F.N.B. Appoints Yadkin CEO to Board After Acquisition

F.N.B. Corp. in Pittsburgh will add the president and chief executive of Yadkin Financial to its board after buying the Raleigh, N.C., company.

The $22 billion-asset company said in a press release Tuesday that Scott Custer will also serve on its credit risk and Community Reinvestment Act committees. F.N.B. said it expects to complete its purchase of Yadkin early next year.

F.N.B. agreed in July to pay $1.4 billion to buy the $7.5 billion-asset Yadkin. The next month, the company announced plans to retain several Yadkin executives and assign them to key roles after the merger. Custer had previously announced that he would join F.N.B. at that time.

Last month F.N.B. reported a 32% increase in third-quarter profit from a year earlier, to $50.4 million.