FNB acquires Solon bank .

Staff report


The First National Bank of Pennsylvania has purchased Solon-based Park View Federal Savings Bank in an all- stock transaction valued at $106.4 million.

Park View’s 16 branches will be renamed under the F.N.B. brand and expand First National’s market share in the Greater Cleveland area.

Park View has been on the verge of collapse in recent years. A deal with United Community Financial Corp., the parent company of the Home Savings and Loan Co. of Youngstown, failed in 2007.

The purchase is F.N.B.’s latest. The bank announced in 2012 that it would aggressively pursue a strategy to grow its business through the mergers-and- acquisitions process.

F.N.B. is Youngstown’s second-largest bank by market share, according to the Federal Deposit Insurance Corp.

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