F.N.B. Corporation Expands Capital Markets Capabilities with the Addition of Corporate Investment Banking and Advisory Services

Rhea-AI Summary

F.N.B. (NYSE: FNB) announced a definitive agreement to acquire Raptor Partners , an independent investment banking firm. Raptor specializes in mergers and acquisitions, corporate finance, valuation advisory, and private capital raising. This acquisition aims to enhance FNB's capital markets capabilities and diversify its non-interest income. Over the past decade, FNB has seen a 137% increase in revenue due to its capital markets investments. Upon closing, Raptor's founder and president, Craig Wolfanger, will join FNB as Managing Director and Head of Investment Banking. The transaction is expected to close in Q2 2025, pending customary conditions.

Positive

• Acquisition of Raptor Partners enhances FNB's capital markets capabilities.
• FNB's capital markets investments have driven a 137% increase in revenue over the past decade.
• Raptor Partners has completed transactions worth nearly $40 billion, bringing substantial expertise to FNB.

Negative

• The transaction is subject to customary closing conditions, which may introduce uncertainties.

PITTSBURGH, April 8, 2025 /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) and its wholly owned broker dealer subsidiary announced today that it has entered into a definitive agreement to acquire Raptor Partners LLC (Raptor), an independent investment banking firm focused on delivering financial advisory services to public and private companies.

Raptor, a Pittsburgh-based company, is comprised of a team of experienced professionals with an emphasis in mergers and acquisitions, corporate finance, valuation advisory, and private capital raising. Upon closing, Raptor will contribute to FNB's ongoing strategy to grow and diversify non-interest income with significant capital markets capabilities.

"FNB has continually invested in its Capital Markets capabilities, which positions us as a trusted advisor for our clients and has driven a 137% increase in revenue over the past decade. The addition of investment banking rounds out our offerings, enabling FNB to provide clients with advisory services throughout their entire business life cycle," said F.N.B. Corporation Chairman, President and Chief Executive Officer, Vincent J. Delie, Jr. "We believe this is an opportune time to invest in FNB's investment banking platform to advise our middle market and large corporate clients given the scale of our company and the changing economic outlook."

"We are excited to join with FNB to offer financial advisory services to new and existing clients," said Raptor Partners LLC Founder and President, Craig Wolfanger. "Raptor Partners has completed hundreds of transactions with an aggregate value of nearly $40 billion across a variety of industries, bringing a wealth of knowledge, expertise, and experience to FNB."

Upon closing of the acquisition, Wolfanger will join FNB as Managing Director and Head of Investment Banking. The transaction is expected to close in the second quarter of 2025, subject to the satisfaction of customary closing conditions. 

Cautionary Statement Regarding Forward-Looking Information
Certain statements contained in this press release may not be based upon historical facts and are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. This press release contains "forward-looking statements" which may include, but are not limited to, statements regarding the outlook and expectations of FNB and with respect to its acquisition of Raptor, the strategic benefits and financial benefits of the acquisition, including the expected impact of the transaction on FNB's future financial performance.

Forward-looking statements are typically identified by words such as "believe," "plan," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "will," "should," "project," "goal" and other similar words and expressions. Forward-looking statements are subject to risks, uncertainties and assumptions which may change over time or as a result of unforeseen circumstances. Future events or circumstances may change our expectations or outlook and may affect the nature of the assumptions, risks and uncertainties to which forward-looking statements are subject. The forward-looking statements in this press release pertain only to the date of this press release, and FNB disclaims any obligation to update or revise any forward-looking statements, except as required by law. FNB cautions readers not to place undue reliance on such forward-looking statements in this press release, in that actual results or future events may differ, possibly materially, from those that are anticipated in these forward-looking statements because of a variety of factors, many beyond the control of FNB. These forward-looking statements include, without limitation, those relating to the benefits and synergies expected from the acquisition.

Forward-looking statements contained in this press release are subject to, among others, certain risks, uncertainties, factors and assumptions which may include, but are not limited to, the ability of FNB to obtain the anticipated benefits and synergies, prospects, fee income and operating results of the acquisition.

These forward-looking statements are also subject to the principal risks and uncertainties applicable to FNB's businesses and activities generally that are disclosed in FNB's 2024 Annual Report on Form 10-K and other documents FNB files with the SEC. FNB's SEC filings are accessible on the SEC website at www.sec.gov.

About F.N.B. Corporation
 F.N.B. Corporation (NYSE: FNB), 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, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington, D.C.; Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina; and Charleston, South Carolina. The Company has total assets of $49 billion and approximately 350 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, South Carolina, Washington, 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. The consumer banking segment provides a full line of consumer banking products and services, including deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. FNB's wealth management services include asset management, private banking and insurance.

The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol "FNB" and is included in Standard & Poor's MidCap 400 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Customers, shareholders and investors can learn more about this regional financial institution by visiting the F.N.B. Corporation website at www.fnbcorporation.com.

About Raptor Partners LLC
Raptor Partners is a leading independent investment banking firm focused on delivering thoughtful, insightful and actionable financial advisory services to U.S. and international public and private companies. The firm's services include mergers and acquisitions advisory, corporate finance advisory, valuation advisory services, and private capital raising.

Raptor Partners' professionals have nearly $40 billion in transactional experience across multiple industry categories, including Specialty Manufacturing, Engineered Products, Healthcare, Life Sciences & Safety, Software & Technology, Business Services, and Consumer Products & Services. The firm is recognized for its senior-level attention and unbiased, conflict-free advice.

 

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SOURCE F.N.B. Corporation

FAQ

What does the acquisition of Raptor Partners mean for FNB shareholders?

The acquisition is expected to enhance FNB's capital markets capabilities and diversify non-interest income.

When is the FNB acquisition of Raptor Partners expected to close?

The transaction is expected to close in the second quarter of 2025, pending customary conditions.

How has FNB's revenue been impacted by its capital markets investments?

FNB's capital markets investments have driven a 137% increase in revenue over the past decade.

Who will lead FNB's investment banking division after the acquisition?

Craig Wolfanger, Raptor Partners' founder, will join FNB as Managing Director and Head of Investment Banking.

What is the value of transactions completed by Raptor Partners ?

Raptor Partners has completed transactions with an aggregate value of nearly $40 billion.