F.N.B. Completes Affiliation of Citizens Community Bancorp

Apr 30, 2001, 01:00 ET from F.N.B. Corporation

    NAPLES, Fla., April 30 /PRNewswire/ -- F.N.B. Corporation (Nasdaq: FBAN)
 today announced the successful completion of its merger with
 Citizens Community Bancorp Inc., (Nasdaq: CCBI) the parent of Citizens
 Community Bank of Florida. Headquartered on Marco Island, Florida, Citizens
 Community Bank has approximately $190 million in total assets and four branch
 offices.
     The transaction was a stock exchange of .524 shares of F.N.B. common
 stock, or the equivalent of $13.07 per share based on the closing price of
 F.N.B.'s stock last Friday, for each share of Citizens Community Bancorp
 common stock.  The merger will be accounted for as a pooling of interests on a
 fully diluted basis.
     As previously announced, the transaction will be neutral to F.N.B.'s
 earnings per share in 2001, and this is accurately reflected in the consensus
 street estimates.  In subsequent years, it is projected by management that
 this transaction will favorably impact F.N.B.'s earnings at a rate of more
 than 2 percent in 2002 and more than 4 percent in 2003.
     "We are delighted to join the F.N.B. family," said Richard Storm Jr.,
 Chairman and Chief Executive Officer of Citizens Community Bancorp.
 "Together, we will be able to better serve our customers with more banking
 products and services, increased lending limits and more convenient branch
 locations.  We also will be better suited to offer an expanded array of trust,
 insurance, investment management and private banking services."
     F.N.B. will integrate two of Citizens Community Bank's Naples area offices
 with its local affiliate, First National Bank of Naples.  The bank's main
 location on Marco Island will continue to operate as Citizen Community Bank
 with Storm serving as President and Chief Executive Officer.  A fourth
 Citizens Community Bank branch in Naples will be combined with an existing
 First National Bank branch located less than a mile away on Harbour Drive.
 The company expects to complete this conversion by the end of May.
     "Customers of both banks will benefit from the increase in the number of
 banking locations and the expansion of trust and other financial services,"
 said Garrett S. Richter, President and Chief Executive Officer of First
 National Bank of Naples.  "We look forward to welcoming customers of Citizens
 Community Bank into our family."
     With the completion of this merger, F.N.B. is now the second-largest
 financial institution in the Naples/Collier County area with 11 offices and
 more than $725 million in deposits.
     "This affiliation is consistent with our steady growth pattern and
 provides F.N.B. with the opportunity to significantly boost market share in
 one of the nation's fastest-growing metropolitan areas," said Gary L. Tice,
 President and Chief Executive Officer of F.N.B.
     According to the 2000 U.S. Census, the Naples/Collier County area posted
 the nation's second-fastest population growth during the last decade.
 Furthermore, the local median household income of $65,000 leads the state and
 ranks among the highest in the nation.
     F.N.B. Corporation is a $4.2 billion diversified financial services
 company headquartered in Naples, Florida.  The company currently owns and
 operates traditional community banks, insurance agencies, a consumer finance
 subsidiary and First National Trust Company with a total of 157 offices in
 Florida, Pennsylvania, Ohio and Tennessee.
 
     The preceding release contains certain "forward-looking statements"
 regarding F.N.B. Corporation and Citizens Community Bancorp Inc.  All forward-
 looking statements involve risk and uncertainty and actual results could
 differ materially from the anticipated results or other expectations expressed
 in the forward-looking statements.  A discussion of factors that could cause
 actual results to differ materially from those expressed in the forward-
 looking statements is included in each of F.N.B.'s and Citizens Community
 Bancorp's recent filings with the U.S. Securities and Exchange Commission.
 
     Copies of this news release are available over the Internet at
 www.fnbcorporation.com or by contacting F.N.B. at 1-800-262-7600, extension
 1676.  Shares of the corporation's common stock are traded on The Nasdaq Stock
 Market under the symbol FBAN.
 
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SOURCE F.N.B. Corporation
    NAPLES, Fla., April 30 /PRNewswire/ -- F.N.B. Corporation (Nasdaq: FBAN)
 today announced the successful completion of its merger with
 Citizens Community Bancorp Inc., (Nasdaq: CCBI) the parent of Citizens
 Community Bank of Florida. Headquartered on Marco Island, Florida, Citizens
 Community Bank has approximately $190 million in total assets and four branch
 offices.
     The transaction was a stock exchange of .524 shares of F.N.B. common
 stock, or the equivalent of $13.07 per share based on the closing price of
 F.N.B.'s stock last Friday, for each share of Citizens Community Bancorp
 common stock.  The merger will be accounted for as a pooling of interests on a
 fully diluted basis.
     As previously announced, the transaction will be neutral to F.N.B.'s
 earnings per share in 2001, and this is accurately reflected in the consensus
 street estimates.  In subsequent years, it is projected by management that
 this transaction will favorably impact F.N.B.'s earnings at a rate of more
 than 2 percent in 2002 and more than 4 percent in 2003.
     "We are delighted to join the F.N.B. family," said Richard Storm Jr.,
 Chairman and Chief Executive Officer of Citizens Community Bancorp.
 "Together, we will be able to better serve our customers with more banking
 products and services, increased lending limits and more convenient branch
 locations.  We also will be better suited to offer an expanded array of trust,
 insurance, investment management and private banking services."
     F.N.B. will integrate two of Citizens Community Bank's Naples area offices
 with its local affiliate, First National Bank of Naples.  The bank's main
 location on Marco Island will continue to operate as Citizen Community Bank
 with Storm serving as President and Chief Executive Officer.  A fourth
 Citizens Community Bank branch in Naples will be combined with an existing
 First National Bank branch located less than a mile away on Harbour Drive.
 The company expects to complete this conversion by the end of May.
     "Customers of both banks will benefit from the increase in the number of
 banking locations and the expansion of trust and other financial services,"
 said Garrett S. Richter, President and Chief Executive Officer of First
 National Bank of Naples.  "We look forward to welcoming customers of Citizens
 Community Bank into our family."
     With the completion of this merger, F.N.B. is now the second-largest
 financial institution in the Naples/Collier County area with 11 offices and
 more than $725 million in deposits.
     "This affiliation is consistent with our steady growth pattern and
 provides F.N.B. with the opportunity to significantly boost market share in
 one of the nation's fastest-growing metropolitan areas," said Gary L. Tice,
 President and Chief Executive Officer of F.N.B.
     According to the 2000 U.S. Census, the Naples/Collier County area posted
 the nation's second-fastest population growth during the last decade.
 Furthermore, the local median household income of $65,000 leads the state and
 ranks among the highest in the nation.
     F.N.B. Corporation is a $4.2 billion diversified financial services
 company headquartered in Naples, Florida.  The company currently owns and
 operates traditional community banks, insurance agencies, a consumer finance
 subsidiary and First National Trust Company with a total of 157 offices in
 Florida, Pennsylvania, Ohio and Tennessee.
 
     The preceding release contains certain "forward-looking statements"
 regarding F.N.B. Corporation and Citizens Community Bancorp Inc.  All forward-
 looking statements involve risk and uncertainty and actual results could
 differ materially from the anticipated results or other expectations expressed
 in the forward-looking statements.  A discussion of factors that could cause
 actual results to differ materially from those expressed in the forward-
 looking statements is included in each of F.N.B.'s and Citizens Community
 Bancorp's recent filings with the U.S. Securities and Exchange Commission.
 
     Copies of this news release are available over the Internet at
 www.fnbcorporation.com or by contacting F.N.B. at 1-800-262-7600, extension
 1676.  Shares of the corporation's common stock are traded on The Nasdaq Stock
 Market under the symbol FBAN.
 
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 SOURCE  F.N.B. Corporation