F.N.B. Corporation (NYSE: FNB), a diversified financial services company, today announced that its Board of Directors declared a quarterly cash dividend on the Corporations common stock of 23.5 cents per share. The dividend is payable on June 15, 2007, to shareholders of record as of the close of business on June 1, 2007.
Stephen J. Gurgovits, President and CEO, commented, We are pleased to be able to demonstrate our commitment to delivering shareholder value by providing our investors with an attractive cash dividend. On a yield basis, our dividend continues to put F.N.B. among the leaders in our peer group.
Separately, today the Corporation held its Annual Meeting of Shareholders at the F.N.B. Technology Center in Hermitage, PA. At the meeting six directors were re-elected. Messrs. William B. Campbell, Stephen J. Gurgovits, Harry F. Radcliffe and John W. Rose were elected to three-year terms; Mr. Arthur J. Rooney, II was elected to a two-year term; and Ms. Dawne S. Hickton was elected to a one-year term.
Shareholders also ratified the appointment of Ernst & Young LLP as the Corporation's independent registered public accounting firm for 2007 and adopted the F.N.B. Corporation 2007 Incentive Compensation Plan.
About F.N.B. Corporation
F.N.B. Corporation, headquartered in Hermitage, PA had total assets of $6.0 billion at March 31, 2007. 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, including its Legacy Bank and Legacy Trust Company Divisions, 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 Tennessee and 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 Corporations outstanding record of increased dividend performance. The Corporation has consistently increased dividend payments for 34 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. Corporations Web site at http://www.fnbcorporation.com.
Forward-looking Statements
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. Corporations 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, chargeoffs
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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