F.N.B. Corporation Reports Second Quarter 2009 Results

July 23, 2009

F.N.B. CORPORATION REPORTS SECOND QUARTER 2009 RESULTS

Hermitage, PA – July 23, 2009 – F.N.B. Corporation (NYSE: FNB), a diversified financial services company, today reported financial results for the quarter ended June 30, 2009. For the second quarter of 2009, net income available to common shareholders was $9.1 million, or $0.10 per diluted common share, compared to net income of $14.3 million, or $0.16 per diluted common share, in the first quarter of 2009. For the second quarter of 2008, net income totaled $14.5 million, or $0.17 per diluted share.  F.N.B. Corporation’s performance ratios this quarter were as follows: return on average tangible common equity (non-GAAP measure) was 10.84%; return on average equity was 4.05%; return on average tangible assets (non-GAAP measure) was 0.59% and return on average assets was 0.49%. A reconciliation of GAAP measures to non-GAAP measures is included with the tables that accompany this press release.

Results for the second quarter of 2009 included a $4.0 million (pre-tax) FDIC special assessment, which reduced net income available to common shareholders by $2.6 million or $0.03 per diluted common share.
“We delivered another successful quarter for F.N.B.,” said Stephen J. Gurgovits, President and Chief Executive Officer of F.N.B. Corporation. “We strengthened our balance sheet with our common stock offering, made solid progress managing our Florida loan portfolio and continued to have success in capturing market share during this period of competitive disruption in our Pennsylvania markets.”

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