GREENVILLE, Pa., May 17 /PRNewswire-FirstCall/ -- F.N.B. Corporation held its Annual Meeting of Shareholders today in the Howard Miller Center of Thiel College in Greenville. Highlights of the meeting included re- election of four board members, an overview of the financial health and performance of F.N.B. Corporation and First National Bank of Pennsylvania, the Corporation's largest subsidiary, as well as a special presentation to a retired F.N.B. Corporation executive in recognition of his contributions to the growth and success of the Corporation.
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At the meeting, shareholders voted to re-elect Robert B. Goldstein, Connecticut; David J. Malone, Pittsburgh; William J. Strimbu, Brookfield, OH; and Archie O. Wallace, Greenville; to three-year terms on the F.N.B. Corporation Board of Directors.
In his remarks, Stephen Gurgovits, President and Chief Executive Officer of F.N.B. Corporation, called attention to the Corporation's continued commitment to delivery of excellent shareholder value.
"Today is especially significant because shareholders of record today are the beneficiaries of that commitment," he noted. "They are eligible to receive the latest high cash dividend payment approved by the Board at its April meeting."
In addition, the Corporation has once again been recognized by Mergent Inc. as a Dividend Achiever for its outstanding record of increased dividend performance. For thirty-three consecutive years F.N.B. Corporation has consistently increased annual dividend payments.
F.N.B. Corporation Chairman of the Board, Peter Mortensen, paid tribute to Colin Appleton for his long and distinguished career, his contributions to the success of First National Bank, and his service to the community in which he lived and worked.
"Under the leadership of Colin Appleton, First National Bank's trust services evolved into the sophisticated mix of products and services we offer today," commented Mortensen. "We are indebted to him for his commitment to make the First National Trust Company second to none in our service area."
Although he retired from First National Bank in 1998 as Senior Vice President and Trust Officer, Appleton remained involved as a member of the First National Trust Company Board of Directors until late in 2005, when he officially ended his forty-eight year career in financial services with the end of his term on the board.
Also at the meeting, Brian Lilly, F.N.B. Corporation Chief Financial Officer, presented an overview of the Corporation's financial performance in 2005 and the first quarter of 2006. Gary Roberts, President and Chief Executive Officer of First National Bank of Pennsylvania, presented an update of the Bank's operations, including retail strategies and tactics, innovative products, commercial lending, asset quality, the upcoming merger with The Legacy Bank in Harrisburg, progress in the Pittsburgh region, and the performance of the new loan production offices in Florida.
About F.N.B. Corporation:
F.N.B. Corporation, headquartered in Hermitage, PA, has total assets of $5.6 billion. F.N.B. is a leading provider of banking, wealth management, insurance, merchant banking and consumer finance services in Pennsylvania and Ohio, where it owns and operates First National Bank of Pennsylvania, First National Trust Company, First National Investment Services Company, LLC, F.N.B. Investment Advisors, Inc., First National Insurance Agency, LLC, F.N.B. Capital Corporation, LLC, and Regency Finance Company. It also operates consumer finance offices in Tennessee and loan production offices in Florida.
Mergent Inc., a leading provider of business and financial information about publicly traded companies, has recognized F.N.B. Corporation as a Dividend Achiever. This annual recognition is based on the Corporation's outstanding record of increased dividend performance. The Corporation has consistently increased dividend payments for 33 consecutive years.
The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol FNB. Investor information is available on F.N.B.'s website at http://www.fnbcorporation.com/.
This press release of F.N.B. Corporation and the reports F.N.B. Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of F.N.B. Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause F.N.B. Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among depository institutions; (2) changes in the interest rate environment that may reduce interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) less favorable than expected general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which F.N.B. Corporation is engaged; (6) changes in the securities markets; or (7) risk factors mentioned in the reports and registration statements F.N.B. Corporation files with the Securities and Exchange Commission. F.N.B. Corporation undertakes no obligation to release revisions to these forward- looking statements or to reflect events or circumstances after the date of this release.
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