BUSINESS SEGMENTS

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

BUSINESS SEGMENTS

BUSINESS SEGMENTS

We operate in three reportable segments: Community Banking, Wealth Management and Insurance.

•The Community Banking segment provides commercial and consumer banking services. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, business credit, capital markets and lease financing. Consumer banking products and services include deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services.

•The Wealth Management segment provides a broad range of personal and corporate fiduciary services including the administration of decedent and trust estates. In addition, it offers various alternative products, including securities brokerage and investment advisory services, mutual funds and annuities.

•The Insurance segment includes a full-service insurance agency offering all lines of commercial and personal insurance through major carriers. The Insurance segment also includes a reinsurer.

The following tables provide financial information for these segments of FNB. The information provided under the caption “Parent and Other” represents operations not considered to be reportable segments and/or general operating expenses of FNB, and includes the parent company, other non-bank subsidiaries and eliminations and adjustments to reconcile to the Consolidated Financial Statements.

TABLE 18.1

(in millions)	Community Banking		Wealth Management		Insurance		Parent and Other		Consolidated
At or for the Three Months Ended September 30, 2020
Interest income	$	273	$	—	$	—	$	—	$	273
Interest expense	41		—		—		5		46
Net interest income	232		—		—		(5)		227
Provision for credit losses	27		—		—		—		27
Non-interest income	63		12		7		(2)		80
Non-interest expense (1)	162		8		5		2		177
Amortization of intangibles	3		—		—		—		3
Income tax expense (benefit)	18		1		1		(3)		17
Net income (loss)	85		3		1		(6)		83
Total assets	37,315		36		36		54		37,441
Total intangibles	2,282		9		28		—		2,319
At or for the Three Months Ended September 30, 2019
Interest income	$	314	$	—	$	—	$	—	$	314
Interest expense	79		—		—		5		84
Net interest income	235		—		—		(5)		230
Provision for credit losses	12		—		—		—		12
Non-interest income	65		12		5		(2)		80
Non-interest expense (1)	158		8		4		4		174
Amortization of intangibles	3		—		1		—		4
Income tax expense (benefit)	19		1		—		(3)		17
Net income (loss)	108		3		—		(8)		103
Total assets	34,207		29		36		57		34,329
Total intangibles	2,294		10		29		—		2,333
(1) Excludes amortization of intangibles, which is presented separately.

(in millions)	Community Banking		Wealth Management		Insurance		Parent and Other		Consolidated
At or for the Nine Months Ended September 30, 2020
Interest income	$	859	$	—	$	—	$	1	$	860
Interest expense	155		—		—		17		172
Net interest income	704		—		—		(16)		688
Provision for credit losses	105		—		—		—		105
Non-interest income	180		36		18		(8)		226
Non-interest expense (1)	495		26		14		6		541
Amortization of intangibles	9		—		1		—		10
Income tax expense (benefit)	47		2		1		(6)		44
Net income (loss)	228		8		2		(24)		214
Total assets	37,315		36		36		54		37,441
Total intangibles	2,282		9		28		—		2,319
At or for the Nine Months Ended September 30, 2019
Interest income	$	940	$	—	$	—	$	1	$	941
Interest expense	236		—		—		14		250
Net interest income	704		—		—		(13)		691
Provision for credit losses	37		—		—		—		37
Non-interest income	177		35		14		(6)		220
Non-interest expense (1)	462		26		12		8		508
Amortization of intangibles	10		—		1		—		11
Income tax expense (benefit)	66		2		—		(5)		63
Net income (loss)	306		7		1		(22)		292
Total assets	34,207		29		36		57		34,329
Total intangibles	2,294		10		29		—		2,333

(1) Excludes amortization of intangibles, which is presented separately.