PITTSBURGH - First National Bank, a major subsidiary of F.N.B. Corporation (NYSE: NYSE:FNB), has announced the appointment of Kelly Trombetta as its new Chief Operational Risk Officer. Trombetta will oversee the bank's operational risk management program, focusing on systems and processes to meet regulatory requirements as the company's assets approach $50 billion.
Kelly Trombetta brings over two decades of experience in financial services, risk management, and executive leadership to her new role. Her responsibilities will include assessing and enhancing FNB's operational risk framework to ensure compliance with the evolving regulatory landscape.
With a strong educational background, Trombetta holds a bachelor's degree from Grove City College and both an MBA and Master of Science in Information Systems Management from Duquesne University. Her connection to Duquesne remains active as she serves on the Information Systems and Technology Advisory Council. Additionally, she is involved in her local community as a member of the United Way of Southwestern Pennsylvania Women's Leadership Council.
F.N.B. Corporation, headquartered in Pittsburgh, Pennsylvania, operates across seven states and the District of Columbia. The company's market presence covers several major metropolitan areas and boasts assets totaling $48 billion. FNB provides a comprehensive suite of banking and wealth management services through its subsidiary network, led by First National Bank of Pennsylvania.
The company's stock is traded on the New York Stock Exchange under the ticker "FNB" and is part of the S&P MidCap 400 Index. As FNB approaches a significant asset threshold, Trombetta's appointment is a strategic move to strengthen the company's risk management capabilities.
This announcement is based on a press release statement from F.N.B. Corporation.
In other recent news, F.N.B. Corporation reported third-quarter earnings per share (EPS) of $0.34, slightly below the consensus estimate. Adjusting for non-recurring items, core earnings were estimated at $0.34 per share. The company's operating net income for the same period was $122 million, with total loans and deposits increasing by 4.6% and 5.1% respectively. F.N.B. Corporation also reported a record non-interest income of $90 million.
Piper Sandler maintained its Overweight rating on F.N.B. Corporation, citing the company's potential for significant loan growth and market share increase. Similarly, Stephens also kept their Overweight rating, despite lowering their EPS estimates for 2025 and 2026 due to elevated non-interest expenses. However, both firms expressed positive outlooks for the company's future performance.
In addition to these financial highlights, F.N.B. Corporation management expressed openness to mergers and acquisitions, focusing on smaller, accretive deals. These recent developments indicate the company's strategic growth initiatives and resilience in the face of economic challenges.
InvestingPro Insights
As F.N.B. Corporation (NYSE: FNB) approaches the $50 billion asset threshold, recent data from InvestingPro sheds light on the company's financial health and market performance. With a market capitalization of $5.3 billion, FNB's stock is currently trading at a price-to-earnings ratio of 13.36, suggesting a relatively modest valuation compared to industry peers.
InvestingPro Tips highlight FNB's commitment to shareholder returns, noting that the company has maintained dividend payments for an impressive 50 consecutive years. This consistency aligns with the company's strategic focus on long-term stability, which is crucial as it navigates the complexities of increased regulatory scrutiny associated with its growing asset base.
The appointment of Kelly Trombetta as Chief Operational Risk Officer comes at a time when FNB's financial metrics show both strengths and challenges. While the company boasts a high shareholder yield and is projected to remain profitable this year, InvestingPro data indicates a slight revenue decline of 4.6% over the last twelve months. This context underscores the importance of Trombetta's role in managing operational risks and ensuring compliance as the bank expands.
Investors may find it reassuring that despite some headwinds, FNB's stock has shown resilience, with a one-year price total return of 42.43%. This performance, coupled with a dividend yield of 3.27%, may appeal to value-oriented investors looking for a mix of growth and income.
For those seeking a more comprehensive analysis, InvestingPro offers 6 additional tips on FNB, providing deeper insights into the company's financial position and market outlook.
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