F.N.B. Corporation Reports Third Quarter 2008 Earnings

HERMITAGE, Pa., Oct. 23 /PRNewswire-FirstCall/ -- F.N.B. Corporation
(NYSE: FNB), a diversified financial services company, today reported
financial results for the third quarter of 2008. Net income increased to $23.5
million, or $0.27 per diluted share, compared to $14.5 million, or $0.17 per
diluted share, in the second quarter of 2008. Net income for the third quarter
of 2007 totaled $17.6 million, or $0.29 per diluted share. For the third
quarter of 2008, the Corporation's return on average tangible equity was a
strong 25.7%, its return on average equity was 10.0%, its return on average
tangible assets was 1.28% and its return on average assets was 1.13%.
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"We are pleased to deliver a solid quarter in this period of economic
stress. Our results reflect the successful balancing of our growth initiatives
with our strong risk management practices," said Bob New, President and Chief
Executive Officer of F.N.B. Corporation. "The strong organic growth we
experienced in loans, deposits and treasury management balances demonstrates
that we continue to win in the marketplace. We have benefited from a flight to
quality given the disruption in the banking industry and amongst some key
competitors in our markets."
Bob New added, "We are particularly proud to have achieved record levels
of assets at $8.5 billion and shareholders' equity at $1.0 billion. These
levels further demonstrate the strength of our company and businesses."
Third Quarter 2008 Results
During the third quarter, F.N.B. Corporation completed the acquisition of
Iron and Glass Bancorp, Inc., which bolstered the Corporation's existing
presence in Pittsburgh. The transaction added a $167 million loan portfolio,
$254 million in deposits and total assets of $310 million as of August 16,
2008.
Average loans increased 3.1%, or 12.2% on an annualized basis, compared to
the second quarter of 2008. Excluding the effects of the Iron and Glass
acquisition, average loan balances would have increased 1.6%, or 6.6% on an
annualized basis, compared to the second quarter. Organic loan growth was
primarily driven by increases in commercial, indirect auto and home equity
lending. Commercial and consumer lending growth reflect the continued
execution of our strategies. The increase in the indirect loan portfolio
reflects the benefit from a weakening of competitors in the automobile finance
market that provided the Corporation with an opportunity to increase balances
with improved pricing, while maintaining strong underwriting standards.
Average deposits and treasury management balances increased 4.2%, or 16.9%
on an annualized basis, compared to the second quarter of 2008. Excluding the
effects of the Iron and Glass acquisition, the growth rate would have been
2.1%, or 8.6% on an annualized basis, compared to the second quarter. Organic
growth occurred across all categories with business accounts and treasury
management leading the way.
Net interest income totaled $70.5 million for the third quarter of 2008
and increased 4.9%, or 19.6% annualized, from the prior quarter. In addition
to the growth in loans and deposits, the net interest margin improved to
3.97%, compared to 3.92% in the second quarter of 2008 and 3.73% in the third
quarter of 2007. The wider margin reflects slightly better pricing during the
quarter and a 3 basis point benefit from returning certain previously non-
accruing loans to accrual status based on sustained payment performance.
Non-interest income totaled $28.2 million for the third quarter of 2008
and increased 2.8%, or 11.3% annualized, compared to the prior quarter. In
addition to Omega merger impacts in the second quarter, the largest difference
between the two quarters was $1.1 million related to investments in bank
stocks. The second quarter of 2008 included a net loss of $0.4 million on
securities and the quarter comparison benefited from a $0.7 million mark-to-
market improvement in a limited partnership that invests in bank stocks. Non-
interest income represented 29% of net revenue for the third quarter of 2008.
Non-interest expense totaled $57.9 million for the third quarter of 2008
and decreased 6.6%, or 26.3% on an annualized basis, compared to the prior
quarter. The comparison benefited from continued strong expense control and
efficiencies from the Omega acquisition. The third quarter expenses included
approximately $1.6 million in merger and Iron and Glass related operating
expenses, while the second quarter included $3.6 million in Omega merger
costs. The efficiency ratio improved to 56.5% in the third quarter of 2008,
compared to 64.3% in the second quarter of 2008 and 57.4% in the third quarter
of 2007.
The Corporation recorded a provision for loan losses of $6.5 million in
the third quarter of 2008, representing an improvement of $4.5 million, or
40.7%, from the prior quarter. The current quarter's provision for loan losses
covered annualized net charge-offs of 30 basis points, good loan growth and
changes in credit quality. The annualized net charge-off ratio was stable with
the second quarter and the ending allowance for loan losses to total loans was
1.27%, representing a 1 basis point decrease compared to the second quarter.
During the quarter the Corporation placed two larger credits on non-
accrual and transferred one non-accruing loan to OREO. These actions resulted
in a $21.1 million net increase in non-performing assets to $92.2 million at
quarter's end. Non-performing assets to loans and OREO was 1.57% at the end of
the third quarter, representing an increase from 1.27% at the end of the
second quarter. Overall asset quality conditions in the Corporation's
Pennsylvania and Ohio markets continue to be good with non-performing assets
less than 1% of those loans and OREO. The economic environment in Florida
continues to be weak. While the Florida loan portfolio represents only 5% of
total loans, Florida's non-performing assets represent 38%, or $35.0 million,
of the Corporation's total non-performing assets.
The Corporation's capital ratios continue to exceed federal bank
regulatory agency "well capitalized" thresholds. The merger with Iron and
Glass, completed in the third quarter, included cash in the consideration and
resulted in a planned 20 basis point decrease to a 7.97% leverage ratio and 21
basis point decrease to a 5.00% tangible equity ratio. Both of these ratios
have improved over the December 31, 2007 levels of 7.47% for the leverage
ratio and 4.85% for the tangible equity ratio. Shareholders' equity totaled
$971.1 million at September 30, 2008, or $10.83 per common share, compared to
$919.5 million, or $10.69 per common share, at June 30, 2008. Tangible book
value was $4.39 per common share as of September 30, 2008, compared to $4.58
per common share at June 30, 2008.
Year-to-Date Results
For the nine months ended September 30, 2008, F.N.B. Corporation's net
income totaled $54.5 million, or $0.70 per diluted share, compared to $52.6
million, or $0.87 per diluted share for the same period of 2007. On a year-to-
date basis, the Corporation's return on tangible equity totaled 20.9%, its
return on equity was 9.0%, its return on tangible assets was 1.09% and its
return on assets was 0.98%.
Net interest income, on a fully taxable equivalent basis, increased 26.2%
over the same period of 2007, reflecting 22.7% growth in average loans
resulting from organic growth and the acquisitions of Omega and Iron and
Glass. Average deposits and treasury management balances grew 22.8% over the
same period of 2007. Net interest margin for the nine months ended September
30, 2008 increased to 3.88%, up 15 basis points compared to the same period a
year ago.
Non-interest income increased 27.7% for the first nine months of 2008,
compared to the same period last year. Non-interest income was 29% of net
revenue for the nine months ended September 30, 2008. Non-interest expense
increased 31.4% compared to the first nine months of 2007.
The efficiency ratio totaled 60.2% for the nine months ended September 30,
2008, compared to 58.0% for the same period of 2007. The increase reflects the
negative impact of $4.5 million in merger-related costs incurred this year.
Excluding these costs, the efficiency ratio would have been 58.4% for the
first nine months of 2008, up slightly from 58.0% for the same period last
year.
The provision for loan losses increased $13.6 million compared to the
year-ago period, largely reflecting additional provisions for the Florida loan
portfolio and the effect of organic growth in the Corporation's total loan
portfolio.
Conference Call
F.N.B. Corporation will host its regularly scheduled quarterly conference
call to discuss results for the third quarter of 2008 on Friday, October 24,
at 8:00 A.M. Eastern Time. Hosting the call will be Bob New, President and
Chief Executive Officer, and Brian Lilly, Chief Financial Officer.
The call can be accessed via the telephone by dialing (866) 575-6537 or
(913) 312-0865 for international callers; the confirmation number is 5054046.
A replay of the call will be available from 11:00 A.M. Eastern Time on the
day of the call until midnight Eastern Time on Friday, October 31, 2008. The
replay can be accessed by dialing (888) 203-1112 or (719) 457-0820 for
international callers; the confirmation number is 5054046. A transcript of the
call will be posted to the "Shareholder and Investor Relations" section of
F.N.B. Corporation's Web site at www.fnbcorporation.com.
About F.N.B. Corporation
F.N.B. Corporation, headquartered in Hermitage, PA, is a diversified
financial services company with total assets of $8.5 billion as of September
30, 2008. F.N.B. Corporation is a leading provider of commercial and retail
banking, leasing, wealth management, insurance, merchant banking and consumer
finance services in Pennsylvania and Ohio, where it owns and operates First
National Bank of Pennsylvania, First National Trust Company, First National
Investment Services Company, LLC, F.N.B. Investment Advisors, Inc., First
National Insurance Agency, LLC, F.N.B. Capital Corporation, LLC, Regency
Finance Company and Bank Capital Services. It also operates consumer finance
offices in Tennessee and loan production offices in Pennsylvania, Ohio,
Tennessee and Florida.
Mergent Inc., a leading provider of business and financial information
about publicly traded companies, has recognized F.N.B. Corporation as a
Dividend Achiever. This annual recognition is based on F.N.B. Corporation's
outstanding record of increased dividend performance. F.N.B. Corporation has
consistently increased dividend payments for 35 consecutive years.
The common stock of F.N.B. Corporation trades on the New York Stock
Exchange under the symbol "FNB". Investor information is available on F.N.B.
Corporation's Web site at www.fnbcorporation.com.
Forward-looking Statements
This press release of F.N.B. Corporation and the reports F.N.B.
Corporation files with the Securities and Exchange Commission often contain
"forward-looking statements" relating to present or future trends or factors
affecting the banking industry and, specifically, the financial operations,
markets and products of F.N.B. Corporation. These forward-looking statements
involve certain risks and uncertainties. There are a number of important
factors that could cause F.N.B. Corporation's future results to differ
materially from historical performance or projected performance. These factors
include, but are not limited to: (1) a significant increase in competitive
pressures among financial institutions; (2) changes in the interest rate
environment that may reduce interest margins; (3) changes in prepayment
speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general
economic conditions; (5) legislative or regulatory changes that may adversely
affect the businesses in which F.N.B. Corporation is engaged; (6)
technological issues which may adversely affect F.N.B. Corporation's financial
operations or customers; (7) changes in the securities markets or (8) risk
factors mentioned in the reports and registration statements F.N.B.
Corporation files with the Securities and Exchange Commission. F.N.B.
Corporation undertakes no obligation to revise these forward-looking
statements or to reflect events or circumstances after the date of this press
release.

F.N.B. CORPORATION
(Unaudited) 3rd Qtr 3rd Qtr
(Dollars in thousands, except per share data) 2008 - 2008 -
2nd Qtr 3rd Qtr
2008 2007 2008 2007
Third Second Third Percent Percent
Statement of earnings Quarter Quarter Quarter Variance Variance

Interest income $108,801 $105,297 $93,949 3.3 15.8
Interest expense 39,896 39,740 44,791 0.4 -10.9
Net interest income 68,905 65,557 49,158 5.1 40.2
Taxable equivalent
adjustment 1,569 1,608 1,169 -2.4 34.2
Net interest
income (FTE) 70,474 67,165 50,327 4.9 40.0
Provision for loan
losses 6,514 10,976 3,776 -40.7 72.5
Net interest
income after
provision (FTE) 63,960 56,189 46,551 13.8 37.4

Service charges 15,002 14,860 10,286 1.0 45.8
Insurance
commissions and
fees 3,959 4,183 3,301 -5.4 19.9
Securities
commissions and
fees 2,010 2,098 1,595 -4.2 26.1
Trust income 3,215 3,575 2,109 -10.1 52.4
Gain (loss) on sale
of securities 9 (415) (7) -102.2 -224.6
Gain on sale of
loans 477 530 455 -10.0 4.9
Other 3,561 2,625 1,943 35.7 83.3
Total non-interest
income 28,233 27,456 19,682 2.8 43.4

Salaries and
employee benefits 29,707 32,320 22,030 -8.1 34.8
Occupancy and
equipment 8,772 9,128 6,867 -3.9 27.7
Amortization of
intangibles 2,162 1,219 1,099 77.3 96.7
Other 17,270 19,347 11,282 -10.7 53.1
Total non-interest
expense 57,911 62,014 41,278 -6.6 40.3

Income before income
taxes 34,282 21,631 24,955 58.5 37.4
Taxable equivalent
adjustment 1,569 1,608 1,169 -2.4 34.2
Income taxes 9,208 5,518 6,162 66.9 49.4
Net income $23,505 $14,505 $17,624 62.0 33.4

Earnings per share
Basic $0.27 $0.17 $0.29 58.8 -6.9
Diluted $0.27 $0.17 $0.29 58.8 -6.9

Performance ratios
Return on average
equity 9.99% 6.26% 12.96%
Return on tangible
equity (1) 25.69% 14.34% 26.31%
Return on average
assets 1.13% 0.73% 1.15%
Return on tangible
assets (2) 1.28% 0.82% 1.25%
Net interest margin
(FTE) 3.97% 3.92% 3.73%
Yield on earning
assets (FTE) 6.20% 6.24% 7.03%
Cost of funds 2.50% 2.61% 3.68%
Efficiency ratio
(FTE) (3) 56.48% 64.25% 57.39%

Common stock data
Average basic shares
outstanding 87,291,008 85,632,970 60,154,574 1.9 45.1
Average diluted
shares outstanding 87,575,154 86,053,694 60,640,486 1.8 44.4
Ending shares
outstanding 89,634,163 86,025,842 60,555,834 4.2 48.0
Book value per
common share $10.83 $10.69 $8.94 1.4 21.1
Tangible book value
per common share $4.39 $4.58 $4.61 -4.1 -4.6
Dividend payout
ratio 91.24% 142.62% 82.47%

(1) Return on tangible equity is calculated by dividing net income less
amortization of intangibles by average equity less average intangibles.
(2) Return on tangible assets is calculated by dividing net income less
amortization of intangibles by average assets less average intangibles.
(3) The efficiency ratio is calculated by dividing non-interest expense
less amortization of intangibles by the sum of net interest income on a fully
taxable equivalent basis plus non-interest income.
(4) Treasury management accounts are included in short-term borrowings on
the balance sheet.
(5) Certain prior period amounts have been reclassified to conform to the
current period presentation.

F.N.B. CORPORATION
(Unaudited)
(Dollars in thousands, except per share data)
For the Nine Months
Ended September 30, Percent
Statement of earnings 2008 2007 Variance

Interest income $302,623 $276,056 9.6
Interest expense 119,196 130,629 -8.8
Net interest income 183,427 145,427 26.1
Taxable equivalent adjustment 4,440 3,456 28.5
Net interest income (FTE) 187,867 148,883 26.2
Provision for loan losses 21,073 7,461 182.4
Net interest income after
provision (FTE) 166,794 141,422 17.9

Service charges 40,048 30,116 33.0
Insurance commissions and fees 12,064 10,950 10.2
Securities commissions and fees 5,628 4,521 24.5
Trust income 9,014 6,389 41.1
Gain (loss) on sale of securities 338 1,037 -67.4
Gain on sale of loans 1,458 1,181 23.5
Other 9,307 6,779 37.3
Total non-interest income 77,857 60,973 27.7

Salaries and employee benefits 87,283 65,771 32.7
Occupancy and equipment 24,831 20,996 18.3
Amortization of intangibles 4,454 3,305 34.7
Other 47,720 34,924 36.6
Total non-interest expense 164,288 124,996 31.4

Income before income taxes 80,363 77,399 3.8
Taxable equivalent adjustment 4,440 3,456 28.5
Income taxes 21,422 21,327 0.4
Net income $54,501 $52,616 3.6

Earnings per share
Basic $0.70 $0.88 -20.5
Diluted $0.70 $0.87 -19.5

Performance ratios
Return on average equity 9.04% 13.04%
Return on tangible equity (1) 20.91% 26.63%
Return on average assets 0.98% 1.17%
Return on tangible assets (2) 1.09% 1.27%
Net interest margin (FTE) 3.88% 3.73%
Yield on earning assets (FTE) 6.34% 7.00%
Cost of funds 2.75% 3.64%
Efficiency ratio (FTE) (3) 60.15% 57.99%

Common stock data
Average basic shares outstanding 77,749,543 60,129,145 29.3
Average diluted shares outstanding 78,112,070 60,631,788 28.8
Ending shares outstanding 89,634,163 60,555,834 48.0
Book value per common share $10.83 $8.94 21.1
Tangible book value per common share $4.39 $4.61 -4.6
Dividend payout ratio 104.07% 81.57%

(1) Return on tangible equity is calculated by dividing net income less
amortization of intangibles by average equity less average intangibles.
(2) Return on tangible assets is calculated by dividing net income less
amortization of intangibles by average assets less average intangibles.
(3) The efficiency ratio is calculated by dividing non-interest expense
less amortization of intangibles by the sum of net interest income on a fully
taxable equivalent basis plus non-interest income.
(4) Treasury management accounts are included in short-term borrowings on
the balance sheet.

(5) Certain prior period amounts have been reclassified to conform to the
current period presentation.

F.N.B. CORPORATION
(Unaudited) 3rd Qtr 3rd Qtr
(Dollars in thousands) 2008 - 2008 -
2nd Qtr 3rd Qtr
2008 2007 2008 2007
Third Second Third Percent Percent
Average balances Quarter Quarter Quarter Variance Variance

Total assets $8,265,506 $7,989,171 $6,078,664 3.5 36.0
Earning assets 7,089,681 6,884,173 5,377,543 3.0 31.8
Securities 1,304,035 1,238,662 1,030,999 5.3 26.5
Loans, net of unearned
income 5,766,959 5,594,922 4,341,123 3.1 32.8
Allowance for loan
losses 73,656 68,308 51,670 7.8 42.6
Goodwill and intangibles 550,673 503,598 263,184 9.3 109.2

Deposits and treasury
management accounts (4) 6,381,969 6,121,908 4,717,121 4.2 35.3
Short-term borrowings 145,960 127,630 160,162 14.4 -8.9
Long-term debt 501,500 520,579 437,463 -3.7 14.6
Trust preferred
securities 205,637 205,806 151,031 -0.1 36.2
Shareholders' equity 936,452 932,530 539,698 0.4 73.5

Asset quality data
Non-accrual loans $74,161 $58,215 $21,346 27.4 247.4
Restructured loans 3,733 3,631 3,470 2.8 7.6
Non-performing loans 77,894 61,846 24,816 25.9 213.9
Other real estate owned 14,338 9,291 5,358 54.3 167.6
Non-performing assets $92,232 $71,137 $30,174 29.7 205.7

Net loan charge-offs $4,323 $4,132 $2,905 4.6 48.8
Allowance for loan
losses 74,755 71,483 52,122 4.6 43.4

Non-performing loans /
total loans 1.33% 1.10% 0.57%
Non-performing assets /
total loans + OREO 1.57% 1.27% 0.69%
Allowance for loan
losses / total loans 1.27% 1.28% 1.20%
Allowance for loan
losses / non-performing
loans 95.97% 115.58% 210.03%
Net loan charge-offs
(annualized) / average
loans 0.30% 0.30% 0.27%

Balances at period end
Total assets $8,457,351 $8,095,880 $6,124,174 4.5 38.1
Earning assets 7,222,178 6,916,434 5,404,247 4.4 33.6
Securities 1,335,781 1,274,424 1,035,959 4.8 28.9
Loans, net of unearned
income 5,876,041 5,606,409 4,358,604 4.8 34.8
Goodwill and intangibles 577,318 525,397 262,663 9.9 119.8

Deposits and treasury
management accounts (4) 6,525,952 6,251,439 4,738,340 4.4 37.7
Short-term borrowings 179,287 137,970 197,032 29.9 -9.0
Long-term debt 496,650 505,244 433,691 -1.7 14.5
Trust preferred
securities 205,555 205,724 151,031 -0.1 36.1
Shareholders' equity 971,074 919,458 541,593 5.6 79.3

Capital ratios
Equity/assets (period
end) 11.48% 11.36% 8.84%
Leverage ratio 7.97% 8.17% 7.43%
Tangible equity/tangible
assets (period end) 5.00% 5.21% 4.76%

F.N.B. CORPORATION
(Unaudited)
(Dollars in thousands) For the Nine Months
Ended September 30, Percent
Average balances 2008 2007 Variance

Total assets $7,455,911 $6,037,115 23.5
Earning assets 6,465,910 5,335,797 21.2
Securities 1,183,867 1,034,972 14.4
Loans, net of unearned income 5,258,391 4,285,334 22.7
Allowance for loan losses 65,129 52,217 24.7
Goodwill and intangibles 438,832 264,462 65.9

Deposits and treasury management
accounts (4) 5,731,754 4,666,439 22.8
Short-term borrowings 148,215 139,538 6.2
Long-term debt 499,671 468,483 6.7
Trust preferred securities 187,558 151,031 24.2
Shareholders' equity 805,540 539,366 49.3

Asset quality data
Non-accrual loans $74,161 $21,346 247.4
Restructured loans 3,733 3,470 7.6
Non-performing loans 77,894 24,816 213.9
Other real estate owned 14,338 5,358 167.6
Non-performing assets $92,232 $30,174 205.7

Net loan charge-offs $11,448 $7,935 44.3
Allowance for loan losses 74,755 52,122 43.4

Non-performing loans / total loans 1.33% 0.57%
Non-performing assets / total loans +
OREO 1.57% 0.69%
Allowance for loan losses / total
loans 1.27% 1.20%
Allowance for loan losses /
non-performing loans 95.97% 210.03%
Net loan charge-offs (annualized) /
average loans 0.29% 0.25%

Balances at period end
Total assets $8,457,351 $6,124,174 38.1
Earning assets 7,222,178 5,404,247 33.6
Securities 1,335,781 1,035,959 28.9
Loans, net of unearned income 5,876,041 4,358,604 34.8
Goodwill and intangibles 577,318 262,663 119.8

Deposits and treasury management
accounts (4) 6,525,952 4,738,340 37.7
Short-term borrowings 179,287 197,032 -9.0
Long-term debt 496,650 433,691 14.5
Trust preferred securities 205,555 151,031 36.1
Shareholders' equity 971,074 541,593 79.3

Capital ratios
Equity/assets (period end) 11.48% 8.84%
Leverage ratio 7.97% 7.43%
Tangible equity/tangible assets
(period end) 5.00% 4.76%

F.N.B. CORPORATION
(Unaudited) 3rd Qtr 3rd Qtr
(Dollars in thousands) 2008 - 2008 -
2nd Qtr 3rd Qtr
2008 2007 2008 2007
Third Second Third Percent Percent
Average balances Quarter Quarter Quarter Variance Variance

Loans:
Commercial $3,142,018 $3,040,881 $2,208,612 3.3 42.3
Direct installment 1,099,102 1,100,593 947,158 -0.1 16.0
Consumer LOC 314,992 299,710 244,975 5.1 28.6
Residential mortgages 655,719 651,728 480,702 0.6 36.4
Indirect installment 493,648 447,012 440,686 10.4 12.0
Other 61,480 54,998 18,990 11.8 223.8
Total loans $5,766,959 $5,594,922 $4,341,123 3.1 32.8

Deposits:
Non-interest bearing
deposits $907,146 $870,592 $642,197 4.2 41.3
Savings and NOW 2,826,205 2,660,157 2,065,469 6.2 36.8
Certificates of
deposit and other
time deposits 2,250,043 2,223,657 1,739,083 1.2 29.4
Total deposits 5,983,394 5,754,406 4,446,749 4.0 34.6
Treasury management
accounts (4) 398,575 367,502 270,372 8.5 47.4
Total deposits and
treasury management
accounts (4) $6,381,969 $6,121,908 $4,717,121 4.2 35.3

Balances at period end
Loans:
Commercial $3,228,768 $3,034,558 $2,234,236 6.4 44.5
Direct installment 1,095,115 1,102,654 948,986 -0.7 15.4
Consumer LOC 325,284 307,881 245,627 5.7 32.4
Residential mortgages 647,259 638,972 469,587 1.3 37.8
Indirect installment 514,007 464,825 440,812 10.6 16.6
Other 65,608 57,519 19,356 14.1 238.9
Total loans $5,876,041 $5,606,409 $4,358,604 4.8 34.8

Deposits:
Non-interest bearing
deposits $939,561 $901,120 $659,352 4.3 42.5
Savings and NOW 2,888,899 2,780,685 2,090,065 3.9 38.2
Certificates of
deposit and other
time deposits 2,313,397 2,196,859 1,734,767 5.3 33.4
Total deposits 6,141,857 5,878,664 4,484,184 4.5 37.0
Treasury management
accounts (4) 384,096 372,775 254,156 3.0 51.1
Total deposits and
treasury management
accounts (4) $6,525,953 $6,251,439 $4,738,340 4.4 37.7

F.N.B. CORPORATION
(Unaudited)
(Dollars in thousands) For the Nine Months
Ended September 30, Percent
Average balances 2008 2007 Variance
Loans:
Commercial $2,828,570 $2,162,342 30.8
Direct installment 1,044,462 927,897 12.6
Consumer LOC 288,945 249,083 16.0
Residential mortgages 592,771 485,446 22.1
Indirect installment 444,399 441,459 0.7
Other 59,244 19,107 210.1
Total loans $5,258,391 $4,285,334 22.7

Deposits:
Non-interest bearing deposits $793,836 $636,482 24.7
Savings and NOW 2,512,017 2,018,557 24.4
Certificates of deposit and other
time deposits 2,072,524 1,751,110 18.4
Total deposits 5,378,377 4,406,149 22.1
Treasury management accounts (4) 353,377 260,290 35.8
Total deposits and treasury
management accounts (4) $5,731,754 $4,666,439 22.8

Balances at period end
Loans:
Commercial $3,228,768 $2,234,236 44.5
Direct installment 1,095,115 948,986 15.4
Consumer LOC 325,284 245,627 32.4
Residential mortgages 647,259 469,587 37.8
Indirect installment 514,007 440,812 16.6
Other 65,608 19,356 238.9
Total loans $5,876,041 $4,358,604 34.8

Deposits:
Non-interest bearing deposits $939,561 $659,352 42.5
Savings and NOW 2,888,899 2,090,065 38.2
Certificates of deposit and other
time deposits 2,313,397 1,734,767 33.4
Total deposits 6,141,857 4,484,184 37.0
Treasury management accounts (4) 384,096 254,156 51.1
Total deposits and treasury
management accounts (4) $6,525,953 $4,738,340 37.7

SOURCE F.N.B. Corporation

Analyst-Institutional Investors, Frank Milano, +1-203-682-8343,
frank.milano@icrinc.com, or Media, Jennifer Reel, +1-724-983-4856,
+1-724-699-6389 (cell)