F.N.B. Corp. in Hermitage, Pa., announced Tuesday that longtime board member Peter Mortensen is retiring.
The former chairman of the $9 billion-asset F.N.B. plans to leave when his term expires in May. The company said it will not replace him but will operate with a 14-member board.
Mortensen has worked at the company for more than 50 years. He was the president and chief executive of First National Bank of Pennsylvania in Greenville from 1972 to 1987, its chairman from 1988 to 2004 and corporate chairman from 1988 until 2007.
During his tenure as F.N.B. chairman, it completed eight whole-bank acquisitions and bought a trust company.