F.N.B. Corp. in Hermitage, Pa., plans to sell 4.5 million shares of common stock to raise capital.

The $9.8 billion-asset company said late Tuesday that the offering is being held in conjunction with its inclusion in the Standard & Poor's SmallCap 600 index after the market closes Friday. Underwriters are allowed to sell an additional 675,000 shares if there is demand.

F.N.B. did not price the offering Tuesday, but based on the company's closing price that day the proposed offering could raise about $59 million.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.