FNB Honored for Response to Coronavirus Pandemic
PITTSBURGH, Pa. – F.N.B. Corp. has been recognized by Greenwich Associates as a standout bank for its response of the COVID-19 pandemic.
As part of its response, F.N.B. funded $2.6 billion in Paycheck Protection Program loans to nearly 20,000 businesses, provided support to more than 100 nonprofits and community organizations to educate businesses about PPP loans and has provided payment deferrals totaling $2.4 billion.
The bank also implemented internal safety measures, provided employees with more days through the paid and caregiver leaves programs, and made special payments totaling $1 million to frontline employees.
It has also donated $1 million to its foundation for COVID-19 relief efforts, is donating to local food banks, and is supporting employees’ volunteer activities.
“It is especially rewarding to have a third party assess and validate the exceptional efforts of our team using input from the clients they worked so hard to support during the crisis,” said President and CEO Vincent J. Delie Jr. in a statement. “Our ability to deliver premium service throughout the pandemic has been thanks to the dedication of our employees and the significant investments we have made over the years in our digital and analytics capabilities, which enabled us to adapt quickly in a challenging environment.”
Greenwich Associates, a data and analytics company working with financial service businesses, recognized also five other banks in the small-business banking segment of its Standout Banks Amid Crisis honors: Huntington National Bank, First Citizens Bank, Frost Bank, M&T Bank and Synovus.
“This is an incredibly important message for banks,” said Greenwich Associates managing director Chris McDonnell. “Despite the impact of COVID-19 and the necessity for widespread remote work policies, there is surprisingly little anticipated change between pre-COVID and post-COVID levels of branch utilization and meeting frequency with relationship managers for both small and mid-sized businesses.”
Published by The Business Journal, Youngstown, Ohio.