FNB Achieves $20 Billion in Assets with Merger
PITTSBURGH – F.N.B. Corp. today announced that on Feb. 13, t successfully completed its merger with Harrisburg-based Metro Bancorp Inc.
As a result of the merger, F.N.B .has exceeded $20 billion in total assets and has expanded its regional retail delivery network to nearly 70 locations throughout 17 counties in central and eastern Pennsylvania.
F.N.B. has also assumed the No. 3 retail deposit share position in the Harrisburg-Carlisle metropolitan statistical area through the completion of the merger and is now the second largest bank based in Pennsylvania as measured by total assets.
After the close of trading Feb. 12, F.N.B. was also included in the S&P MidCap 400 given its increased market capitalization.
“Our merger with Metro adds significant scale for F.N.B., and is both financially and strategically attractive,” said Vincent J. Delie, Jr., president and CEO of F.N.B. Corp., in a prepared statement. “We are excited to welcome our new customers in central Pennsylvania and to introduce them to our innovative approach to banking, which brings together our leading technology and commitment to personal service.”
F.N.B .also elected former Metro chairman and CEO, Gary Nalbandian, to both the F.N.B. and First National Bank of Pennsylvania boards effective March 1.
F.N.B. operates more than 300 full-service locations across Pennsylvania, Ohio, Maryland and West Virginia.
Pictured: F.N.B. Corp.’s headquarters on Pittsburgh’s North Shore.
Copyright 2023 The Business Journal, Youngstown, Ohio.