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FNB Financial Announces Plans to Merge Operations.

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FNB Financial Services Corporation, a NC bank holding company, with wholly owned banking subsidiaries in North Carolina (FNB Southeast) and in Virginia (Black Diamond Savings Bank), recently announced plans to consolidate its operations. Notification has been filed with banking regulators to dissolve and convert the Black Diamond savings charter to a NC state banking charter.

FNB, with combined assets of $615 Million, acquired Norton, Virginia - based Black Diamond Savings Bank in 1999. Plans are for the Black Diamond offices in Norton, Pennington Gap and Richlands to be operated as FNB Southeast DBA Black Diamond Bank. Offices in Harrisonburg will operate as FNB Southeast.

Commenting on plans to consolidate, Ernest J. Sewell, President and Chief Executive Officer, said, "FNB has a long standing tradition of offering quality service and we anticipate expanding and enhancing the products and services offered to our customers in Virginia. This merger will allow us to take advantage of the efficiencies and economies that an acquisition normally brings."

Founded in 1910, FNB is community oriented, characterized by local affiliations and personalized services, while at the same time providing its customers with the financial sophistication and breadth of products usually associated with much larger regional banks.
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Publication:Business Wire
Geographic Code:1USA
Date:Apr 19, 2000
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