FNB Corp.'s recent growth spurt means the Hermitage-based bank for the first time will be subject to federal limits on debit card fees.
The Pittsburgh region's third biggest retail bank fell under the new rules starting July 1, chief financial officer Vincent Calabrese told analysts in a conference call Wednesday, a day after FNB reported flat profits for the second quarter.
He estimated the limits would trim debit card income by about $2.5 million per quarter. The biggest impact is expected in the third quarter, with expense cuts and other moves expected to fully offset the shortfall over time, he said.
Since the end of 2011, big banks have been subject to the caps, which limit the fees they collect from merchants every time customers swipe their debit cards. The limits don't apply to financial institutions with less than $10 billion in assets.
FNB, which completed the acquisitions of Monroeville-based Parkvale Savings in 2012 and Maryland's BankAnnapolis in April and has two other acquisitions pending, now has assets of $12.6 billion.
After the market closed Tuesday, FNB reported net income of $29.2 million, or 20 cents per share, for the three months ended June 30 compared with $29.1 million, or 21 cents, in the year-ago quarter.
Shares rose 7 cents Wednesday to close at $13.29.
Patricia Sabatini: firstname.lastname@example.org or 412-263-3066.