PITTSBURGH, May 23, 2017 /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB), parent company of First National Bank, today unveiled plans to occupy a new 22-story headquarters building serving the Company's Raleigh, North Carolina Region as the anchor tenant. The new office and residential high-rise will be located at 501 Fayetteville Street, fronting City Plaza, and will be named FNB Tower.
FNB Tower will add more than 150,000 square feet of Class A office space, nearly 240 residential apartment units and street-level retail space in Raleigh's thriving downtown area. FNB will occupy more than 40,000 square feet of office space with additional options to expand to accommodate future growth. The building will house regional leadership as well as Commercial Banking, Retail and Mortgage Banking, Wealth Management, Private Banking, Insurance and a variety of other departments. Serving as a cross-functional hub, FNB Tower will bring client-facing teams together under the direction of experienced local leadership, aligning to a model FNB has successfully deployed throughout its multi-state footprint.
Additionally, FNB plans to open a state-of-the-art retail banking office on the ground floor of the building. One of FNB's growing network of concept branches, the location will utilize a modern, open design and innovative banking technology to provide a more consultative and engaging customer experience.
"We are proud of the significant statement and commitment that FNB Tower makes to our clients, employees and communities we serve in Raleigh and across the state of North Carolina," said Vincent J. Delie, Jr., President and Chief Executive Officer of F.N.B. Corporation and First National Bank. "Our ability to work collaboratively across business lines in centralized locations such as this new regional headquarters building is essential to our success and the success of our clients."
FNB Tower will be developed by Dominion Realty Partners, LLC (DRP), a leading North Carolina-based real estate organization, to accommodate FNB. With this project, DRP is striving to achieve their second U.S. Green Building Council LEED (Leadership in Energy and Environmental Design) Platinum certified building in Raleigh; the neighboring Charter Square office building was the first development by DRP to achieve LEED Platinum certification in Wake County for its core and shell in 2016. According to Alex B. (Andy) Andrews, President and Chief Executive Officer of DRP, "FNB Tower will be an ideal combination of style, innovation and efficiency, designed entirely for the benefit of downtown Raleigh." FNB will also provide financing for the project.
Mayor Nancy McFarlane added, "In addition to serving as a new highlight of our skyline, FNB Tower will create space and jobs that contribute to the ongoing revitalization that has made Raleigh one of the fastest growing cities in the U.S. We value FNB's obvious commitment to our region and look forward to working together in a shared effort to help Raleigh and our surrounding communities thrive."
The groundbreaking for FNB Tower will take place this December with delivery anticipated by the summer of 2019. CBRE Raleigh will handle the commercial leasing of the office and retail space still available and DRP will manage the property once complete. First National Bank was advised in this transaction by Gregg Broujos and Kathy Gigac of Colliers International and David Thor of JLL. Renderings of FNB Tower are available below and at http://www.drp-llc.com/development4.html. Additional details regarding the groundbreaking and grand opening milestones will be announced when available.
FNB recently entered the North Carolina and South Carolina markets through the completion of its merger with Yadkin Financial Corporation in early 2017 and currently maintains a top 10 deposit share in the Raleigh MSA.
About First National Bank of Pennsylvania
First National Bank of Pennsylvania, the largest subsidiary of F.N.B. Corporation (NYSE: FNB), has more than 400 full-service locations in Pennsylvania, Ohio, Maryland, West Virginia, North Carolina and South Carolina. In addition to a comprehensive suite of traditional banking products and services, the Bank also provides a full range of online and mobile banking solutions for consumer and business clients. First National Bank has been recognized repeatedly as a best place to work in Pittsburgh, Pennsylvania, its headquarters city.
About F.N.B. Corporation
F.N.B. Corporation (NYSE: FNB), headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in eight states. FNB holds a significant retail deposit market share in attractive metropolitan markets including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; and Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina. The Company has total assets of $30 billion, and more than 400 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina and South Carolina.
FNB provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network which is led by its largest affiliate, First National Bank of Pennsylvania, founded in 1864. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, international banking, business credit, capital markets and lease financing. The consumer banking segment provides a full line of consumer banking products and services, including deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. FNB's wealth management services include asset management, private banking and insurance. The Company also operates Regency Finance Company, which has more than 75 consumer finance offices in Pennsylvania, Ohio, Kentucky and Tennessee. The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol "FNB" and is included in Standard & Poor's MidCap 400 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Customers, shareholders and investors can learn more about this regional financial institution by visiting the F.N.B. Corporation website at www.fnbcorporation.com.
About Dominion Realty Partners
Dominion Realty Partners (DRP) is a full-service real estate organization providing development, management, leasing, acquisition and investment services. Collectively the DRP team of professionals brings more than five decades of real estate experience in handling quality, environmentally-friendly commercial and residential transactions in the Southeastern and mid-Atlantic United States. Having completed over $2 billion in real estate transactions, 3.6M square feet in office projects and over 3,500 residential units, the DRP team has the capabilities and experience to structure complex financial arrangements and partnerships: each tailored to meet the specific needs of the partnership and development objective. In the past twenty-four months, DRP has developed and acquired over $400 million in the mid-Atlantic and Southeast. For more information please visit www.drp-llc.com.
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SOURCE F.N.B. Corporation