PITTSBURGH, Jan. 12,
2024 /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB)
today announced that its Board of Directors declared the redemption
of all $110 million aggregate
liquidation preference of the Depositary Shares representing
interests in its 7.25% Fixed Rate / Floating Rate Non-Cumulative
Perpetual Preferred Stock, Series E (the "Series E Preferred
Stock") (NYSE: FNB PRE). Each Depositary Share represents a
1/40th interest in a share of the Series E Preferred
Stock. The quarterly cash dividend of $18.13 per share (equivalent to $0.45325 per depositary share or
1/40th interest per share) on the Series E Preferred
Stock will be paid on February 15,
2024, to shareholders of record as of the close of business
on January 31, 2024.
The redemption date for the Preferred Stock and related
Depositary Shares is February 15,
2024 (the "Redemption Date"). The cash redemption
price, payable on the Redemption Date for each share of Series E
Preferred Stock, will equal One Thousand
Dollars ($1,000.00), and
therefore, for each Depositary Share, will equal Twenty-Five Dollars ($25.00). Any quarterly dividend declared but not
paid prior to the Redemption Date will be paid as described
above.
Beginning on the Redemption Date, the Depositary Shares
representing the redeemed Preferred Stock will no longer be
outstanding and dividends will no longer accrue on such securities.
All Depositary Shares are held in book-entry form through The
Depository Trust Company ("DTC") and will be redeemed in accordance
with the procedures of DTC. Payment to DTC will be made by The Bank
of New York Mellon, the Depositary, in accordance with the Deposit
Agreement governing the Depositary Shares.
The Depositary's address is BNY Mellon, Attn: Corporate
Trust, 240 Greenwich Street 7E, New York,
NY 10286. Questions relating to the notice of redemption
and related materials should be directed to Elizabeth Modero via telephone at (212)
298-1372.
About F.N.B. Corporation
F.N.B. Corporation (NYSE: FNB), headquartered in Pittsburgh, Pennsylvania, is a diversified
financial services company operating in seven states and the
District of Columbia. FNB's market
coverage spans several major metropolitan areas including:
Pittsburgh, Pennsylvania;
Baltimore, Maryland; Cleveland, Ohio; Washington, D.C.; Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High
Point) in North Carolina;
and Charleston, South Carolina.
The Company has total assets of over $45
billion and approximately 350 banking offices throughout
Pennsylvania, Ohio, Maryland, West
Virginia, North Carolina,
South Carolina, Washington, D.C. and Virginia.
FNB 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, government
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. FNB's wealth management services include asset
management, private banking and insurance.
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
website at www.fnbcorporation.com.
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SOURCE F.N.B. Corporation
