F.N.B. Corporation completes acquisition of UB Bancorp

F.N.B. Corporation (FNB) announced that it successfully completed its acquisition of Greenville, North Carolina-based UB Bancorp (UBNC), including its wholly-owned banking subsidiary, Union Bank. As a result of the acquisition of Union, FNB has nearly $44B in total assets, $29B in total loans and $35B in total deposits on a proforma basis. This merger further increases FNB’s presence in North Carolina, moving its proforma deposit market share to ninth in the state,1 and also adds low-cost granular deposits which continue to be value accretive in the current economic environment. "The Union Bank acquisition leverages FNB’s current investments in the fast-growing North Carolina markets which now have more than 110 FNB branches and over 300 ATMs while also providing a favorable deposit mix," said Vincent Delie, Jr., Chairman, President and Chief Executive Officer of F.N.B. Corporation. "We are excited to welcome Union Bank’s customers and introduce them to a more expansive suite of products and services, such as Insurance, Wealth Management, Private Banking, Treasury Management, Mortgage Banking and Capital Markets and Debt Capital Markets capabilities."