F.N.B, Parkvale merger approved by shareholders

F.N.B, Parkvale merger approved by shareholders

HErmitage, Pa.

F.N.B. Corp. and Parkvale Financial Corp. announced that Parkvale shareholders have approved the merger between the two companies.

The merger was announced June 15 and was recently approved by the boards of directors of both companies.

Shareholders of Parkvale will be entitled to receive 2.178 shares of F.N.B. common stock for each share of Parkvale common stock. The exchange ratio is fixed and is expected to be a tax-free exchange for shareholders of Parkvale.

The merger is expected to have a closing date of Jan. 1, 2012.