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NAPLES, FL-FNB Corp. is acquiring control of about $2.4 billion in additional assets following the signing of a definitive merger agreement with Johnstown, PA-based Promistar Financial Corp. The merger is valued at about $427 million, based on the price of FNB’s publicly traded common stock at the close of markets on June 13.

FNB is an active commercial real estate lender in Southwest Florida.

The Naples company agreed to exchange 0.926 shares of its stock for each share of Promistar’s publicly traded common stock.

Once the agreement passes regulatory and shareholder approvals, FNB will control total assets of about $6.5 billion, $5.2 billion in deposits and 168 banking offices in Southwest Florida, West Pennsylvania and Northeast Ohio.

FNB would become the eighth largest banking holding company in Pennsylvania based on total deposits and the 65th largest bank holding company in the United States, according to industry estimates.

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