taxable equivalent adjustment

    3,579

    3,447

    3,103

    Non-interest income

    65,385

    68,425

    67,503

    Less:  net securities gains

    (3)

    Add:  offshoot consolidation costs

    1,176

    Adjusted net interest income (FTE) + non-interest income

    $

    300,733

    $

    304,111

    $

    296,711

    Efficiency ratio (FTE) (non-GAAP)

    53.45

    %

    54.13

    %

    55.78

    %

    (1) Excludes loan servicing rights

    SOURCE F.N.B. Corporation

    Related Links

    http://www.fnbcorporation.com



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