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F.N.B. gets approval for NSD merger plan



Published: Thu, January 20, 2005 @ 12:00 a.m.



Companies expect completion Feb. 18.

HERMITAGE, Pa. -- F.N.B. Corp. announced that it has received approvals from the Office of the Controller of the Currency and the Pennsylvania Department of Banking for its applications concerning its planned merger of NSD Bancorp into F.N.B. Corp.

F.N.B. Corp. and NSD Bancorp announced Oct. 15, 2004, that they planned to merge. Completion of the merger is subject to approval by the NSD Bancorp shareholders at the shareholders' meeting scheduled for 10 a.m. Feb.18. Both companies anticipate that the merger will close and be effective at the close of business that day.

NSD Bancorp, the parent company of Northside Bank, is based in Pittsburgh. Northside Bank is a $532 million bank that operates 11 full-service branches in the communities north of Pittsburgh.

The agreement provides for the merger of NSD Bancorp into F.N.B. Corp., followed immediately by the merger of Northside Bank into F.N.B. Corp.'s subsidiary, First National Bank of Pennsylvania.

F.N.B. Corp., based in Hermitage, has total assets of $5.1 billion after its recently completed merger with Slippery Rock Financial Corp.




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