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First National Bank buys 17 branches and $383m in deposits from Fifth Third Bank

Staff writer ▼ | September 8, 2015
First National Bank of Pennsylvania, the largest subsidiary of F.N.B. Corporation, entered into a deal to acquire approximately $383 million in retail and private banking deposits, 17 branch banking locations and related consumer loans in the Pittsburgh MSA from Fifth Third Bank.
First National Bank
Acquisition   F.N.B. Corporation is spreading
The transaction will be additive to FNB’s retail delivery channel, creating access to over 100 branches in the company’s Pittsburgh region, and is expected to close in early 2016, subject to regulatory review and approval.

Customers of the acquired branches will receive information regarding the transfer of their accounts in the next few months.

FNB, headquartered in Pittsburgh, was also recently named a top place to work for a fifth consecutive year by two separate Pittsburgh publications. F.N.B. holds a top retail deposit market share in Pittsburgh, PA, Baltimore, MD, and Cleveland, OH. F.N.B. has total pro-forma assets (with the proposed merger of Metro Bancorp, Inc.) of $19.6 billion and more than 300 banking offices throughout Pennsylvania, Maryland, Ohio and West Virginia.


 

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