F.N.B. Corporation (NYSE:FNB) Q1 2023 Earnings Call Transcript

So I think that all depends on how everything shakes out as we move forward. I mean, obviously, on the structural side of syndications, if we’re leading let leading, it’s going to depend on CapEx needs, M&A activity. There’s a bunch of factors that go into driving on in that category. I would expect some things to come up over the next few quarters that will benefit that area because we do have a fairly significant falling effort syndication side. And then I would also expect derivatives as we move through the cycle and you see a number of companies burn through the old fixed rate program, I would expect to see them re-upping particularly with the inversion in the yield curve.So I mean there’s hope that we can sustain or grow those numbers.

I think that’s reflected in our guide. So I actually thought they did pretty well in the first quarter, which is typically seasonally lower. So I think we’re good. From a wealth perspective, we’re doing extraordinarily well producing new net asset value. So growing net asset value to clients in the Southeast, in particular, in the Mid-Atlantic.So I would expect that to continue because we beat up staffing down there over the last few years, and have better penetration. So I’m expecting that to do a little better than the previous years in terms of organic growth. That should help us in the long run.And then mortgage, there’s quite a bit of uncertainty about where we’re headed from a gain on sale perspective because of where rates are. But again, we’re new to many of the markets, we have great people, great originators, and we’re spread across a pretty vast geography with diversification with lower relative share in many markets.

So we should be able to sustain that. So we feel pretty good about our guide.Brian Martin Yes. No, that’s all. Understood. Okay, well thank you for taking the questions and thanks for all the added disclosures on the office book and the CRE book. It’s very helpful.Vince Delie I think that concludes the questions. So I want to thank everybody for participating. Thank you for your thoughtful questions. Very detailed and hopefully we were able to answer. We’ve put out quite a bit, so I’d recommend reading through the disclosures that we’ve put out. I thought our team did an excellent job getting the information out to the street. I’d like to thank you and thank our employees here and the shareholders for standing with us. And we’re going to do well as we move through this on a relative basis.

I know it because we are — we’ve got a great team here. So thank you for participating. Take care. We’ll see you again.Operator The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.