Parent Company Financial Statements

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Company Financial Statements

25.    Parent Company Financial Statements

The following is condensed financial information of F.N.B. Corporation (parent company only). In this information, the parent company’s investments in subsidiaries are stated at cost plus equity in undistributed earnings of subsidiaries since acquisition. This information should be read in conjunction with the consolidated financial statements.

Balance Sheets December 31	2014		2013
Assets
Cash and cash equivalents	$	129,320	$	145,910
Securities available for sale		1,228		2,061
Other assets		16,615		18,387
Investment in bank subsidiary		2,006,808		1,759,551
Investments in and advances to non-bank subsidiaries		254,653		254,124
Total Assets	$	2,408,624	$	2,180,033
Liabilities
Other liabilities	$	25,772	$	25,225
Advances from affiliates		292,337		294,245
Junior subordinated debt		59,279		76,290
Subordinated notes:
Short-term		8,351		8,439
Long-term		1,429		1,451
Total Liabilities		387,168		405,650
Stockholders’ Equity		2,021,456		1,774,383
Total Liabilities and Stockholders’ Equity	$	2,408,624	$	2,180,033

Statements of Income Year Ended December 31	2014			2013		2012
Income
Dividend income from subsidiaries:
Bank	$	85,000		$	77,153	$	74,412
Non-bank		9,900			5,950		6,400
		94,900			83,103		80,812
Interest income		4,856			5,277		5,802
Other income		1,920			1,874		1,442
Total Income		101,676			90,254		88,056
Expenses
Interest expense		8,503			14,325		15,646
Other expenses		9,252			8,196		7,640
Total Expenses		17,755			22,521		23,286
Income Before Taxes and Equity in Undistributed Income of Subsidiaries		83,921			67,733		64,770
Income tax benefit		4,498			6,267		6,151
		88,419			74,000		70,921
Equity in undistributed income (loss) of subsidiaries:
Bank		55,742			42,094		38,401
Non-bank		(111	)		1,710		1,088
Net Income	$	144,050		$	117,804	$	110,410

Statements of Cash Flows Year Ended December 31	2014			2013			2012
Operating Activities
Net income	$	144,050		$	117,804		$	110,410
Adjustments to reconcile net income to net cash flows from operating activities:
Undistributed earnings from subsidiaries		(55,631	)		(43,804	)		(39,489	)
Other, net		(637	)		(6,218	)		109
Net cash flows provided by operating activities		87,782			67,782			71,030
Investing Activities
Proceeds from sale of securities available for sale		934			128			201
Decrease in property, plant and equipment		—			—			4,193
Net decrease (increase) in advances to subsidiaries		2,018			1,080			(1,349	)
Net (increase) decrease in investment in subsidiaries		(2,877	)		1,845			1,535
Net cash received (paid) in business combinations		5,594			(3,533	)		(80,985	)
Net cash flows provided by (used in) investing activities		5,669			(480	)		(76,405	)
Financing Activities
Net (decrease) increase in advance from affiliate		(1,908	)		(854	)		12,944
Net (decrease) increase in short-term borrowings		(88	)		84			(2	)
Decrease in long-term debt		(843	)		(808	)		(1,277	)
Increase in long-term debt		821			499			671
Decrease in junior subordinated debt		(34,022	)		(134,021	)		—
Net proceeds from issuance of preferred stock		—			106,882			—
Net proceeds from issuance of common stock		12,857			62,092			8,895
Tax benefit of stock-based compensation		2,714			1,326			386
Cash dividends paid:
Preferred stock		(8,352	)		—			—
Common stock		(81,220	)		(71,246	)		(67,646	)
Net cash flows used in financing activities		(110,041	)		(36,046	)		(46,029	)
Net (Decrease) Increase in Cash and Cash Equivalents		(16,590	)		31,256			(51,404	)
Cash and cash equivalents at beginning of year		145,910			114,654			166,058
Cash and Cash Equivalents at End of Year	$	129,320		$	145,910		$	114,654
Cash paid during the year for:
Interest	$	9,112		$	14,351		$	15,701