Friday, July 22, 2005
HERMITAGE, Pa. -- F.N.B. Corp. reported second-quarter earnings of 31 cents a share Thursday, an increase of 3 cents a share over the first quarter.
The company reported a total net income of $17.5 million for the quarter, compared with $14.9 million net income for the first quarter.
The earnings figures meet the company's own projections for net income for the second quarter, according to a statement from F.N.B.'s chief executive officer, Stephen Gurgovits.
Gurgovits attributed the performance to loan growth, increased income from fees and reduced non-interest expenses.
The earnings were 1 cent per share less than for the same time period last year, according to the company announcement. At 59 cents per share, total earnings to date are 7 cents per share off earnings for the first two quarters last year.
F.N.B.'s stock price closed at $20.37, down 2.63 percent.