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BUSINESS SEGMENTS | 6 Months Ended
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Jun. 30, 2019
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.
We also previously operated a Consumer Finance segment, which is no longer a reportable segment. This segment primarily made installment loans to individuals and purchased installment sales finance contracts from retail merchants. On August 31, 2018, as part of our strategy to enhance the overall positioning of our consumer banking operations, we sold 100 percent of the issued and outstanding capital stock of Regency to Mariner Finance, LLC. This transaction was completed to accomplish several strategic objectives, including enhancing the credit risk profile of the consumer loan portfolio, offering additional liquidity and selling a non-strategic business segment that no longer fits with our core business. Regency's financial information is included in the Consumer Finance segment in the 2018 tables that follows. 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 16.1
(in millions) | Community Banking |  | Wealth Management |  | Insurance |  | Consumer Finance |  | Parent and Other |  | Consolidated
At or for the Three Months Ended June 30, 2019 |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 316 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | 317 |
Interest expense | 81 |  |  | — |  |  | — |  |  | — |  |  | 6 |  |  | 87 |
Net interest income | 235 |  |  | — |  |  | — |  |  | — |  |  | (5 | ) |  | 230 |
Provision for credit losses | 11 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 11 |
Non-interest income | 61 |  |  | 12 |  |  | 4 |  |  | — |  |  | (2 | ) |  | 75 |
Non-interest expense (1) | 157 |  |  | 9 |  |  | 4 |  |  | — |  |  | 2 |  |  | 172 |
Amortization of intangibles | 3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |
Income tax expense (benefit) | 24 |  |  | 1 |  |  | — |  |  | — |  |  | (1 | ) |  | 24 |
Net income (loss) | 101 |  |  | 2 |  |  | — |  |  | — |  |  | (8 | ) |  | 95 |
Total assets | 33,785 |  |  | 27 |  |  | 35 |  |  | — |  |  | 56 |  |  | 33,903 |
Total intangibles | 2,297 |  |  | 10 |  |  | 29 |  |  | — |  |  | — |  |  | 2,336 |
At or for the Three Months Ended June 30, 2018 |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 285 |  |  | $ | — |  |  | $ | — |  |  | $ | 9 |  |  | $ | — |  |  | $ | 294 |
Interest expense | 50 |  |  | — |  |  | — |  |  | 1 |  |  | 3 |  |  | 54 |
Net interest income | 235 |  |  | — |  |  | — |  |  | 8 |  |  | (3 | ) |  | 240 |
Provision for credit losses | 14 |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | 16 |
Non-interest income | 51 |  |  | 11 |  |  | 4 |  |  | 1 |  |  | (2 | ) |  | 65 |
Non-interest expense (1) | 159 |  |  | 9 |  |  | 4 |  |  | 5 |  |  | 2 |  |  | 179 |
Amortization of intangibles | 4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4 |
Income tax expense (benefit) | 21 |  |  | — |  |  | — |  |  | 1 |  |  | (1 | ) |  | 21 |
Net income (loss) | 88 |  |  | 2 |  |  | — |  |  | 1 |  |  | (6 | ) |  | 85 |
Total assets | 32,035 |  |  | 25 |  |  | 22 |  |  | 168 |  |  | 8 |  |  | 32,258 |
Total intangibles | 2,311 |  |  | 10 |  |  | 12 |  |  | 2 |  |  | — |  |  | 2,335 |
(1) Excludes amortization of intangibles, which is presented separately. |  |  |  |  |  |
(in millions) | Community Banking |  | Wealth Management |  | Insurance |  | Consumer Finance |  | Parent and Other |  | Consolidated
At or for the Six Months Ended June 30, 2019 |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 626 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | 627 |
Interest expense | 157 |  |  | — |  |  | — |  |  | — |  |  | 9 |  |  | 166 |
Net interest income | 469 |  |  | — |  |  | — |  |  | — |  |  | (8 | ) |  | 461 |
Provision for credit losses | 25 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 25 |
Non-interest income | 112 |  |  | 23 |  |  | 9 |  |  | — |  |  | (4 | ) |  | 140 |
Non-interest expense (1) | 304 |  |  | 18 |  |  | 8 |  |  | — |  |  | 4 |  |  | 334 |
Amortization of intangibles | 7 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 7 |
Income tax expense (benefit) | 47 |  |  | 1 |  |  | — |  |  | — |  |  | (2 | ) |  | 46 |
Net income (loss) | 198 |  |  | 4 |  |  | 1 |  |  | — |  |  | (14 | ) |  | 189 |
Total assets | 33,785 |  |  | 27 |  |  | 35 |  |  | — |  |  | 56 |  |  | 33,903 |
Total intangibles | 2,297 |  |  | 10 |  |  | 29 |  |  | — |  |  | — |  |  | 2,336 |
At or for the Six Months Ended June 30, 2018 |  |  |  |  |  |  |  |  |  |  |
Interest income | $ | 548 |  |  | $ | — |  |  | $ | — |  |  | $ | 19 |  |  | $ | — |  |  | $ | 567 |
Interest expense | 92 |  |  | — |  |  | — |  |  | 2 |  |  | 7 |  |  | 101 |
Net interest income | 456 |  |  | — |  |  | — |  |  | 17 |  |  | (7 | ) |  | 466 |
Provision for credit losses | 26 |  |  | — |  |  | — |  |  | 4 |  |  | — |  |  | 30 |
Non-interest income | 104 |  |  | 22 |  |  | 8 |  |  | 1 |  |  | (3 | ) |  | 132 |
Non-interest expense (1) | 308 |  |  | 17 |  |  | 8 |  |  | 10 |  |  | 3 |  |  | 346 |
Amortization of intangibles | 8 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8 |
Income tax expense (benefit) | 43 |  |  | 1 |  |  | — |  |  | 1 |  |  | (3 | ) |  | 42 |
Net income (loss) | 175 |  |  | 4 |  |  | — |  |  | 3 |  |  | (10 | ) |  | 172 |
Total assets | 32,035 |  |  | 25 |  |  | 22 |  |  | 168 |  |  | 8 |  |  | 32,258 |
Total intangibles | 2,311 |  |  | 10 |  |  | 12 |  |  | 2 |  |  | — |  |  | 2,335 |
(1) Excludes amortization of intangibles, which is presented separately.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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