F.N.B. Corp. expands Pittsburgh presence

HERMITAGE, Pa. — F.N.B. Corp. is expanding its presence in Pittsburgh with the purchase of its second banking company based in that city.

F.N.B. said Friday that it has signed a deal to acquire Iron & Glass Bancorp, the holding company for Iron & Glass Bank. The bank has eight branches on the south side of Pittsburgh.

The deal, which involves cash and stock, is valued at $86.1 million.

F.N.B. is the holding company for First National Bank of Pennsylvania. In 2005, it acquired NSD Bancorp., which was the holding company for NorthSide Bank. In that deal, First National gained 11 branches located from Fox Chapel to Cranberry.

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