F.N.B. Corp. Names Pittsburgh as Headquarters

YOUNGSTOWN, Ohio -- F.N.B. Corp., parent company of First National Bank of Pennsylvania, announced today that it has formally named Pittsburgh as its corporate headquarters. Its operations center and support areas at its office building in Hermitage, Pa., will remain and employees there "will not be impacted by the headquarters announcement and the bank’s charter will remain in Greenville where it was established 150 years ago in 1864," the company said.

F.N.B. has maintained a regional headquarters at the company’s North Shore Campus since 2004. Its growth in Pittsburgh, the company’s largest market, has significantly contributed to its $14.5 billion in assets, according to the announcement, and F.N.B. now becomes the second largest bank holding company based in Pittsburgh.

F.N.B.’s growth in Pittsburgh has expanded from a single banking office in 1997 to over 84 locations and a No. 3 retail deposit market share today, the company said. Over the course of the last 10 years, F.N.B. has expanded its Pittsburgh campus to include executive offices, commercial banking, capital markets, private banking, commercial real estate lending, mortgage banking and marketing.

In its announcement, F.N.B. noted that its previous headquarters campus in Mercer County, Pa., has benefited from a capital investment of over $15 million dollars, "which includes state-of-the-art facilities and infrastructure enhancements necessary to support the company’s continued growth."

“Naming Pittsburgh as F.N.B. Corp.’s official headquarters is a logical progression in our evolution as a regional financial services organization,” stated Vincent J. Delie Jr., president and CEO. “Pittsburgh currently serves as the headquarters for our wealth and insurance lines of business, and its close proximity to Hermitage permits us to recruit effectively for both locations. This broadens our pool of potential employees, allowing us to choose from among the top financial professionals in the country to support our continued expansion.”

F.N.B. Corp. reported first-quarter net income available to common shareholders of $32.20 million, or 20 cents per diluted and basic share. This compares to $28.44 million the preceding quarter, or 18 cents a share, and $28.54 million the first quarter a year ago, or 20 cents a share.

The company employs more 3,200 with 1,800 individuals in western Pennsylvania, and nearly 800 professionals based in Pittsburgh.

F.N.B. operates more than 280 banking offices throughout Pennsylvania, Ohio, Maryland and West Virginia. The company also operates Regency Finance Company, which has more than 70 consumer finance offices in Pennsylvania, Ohio, Kentucky and Tennessee.

SOURCE: F.N.B. Corp.

Published by The Business Journal, Youngstown, Ohio.
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