F.N.B. plans branching effort in nation's capital
F.N.B. Corp. in Pittsburgh plans to expand its retail reach by opening branches around Washington.
The $34 billion-asset company said in a press release Wednesday that it will also open branches in Northern Virginia.
Vince Delie, the company's chairman and CEO, said earlier this summer that he planned to add three branches around Washington, and that it was “highly likely” F.N.B. would open a loan production office or branches in Richmond, Va.
The D.C. retail play follows the bank's commercial expansion into the region.
F.N.B. has increased its loans, deposits and noninterest income around the nation's capital by rolling out services such as wealth management, treasury management, international banking and capital markets.
"We've been extremely encouraged by our commercial success in the Washington, D.C., market and look forward to continuing this growth trend for our retail products and services," Delie said in Wednesday's release.
The company has operated in Maryland for about five years. It has a large commercial office in Bethesda, Md.
F.N.B. follows a handful of other regional banks that have recently announced expansions into the lucrative Washington market.
WesBanco in Wheeling, W.Va., which also has a large presence in Pittsburgh, recently announced plans to enter the city through its deal to buy the $3.1 billion-asset Old Line Bancshares in Bowie, Md.