M&A
confidence high
sentiment positive
materiality 0.80
FNB to acquire Howard Bancorp in $418M all-stock deal
FNB CORP/PA/
- Transaction valued at $21.96/share; Howard stockholders receive 1.8 FNB shares per share.
- Pro forma FNB: ~$41B assets, $32B deposits, $27B loans; expects 4% EPS accretion, minimal TBV dilution.
- Howard has $2.6B assets, 13 offices in Baltimore/DC; deal expected to close early 2022.
- Boards unanimously approved; closing subject to regulatory approvals and Howard stockholder vote.