Banking News

F.N.B. Corporation Completes Acquisition of UB Bancorp

F.N.B. Corporation Completes Acquisition of UB Bancorp

FNB Welcomes New Customers in North Carolina

F.N.B. Corporation announced that it successfully completed its acquisition of Greenville, North Carolina-based UB Bancorp, including its wholly-owned banking subsidiary, Union Bank (Union).

As a result of the acquisition of Union, FNB has nearly $44 billion in total assets, $29 billion in total loans and $35 billion in total deposits on a proforma basis. This merger further increases FNB’s presence in North Carolina, moving its proforma deposit market share to ninth in the state,1 and also adds low-cost granular deposits which continue to be value accretive in the current economic environment. Union customers now have access to FNB’s enhanced online and mobile banking technology, including its award-winning mobile banking app and proprietary eStore.

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“The Union Bank acquisition leverages FNB’s current investments in the fast-growing North Carolina markets which now have more than 110 FNB branches and over 300 ATMs while also providing a favorable deposit mix,” said Vincent J. Delie, Jr., Chairman, President and Chief Executive Officer of F.N.B. Corporation. “We are excited to welcome Union Bank’s customers and introduce them to a more expansive suite of products and services, such as Insurance, Wealth Management, Private Banking, Treasury Management, Mortgage Banking and Capital Markets and Debt Capital Markets capabilities.”

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About F.N.B. Corporation

F.N.B. Corporation, headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in seven states and the District of Columbia. FNB’s market coverage spans several major metropolitan areas, including: Pittsburgh, PennsylvaniaBaltimore, MarylandCleveland, OhioWashington, D.C.CharlotteRaleighDurham and the Piedmont Triad (Winston-SalemGreensboro and High Point) in North Carolina; and Charleston, South Carolina. The Company has total assets of nearly $43 billion and approximately 340 banking offices throughout PennsylvaniaOhioMarylandWest VirginiaNorth CarolinaSouth CarolinaWashington, D.C. and Virginia.

FNB provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network, which is led by its largest affiliate, First National Bank of Pennsylvania, founded in 1864. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, government banking, business credit, capital markets and lease financing.

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