PITTSBURGH, Aug. 17, 2016
/PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) today announced
that its Board of Directors declared a quarterly cash dividend of
12 cents per share on F.N.B.
Corporation's common stock. The dividend is payable on
September 15, 2016, to shareholders
of record as of the close of business on September 1, 2016.
FNB announced its intent to merge with Yadkin Financial
Corporation ("Yadkin") in July 2016,
creating a premier regional bank in the Mid-Atlantic and Southeast.
With the acquisition of Yadkin on a combined pro-forma basis,
FNB will have nearly $30 billion in
total assets and more than 400 full-service banking offices.
Cautionary Statement Regarding Forward-Looking
Information
This document contains forward looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, which contain F.N.B.'s expectations or
predictions of future financial or business performance or
conditions. Forward-looking statements are typically identified by
words such as "believe", "plan", "expect", "anticipate", "intend",
"outlook", "estimate", "forecast", "will", "should", "project",
"goal", and other similar words and expressions. These
forward-looking statements involve certain risks and uncertainties.
In addition to factors previously disclosed in F.N.B.'s and
Yadkin's reports filed with the SEC, the following factors among
others, could cause actual results to differ materially from
forward-looking statements or historical performance: failure to
obtain all regulatory approvals and meet other closing conditions
to the proposed merger between F.N.B. and Yadkin, including
approval by the shareholders of F.N.B. and Yadkin, respectively, on
the expected terms and time schedule; delay in closing the merger;
potential risks and challenges attendant to the successful
conversions of core data systems; difficulties and delays in
integrating the F.N.B. and Yadkin businesses or fully realizing
cost savings and other benefits; business disruption following the
merger; changes in asset quality and credit risk; the inability to
sustain revenue and earnings growth; changes in interest rates and
capital markets; inflation; customer acceptance of F.N.B. products
and services; potential difficulties encountered by F.N.B. in
expanding into a new and remote geographic market; customer
borrowing, repayment, investment and deposit practices; customer
disintermediation; the introduction, withdrawal, success and timing
of business initiatives; competitive conditions; the inability to
realize cost savings or revenues or to implement integration plans
and other consequences associated with mergers, acquisitions and
divestitures; economic conditions; and the impact, extent and
timing of technological changes, capital management activities, and
other actions of the Office of the Comptroller of the Currency, the
Board of Governors of the Federal Reserve System and legislative
and regulatory actions and reforms. F.N.B. does not undertake any
obligation to revise these forward-looking statements or to reflect
events or circumstances after the date of this document.
Additional Information About the Merger and Where to Find
It
Communications in this document do not constitute an
offer to sell or the solicitation of an offer to buy any securities
or a solicitation of any vote or approval. In connection with the
proposed merger, F.N.B. will file with the SEC a Registration
Statement on Form S-4 that includes a Joint Proxy Statement of
F.N.B. and Yadkin and a Prospectus of F.N.B., as well as other
relevant documents concerning the proposed transaction.
SHAREHOLDERS OF F.N.B. CORPORATION AND YADKIN FINANCIAL
CORPORATION ARE URGED TO READ THE REGISTRATION STATEMENT AND THE
JOINT PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED MERGER WHEN
IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH
THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE
DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT
THE PROPOSED MERGER.
The Joint Proxy Statement/Prospectus and other relevant
materials (when they become available), and any other documents
F.N.B. and Yadkin have filed with the SEC, may be obtained free of
charge at the SEC's internet site, http://www.sec.gov. Copies
of the documents F.N.B. has filed with the SEC may be obtained,
free of charge, by contacting James G.
Orie, Chief Legal Officer, F.N.B. Corporation, One F.N.B.
Boulevard, Hermitage, PA 16148,
telephone: (724) 983-3317; and copies of the documents Yadkin has
filed with the SEC may be obtained free of charge at Yadkin's
website at www.yadkinbank.com.
F.N.B. and Yadkin and certain of their directors and executive
officers may be deemed to be participants in the solicitation of
proxies from the shareholders of Yadkin in connection with the
merger. Information concerning such participants' ownership of
Yadkin common stock will be set forth in the Joint Proxy
Statement/Prospectus regarding the merger when it becomes
available.
About F.N.B. Corporation
F.N.B. Corporation (NYSE:
FNB), headquartered in Pittsburgh,
Pennsylvania, is a diversified financial services company
operating in six states and three major metropolitan areas. It
holds a top retail deposit market share in Pittsburgh, PA, Baltimore, MD, and Cleveland, OH. The Company has total assets of
more than $21 billion and more than
300 banking offices throughout Pennsylvania, Maryland, Ohio and West
Virginia. F.N.B. provides a full range of commercial
banking, consumer banking and wealth management solutions through
its subsidiary network which is led by its largest affiliate, First
National Bank of Pennsylvania,
founded in 1864. Commercial banking solutions include corporate
banking, small business banking, investment real estate financing,
international banking, business credit, capital markets and lease
financing. The consumer banking segment provides a full line of
consumer banking products and services, including deposit products,
mortgage lending, consumer lending and a complete suite of mobile
and online banking services. F.N.B.'s wealth management services
include asset management, private banking and insurance. The
Company also operates Regency Finance Company, which has more than
70 consumer finance offices in Pennsylvania, Ohio, Kentucky and Tennessee. The common stock of F.N.B.
Corporation trades on the New York Stock Exchange under the symbol
"FNB" and is included in Standard & Poor's MidCap 400 Index
with the Global Industry Classification Standard (GICS) Regional
Banks Sub-Industry Index. Customers, shareholders and investors can
learn more about this regional financial institution by visiting
the F.N.B. Corporation web site at www.fnbcorporation.com.
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SOURCE F.N.B. Corporation