FNB Corp. Completes Merger with Howard Bancorp
PITTSBURGH, Pa. — F.N.B. Corp., parent of First National Bank of Pennsylvania, announced Monday that it successfully completed its merger with Howard Bancorp Inc. on Jan. 22.
Howard Bancorp is based in Baltimore, Md. and has 13 branch locations, a commercial loan office in Delaware and more than 37,000 Howard and MoneyPass ATMs across the country, according to its website. As a result of the merger, FNB has approximately $42 billion in total assets, $27 billion in total loans and $33 billion in total deposits, according to a press release.
“The acquisition of Howard provides scale, financially and strategically, in the dynamic Mid-Atlantic market,” said Vincent J. Delie Jr., chairman, president and CEO of F.N.B. Corp. “We look forward to welcoming our new customers to an innovative experience, highlighted by comprehensive digital capabilities and a deep commitment to the clients, employees and communities we serve.”
Through the merger, FNB has assumed the No. 6 retail deposit share for banks in the Baltimore metropolitan statistical area, according to the release.
Upon completion Feb. 7 of the customer and branch branding conversion, all Howard customers will have access to FNB’s enhanced online and mobile banking technology, including its mobile banking app and proprietary eStore. FNB’s new customers also will enjoy a more expansive suite of products and services, such as Capital Markets and Debt Capital Markets capabilities, Insurance, Wealth Management, Private Banking, Treasury Management and Mortgage Banking.
Shares of Howard common stock will no longer be traded on NASDAQ.
Published by The Business Journal, Youngstown, Ohio.