The Herald, Sharon, Pa.

February 19, 2014

FNB closes deal in Md.


The Herald

HERMITAGE — Hermitage-based FNB Corp. said Tuesday the company completed its purchase of BCSB Bancorp Inc. in the Baltimore area.

As a result of the deal, BCSB’s affiliate Baltimore County Savings Bank has been merged into FNB’s First National Bank affiliate. First National Bank now holds a top 10 market share in the greater Baltimore area and operates a total of 24 banking offices in Maryland. Shares of BCSB Bancorp will no longer be traded on the NASDAQ stock exchange.

“We look forward to providing full-service banking solutions to our newest clients in the greater Baltimore area,’’ said Vincent J. Delie Jr., FNB’s president and CEO. “We are confident they will find value in the expertise of the FNB team, as well as our deep product set that includes commercial and consumer banking, wealth and insurance solutions.’’

FNB’s regional headquarters is in downtown Baltimore. In March, clients will have access to a full-service branch on the first floor of the headquarters building, which is now known as the First National Bank building. First National now operates more than 280 branches across four states.

FNB is a diversified financial services company operating in six states and three major metropolitan areas including Pittsburgh, Cleveland and now Baltimore. With the completion of the BCSB purchase, FNB’s assets total $14.2 billion.

FNB’s stock closed Tuesday at $12.09 a share, unchanged from Monday’s close. The announcement was made before markets opened.