F.N.B. Corp. increasesdividend to 22 cents
HERMITAGE, Pa. -- F.N.B. Corp. has increased the regular cash dividend on its common stock to 22 cents per share, a 10 percent increase over last year's second-quarter dividend, payable June 15 to shareholders of record as of June 1. The bank, holding company for First National Bank of Pennsylvania and Metropolitan National Bank in Youngstown, also declared a 5 percent common stock dividend, payable May 31 to all common stockholders of record as of May 17.
Sky Financial to buyThree Rivers Bancorp
BOWLING GREEN -- Sky Financial Group, holding company for Sky Bank, has announced plans to acquire Three Rivers Bancorp, Inc. of Monroeville, Pa. and its subsidiary, Three Rivers Bank and Trust Company, in a $156.5 million transaction. Three Rivers Bank is a $1 billion commercial bank with 25 offices in the metropolitan Pittsburgh market area. Sky officials say the transaction will be completed in the fourth quarter, pending approval by federal regulators and Three Rivers stockholders.
When the acquisition is complete, Sky Financial Group will have $10.5 billion in total assets, $7.6 billion in total deposits and $784 million in total shareholders' equity, with 235 financial centers in Ohio, Pennsylvania, West Virginia, Indiana and Michigan. The combined company will have a market capitalization of $2.0 billion, ranking Sky Financial as the 51st largest bank holding company in the United States.
GE Aircraft Enginestakes part in AF project
EVENDALE, Ohio -- GE Aircraft Engines in this Cincinnati suburb will provide the engine for a prototype unmanned combat aircraft being developed for the U.S. Air Force.
Boeing Phantom Works, Boeing's research and development division, will use the F404 engine in the aircraft, called the X-45B Unmanned Combat Air Vehicle. GE Aircraft Engines will provide three engines for the flight test program of the aircraft, which is scheduled to fly in 2005.
From Vindicator staff and wire reports