UPDATE 1-FNB Corp Q4 profit misses Street view

* Q4 EPS $0.04 vs est $0.11

* Provision for bad loans rose 57 pct sequentially

Jan 25 (BestGrowthStock) – Bank holding company F.N.B. Corp (FNB.N: )
reported a fourth-quarter profit (Read more your timing to make a profit.) that missed analysts’
estimates, hurt by a sequential rise in provision for loan
losses and a charge related to its pooled trust preferred
securities.

The company said net income was $4.6 million, or 4 cents a
share, compared with a net loss of $18.9 million, or 21 cents a
share, last year.

Analysts on average were expecting the bank to earn 11
cents a share, according to Thomson Reuters I/B/E/S.

The company incurred non-cash impairment charges of $2.4
million related to pooled trust preferred securities.

Provision for loan losses rose sequentially to $25.9
million from $16.5 million.

The company, which saw growth in its Pennsylvania
commercial loan portfolio, said net interest income before
provision for loan losses rose slightly to $69.6 million.

Shares of the company closed at $7.21 Monday on the New
York Stock Exchange.

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(Reporting by Abhinav Sharma in Bangalore; Editing by Anne
Pallivathuckal)

UPDATE 1-FNB Corp Q4 profit misses Street view