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The $9.7 billion-asset F.N.B. said late Wednesday that it would pay $130 million for Parkvale in an all-stock deal priced at 1.95 times the seller's tangible book value.
June 16
Shareholders for Parkvale Financial Corp. in Monroeville, Pa., have approved the company's sale to F.N.B. Corp.
The companies said in a press release Friday that the deal is expected to close Jan. 1. Under an agreement unveiled in June, shareholders of the $1.8 billion-asset Parkvale will receive about 2.2 shares of F.N.B. common stock for each Parkvale share.
F.N.B., based in Hermitage, Pa., has $9.95 billion in assets.
