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Can FNB's Family Wealth Expansion Accelerate Fee Income Growth?
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Key Takeaways
FNB is broadening Family Wealth with investment, estate, tax, succession and fiduciary services.
First-half 2026 non-interest income rose 5.1% to $188 million as total revenue reached a record $913 million.
FNB maintained its 2026 non-interest income outlook of $370-$390 million despite first-half growth.
F.N.B. Corporation (FNB - Free Report) is accelerating its push into higher-margin wealth management businesses as it seeks to expand recurring fee income and deepen relationships with ultra-high-net-worth clients.
The Pittsburgh-based bank has broadened its ‘F.N.B. Private Family Wealth’ platform, introducing enhanced advisory capabilities tailored to affluent families and business owners. The expanded offering integrates traditional and alternative investment management with estate planning, tax optimization, wealth transfer strategies, succession planning and fiduciary services. It also connects clients to FNB’s investment banking, private banking, mortgage and insurance solutions through a unified advisory model designed to increase wallet share.
To support the initiative, F.N.B. Corp. has added senior leadership talent, including Benjamin J. Ciocco as Director of Family Wealth and Fiduciary Services and Frank J. Aloi as Chief Market Strategist for Family Wealth. The pair bring decades of experience across investment strategy, private markets and institutional advisory services, strengthening the bank’s ability to deliver bespoke, “family office-style” solutions.
The expansion aligns with FNB’s broader strategy of diversifying revenue beyond net interest income and scaling fee-generating businesses. While the bank already operates across commercial banking, asset management and insurance, providing a strong cross-selling foundation, recent performance underscores the opportunity. In the first half of 2026, FNB reported non-interest income of $188 million, up 5.1% year over year, alongside record total revenue of $913 million, reflecting steady momentum in its diversified business lines.
Revenue Trend
Image Source: Zacks Investment Research
Despite a solid first-half performance, F.N.B. Corp. reaffirmed its 2026 non-interest income outlook of $370-$390 million, with third-quarter fee income projected at $93-$98 million. Given second-quarter non-interest income of $97 million, the guidance suggests management expects fee revenues will remain relatively stable in the second half.
By expanding its Family Wealth platform, FNB is strengthening its ability to generate recurring advisory revenues, deepen client relationships and capture a larger share of wealth across generations. This could support sustained fee income growth over the long term.
F.N.B. Corp’s Price Performance and Zacks Rank
Over the past year, shares of FNB have gained 20.5%, outperforming the industry's 13.6% growth.
Last week, KeyCorp (KEY - Free Report) completed the acquisition of Clearwater Corporate Finance LLP ("Clearwater UK"), a U.K.-based middle-market investment banking advisory firm. The transaction marks another step in expanding the company's advisory business and establishes its presence in the Western European market.
Building on a collaboration between KeyBanc Capital Markets and Clearwater UK that began in 2020, the acquisition strengthens KeyCorp's middle-market M&A capabilities and enhances opportunities to serve U.S. and European corporate and private equity clients. The acquisition complements KeyCorp's strategy of expanding its investment banking franchise and growing fee-based businesses.
In July, Citigroup (C - Free Report) became a clearing member of London Precious Metals Clearing Limited (LPMCL). The designation enables the bank to provide Loco London settlement services for gold, silver, platinum and palladium, expanding its role in one of the world’s largest over-the-counter bullion markets.
Direct participation in the clearing process is expected to improve execution efficiency for institutional clients while reinforcing the bank’s market infrastructure capabilities and deepening client relationships. While the move is not expected to have a meaningful impact on near-term earnings, it supports Citigroup’s broader strategy of expanding capital-light, fee-generating businesses.
View the Zacks #1 Rank List
Image: Bigstock
Can FNB's Family Wealth Expansion Accelerate Fee Income Growth?
Key Takeaways
F.N.B. Corporation (FNB - Free Report) is accelerating its push into higher-margin wealth management businesses as it seeks to expand recurring fee income and deepen relationships with ultra-high-net-worth clients.
The Pittsburgh-based bank has broadened its ‘F.N.B. Private Family Wealth’ platform, introducing enhanced advisory capabilities tailored to affluent families and business owners. The expanded offering integrates traditional and alternative investment management with estate planning, tax optimization, wealth transfer strategies, succession planning and fiduciary services. It also connects clients to FNB’s investment banking, private banking, mortgage and insurance solutions through a unified advisory model designed to increase wallet share.
To support the initiative, F.N.B. Corp. has added senior leadership talent, including Benjamin J. Ciocco as Director of Family Wealth and Fiduciary Services and Frank J. Aloi as Chief Market Strategist for Family Wealth. The pair bring decades of experience across investment strategy, private markets and institutional advisory services, strengthening the bank’s ability to deliver bespoke, “family office-style” solutions.
The expansion aligns with FNB’s broader strategy of diversifying revenue beyond net interest income and scaling fee-generating businesses. While the bank already operates across commercial banking, asset management and insurance, providing a strong cross-selling foundation, recent performance underscores the opportunity. In the first half of 2026, FNB reported non-interest income of $188 million, up 5.1% year over year, alongside record total revenue of $913 million, reflecting steady momentum in its diversified business lines.
Revenue Trend
Image Source: Zacks Investment Research
Despite a solid first-half performance, F.N.B. Corp. reaffirmed its 2026 non-interest income outlook of $370-$390 million, with third-quarter fee income projected at $93-$98 million. Given second-quarter non-interest income of $97 million, the guidance suggests management expects fee revenues will remain relatively stable in the second half.
By expanding its Family Wealth platform, FNB is strengthening its ability to generate recurring advisory revenues, deepen client relationships and capture a larger share of wealth across generations. This could support sustained fee income growth over the long term.
F.N.B. Corp’s Price Performance and Zacks Rank
Over the past year, shares of FNB have gained 20.5%, outperforming the industry's 13.6% growth.
1 Year Price Performance
Image Source: Zacks Investment Research
At present, F.N.B. Corp. carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Banks Taking Steps to Bolster Fee Income
Last week, KeyCorp (KEY - Free Report) completed the acquisition of Clearwater Corporate Finance LLP ("Clearwater UK"), a U.K.-based middle-market investment banking advisory firm. The transaction marks another step in expanding the company's advisory business and establishes its presence in the Western European market.
Building on a collaboration between KeyBanc Capital Markets and Clearwater UK that began in 2020, the acquisition strengthens KeyCorp's middle-market M&A capabilities and enhances opportunities to serve U.S. and European corporate and private equity clients. The acquisition complements KeyCorp's strategy of expanding its investment banking franchise and growing fee-based businesses.
In July, Citigroup (C - Free Report) became a clearing member of London Precious Metals Clearing Limited (LPMCL). The designation enables the bank to provide Loco London settlement services for gold, silver, platinum and palladium, expanding its role in one of the world’s largest over-the-counter bullion markets.
Direct participation in the clearing process is expected to improve execution efficiency for institutional clients while reinforcing the bank’s market infrastructure capabilities and deepening client relationships. While the move is not expected to have a meaningful impact on near-term earnings, it supports Citigroup’s broader strategy of expanding capital-light, fee-generating businesses.