FNB Corp. and Integrity Financial Corporation Shareholders Approve Merger.ASHEBORO, N.C. -- Michael C. Miller, Chairman, President and Chief Executive Officer of FNB FNB First National Bank FNB Food Not Bombs FNB Food and Nutrition Board (Institute of Medicine, National Academy of Sciences) FNB Food and Beverage (industry) FNB Front Nouveau de Belgique Corp. (FNB) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : FNBN) and W. Alex Hall Alex Hall (born Patricia Anne Thompson, 19th July 1949 in Nuneaton, Warwickshire) is a British actress and Radio presenter. Early Life Her father was a semi-professional footballer for Nuneaton FC. , Jr., President and Chief Executive Officer of Integrity Financial Corporation (Integrity) (NASDAQ: IFCB IFCB International Federation for Cell Biology ) today announced the approval of FNB Corp. shareholders and Integrity Financial Corporation shareholders to complete the merger of Integrity into FNB. Pending receipt of regulatory approval, the transaction is expected to close in April. FNB will be known as FNB United Corp. following the merger. "We are pleased by the decision of our shareholders to welcome the Integrity franchise into the FNB family," commented Miller. "We believe that joining forces will enable us to grow within some of the greatest markets North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. offers, and we're glad that our shareholders agree." "We are equally excited by the strong show of support of our shareholders," added Hall. "First National is one of the strongest community banks in North Carolina, and we share a common vision with regard to community banking and customer service." Integrity shareholders met this morning at the Park Inn Gateway Conference Center in Hickory, North Carolina Hickory is a city in Catawba County, North Carolina, United States. Hickory has the 162nd largest urban area in the United States. It is the economic, social, and cultural center of the Catawba River Valley. , followed by an afternoon meeting of FNB shareholders at the AVS (Audio Video Coding Standard) A video compression technique developed by Chinese companies and supported by the Chinese government. Expected to provide better compression than MPEG-2, AVS was created to avoid paying royalties to the MPEG licensors, which are outside Banquet Centre in Asheboro, North Carolina Asheboro is a city in Randolph County, North Carolina, United States. The population was 21,672 at the 2000 census. It is the county seat of Randolph CountyGR6. Geography Asheboro is located at (35. . Approximately 99% of the votes cast at the Integrity meeting and 98% of the votes cast at the FNB meeting approved the merger of Integrity into FNB. Additionally, FNB Corp. shareholders voted to increase the number of authorized shares Authorized shares Number of shares authorized for issuance by a firm's corporate charter. of FNB common stock from 10 million to 50 million. The merger of Integrity with and into FNB will result in a $1.8 billion bank holding company with 41 community offices in 17 counties extending from the Central and Southern Piedmont and Sandhills Sandhills could be:
FNB Corp. is the central North Carolina-based bank holding company for First National Bank and Trust Company and Dover Mortgage Company. Opened in 1907, First National (MyYesBank.com) operates 25 community YES! Banks in Archdale, Asheboro, Biscoe, Burlington, China Grove, Ellerbe, Graham, Greensboro, Hillsborough, Kannapolis, Laurinburg, Pinehurst, Ramseur, Randleman, Rockingham, Salisbury, Seagrove, Siler City, Southern Pines and Trinity. Dover Mortgage Company (dovermortgage.com) operates 10 mortgage production offices in Carolina Beach, Charlotte, Goldsboro, Greensboro, Greenville, Lake Norman, Leland, Raleigh, Waxhaw and Wilmington. Through its subsidiaries, FNB Corp. offers a complete line of consumer, mortgage and business banking services, including loan, deposit, cash management, wealth management and internet banking services. The Federal Deposit Insurance Corporation Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. insures deposits up to applicable limits. Integrity Financial Corporation (integrityfinancialcorp.com) is the parent company of First Gaston Bank, including its divisions, Catawba Valley Bank and Northwestern Bank. Catawba Valley Bank began operations in 1995 and operates 12 community offices in Hickory, Mooresville, Newton and Statesville. Northwestern Bank of Wilkesboro began operations in 1992, operating community offices in Boone, Millers Creek, Taylorsville, Wilkesboro and West Jefferson. First Gaston Bank commenced operations in 1995 and operates five community offices in Belmont, Dallas, Gastonia, Mt. Holly and Stanley. FNB stock is traded on the NASDAQ National Market under the symbol FNBN. Market makers are Scott & Stringfellow, Keefe, Bruyette & Woods, Goldman Sachs, FIG Partners, Ferris Baker Watts, Knight Securities, Ryan Beck & Company, Sandler O'Neill & Partners, Morgan Keegan & Company, Howe Barnes Investments and Stern Agee and Leach. Integrity stock is traded on the NASDAQ SmallCap Market under the symbol IFCB. Market makers are Wachovia Securities, Scott & Stringfellow, Stern, Agee & Leach, Ryan Beck & Company and Anderson & Strudwick. This news release contains forward-looking statements, including estimates of future operating results and other forward-looking financial information for FNB and Integrity. These estimates constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and involve various risks and uncertainties. Actual results may differ materially due to such factors as: (1) expected cost savings from the mergers not materializing within the expected time frame; (2) revenues following the mergers not meeting expectations; (3) competitive pressures among financial institutions increasing significantly; (4) costs or difficulties related to the integration of the businesses of FNB and Integrity being greater than anticipated; (5) general economic conditions being less favorable than anticipated; and (6) legislation or regulatory changes adversely affecting the business in which the combined company will be engaged. FNB does not assume any obligation to update these forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. |
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