secwatch.observer — SEC 8-K summary
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Issuer:     FNB CORP/PA/ (FNB)
CIK:        0000037808
Form:       8-K
Filed at:   2022-06-01T23:59:59+00:00
Accession:  0001193125-22-164746
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FNB acquires UB Bancorp for $117M all-stock; ~2% EPS accretive
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- All-stock deal valued at $117M ($19.56/share); exchange ratio 1.61 FNB shares per UBNC share.
- UB Bancorp has $1.2B assets, $1.0B deposits (40% NIB), $0.7B loans as of March 31, 2022.
- Expected close late 2022; ~2% EPS accretive, <1% TBV dilution, ~2-year earnback, IRR >30%.
- Pro forma FNB: ~$43B assets, ~$35B deposits; top-10 NC deposit share in 7 of 10 largest MSAs.
- Management expects neutral CET1 impact; deal does not affect previously announced buyback.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/37808/000119312522164746/0001193125-22-164746-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/37808/000119312522164746/d341009d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-164746

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