Jump to content

FNB Corporation

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by CSimons (talk | contribs) at 04:11, 14 September 2018 (→‎History: fix chronological paragraph order). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

F.N.B. Corporation
Company typePublic
NYSE: FNB
S&P 400 Component[1]
IndustryBanking
Financial services
Investment services
Founded1864 (1864)
HeadquartersPittsburgh, Pennsylvania, United States
Area served
Ohio, Pennsylvania, Maryland, West Virginia, North Carolina and South Carolina
Key people
Vincent J. Delie, Jr.
(chairman, president and CEO)
Number of employees
Approximately 4,800
Websitehttps://www.fnb-online.com/

F.N.B. Corporation is a financial services corporation based in Pittsburgh, Pennsylvania, and the holding company for its largest subsidiary, First National Bank. As of April 24, 2018, FNB has total assets of over $32 billion.[2] There are more than 400 First National Bank offices in Pennsylvania, Ohio, Maryland, West Virginia, North Carolina and South Carolina. The company has approximately 4,800 employees.[3]

History

First National Bank was founded in Mercer County, Pennsylvania in 1864 under the name The First National Bank of West Greenville and operated out of the house of then Bank President, Samuel P. Johnston, in Greenville, Pennsylvania.[4]

The bank remained a fixture in Mercer County through World War I, the Great Depression and World War II. In 1946, bank assets totaled approximately $2 million and the bank was still housed in one office.

FNB Corporation branches, April 2015

Across the next three decades, the bank continued to grow, and in 1974, F.N.B. Corporation was established as a financial services holding company for a growing family of business entities which included the bank, under then name The First National Bank of Mercer County and with an asset size of $120 million, and Regency Finance Company.

Along with completing the acquisition of ten branch offices from First National Bank of Pennsylvania in July 1992, First National Bank of Mercer County acquired the name and formally changed its name to the current First National Bank of Pennsylvania. Around this time, the First National Bank of Western Pennsylvania in nearby New Castle changed its name to First Western Bank to avoid confusion; that bank is now part of Huntington Bancshares after several other mergers.

As of 2003, the company had grown to assets of $4.6 billion with more than 125 banking offices and began trading common shares on the New York Stock Exchange under the ticker symbol “FNB.”[5] Today, it is included in Standard & Poor’s MidCap 400 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index.

Current Chief Executive Officer Vincent J. Delie, Jr., joined the bank in 2005 as president of the Pittsburgh Region. Since then, the company has shown tremendous growth, both organically and through a series of major mergers.[6]

In 2012, FNB acquired Parkvale Savings Bank, which was based in Monroeville.[7][8][9]

In 2016, FNB agreed to a $1.4 billion deal with Yadkin Financial of Raleigh, North Carolina,[10][11] the largest deal in the company's history, giving FNB 98 branches in North Carolina.[12] The merger was completed on March 11, 2017.[13]

In May 2017, FNB announced its regional headquarters would locate in a 22-story building in Raleigh to be called FNB Tower, with groundbreaking set for December 2017 and completion in 2019.[14]

In March 2018, FNB announced it would anchor a 31-story tower in Charlotte to serve as its regional headquarters.

Today, FNB is the second largest bank based in Pennsylvania measured by assets.[15] The company has locations in metropolitan markets including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; and Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina.

Corporate headquarters

In July 2014, FNB announced that Pittsburgh had officially been named the corporation’s headquarters.[16] FNB’s growth in Pittsburgh has expanded from a single banking office in 1997 to nearly 100 locations and a top three retail deposit market share today. Over the course of the last 10 years, FNB has continued to expand its Pittsburgh campus to include executive offices, commercial banking, capital markets, private banking, commercial real estate lending, mortgage banking, marketing and more.[17] FNB is the second-largest bank holding company based in Pittsburgh, measured by total assets.

Leadership

Vincent J. Delie, Jr., is chairman, president and CEO of F.N.B. Corporation and First National Bank.[18] He joined F.N.B. in 2005 as head of the Pittsburgh Region. In 2011, Delie became president of F.N.B. Corporation and in 2012 he was additionally named chief executive officer and elected to the board of directors. Delie reassumed his role as president of First National Bank when John Williams retired from the position in 2015.[19]

FNB affiliates

F.N.B. Corporation operates several financial services affiliates, including:[20]

  • First National Bank of Pennsylvania, its largest subsidiary, with more than 400 offices across a four-state footprint (as of March 2017)
  • First National Trust Company, chartered in 1934
  • F.N.B. Investment Services for individuals, corporations, and retirement funds
  • F.N.B. Investment Advisors, Inc., a registered investment adviser under the registered Investment Advisers Act of 1940 and with the Securities and Exchange Commission and Pennsylvania Securities Commission
  • First National Insurance Agency, offering Property and Casualty, Employee Benefits and Life Insurance coverage

Awards and recognition

FNB has received prominent industry and regional accolades including:

  • Winner of more than 40 Greenwich Excellence Awards since 2009, including six awards in 2017 for satisfaction among Small Business clients both nationally and regionally (Greenwich Associates Excellence Awards, 2017)[21]
  • Top mobile app among Northeastern regional banks for features and innovation (S&P Global Market Intelligence "2017 US Mobile Banking Landscape")
  • Nationally recognized with the President's "E" Award for Export Service. The "E" Award is the highest recognition any U.S. entity can receive for making a significant contribution to the expansion of U.S. exports (United States Department of Commerce 2018)
  • Top Workplaces (Pittsburgh Post-Gazette, 2011-2018)[22]
  • Top Workplaces (Cleveland Plain Dealer, 2015-2018)[23]
  • Best Places to Work, Finalist (Baltimore Business Journal, 2017-2018)[24]
  • Best Places to Work (Pittsburgh Business Times, 2011-2018)[25]
  • Industrialist of the Year Award – Vincent J. Delie, Jr., president and chief executive officer (Society of Industrial and Office Realtors® 2016)
  • Top 100 People – Vincent J. Delie, Jr. (PA Business Central, 2014-2016)[26]
  • Top 100 Organizations (PA Business Central, 2014-2016)[27]

References

  1. ^ "F.N.B. Set to Join the S&P MidCap 400; Rent-A-Center, Surgical Care Affiliates to Join S&P SmallCap 600". Prnewswire.com. February 9, 2016. Retrieved 2016-12-23.
  2. ^ "First National Bank". First National Bank. Retrieved 2017-03-13.
  3. ^ "About Us | First National Bank". Fnb-online.com. Retrieved 2017-01-07.
  4. ^ "First National Bank, Greenville, Mercer County, PA". Rootsweb.ancestry.com. Retrieved 2017-01-07.
  5. ^ "NYSE". NYSE. Retrieved 2017-01-07.
  6. ^ "General". Fnbcorporation.com. Retrieved 2017-01-07.
  7. ^ http://www.post-gazette.com/business/businessnews/2011/06/15/F-N-B-to-acquire-Parkvale-Savings-Bank/stories/201106150205
  8. ^ https://www.fnb-online.com/about-us/mergers/parkvale-financial-corporation
  9. ^ https://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=249872&parDT_END=99991231
  10. ^ Craver, Richard (July 21, 2016). "Yadkin Financial agrees to be sold to Pittsburgh bank for $1.4 billion". Winston-Salem Journal. Retrieved July 21, 2016.
  11. ^ DeMuth Jr., Chris (21 July 2016). "M&A Target Pops Over 50% - What Next?". Seeking Alpha. Yadkin. Retrieved 21 July 2016.
  12. ^ Craver, Richard (March 13, 2017). "F.N.B. completes conversion of Yadkin Bank, NewBridge branches". Winston-Salem Journal. Retrieved March 22, 2017.
  13. ^ "F.N.B. completes Yadkin deal". Pittsburgh Business Times. Retrieved 2017-03-13. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  14. ^ Ranii, David (May 23, 2017). "Raleigh is getting a new 22-story office tower". News & Observer. Retrieved May 23, 2017.
  15. ^ "F.N.B. climbs the ranks of Pennsylvania's biggest banks with latest deal". Bizjournals.com. Retrieved 2017-01-07.
  16. ^ "General". Fnbcorporation.com. Retrieved 2017-01-07.
  17. ^ "F.N.B.'s headquarters move more than symbolic". Bizjournals.com. Retrieved 2017-01-07.
  18. ^ "First National Bank". First National Bank. Retrieved 2016-03-02.
  19. ^ "First National Bank President John C. Williams, Jr., Announces Retirement". Prnewswire.com. Retrieved 2016-03-02.
  20. ^ "Corporate Overview | First National Bank". Fnbcorporation.com. Retrieved 2017-01-07.
  21. ^ "First National Bank". First National Bank. Retrieved 2018-02-20.
  22. ^ "2017 Top Workplaces winners by business size". Topworkplaces.com. Retrieved 2017-08-18.
  23. ^ "Northeast Ohio's Top Workplaces 2018: The list". Cleveland.com. 2018-06-17.
  24. ^ "Here are the Baltimore Business Journal's 40 Best Places to Work finalists". Bizjournals.com. 2018-04-10.
  25. ^ "Best Places to Work: Extra Large Category". Bizjournals.com. Retrieved 2017-01-07.
  26. ^ "Top 100 People | www.pabusinesscentral.com | PA Business Central / Marcellus Business Central / PA Business Woman". www.pabusinesscentral.com. Retrieved 2017-01-19.
  27. ^ "Top 100 Organizations | www.pabusinesscentral.com | PA Business Central / Marcellus Business Central / PA Business Woman". www.pabusinesscentral.com. Retrieved 2017-01-19.

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=FNB_Corporation&oldid=859452301"