First National Bank to acquire 17 Fifth Third Bank branches in Pittsburgh.
Pittsburgh-based First National Bank (FNB) of Pennsylvania recently announced that the Office of the Comptroller of the Currency approved its request to acquire 17 branch locations in Pittsburgh’s metropolitan statistical area (MSA) from Fifth Third Bank.
The transaction is expected to close in 2016’s second quarter. No additional regulatory approvals are required to complete the operation.
Operating over 300 banking offices across Pennsylvania, Maryland, Ohio and West Virginia, First National Bank of Pennsylvania is FNB Corporation’s largest subsidiary. FNB Corporation is based in Pittsburgh and functions in three major metropolitan areas across six states. Holding a top retail deposit market share in Pittsburgh, Baltimore and Cleveland, FNB will count total pro-forma assets as $19.8 billion, including the proposed merger of Metro Bancorp Inc.
FNB of Pennsylvania was founded in 1864. It provides commercial, consumer and wealth management services. It offers commercial banking solutions from corporate and small business to investment, international, credit, capital markets and leasing services. Its consumer branch offers deposits, mortgage and personal lending and online banking.
FNB's wealth management services include asset management, private banking and insurance. FNB also operates Regency Finance Company, with over 70 consumer finance offices throughout Pennsylvania, Ohio, Kentucky and Tennessee.
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