F.N.B. Announces De Novo Expansion in Southeast & Mid-Atlantic Markets

F.N.B. Corp.’s FNB main subsidiary, First National Bank, unveiled its plan to add about 30 new branches to its existing network over the next five years. These new branches will accelerate the company’s ongoing expansion in North Carolina, South Carolina and the Bank's Mid-Atlantic Region, including Maryland, Virginia and Washington, D.C.

Rationale Behind FNB’s Expansion Move

This move builds on F.N.B. Corp’s successful expansion strategy in South Carolina, where it has heavily invested in Greenville and Charleston. It has already opened five branches and approximately 160 branded automated teller machines (ATMs) and downtown regional hubs that offer services in Commercial Banking, Commercial Real Estate, Small Business, Wealth Management and Mortgage. Further, the company has solidified its presence by recruiting experienced local bankers, a strategy that has helped it grow total deposits by more than double since entering the Palmetto State.

With the addition of these new branches, FNB will operate about 380 branch locations and more than 1,600 ATMs, including more than 110 branches and 500 ATMs across the Carolinas. The upcoming offices will incorporate the company’s modern-concept design and advanced banking technology used throughout its multistate footprint. Customers will also get ATMs with video chat capabilities and access to the eStore to explore products. They can schedule appointments with bankers and access financial education resources.

Vincent J. Delie, Jr., chairman, president, and CEO of F.N.B. Corp and First National Bank, stated, “FNB's expansion into dynamic, high-growth markets in the Mid-Atlantic and Southeast has yielded performance that demonstrates the effectiveness of our business model as well as our commitment to client service. We have built out our unique in-store experience, which allows clients to complete applications both in the branch and online, resulting in the omnichannel experience we have pursued through our Clicks-to-Bricks strategy and making us one of the most convenient banks for consumers and businesses in the industry today.”

This move aligns with the company’s expansion strategy to boost its revenues and loans. Recently, it acquired Raptor Partners LLC to enhance its capital markets capabilities.

FNB’s Zacks Rank & Price Performance

Shares of F.N.B. Corp have risen 17.3% in the past six months compared with the industry’s 12% growth.

FNB currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Similar Steps by Other Banks

Last month, Truist Financial TFC announced a multi-year growth plan, blending traditional branch expansion with cutting-edge digital banking. The strategy underscores the company’s aim to capture growth opportunities in dynamic U.S. markets, while enhancing its digital capabilities.

Over the next five years, Truist Financial plans to open 100 new branches and renovate more than 300 existing locations in high-growth opportunity cities, including Atlanta, Austin, Charlotte, Dallas, Miami, Orlando, Philadelphia and Washington, DC.
 
Similarly, Fifth Third Bancorp FITB expands its retail banking footprint across the Southeast by launching its first financial center in Alabama.

The Alabama entry marks a significant milestone in Fifth Third’s multi-year growth strategy, which accelerated in late 2024 with plans to open 200 new retail branches by 2028. The bank’s Southeast expansion aims to rebalance its branch location mix, with approximately 50% of its locations expected to be in the region by the end of the rollout.

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