F.N.B. of Hermitage posts healthy first-quarter profits

HERMITAGE, Pa. — F.N.B. Corporation’s first-quarter profits increased as a result of loan growth and credit stabilization, the company announced after the stock markets closed today.

F.N.B., parent company of First National Bank, said that net income was $16 million for the first three months of 2010, up from $4.6 million in the previous quarter and $14.3 million in the first quarter of 2009.

“We are very pleased with our first-quarter results that reflect solid loan and deposit growth and stable credit quality,” Stephen Gurgovits, president and chief executive, said in a press release.

F.N.B. reported $5.9 billion in loans, up slightly from $5.8 billion a year earlier.

For the complete story, see Tuesday's Vindicator and Vindy.com