FNB CORP/PA/FNB
FNB CORP/PA/ New Standards Disclosure
Adoption of New Accounting Standards
Improvements to Income Tax Disclosures. Effective January 1, 2025, we adopted the provisions of ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (the Update or ASU), which provided increased income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This ASU has been applied prospectively starting January 1, 2025. The adoption is limited to disclosure enhancements and did not result in a material impact to our Consolidated Financial Statements.
Purchased Loans. In November 2025, FASB issued ASU 2025-08, Financial Instruments – Credit Losses (Topic 326): Purchased Loans (the Update or ASU), to improve the decision usefulness of the financial reporting for acquired financial assets, enhancing comparability and consistency by adopting one approach. This ASU introduces the concepts of Purchased Seasoned Loans (PSL) and expands the application of the gross-up approach previously limited to PCD assets. An entity applying this approach would add the allowance for credit losses at the date of acquisition to the purchase price. Following our prospective adoption no later than January 1, 2027 of ASU 2025-08, this accounting would apply to a majority of future acquired loans, and we are assessing this ASU for adoption. Upon adoption, we do not expect this Update to have a material impact on our Consolidated Financial Statements.
The following table summarizes accounting pronouncements issued by the FASB that we recently adopted or will be adopting in the future.
TABLE 2.1
| Standard | Description | Financial Statements Impact | ||||||||||||
| Income Statement | ||||||||||||||
ASU 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures: Clarifying the Effective Date ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures: Disaggregation of Income Statement Expenses | This Update requires public business entities to disclose, on an annual and interim basis, disaggregated information about certain income statement line items in a tabular format in the notes to the financial statements. Specifically, entities must disaggregate any relevant expense caption that includes one or more of the following natural expense categories: (1) purchases of inventory, (2) employee compensation, (3) depreciation, (4) intangible asset amortization, (5) depreciation, depletion, and amortization recognized as part of oil- and gas-producing activities (DD&A). Additionally, this Update also requires entities to disclose selling expense on both an annual and interim basis. This Update does not change the requirements for the presentation of expenses on the face of the income statement. | This Update is to be applied prospectively for annual periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption and retrospective application are permitted. We are currently evaluating the effect this Update will have on related disclosures and our processes, systems, and controls related to the disclosures. | ||||||||||||
| Software | ||||||||||||||
| ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software: Targeted Improvements to the Accounting for Internal-Use Software | This Update removes the prescriptive stage-based model previously used for capitalization. Capitalization is instead required to begin when management authorizes funding, and the project is likely to be completed and used as intended using the probable-to-complete threshold. Additionally, this Update consolidates guidance applying the new software development principles to website development. | This Update is to be applied using either a prospective, modified transition, or retrospective approach and will be effective as of January 1, 2028. Early adoption of this Update is permitted. The adoption of this Update is not expected to have a material impact on our Consolidated Financial Statements. | ||||||||||||
| Standard | Description | Financial Statements Impact | ||||||||||||
| Credit Losses | ||||||||||||||
| ASU 2025-08, Financial Instruments—Credit Losses: Purchased Loans | This Update introduces Purchased Seasoned Loans, extending the gross-up approach previously limited to purchased credit-deteriorated assets. An entity applying this approach would add the allowance for credit losses at the date of acquisition to the purchase price to determine the initial amortized cost basis. | This Update is to be applied prospectively for annual periods beginning January 1, 2027. Early adoption of this Update is permitted. The adoption of this Update is not expected to have a material impact on our Consolidated Financial Statements. | ||||||||||||
| Hedging | ||||||||||||||
| ASU 2025-09, Derivatives and Hedging: Hedge Accounting Improvements | This Update expands the hedged risks able to be aggregated in a cash flow hedge based on similar risk exposure, rather than shared risk exposure. Additionally, this Update allows an entity to select an alternative interest rate index or tenor without automatically dedesignating the hedge on forecasted interest payments of choose-your-rate debt instruments. This Update also expands the types of variable price components that can be designated as the hedged risk in a cash flow hedge of a forecasted purchase or sale of a nonfinancial asset. | This Update is to be applied prospectively for annual periods beginning January 1, 2027. Early adoption of this Update is permitted. The adoption of this Update is not expected to have a material impact on our Consolidated Financial Statements. | ||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 26, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Feb 25, 2021 | |
| 2019 | Feb 27, 2020 | |
| 2018 | Feb 26, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Feb 23, 2017 | |
| 2015 | Feb 26, 2016 | |
About New Standards Disclosures
New accounting standards disclosures describe recently adopted pronouncements and those not yet effective, along with management's assessment of their expected impact. This section provides an early warning system for upcoming changes to how a company reports its financial results, often years before the new rules take effect.
Key signals: when management describes a not-yet-adopted standard's impact as "material" or "still being evaluated," it signals potential significant changes to reported metrics upon adoption. Watch for standards that affect a company's core operations — for example, revenue recognition changes for software companies or lease accounting changes for retailers with large store footprints. The transition method chosen (full retrospective versus modified retrospective) affects comparability with prior periods. Companies that delay adoption to the latest permitted date may be struggling with implementation complexity. Compare the disclosed impact assessments against peers in the same industry to gauge whether management's expectations are reasonable.