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F.N.B. Corporation Reports Fourth Quarter and Full Year 2012 Results

     F.N.B. Corporation Reports Fourth Quarter and Full Year 2012 Results

PR Newswire

HERMITAGE, Pa., Jan. 23, 2013

HERMITAGE, Pa., Jan. 23, 2013 /PRNewswire/ --F.N.B. Corporation (NYSE: FNB)
today reported fourth quarter and full year 2012 financial results. Net income
for the fourth quarter of 2012 was $29.0 million, or $0.21 per diluted share,
compared with fourth quarter of 2011 net income of $23.7 million, or $0.19 per
diluted share, and third quarter of 2012 net income of $30.7 million, or $0.22
per diluted share. Fourth quarter 2012 net income included litigation
settlement costs of $2.0 million (after-tax) and branch consolidation costs of
$1.2 million (after-tax), which on a combined basis reduced earnings by $0.02
per diluted share. Third quarter 2012 net income included a gain on the sale
of a building of $0.9 million (after-tax) or $0.01 per diluted share.

Net income for the full year of 2012 totaled $110.4 million, or $0.79 per
diluted share, compared to $87.0 million, or $0.70 per diluted share, for
2011. Full year 2012 net income included merger and severance costs of $5.2
million (after-tax), litigation settlement costs of $2.0 million (after-tax),
branch consolidation costs of $1.2 million (after-tax), and a gain on the
sale of a building of $0.9 million (after-tax), which on a combined basis
reduced earnings by $0.05 per diluted share. Full year 2011 net income
included merger costs of $3.2 million (after-tax), or $0.02 per diluted share.
Adjusting for these items, adjusted net income for the full year of 2012
totaled $117.8 million, or $0.84 per diluted share, compared to adjusted net
income of $90.3 million, or $0.72 per diluted share, for 2011.

Vincent J. Delie, President and Chief Executive Officer, commented, "The
fourth quarter was a great finish to a very successful year. The highlight of
our solid operating performance is the consistent growth of our loan
portfolios. Through the efforts of our experienced team of bankers, we have
accomplished fourteen consecutive quarters of organic total loan growth. Both
the commercial and consumer portfolios achieved record fourth quarter loan
production levels. We remained focused on gaining market share and attracting
customers, while maintaining our high-quality underwriting standards as
demonstrated by our solid asset quality results."

Mr. Delie continued, "We are also very pleased to report record net income for
the full year of 2012. Revenue growth, profitability and asset quality trends
were favorable. This positive momentum and the completion of a number of
important strategic accomplishments has FNB well positioned for 2013."

Fourth Quarter 2012 Highlights

  oAdjusted fourth quarter net income was $0.23 per diluted share^^[1]
  oThe net interest margin was 3.66%
  oAverage total loans grew $119.6 million, or 6.0% annualized, representing
    the fourteenth consecutive quarter of organic total loan growth
  oAverage core commercial loans (excluding Florida loans) grew $88.7 million
    or 8.4% annualized, representing the fifteenth consecutive linked quarter
    of organic growth for this portfolio
  oAverage consumer loans grew $72.6 million or 11.7% annualized
  oAverage transaction deposits and customer repurchase agreements grew
    $215.0 million or 11.9% annualized
  oThe efficiency ratio was 55.5%
  oNet charge-offs totaled $7.6 million or 0.45% annualized of average
    originated loans
  oNon-performing loans and other real estate owned (OREO) as a percentage of
    total originated loans and OREO improved 9 basis points to 1.60%

F.N.B. Corporation's performance ratios for the fourth quarter of 2012 were as
follows: return on average tangible equity (non-GAAP measure) was 17.68%;
return on average equity was 8.23%; return on average tangible assets
(non-GAAP measure) was 1.07% and return on average assets was 0.96%.
Reconciliations of non-GAAP measures used in this press release to their most
directly comparable GAAP measures are included in the tables that accompany
this press release.

Fourth Quarter 2012 Results
(All comparisons refer to the third quarter of 2012, except as noted)

Net Interest Income
Net interest income on a fully taxable equivalent basis totaled $95.7 million
in the fourth quarter of 2012 compared to $95.4 million in the prior quarter.
Both quarters included a benefit from accretable yield resulting from better
than expected cash flows on acquired loans totaling $2.6 million in the fourth
quarter of 2012 and $1.4 million in the third quarter of 2012. The fourth
quarter net interest margin of 3.66% narrowed 4 basis points from 3.70%,
reflecting the current interest rate environment and the resulting lower
earning asset yields, partially offset by the lower cost of funds and higher
accretable yield.

Average loans totaled $8.0 billion and grew $119.6 million or 6.0% annualized.
Growth in the core commercial portfolio^^[2] continued, with average balances
increasing $88.7 million, or 8.4% annualized, reflecting FNB's consistent
ability to build market share as commercial line utilization rates remained
consistent with the prior quarter at historically low levels. This represents
the fifteenth consecutive quarter of organic growth for this portfolio with an
average quarterly organic growth rate of 6.7% over the 15-quarter period.
Average consumer loan growth (consisting of direct, consumer lines of credit
and indirect loans) was also strong with balances increasing $72.6 million, or
11.7% annualized, driven by growth in home equity-related loans (direct loans
and consumer lines of credit) through a continued focus across our branch
network to capitalize on consumer preferences for these products.

Total average deposits and customer repurchase agreements totaled $10.0
billion and grew $140.5 million, or 5.7% annualized. Growth in lower cost
transaction deposit accounts and customer repurchase agreements remained
strong, increasing $215.0 million, or 11.9% annualized, as a result of
successful new account acquisition and higher average balances. Growth in
transaction accounts and customer repurchase agreements was partially offset
by a continued planned decline in time deposits due to the lower offered rate
environment. As of December 31, 2012, FNB's total customer-based funding was
97% of total deposits and borrowings, consistent with 98% as of September 30,
2012. Loans as a percentage of total deposits and customer repurchase
agreements were 82%, compared to 80% at September 30, 2012. Transaction-based
deposits and customer repurchase agreements represent 74% of total deposits
and customer repurchase agreements at December 31, 2012.

Non-Interest Income
Non-interest income totaled $32.1 million in the fourth quarter of 2012,
decreasing $2.7 million or 7.7%. The decline compared to the prior quarter
primarily reflects $1.7 million accrued for expected losses on asset disposals
related to the consolidation of twenty branch locations during the fourth
quarter and a benefit in the third quarter resulting from a $1.4 million gain
on the sale of a building. The previously announced branch consolidation was
undertaken as part of an overall branch optimization strategy and going
forward is expected to result in annual pre-tax cost savings of approximately
$4.0 million. Securities commissions and fees and trust income increased 7.2%
and 2.6%, respectively, primarily as a result of increased sales activity.
Gains on the sale of loans increased modestly by 1.3% due to increased volume.
The decline in insurance commissions and fees reflects normal seasonal trends.

Non-Interest Expense
Non-interest expense totaled $76.6 million in the fourth quarter of 2012,
declining $0.5 million, or 0.6%. The fourth quarter included the previously
disclosed $3.0 million in litigation costs to establish a settlement fund.
Offsetting this item were lower OREO costs due to a $1.5 million recovery on a
Florida property sale and lower personnel costs due to favorable medical
insurance claims. The efficiency ratio improved to 55.5% from 57.4%.

Credit Quality
Credit quality results for the fourth quarter of 2012 reflect continued solid
performance. The provision for loan losses equaled $9.3 million for the fourth
quarter of 2012, compared to $8.4 million in the prior quarter, with the
increase primarily reflecting reserves to support the strong, high-quality
loan growth during the quarter.

The ratio of the allowance for loan losses to total originated loans was
1.39%, compared to 1.43% at September 30, 2012. The ratio of the allowance for
loan losses to total non-performing loans increased to 124% compared to 120%
at September 30, 2012.

Charge-off performance continued to be good with net charge-offs for the
fourth quarter totaling $7.6 million or 0.38% annualized. The ratio of
non-performing loans and OREO to total loans and OREO improved 6 basis points
over the prior quarter to 1.42% at December 31, 2012. For the originated
portfolio, the ratio of non-performing loans and OREO to total originated
loans and OREO improved 9 basis points to 1.60% at December 31, 2012. Total
delinquency (total past due and non-accrual loans) to total originated loans
improved 2 basis points to 1.64% at December 31, 2012.

Capital Position
The Corporation's capital levels at December 31, 2012 continue to exceed
federal bank regulatory agency "well capitalized" thresholds. Regulatory
capital ratios at December 31, 2012 (estimated) are consistent with September
30, 2012 ratios. At December 31, 2012, the estimated total risk-based capital
ratio was unchanged at 12.2%, the estimated tier 1 risk-based capital ratio
was 10.7% compared to 10.6%, and the leverage ratio was 8.29% compared to
8.24%.

At December 31, 2012, the tangible equity to tangible assets ratio (non-GAAP
measure) increased to 6.09% from 6.01% and the tangible book value per share
(non-GAAP measure) increased to $4.92 from $4.85.

The dividend payout ratio for the fourth quarter of 2012 was 59% and 61% for
the full year of 2012.

Full Year 2012 Results
(All comparisons refer to the prior full year, except as noted)

Full year 2012 results include the impact from the Parkvale acquisition
completed on January 1, 2012.

F.N.B. Corporation's full year net income totaled $110.4 million, or $0.79 per
diluted share, improved from $87.0 million, or $0.70 per diluted share. Return
on average tangible equity (non-GAAP measure) equaled 17.64% compared to
15.76%, return on average equity was 8.02% compared to 7.36%, return on
average tangible assets (non-GAAP measure) was 1.05% compared to 0.99%, and
return on average assets was 0.94% compared to 0.88%.

Net interest income on a fully taxable equivalent basis totaled $380.2
million, an increase of $55.8 million or 17.2%, reflecting 19.2% growth in
average earning assets and the benefit of $5.9 million in accretable yield,
partially offset by a 6 basis point narrowing of the net interest margin. The
growth in earning assets reflects a combination of organic growth and the
Parkvale acquisition. Average total loans grew 18.1%, with organic total loan
growth of 4.3%, reflecting strong organic growth of 8.0% in the core
commercial portfolio, as well as organic consumer loan growth of 7.4%. Average
deposits and customer repurchase agreements grew 22.1%, with organic growth of
3.1%. Transaction deposits and customer repurchase agreements grew 23.7%, with
organic growth of 9.6% representing successful new customer acquisition and
higher average balances.

Non-interest income totaled $131.5 million, increasing $11.5 million, or 9.6%.
Included in the full year of 2012 was $1.7 million accrued for expected losses
on asset disposals related to the consolidation of twenty branch locations
during the fourth quarter of 2012 and a $1.4 million gain on the sale of a
building. The increase in non-interest income excluding these items primarily
reflects the benefit of the Parkvale acquisition and organic revenue growth.
Service charges increased $8.2 million, or 13.2%, reflecting higher volume,
organic growth and the expanded customer base due to the Parkvale acquisition.
Insurance commissions and fees increased $1.2 million, or 8.2%. Wealth
management revenue (comprised of securities commissions and fees and trust
income) grew $1.3 million or 5.8% as a result of an increased number of sales
professionals and higher sales activity, more favorable market conditions and
the benefit of the Parkvale acquisition. Gain on the sale of loans increased
$1.1 million or 40.4% as a result of increased volume.

Non-interest expense totaled $318.8 million, an increase of $35.1 million, or
12.4%, primarily due to adding Parkvale-related operating costs, a net
increase of $3.0 million in merger and severance costs and $3.0 million in
litigation costs to establish a settlement fund in accordance with the
previously disclosed lawsuit.

Total revenue growth of $67.4 million, or 15.2%, exceeded non-interest expense
growth of $35.1 million or 12.4%. F.N.B. Corporation's 2012 efficiency ratio
improved to 57.7% compared to 59.7%.

Credit quality results continued to trend positively throughout 2012 and
compare favorably to full year 2011, reflecting continued solid performance
for all portfolios. Provision for loan losses was $31.3 million, improving
$2.3 million primarily due to lower provision in the Florida portfolio
partially offset by $4.2 million in provision for the acquired portfolio. Net
charge-off results improved 23 basis points to 0.35% of total average loans.
The ratio of the allowance for loan losses to total originated loans equaled
1.39% at December 31, 2012, compared to 1.54% at December 31, 2011, with the
decline directionally consistent with the overall favorable credit quality
performance as well as reserves to support the solid loan growth experienced
in 2012.

Conference Call
F.N.B. Corporation will host its quarterly conference call to discuss fourth
quarter and full year 2012 financial results on Thursday, January 24, 2013 at
10:00 a.m. Eastern Time. Participating callers may access the call by dialing
(888) 427-9376 or (719) 325-2435 for international callers; the confirmation
number is 4816875. The Webcast and presentation materials may be accessed
through the "Shareholder and Investor Relations" section of the Corporation's
Web site at www.fnbcorporation.com.

A replay of the call will be available from 1:00 p.m. Eastern Time the day of
the call until midnight Eastern Time on Thursday, January 31, 2013. The replay
is accessible by dialing (877) 870-5176 or (858) 384-5517 for international
callers; the confirmation number is 4816875. The call transcript and Webcast
will be available on the "Shareholder and Investor Relations" section of
F.N.B. Corporation's Web site at www.fnbcorporation.com.

About F.N.B. Corporation
F.N.B. Corporation, headquartered in Hermitage, PA, is a diversified financial
services company with total assets of $12.0 billion. F.N.B. Corporation is a
leading provider of commercial and retail banking, leasing, wealth management,
insurance, merchant banking and consumer finance services in Pennsylvania,
Ohio and West Virginia, where it owns and operates First National Bank of
Pennsylvania, First National Trust Company, First National Investment Services
Company, LLC, F.N.B. Investment Advisors, Inc., First National Insurance
Agency, LLC, F.N.B. Capital Corporation, LLC, Regency Finance Company and
F.N.B. Commercial Leasing. It also operates consumer finance offices in
Kentucky and Tennessee.

Cautionary Statement Regarding Forward-looking Information
We make statements in this press release and related conference call, and may
from time to time make other statements, regarding our outlook for earnings,
revenues, expenses, capital levels, liquidity levels, asset levels, asset
quality and other matters regarding or affecting F.N.B. Corporation and its
future business and operations that are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act. Forward-looking
statements are typically identified by words such as "believe," "plan,"
"expect," "anticipate," "see," "look," "intend," "outlook," "project,"
"forecast," "estimate," "goal," "will," "should" and other similar words and
expressions. Forward-looking statements are subject to numerous assumptions,
risks and uncertainties, which change over time.

Forward-looking statements speak only as of the date made. We do not assume
any duty and do not undertake to update forward-looking statements. Actual
results or future events could differ, possibly materially, from those
anticipated in forward-looking statements, as well as from historical
performance.

Our forward-looking statements are subject to the following principal risks
and uncertainties:

  oOur businesses, financial results and balance sheet values are affected by
    business and economic conditions, including the following:

       oChanges in interest rates and valuations in debt, equity and other
         financial markets.
       oDisruptions in the liquidity and other functioning of U.S. and global
         financial markets.
       oActions by the Federal Reserve, U.S. Treasury and other government
         agencies, including those that impact money supply and market
         interest rates.
       oChanges in customers', suppliers' and other counterparties'
         performance and creditworthiness which adversely affect loan
         utilization rates, delinquencies, defaults and counterparty ability
         to meet credit and other obligations.
       oSlowing or failure of the current moderate economic recovery and
         persistence or worsening levels of unemployment.
       oChanges in customer preferences and behavior, whether due to changing
         business and economic conditions, legislative and regulatory
         initiatives, or other factors.

  oLegal and regulatory developments could affect our ability to operate our
    businesses, financial condition, results of operations, competitive
    position, reputation, or pursuit of attractive acquisition opportunities.
    Reputational impacts could affect matters such as business generation and
    retention, liquidity, funding, and ability to attract and retain
    management. These developments could include:

       oChanges resulting from legislative and regulatory reforms, including
         broad-based restructuring of financial industry regulation; changes
         to laws and regulations involving tax, pension, bankruptcy, consumer
         protection, and other industry aspects; and changes in accounting
         policies and principles. We will continue to be impacted by
         extensive reforms provided for in the Dodd-Frank Wall Street Reform
         and Consumer Protection Act and otherwise growing out of the recent
         financial crisis, the precise nature, extent and timing of which, and
         their impact on us, remains uncertain.
       oChanges to regulations governing bank capital and liquidity
         standards, including due to the Dodd-Frank Act and to Basel III
         initiatives.
       oImpact on business and operating results of any costs associated with
         obtaining rights in intellectual property, the adequacy of our
         intellectual property protection in general and rapid technological
         developments and changes. Our ability to anticipate and respond to
         technological changes can also impact our ability to respond to
         customer needs and meet competitive demands.

  oBusiness and operating results are affected by our ability to identify and
    effectively manage risks inherent in our businesses, including, where
    appropriate, through effective use of third-party insurance, derivatives,
    swaps, and capital management techniques, and to meet evolving regulatory
    capital standards.
  oIncreased competition, whether due to consolidation among financial
    institutions; realignments or consolidation of branch offices, legal and
    regulatory developments, industry restructuring or other causes, can have
    an impact on customer acquisition, growth and retention and on credit
    spreads and product pricing, which can affect market share, deposits and
    revenues.
  oAs demonstrated by our Parkvale and Annapolis Bancorp, Inc. acquisitions,
    we grow our business in part by acquiring from time to time other
    financial services companies, financial services assets and related
    deposits. These acquisitions often present risks and uncertainties,
    including, the possibility that the transaction cannot be consummated;
    regulatory issues; cost, or difficulties, involved in integration and
    conversion of the acquired businesses after closing; inability to realize
    expected cost savings, efficiencies and strategic advantages; the extent
    of credit losses in acquired loan portfolios and extent of deposit
    attrition; and the potential dilutive effect to our current shareholders.
    In addition, with respect to the pending acquisition of Annapolis Bancorp,
    Inc., F.N.B. Corporation may experience difficulties in expanding into a
    new market area, including retention of customers and key personnel of
    Annapolis Bancorp, Inc. and its subsidiary BankAnnapolis.
  oCompetition can have an impact on customer acquisition, growth and
    retention and on credit spreads and product pricing, which can affect
    market share, deposits and revenues. Industry restructuring in the
    current environment could also impact our business and financial
    performance through changes in counterparty creditworthiness and
    performance and the competitive and regulatory landscape. Our ability to
    anticipate and respond to technological changes can also impact our
    ability to respond to customer needs and meet competitive demands.
  oBusiness and operating results can also be affected by widespread
    disasters, dislocations, terrorist activities or international hostilities
    through their impacts on the economy and financial markets.

We provide greater detail regarding some of these factors in our 2011 Form
10-K and 2012 Form 10-Qs, including the Risk Factors section of those reports,
and our subsequent SEC filings. Our forward-looking statements may also be
subject to other risks and uncertainties, including those we may discuss
elsewhere in this news release or in SEC filings, accessible on the SEC's
website at www.sec.gov and on our corporate website at
www.fnbcorporation.com. We have included these web addresses as inactive
textual references only. Information on these websites is not part of this
document.

^^[1] Adjusted for litigation settlement costs of $2.0 million (after-tax) and
branch consolidation costs of $1.2 million (after-tax).

^^[2] Total commercial loans excluding the Florida portfolio

DATA SHEETS FOLLOW



F.N.B. CORPORATION
(Unaudited)
(Dollars in thousands, except per share data)
                                                            4Q12 -    4Q12 -
                     2012                      2011         3Q12      4Q11
                     Fourth       Third        Fourth       Percent   Percent
Statement of         Quarter      Quarter      Quarter      Variance  Variance
earnings
Interest income     $107,578     $107,756     $96,897      -0.2      11.0
Interest expense     13,660       14,225       16,768       -4.0      -18.5
 Net interest      93,918       93,531       80,129       0.4       17.2
income
Taxable equivalent   1,798        1,852        1,922        -2.9      -6.5
adjustment
 Net interest      95,716       95,383       82,051       0.3       16.7
income (FTE) (1)
Provision for loan   9,274        8,429        8,289        10.0      11.9
losses
 Net interest
income after         86,442       86,954       73,762       -0.6      17.2
provision (FTE)
Impairment losses on (506)        (440)        (422)        n/m       n/m
securities
Non-credit related
losses on securities
not
 expected to be
sold (recognized in
other
 comprehensive     413          321          393          n/m       n/m
income)
Net impairment       (93)         (119)        (29)         n/m       n/m
losses on securities
Service charges      17,636       17,666       15,833       -0.2      11.4
Insurance            3,794        4,578        3,373        -17.1     12.5
commissions and fees
Securities           2,252        2,102        1,602        7.2       40.6
commissions and fees
Trust income         3,880        3,783        3,560        2.6       9.0
Gain on sale of      3            (66)         3,511        -104.1    -99.9
securities
Gain on sale of      1,191        1,176        968          1.3       23.1
loans
Other                3,464        5,693        3,780        -39.2     -8.4
 Total             32,127       34,813       32,598       -7.7      -1.4
non-interest income
Salaries and         40,964       41,579       37,758       -1.5      8.5
employee benefits
Occupancy and        11,676       11,568       10,205       0.9       14.4
equipment
Amortization of      2,243        2,242        1,819        0.0       23.3
intangibles
Other real estate    (631)        796          231          -179.4    -372.9
owned
FHLB prepayment      0            0            3,328        n/m       n/m
penalty
Other                22,340       20,897       18,250       6.9       22.4
 Total             76,592       77,082       71,591       -0.6      7.0
non-interest expense
Income before income 41,977       44,685       34,769       -6.1      20.7
taxes
Taxable equivalent   1,798        1,852        1,922        -2.9      -6.5
adjustment
Income taxes         11,224       12,090       9,110        -7.2      23.2
 Net income        $28,955      $30,743      $23,737      -5.8      22.0
Earnings per share:
 Basic             $0.21        $0.22        $0.19        -4.5      10.5
 Diluted           $0.21        $0.22        $0.19        -4.5      10.5
Performance ratios
Return on average    8.23%        8.83%        7.72%
equity
Return on average
tangible equity (2)  17.68%       19.10%       15.94%
(4)
Return on average    0.96%        1.03%        0.95%
assets
Return on average
tangible assets (3)  1.07%        1.15%        1.06%
(4)
Net interest margin  3.66%        3.70%        3.79%
(FTE) (1)
Yield on earning     4.18%        4.25%        4.56%
assets (FTE) (1)
Cost of funds        0.63%        0.66%        0.92%
Efficiency ratio     55.45%       57.40%       59.27%
(FTE) (1) (5)
Effective tax rate   27.94%       28.23%       27.73%
Common stock data
Average basic shares 139,317,031  139,228,812  126,566,483  0.1       10.1
outstanding
Average diluted      140,923,088  140,764,052  127,615,744  0.1       10.4
shares outstanding
Ending shares        139,929,242  139,792,727  127,220,759  0.1       10.0
outstanding
Book value per share $10.02       $9.98        $9.51        0.4       5.3
Tangible book value  $4.92        $4.85        $4.80        1.5       2.5
per share (4)
Dividend payout      58.51%       55.07%       65.60%
ratio





F.N.B. CORPORATION
(Unaudited)
(Dollars in thousands, except per share data)
                                            For the Year
                                            Ended December 31,        Percent
Statement of earnings                       2012         2011         Variance
Interest income                            $431,906     $391,125     10.4
Interest expense                            59,055       74,617       -20.9
 Net interest income                      372,851      316,508      17.8
Taxable equivalent adjustment               7,382        7,895        -6.5
 Net interest income (FTE) (1)            380,233      324,403      17.2
Provision for loan losses                   31,302       33,641       -7.0
 Net interest income after provision      348,931      290,762      20.0
(FTE)
Impairment losses on securities             (946)        (895)        n/m
Non-credit related losses on securities
not
 expected to be sold (recognized in
other
 comprehensive income)                    734          829          n/m
Net impairment losses on securities         (212)        (66)         n/m
Service charges                             70,055       61,891       13.2
Insurance commissions and fees              16,426       15,185       8.2
Securities commissions and fees             8,395        7,562        11.0
Trust income                                15,239       14,782       3.1
Gain on sale of securities                  305          3,652        -91.7
Gain on sale of loans                       3,887        2,768        40.4
Other                                       17,368       14,144       22.8
 Total non-interest income                131,463      119,918      9.6
Salaries and employee benefits              168,219      149,817      12.3
Occupancy and equipment                     46,898       40,838       14.8
Amortization of intangibles                 9,135        7,228        26.4
Other real estate owned                     3,268        5,217        -37.4
FHLB prepayment penalty                     0            3,328        0.0
Other                                       91,309       77,306       18.1
 Total non-interest expense               318,829      283,734      12.4
Income before income taxes                  161,565      126,946      27.3
Taxable equivalent adjustment               7,382        7,895        -6.5
Income taxes                                43,773       32,004       36.8
 Net income                               $110,410     $87,047      26.8
Earnings per share:
 Basic                                    $0.79        $0.70        12.9
 Diluted                                  $0.79        $0.70        12.9
Performance ratios
Return on average equity                    8.02%        7.36%
Return on average tangible equity (2) (4)   17.64%       15.76%
Return on average assets                    0.94%        0.88%
Return on average tangible assets (3) (4)   1.05%        0.99%
Net interest margin (FTE) (1)              3.73%        3.79%
Yield on earning assets (FTE) (1)           4.30%        4.66%
Cost of funds                               0.68%        1.02%
Efficiency ratio (FTE) (1) (5)              57.73%       59.71%
Effective tax rate                          28.39%       26.88%
Common stock data
Average basic shares outstanding            139,135,272  124,145,924  12.1
Average diluted shares outstanding          140,640,165  125,012,078  12.5
Ending shares outstanding                   139,929,242  127,220,759  10.0
Book value per share                        $10.02       $9.51        5.3
Tangible book value per share (4)           $4.92        $4.80        2.5
Dividend payout ratio                       61.27%       69.72%





F.N.B. CORPORATION
(Unaudited)
(Dollars in thousands)
                                                            4Q12 -    4Q12 -
                      2012                      2011        3Q12      4Q11
                      Fourth       Third        Fourth      Percent   Percent
Balance Sheet (at     Quarter      Quarter      Quarter     Variance  Variance
period end)
Assets
Cash and due from     $216,233     $203,503     $197,349    6.3       9.6
banks
Interest bearing      22,811       164,091      11,604      -86.1     96.6
deposits with banks
 Cash and cash      239,044      367,594      208,953     -35.0     14.4
equivalents
Securities available  1,172,683    1,112,839    640,571     5.4       83.1
for sale
Securities held to    1,106,563    1,151,743    917,212     -3.9      20.6
maturity
Residential mortgage  27,751       21,575       14,275      28.6      94.4
loans held for sale
Loans, net of         8,137,719    7,979,450    6,856,667   2.0       18.7
unearned income
Allowance for loan    (104,374)    (102,714)    (100,662)   1.6       3.7
losses
 Net loans          8,033,345    7,876,736    6,756,005   2.0       18.9
Premises and          140,367      145,043      130,043     -3.2      7.9
equipment, net
Goodwill              675,555      677,168      568,462     -0.2      18.8
Core deposit and
other intangible      37,851       40,095       30,953      -5.6      22.3
assets, net
Bank owned life       246,088      239,615      208,927     2.7       17.8
insurance
Other assets          344,729      352,483      311,082     -2.2      10.8
Total Assets          $12,023,976  $11,984,891  $9,786,483  0.3       22.9
Liabilities
Deposits:
 Non-interest       $1,738,195   $1,735,857   $1,340,465  0.1       29.7
bearing demand
 Savings and NOW    4,808,121    4,764,148    3,790,863   0.9       26.8
 Certificates and   2,535,858    2,625,818    2,158,440   -3.4      17.5
other time deposits
 Total Deposits  9,082,174    9,125,823    7,289,768   -0.5      24.6
Other liabilities     163,151      150,152      143,239     8.7       13.9
Short-term borrowings 1,083,138    1,019,411    851,294     6.3       27.2
Long-term debt        89,425       90,501       88,016      -1.2      1.6
Junior subordinated   204,019      204,006      203,967     0.0       0.0
debt
 Total Liabilities  10,621,907   10,589,893   8,576,284   0.3       23.9
Stockholders' Equity
Common stock          1,398        1,397        1,268       0.1       10.2
Additional paid-in    1,376,601    1,374,241    1,224,572   0.2       12.4
capital
Retained earnings     75,312       63,298       32,925      19.0      128.7
Accumulated other     (46,224)     (38,972)     (45,148)    18.6      2.4
comprehensive income
Treasury stock        (5,018)      (4,966)      (3,418)     1.0       46.8
 Total              1,402,069    1,394,998    1,210,199   0.5       15.9
Stockholders' Equity
Total Liabilities and $12,023,976  $11,984,891  $9,786,483  0.3       22.9
Stockholders' Equity
Selected average
balances
Total assets          $11,988,283  $11,842,204  $9,947,884  1.2       20.5
Earning assets       10,420,397   10,267,435   8,619,185   1.5       20.9
Securities            2,255,702    2,252,760    1,713,209   0.1       31.7
Interest bearing      116,885      86,501       69,713      35.1      67.7
deposits with banks
Loans, net of         8,047,810    7,928,174    6,836,263   1.5       17.7
unearned income
Allowance for loan    104,453      103,757      109,588     0.7       -4.7
losses
Goodwill and          715,962      714,501      599,352     0.2       19.5
intangibles
Deposits and customer
repurchase agreements 9,974,646    9,834,111    8,048,276   1.4       23.9
(6)
Short-term borrowings 156,197      159,843      171,555     -2.3      -9.0
Long-term debt        88,956       90,869       174,220     -2.1      -48.9
Trust preferred       204,012      203,999      203,960     0.0       0.0
securities
Shareholders' equity 1,400,430    1,385,282    1,219,575   1.1       14.8
Capital ratios
Equity / assets       11.66%       11.64%       12.37%
(period end)
Leverage ratio        8.29%        8.24%        9.15%
Tangible equity /
tangible assets       6.09%        6.01%        6.65%
(period end) (4)
Tangible equity,
excluding AOCI /
tangible
 assets (period     6.50%        6.36%        7.14%
end) (4) (7)





F.N.B. CORPORATION
(Unaudited)
(Dollars in thousands)
                                             For the Year
                                             Ended December 31,       Percent
Balance Sheet (at period end)                2012         2011        Variance
Assets
Cash and due from banks                      $216,233     $197,349    9.6
Interest bearing deposits with banks         22,811       11,604      96.6
 Cash and cash equivalents                 239,044      208,953     14.4
Securities available for sale                1,172,683    640,571     83.1
Securities held to maturity                  1,106,563    917,212     20.6
Residential mortgage loans held for sale     27,751       14,275      94.4
Loans, net of unearned income                8,137,719    6,856,667   18.7
Allowance for loan losses                    (104,374)    (100,662)   3.7
 Net loans                                 8,033,345    6,756,005   18.9
Premises and equipment, net                  140,367      130,043     7.9
Goodwill                                     675,555      568,462     18.8
Core deposit and other intangible assets,    37,851       30,953      22.3
net
Bank owned life insurance                    246,088      208,927     17.8
Other assets                                 344,729      311,082     10.8
Total Assets                                 $12,023,976  $9,786,483  22.9
Liabilities
Deposits:
 Non-interest bearing demand               $1,738,195   $1,340,465  29.7
 Savings and NOW                           4,808,121    3,790,863   26.8
 Certificates and other time deposits      2,535,858    2,158,440   17.5
 Total Deposits                         9,082,174    7,289,768   24.6
Other liabilities                            163,151      143,239     13.9
Short-term borrowings                        1,083,138    851,294     27.2
Long-term debt                               89,425       88,016      1.6
Junior subordinated debt                     204,019      203,967     0.0
 Total Liabilities                         10,621,907   8,576,284   23.9
Stockholders' Equity
Common stock                                 1,398        1,268       10.2
Additional paid-in capital                   1,376,601    1,224,572   12.4
Retained earnings                            75,312       32,925      128.7
Accumulated other comprehensive income       (46,224)     (45,148)    2.4
Treasury stock                               (5,018)      (3,418)     46.8
 Total Stockholders' Equity                1,402,069    1,210,199   15.9
Total Liabilities and Stockholders' Equity   $12,023,976  $9,786,483  22.9
Selected average balances
Total assets                                 $11,782,821  $9,871,164  19.4
Earning assets                              10,206,465   8,561,235   19.2
Securities                                   2,214,847    1,754,136   26.3
Interest bearing deposits with banks         94,719       118,731     -20.2
Loans, net of unearned income                7,896,899    6,688,368   18.1
Allowance for loan losses                    103,590      109,754     -5.6
Goodwill and intangibles                     717,031      599,851     19.5
Deposits and customer repurchase agreements  9,790,570    8,017,269   22.1
(6)
Short-term borrowings                        158,875      154,228     3.0
Long-term debt                               90,652       200,158     -54.7
Trust preferred securities                   203,471      203,950     -0.2
Shareholders' equity                        1,376,494    1,181,941   16.5
Capital ratios
Equity / assets (period end)                 11.66%       12.37%
Leverage ratio                               8.29%        9.15%
Tangible equity / tangible assets (period    6.09%        6.65%
end) (4)
Tangible equity, excluding AOCI / tangible
 assets (period end) (4) (7)               6.50%        7.14%





F.N.B. CORPORATION
(Unaudited)
(Dollars in thousands)
                                                            4Q12 -    4Q12 -
                       2012                     2011        3Q12      4Q11
                       Fourth      Third        Fourth      Percent   Percent
Balances at period end Quarter     Quarter      Quarter     Variance  Variance
Loans:
Commercial real        $2,707,046  $2,668,916   $2,495,727  1.4       8.5
estate
Commercial and         1,602,314   1,532,366    1,363,692   4.6       17.5
industrial
Commercial leases      130,133     127,065      110,795     2.4       17.5
 Commercial loans    4,439,493   4,328,347    3,970,214   2.6       11.8
and leases
Direct installment     1,178,530   1,128,310    1,029,187   4.5       14.5
Residential mortgages  1,092,228   1,121,237    670,936     -2.6      62.8
Indirect installment   582,037     583,939      540,789     -0.3      7.6
Consumer LOC           805,494     780,155      607,280     3.2       32.6
Other                  39,937      37,462       38,261      6.6       4.4
 Total loans         $8,137,719  $7,979,450   $6,856,667  2.0       18.7
Deposits:
Non-interest bearing   $1,738,195  $1,735,857   $1,340,465  0.1       29.7
deposits
Savings and NOW        4,808,121   4,764,148    3,790,863   0.9       26.8
Certificates of
deposit and other time 2,535,858   2,625,818    2,158,440   -3.4      17.5
deposits
 Total deposits      9,082,174   9,125,823    7,289,768   -0.5      24.6
Customer repurchase    807,820     885,749      646,660     -8.8      24.9
agreements (6)
 Total deposits and
customer repurchase    $9,889,994  $10,011,572  $7,936,428  -1.2      24.6
agreements (6)
Average balances
Loans:
Commercial real        $2,657,325  $2,632,843   $2,520,992  0.9       5.4
estate
Commercial and         1,567,340   1,512,872    1,311,648   3.6       19.5
industrial
Commercial leases      128,535     125,508      106,160     2.4       21.1
 Commercial loans    4,353,200   4,271,223    3,938,800   1.9       10.5
and leases
Direct installment     1,157,480   1,118,981    1,032,022   3.4       12.2
Residential mortgages  1,122,658   1,156,906    691,839     -3.0      62.3
Indirect installment   581,748     581,315      538,283     0.1       8.1
Consumer LOC           793,496     759,832      594,070     4.4       33.6
Other                  39,228      39,917       41,249      -1.7      -4.9
 Total loans         $8,047,810  $7,928,174   $6,836,263  1.5       17.7
Deposits:
Non-interest bearing   $1,742,328  $1,677,578   $1,339,484  3.9       30.1
deposits
Savings and NOW        4,786,688   4,700,328    3,809,265   1.8       25.7
Certificates of
deposit and other time 2,578,226   2,652,713    2,202,129   -2.8      17.1
deposits
 Total deposits      9,107,242   9,030,619    7,350,878   0.8       23.9
Customer repurchase    867,404     803,492      697,398     8.0       24.4
agreements (6)
 Total deposits and
customer repurchase    $9,974,646  $9,834,111   $8,048,276  1.4       23.9
agreements (6)





F.N.B. CORPORATION
(Unaudited)
(Dollars in thousands)
                                              For the Year
                                              Ended December 31,      Percent
Balances at period end                        2012        2011        Variance
Loans:
Commercial real estate                       $2,707,046  $2,495,727  8.5
Commercial and industrial                     1,602,314   1,363,692   17.5
Commercial leases                             130,133     110,795     17.5
 Commercial loans and leases                4,439,493   3,970,214   11.8
Direct installment                            1,178,530   1,029,187   14.5
Residential mortgages                         1,092,228   670,936     62.8
Indirect installment                          582,037     540,789     7.6
Consumer LOC                                  805,494     607,280     32.6
Other                                         39,937      38,261      4.4
 Total loans                                $8,137,719  $6,856,667  18.7
Deposits:
Non-interest bearing deposits                 $1,738,195  $1,340,465  29.7
Savings and NOW                               4,808,121   3,790,863   26.8
Certificates of deposit and other time        2,535,858   2,158,440   17.5
deposits
 Total deposits                             9,082,174   7,289,768   24.6
Customer repurchase agreements (6)            807,820     646,660     24.9
 Total deposits and customer repurchase     $9,889,994  $7,936,428  24.6
agreements (6)
Average balances
Loans:
Commercial real estate                       $2,643,867  $2,571,395  2.8
Commercial and industrial                     1,488,579   1,178,653   26.3
Commercial leases                             122,129     95,187      28.3
 Commercial loans and leases                4,254,575   3,845,235   10.6
Direct installment                            1,115,355   1,028,388   8.5
Residential mortgages                         1,171,482   695,573     68.4
Indirect installment                          571,844     530,692     7.8
Consumer LOC                                  743,214     547,624     35.7
Other                                         40,429      40,856      -1.0
 Total loans                                $7,896,899  $6,688,368  18.1
Deposits:
Non-interest bearing deposits                 $1,615,419  $1,266,392  27.6
Savings and NOW                               4,691,423   3,835,393   22.3
Certificates of deposit and other time        2,691,597   2,278,133   18.1
deposits
 Total deposits                             8,998,439   7,379,918   21.9
Customer repurchase agreements (6)            792,131     637,351     24.3
 Total deposits and customer repurchase     $9,790,570  $8,017,269  22.1
agreements (6)





F.N.B. CORPORATION
(Unaudited)
(Dollars in thousands)
                                                            4Q12 -    4Q12 -
                              2012                2011      3Q12      4Q11
                              Fourth    Third     Fourth    Percent   Percent
Asset Quality Data            Quarter   Quarter   Quarter   Variance  Variance
Non-Performing Assets
Non-performing loans (8)
 Non-accrual loans          $66,004   $69,986   $94,335   -5.7      -30.0
 Restructured loans         14,876    12,957    11,893    14.8      25.1
 Non-performing loans    80,880    82,943    106,228   -2.5      -23.9
Other real estate owned (9)   35,257    35,613    34,719    -1.0      1.5
 Non-performing loans and   116,137   118,556   140,947   -2.0      -17.6
OREO
Non-performing investments   2,809     2,754     8,972     2.0       -68.7
 Total non-performing       $118,946  $121,310  $149,919  -1.9      -20.7
assets
Non-performing loans / total  0.99%     1.04%     1.55%
loans
Non-performing loans / total  1.12%     1.19%     1.63%
originated loans (10)
Non-performing loans + OREO / 1.42%     1.48%     2.05%
total loans + OREO
Non-performing loans + OREO /
total originated
 loans + OREO (10)          1.60%     1.69%     2.15%
Non-performing assets / total 0.99%     1.01%     1.53%
assets
Allowance Rollforward
Allowance for loan losses
(originated portfolio) (10)
 Balance at beginning of    $99,725   $100,863  $108,813  -1.1      -8.4
period
 Provision for loan losses  8,083     6,224     8,289     29.9      -2.5
 Net loan charge-offs       (7,614)   (7,362)   (16,440)  3.4       -53.7
 Allowance for loan losses  100,194   99,725    100,662   0.5       -0.5
(originated portfolio)
Allowance for loan losses
(acquired portfolio) (11)
 Balance at beginning of    2,989     784       0         0.0       0.0
period
 Provision for loan losses  1,191     2,205     0         0.0       0.0
(acquired portfolio) (11)
 Allowance for loan losses  4,180     2,989     0         0.0       0.0
(acquired portfolio) (11)
 Total allowance for     $104,374  $102,714  $100,662  1.6       3.7
loan losses
Allowance for loan losses /   1.28%     1.29%     1.47%
total loans
Allowance for loan losses
(originated loans) / total
 originated loans (10)      1.39%     1.43%     1.54%
Allowance for loan losses /
total non-performing loans   123.88%   120.23%   94.76%
(8)
Net loan charge-offs
(annualized) / total average  0.38%     0.37%     0.95%
loans
Net loan charge-offs on
originated loans (annualized)
/
 total average originated   0.45%     0.42%     1.01%
loans (10)
Delinquency - Originated
Portfolio (10)
Loans 30-89 days past due     $46,205   $39,380   $33,978   17.3      36.0
Loans 90+ days past due       6,706     6,167     7,016     8.7       -4.4
Non-accrual loans             66,004    69,986    94,335    -5.7      -30.0
 Total past due and         $118,915  $115,533  $135,329  2.9       -12.1
non-accrual loans
Total past due and
non-accrual loans / total     1.64%     1.66%     2.08%
originated loans
Memo item:
Delinquency - Acquired
Portfolio (11) (12)
Loans 30-89 days past due     $22,799   $18,961   $12,195   20.2      87.0
Loans 90+ days past due       36,585    35,605    11,115    2.8       229.1
Non-accrual loans             0         0         0         0.0       0.0
 Total past due and         $59,384   $54,566   $23,310   8.8       154.8
non-accrual loans





F.N.B. CORPORATION
(Unaudited)
(Dollars in thousands)
                                                  For the Year
                                                  Ended December 31,  Percent
Asset Quality Data                                2012      2011      Variance
Non-Performing Assets
Non-performing loans (8)
 Non-accrual loans                              $66,004   $94,335   -30.0
 Restructured loans                             14,876    11,893    25.1
 Non-performing loans                        80,880    106,228   -23.9
Other real estate owned (9)                       35,257    34,719    1.5
 Non-performing loans and OREO                  116,137   140,947   -17.6
Non-performing investments                       2,809     8,972     -68.7
 Total non-performing assets                    $118,946  $149,919  -20.7
Non-performing loans / total loans                0.99%     1.55%
Non-performing loans / total originated loans     1.12%     1.63%
(10)
Non-performing loans + OREO / total loans + OREO  1.42%     2.05%
Non-performing loans + OREO / total originated
 loans + OREO (10)                              1.60%     2.15%
Non-performing assets / total assets              0.99%     1.53%
Allowance Rollforward
Allowance for loan losses (originated portfolio)
(10)
 Balance at beginning of period                 $100,662  $106,120  -5.1
 Provision for loan losses                      27,122    33,641    -19.4
 Net loan charge-offs                           (27,590)  (39,099)  -29.4
 Allowance for loan losses (originated          100,194   100,662   -0.5
portfolio)
Allowance for loan losses (acquired portfolio)
(11)
 Balance at beginning of period                 0         0         0.0
 Provision for loan losses (acquired            4,180     0         0.0
portfolio) (11)
 Allowance for loan losses (acquired            4,180     0         0.0
portfolio) (11)
 Total allowance for loan losses             $104,374  $100,662  3.7
Allowance for loan losses / total loans           1.28%     1.47%
Allowance for loan losses (originated loans) /
total
 originated loans (10)                          1.39%     1.54%
Allowance for loan losses / total non-performing  123.88%   94.76%
loans (8)
Net loan charge-offs (annualized) / total         0.35%     0.58%
average loans
Net loan charge-offs on originated loans
(annualized) /
 total average originated loans (10)            0.41%     0.62%
Delinquency - Originated Portfolio (10)
Loans 30-89 days past due                         $46,205   $33,978   36.0
Loans 90+ days past due                           6,706     7,016     -4.4
Non-accrual loans                                 66,004    94,335    -30.0
 Total past due and non-accrual loans           $118,915  $135,329  -12.1
Total past due and non-accrual loans / total      1.64%     2.08%
originated loans
Memo item:
Delinquency - Acquired Portfolio (11) (12)
Loans 30-89 days past due                         $22,799   $12,195   87.0
Loans 90+ days past due                           36,585    11,115    229.1
Non-accrual loans                                 0         0         0.0
 Total past due and non-accrual loans           $59,384   $23,310   154.8





F.N.B. CORPORATION
(Unaudited)
(Dollars in thousands, except per
share data)
                 2012
                 Fourth Quarter                  Third Quarter
                              Interest  Average               Interest  Average
                 Average      Earned    Yield    Average      Earned    Yield
                 Outstanding  or Paid   or Rate  Outstanding  or Paid   or Rate
Assets
Interest bearing
deposits with    $116,885     $68       0.23%    $86,501      $47       0.21%
banks
Taxable
investment       2,076,440    10,817    2.03%    2,067,146    11,471    2.17%
securities (13)
Non-taxable
investment       179,262      2,455     5.48%    185,614      2,581     5.56%
securities (14)
Loans (14) (15) 8,047,810    96,036    4.75%    7,928,174    95,509    4.80%
 Total
Interest Earning 10,420,397   109,376   4.18%    10,267,435   109,608   4.25%
Assets (14)
Cash and due     199,451                         182,356
from banks
Allowance for    (104,453)                       (103,757)
loan losses
Premises and     144,702                         146,313
equipment
Other assets     1,328,186                       1,349,857
Total Assets     $11,988,283                     $11,842,204
Liabilities
Deposits:

Interest-bearing $3,578,072   1,834     0.20%    $3,489,658   1,764     0.20%
demand
 Savings       1,208,616    253       0.08%    1,210,670    252       0.08%
 Certificates  2,578,226    7,650     1.18%    2,652,713    8,189     1.23%
and other time
Customer
repurchase       867,404      603       0.27%    803,492      575       0.28%
agreements
Other short-term 156,197      597       1.50%    159,843      607       1.49%
borrowings
Long-term debt  88,956       791       3.54%    90,869       860       3.76%
Junior
subordinated     204,012      1,932     3.77%    203,999      1,978     3.86%
debt
 Total
Interest Bearing 8,681,483    13,660    0.63%    8,611,244    14,225    0.66%
Liabilities
(14)
Non-interest
bearing demand   1,742,328                       1,677,578
deposits
Other            164,042                         168,100
liabilities
Total            10,587,853                      10,456,922
Liabilities
Stockholders'    1,400,430                       1,385,282
equity
Total
Liabilities and  $11,988,283                     $11,842,204
Stockholders'
Equity
Net Interest     $1,729,914                      $1,656,191
Earning Assets
Net Interest                  95,716                          95,383
Income (FTE)
Tax Equivalent                (1,798)                         (1,852)
Adjustment
Net Interest                  $93,918                         $93,531
Income
Net Interest                            3.56%                           3.60%
Spread
Net Interest                            3.66%                           3.70%
Margin (14)



F.N.B. CORPORATION
(Unaudited)
(Dollars in thousands, except per share data)
                                                2011
                                                Fourth Quarter
                                                             Interest  Average
                                                Average      Earned    Yield
                                                Outstanding  or Paid   or Rate
Assets
Interest bearing deposits with banks            $69,713      $37       0.21%
Taxable investment securities (13)             1,522,572    9,724     2.50%
Non-taxable investment securities (14)         190,637      2,742     5.75%
Loans (14) (15)                                6,836,263    86,316    5.01%
 Total Interest Earning Assets (14)          8,619,185    98,819    4.56%
Cash and due from banks                         177,480
Allowance for loan losses                       (109,588)
Premises and equipment                          127,872
Other assets                                    1,132,935
Total Assets                                    $9,947,884
Liabilities
Deposits:
 Interest-bearing demand                     $2,961,513   2,165     0.32%
 Savings                                      847,752      315       0.15%
 Certificates and other time                  2,202,129    9,328     1.68%
Customer repurchase agreements                  697,398      744       0.42%
Other short-term borrowings                     171,555      856       1.95%
Long-term debt                                 174,220      1,422     3.24%
Junior subordinated debt                        203,960      1,938     3.77%
 Total Interest Bearing Liabilities (14)  7,258,527    16,768    0.92%
Non-interest bearing demand deposits            1,339,484
Other liabilities                               130,298
Total Liabilities                               8,728,309
Stockholders' equity                            1,219,575
Total Liabilities and Stockholders' Equity      $9,947,884
Net Interest Earning Assets                     $1,360,658
Net Interest Income (FTE)                                    82,051
Tax Equivalent Adjustment                                    (1,922)
Net Interest Income                                          $80,129
Net Interest Spread                                                    3.64%
Net Interest Margin (14)                                              3.79%



F.N.B. CORPORATION
(Unaudited)
(Dollars in thousands, except per
share data)
                 For the Year Ended December 31,
                 2012                            2011
                              Interest  Average               Interest  Average
                 Average      Earned    Yield    Average      Earned    Yield
                 Outstanding  or Paid   or Rate  Outstanding  or Paid   or Rate
Assets
Interest bearing
deposits with    $94,719      $210      0.22%    $118,731     $275      0.23%
banks
Taxable
investment       2,031,289    47,161    2.27%    1,555,939    42,061    2.65%
securities (13)
Non-taxable
investment       183,558      10,253    5.59%    198,197      11,402    5.75%
securities (14)
Loans (14) (15) 7,896,899    381,664   4.83%    6,688,368    345,282   5.16%
 Total
Interest Earning 10,206,465   439,288   4.30%    8,561,235    399,020   4.66%
Assets (14)
Cash and due     187,095                         166,809
from banks
Allowance for    (103,590)                       (109,754)
loan losses
Premises and     146,757                         127,017
equipment
Other assets     1,346,094                       1,125,857
Total Assets     $11,782,821                     $9,871,164
Liabilities
Deposits:

Interest-bearing $3,497,352   7,636     0.22%    $2,889,720   9,912     0.34%
demand
 Savings       1,194,071    1,124     0.09%    945,673      1,683     0.18%
 Certificates  2,691,597    33,753    1.25%    2,278,133    41,940    1.84%
and other time
Customer
repurchase       792,131      2,506     0.31%    637,351      3,185     0.49%
agreements
Other short-term 158,875      2,656     1.64%    154,228      3,526     2.26%
borrowings
Long-term debt  90,652       3,492     3.85%    200,158      6,403     3.20%
Junior
subordinated     203,471      7,888     3.88%    203,950      7,968     3.91%
debt
 Total
Interest Bearing 8,628,149    59,055    0.68%    7,309,213    74,617    1.02%
Liabilities
(14)
Non-interest
bearing demand   1,615,419                       1,266,392
deposits
Other            162,759                         113,618
liabilities
Total            10,406,327                      8,689,223
Liabilities
Stockholders'    1,376,494                       1,181,941
equity
Total
Liabilities and  $11,782,821                     $9,871,164
Stockholders'
Equity
Net Interest     $1,578,316                      $1,252,022
Earning Assets
Net Interest                  380,233                         324,403
Income (FTE)
Tax Equivalent                (7,382)                         (7,895)
Adjustment
Net Interest                  $372,851                        $316,508
Income
Net Interest                            3.62%                           3.64%
Spread
Net Interest                            3.73%                           3.79%
Margin (14)



F.N.B. CORPORATION
(Unaudited)
(Dollars in thousands, except per share data)

NON-GAAP FINANCIAL MEASURES
We believe the following non-GAAP financial measures used by F.N.B.
Corporation provide information useful to investors in understanding F.N.B.
Corporation's operating performance and trends, and facilitate comparisons
with the performance of F.N.B. Corporation's peers. Thenon-GAAP financial
measures used by F.N.B. Corporation may differ from the non-GAAP financial
measures other financial institutions use to measure their results of
operations. Non-GAAP financial measures should be viewed in addition to, and
not as an alternative for, F.N.B.Corporation's reported results prepared in
accordance with U.S. GAAP. The following tables summarize the non-GAAP
financial measures included in this press release and derived from amounts
reported in F.N.B. Corporation's financial statements.

                                         2012                      2011
                                         Fourth       Third        Fourth
                                         Quarter      Quarter      Quarter
Adjusted net income:
Net income                               $28,955      $30,743      $23,737
Gain on sale of acquired building, net   0            (942)        0
of tax
Branch consolidation costs, net of tax   1,214        0            0
Litigation settlement accrual, net of    1,950        0            0
tax
Merger and severance costs, net of tax   (3)          57           255
Adjusted net income                      $32,116      $29,858      $23,992
Adjusted diluted earnings per share:
Diluted earnings per share               $0.21        $0.22        $0.19
Effect of gain on sale of acquired       0.00         (0.01)       0.00
building,netoftax
Effect of branch consolidation costs,    0.01         0.00         0.00
net of tax
Effect of litigation settlement accrual, 0.01         0.00         0.00
net of tax
Effect of merger and severance costs,    (0.00)       0.00         0.00
net of tax
Adjusted diluted earnings per share      $0.23        $0.21        $0.19
Return on average tangible equity (2):
Net income (annualized)                  $115,189     $122,304     $94,175
Amortization of intangibles, net of tax  5,800        5,798        4,692
(annualized)
                                         120,989      128,102      98,867
Average total shareholders' equity       1,400,430    1,385,282    1,219,575
Less: Average intangibles               (715,962)    (714,501)    (599,352)
                                         684,468      670,781      620,223
Return on average tangible equity (2)    17.68%       19.10%       15.94%
Return on average tangible assets (3):
Net income (annualized)                  $115,189     $122,304     $94,175
Amortization of intangibles, net of tax  5,800        5,798        4,692
(annualized)
                                         120,989      128,102      98,867
Average total assets                     11,988,283   11,842,204   9,947,884
Less: Average intangibles               (715,962)    (714,501)    (599,352)
                                         11,272,321   11,127,703   9,348,532
Return on average tangible assets (3)    1.07%        1.15%        1.06%
Tangible book value per share:
Total shareholders' equity               $1,402,069   $1,394,998   $1,210,199
Less: intangibles                       (713,405)    (717,263)    (599,414)
                                         688,664      677,735      610,785
Ending shares outstanding                139,929,242  139,792,727  127,220,759
Tangible book value per share            $4.92        $4.85        $4.80



F.N.B. CORPORATION
(Unaudited)
(Dollars in thousands, except per share data)
                                                      For the Year
                                                      Ended December 31,
                                                      2012         2011
Adjusted net income:
Net income                                            $110,410     $87,047
Gain on sale of acquired building, net of tax         (942)        0
Branch consolidation costs, net of tax                1,214        0
Litigation settlement accrual, net of tax             1,950        0
Merger and severance costs, net of tax                5,203        3,238
Adjusted net income                                   $117,835     $90,285
Adjusted diluted earnings per share:
Diluted earnings per share                            $0.79        $0.70
Effect of gain on sale of acquired building, net of   (0.01)       0.00
tax
Effect of branch consolidation costs, net of tax      0.01         0.00
Effect of litigation settlement accrual, net of tax   0.01         0.00
Effect of merger and severance costs, net of tax      0.04         0.02
Adjusted diluted earnings per share                   $0.84        $0.72
Return on average tangible equity (2):
Net income (annualized)                               $110,410     $87,047
Amortization of intangibles, net of tax (annualized)  5,938        4,698
                                                      116,348      91,745
Average total shareholders' equity                    1,376,494    1,181,941
Less: Average intangibles                            (717,031)    (599,851)
                                                      659,463      582,090
Return on average tangible equity (2)                 17.64%       15.76%
Return on average tangible assets (3):
Net income (annualized)                               $110,410     $87,047
Amortization of intangibles, net of tax (annualized)  5,938        4,698
                                                      116,348      91,745
Average total assets                                  11,782,821   9,871,164
Less: Average intangibles                            (717,031)    (599,851)
                                                      11,065,790   9,271,313
Return on average tangible assets (3)                 1.05%        0.99%
Tangible book value per share:
Total shareholders' equity                            $1,402,069   $1,210,199
Less: intangibles                                    (713,405)    (599,414)
                                                      688,664      610,785
Ending shares outstanding                             139,929,242  127,220,759
Tangible book value per share                         $4.92        $4.80



F.N.B. CORPORATION
(Unaudited)
(Dollars in thousands)
                               2012                              2011
                               Fourth           Third            Fourth
                               Quarter          Quarter          Quarter
Tangible equity / tangible
assets (period end):
Total shareholders'            $1,402,069       $1,394,998       $1,210,199
equity
Less: intangibles             (713,405)        (717,263)        (599,414)
                               688,664          677,735          610,785
Total assets                   12,023,976       11,984,891       9,786,483
Less: intangibles             (713,405)        (717,263)        (599,414)
                               11,310,570       11,267,628       9,187,069
Tangible equity / tangible     6.09%            6.01%            6.65%
assets (period end)
Tangible equity, excluding
AOCI / tangible
 assets (period end) (7):
Total shareholders' equity     $1,402,069       $1,394,998       $1,210,199
Less: intangibles             (713,405)        (717,263)        (599,414)
Less: AOCI                    46,224           38,972           45,148
                               734,888          716,707          655,933
Total assets                   12,023,976       11,984,891       9,786,483
Less: intangibles             (713,405)        (717,263)        (599,414)
                               11,310,570       11,267,628       9,187,069
Tangible equity, excluding
AOCI / tangible
 assets (period end) (7)     6.50%            6.36%            7.14%
(1)        Net interest income is also presented on a fully taxable equivalent
           (FTE) basis, as the Corporation believes this non-GAAP measure is
           the preferred industry measurement for this item.
(2)        Return on average tangible equity is calculated by dividing net
           income less amortization of intangibles by average equity less
          average intangibles.
(3)        Return on average tangible assets is calculated by dividing net
           income less amortization of intangibles by average assets less
          average intangibles.
(4)        See non-GAAP financial measures for additional information relating
           to the calculation of this item.
           The efficiency ratio is calculated by dividing non-interest expense
(5)        less amortization of intangibles, other real estate owned expense,
           FHLB prepayment penalties, litigation settlement accrual, branch
          consolidation costs and merger costs by the sum of net interest
           income on a fully taxable equivalent basis plus non-interest income
           less gain on sale of an acquired building, securities gains and net
           impairment losses on securities plus losses on asset disposals
           related to the branch consolidation project.
(6)        Customer repos are included in short-term borrowings on the balance
           sheet.
           Accumulated other comprehensive income (AOCI) is comprised of
(7)        unrealized losses on securities, non-credit impairment losses on
           other-than-temporarily impaired securities and unrecognized pension
           and postretirement obligations.
(8)        Does not include loans acquired at fair value ("acquired
           portfolio").
(9)        Includes all other real estate owned, including those balances
           acquired through business combinations that have been in acquired
          loans prior to foreclosure.
(10)       "Originated Portfolio" or "Originated Loans" equals loans and
           leases not included by definition in the Acquired Portfolio.

(11)       "Acquired Portfolio" or "Acquired Loans" equals loans acquired at
           fair value, accounted for in accordance with ASC 805 which was
          effective January 1, 2009.
           The risk of credit loss on these loans has been considered by
           virtue of the Corporation's estimate of acquisition-date fair value
           and these loans are considered accruing as the Corporation
           primarily recognizes interest income through accretion of the
           difference between the carrying value of these loans and their
           expected cash flows. Because acquired loans are initially recorded
           at an amount estimated to be collectible, losses on such loans,
           when incurred, are first applied against the non-accretable
           difference established in purchase accounting and then to any
           allowance for loan losses recognized subsequent to acquisition.
(12)       Represents contractual balances.
(13)       The average balances and yields earned on taxable investment
           securities are based on historical cost.
           The interest income amounts are reflected on a FTE basis, which
(14)       adjusts for the tax benefit of income on certain tax-exempt loans
           and investments using the federal statutory tax rate of 35% for
          each period presented. The yields on earning assets and the net
           interest margin are presented on an FTE and annualized basis. The
           rates paid on interest-bearing liabilities are also presented on an
           annualized basis.
(15)       Average balances for loans include non-accrual loans. Loans
           consist of average total loans less average unearned income. The
           amount of loan fees included in interest income is immaterial.

SOURCE F.N.B. Corporation

Website: http://www.fnbcorporation.com
Contact: Analyst/Institutional Investor Contact: Cynthia Christopher,
+1-724-983-3429 or +1-724-815-3926 (cell), christoc@fnb-corp.com or Media
Contact: Jennifer Reel, +1-724-983-4856 or +1-724-699-6389 (cell),
reel@fnb-corp.com