F.N.B. Corp. to buy agency in Pittsburgh

HERMITAGE, Pa. -- F.N.B. Corp. is buying a Pittsburgh insurance agency.
Morrell, Butt & amp; Junker will become part of F.N.B.'s insurance division and is expected to add to company earnings next year. Morrell, Butt & amp; Junker offers property, casualty, life and health insurance.
Stephen Gurgovits, F.N.B. president and chief executive, said the company is complementary to its current business. Adding the Pittsburgh agency also will add management strength that the insurance division needs to grow, he said.
The Pittsburgh agency is owned by James Morrell, Randall Butt and Stephen Lesser. The agency's employees and owners will stay with F.N.B.
The agency was founded in 1992 and has revenues of $4 million a year. It has offices in Pittsburgh, Delmont, Pa., and Johnstown, Pa.
F.N.B. is the Hermitage-based parent company of First National Bank of Pennsylvania.
This is the third acquisition by F.N.B. this year. In April, the company's Regency Finance division acquired eight consumer finance offices in the Columbus area. In May, F.N.B. announced an agreement to buy Slippery Rock Financial Corp., the parent of First National Bank of Slippery Rock.