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F.N.B. Corp reports developments for a bank holding company whose subsidiary network is led by First National Bank of Pennsylvania. News about FNB commonly covers commercial banking, consumer deposits and lending, wealth management, capital markets, treasury management and digital banking through eStore® and the Common app.
Recurring updates include quarterly earnings, net interest income trends, loan and deposit activity, dividend and share repurchase actions, leadership appointments, public finance capabilities, institutional banking relationships and product expansion across the company's multi-state footprint.
F.N.B. Corporation (FNB) announced a definitive merger agreement to acquire UB Bancorp (UBNC) in an all-stock transaction valued at $19.56 per share, amounting to approximately $117 million. The merger will enhance FNB's market position in North Carolina, increasing its proforma total assets to $43 billion and deposits to $35 billion. Union Bank, the wholly-owned subsidiary of UBNC, boasts $1.2 billion in assets and a strong deposit base. The merger is expected to be 2% accretive to FNB's earnings per share and is anticipated to close in late 2022, pending regulatory and shareholder approvals.
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F.N.B. Corporation (NYSE: FNB) announced a $2.5 million equity commitment to Black Tech Nation Ventures, aimed at increasing access to capital for underrepresented entrepreneurs, particularly those in technology. This investment reflects FNB's broader mission of promoting economic equality and supporting diverse communities across its seven-state footprint. BTN.vc is working towards a $50 million fundraising goal to assist early-stage tech firms.
F.N.B. Corporation (NYSE: FNB) has received three Top Workplaces 2022 Culture Excellence awards for Innovation, Leadership, and Work-Life Flexibility. The awards were based on employee feedback from nearly 2,000 participating companies. FNB was also recognized as a 2022 Top Workplace in South Carolina for the second consecutive year, totaling over 40 national and regional awards for workplace excellence. Vincent J. Delie Jr., CEO, emphasized FNB's commitment to fostering a supportive culture for employee growth and satisfaction.
F.N.B. Corporation (NYSE: FNB) has appointed Jennifer M. Reel as the new Chief Communications Officer. She will report directly to Vincent J. Delie, Jr., focusing on enhancing communication strategies across stakeholders. Reel, who has over 20 years of experience in the industry, will manage various communication aspects, including media relations and corporate reputation. Her promotion aims to strengthen FNB's growth and communication framework, reflecting the company's commitment to transparent stakeholder interactions.
On April 19, 2022, F.N.B. Corporation (NYSE: FNB) announced a quarterly cash dividend of $18.13 per share on its Non-Cumulative Perpetual Preferred Stock, Series E (NYSE: FNB.PRE). The dividend will be payable on May 15, 2022, to shareholders on record as of April 29, 2022. F.N.B. Corporation operates as a diversified financial services company, with total assets of $42 billion and over 340 banking offices across several states. The company provides a full range of banking services, including commercial and consumer banking, along with wealth management solutions.
F.N.B. Corporation (NYSE: FNB) has completed the acquisition of Howard Bancorp and announced a $150 million share repurchase program. In Q1 2022, net income available to common stockholders was $51 million, or $0.15 per diluted share, down from $91.2 million, or $0.28 per share in Q1 2021. Operating earnings per share were $0.26, excluding merger-related costs. Revenue increased 3.4% driven by net interest income growth. Loan balances rose 8.2%, while deposits grew 12.4%. The board's new share repurchase program is aimed at enhancing shareholder value.
F.N.B. Corporation (NYSE: FNB) has declared a quarterly cash dividend of $0.12 per share on its common stock. This dividend is set to be paid on June 15, 2022, to shareholders recorded as of the close of business on June 3, 2022. Headquartered in Pittsburgh, Pennsylvania, FNB operates across seven states and the District of Columbia, offering a variety of financial services. The corporation possesses total assets approximating $42 billion and maintains over 340 banking offices in multiple states.
F.N.B. Corporation (NYSE: FNB) has been recognized by Forbes as one of the World's Best Banks for the second consecutive year, ranking among 75 banks in the U.S. and 435 globally. This accolade is based on consumer feedback assessing satisfaction and trust. CEO Vincent J. Delie Jr. noted that this recognition reflects FNB's commitment to customer experience. In 2022, FNB was also named among America's Best Banks and earned multiple awards for excellence in commercial banking and workplace culture.
F.N.B. Corporation (NYSE: FNB) will release its first-quarter 2022 financial results on April 18, 2022, after market close. A conference call to discuss these results is scheduled for April 19, 2022, at 8:30 AM ET. Key executives, including CEO Vincent J. Delie, Jr. and CFO Vincent J. Calabrese, Jr., will lead the call. Participants can pre-register for the call and access related materials via FNB's website. The replay will be available until April 26, 2022.