SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED
Date of Report: November 15, 2000
F.N.B. CORPORATION
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(Exact name of registrant as specified in its charter)
Pennsylvania 0-8144 25-1255406
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(State of Incorporation) (Commission (IRS Employer
File Number) Identification No.)
One F.N.B. Blvd., Hermitage, Pennsylvania 16148
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(Address of principal executive offices) (Zip code)
(724) 981-6000
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(Registrant's telephone number, including area code)
INFORMATION TO BE INCLUDED IN THE REPORT
<PAGE>
ITEM 5. OTHER EVENTS
On October 24, 2000, F.N.B. Corporation announced the planned retirement of
Peter Mortensen, Chief Executive Officer, and the election of his successor,
Gary L. Tice, effective December 31, 2000. A copy of the Press Release is
attached.
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934 the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
F.N.B. CORPORATION
(Registrant)
By: /s/John D. Waters
______________________________
Name: John D. Waters
Title: Vice President and
Chief Financial Officer
Dated: November 15, 2000
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F.N.B. CORPORATION
(Nasdaq: FBAN)
HERMITAGE, PA 16148
www.fnbcorporation.com
FOR IMMEDIATE RELEASE
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DATE: October 24, 2000
CONTACT: Clay W. Cone
Vice President - Corporate Affairs
941-436-1676
F.N.B. ELECTS NEW CHIEF EXECUTIVE OFFICER
HERMITAGE, Pa., and NAPLES, Fla., Oct. 24 - F.N.B. Corporation (NASDAQ: FBAN)
today announced the planned retirement of Peter Mortensen as Chief Executive
Officer and the election of Gary L. Tice as his successor, effective December
31, 2000.
Mortensen, who has held the executive position for the past 26 years, will
continue to provide leadership to the company as Chairman of the Board.
"My retirement has been planned for some time so the transition will be a
seamless one," Mortensen said. "One of the true strengths of F.N.B. Corporation
is that we have people prepared to assume postions of increased responsibility.
Gary is the ideal selection for the CEO office."
As a founding director of the company since 1974, Mortensen, who will turn 65
in December, has successfully guided F.N.B. Corporation through a period of
unprecedented growth.
Under Mortensen's direction, the company has expanded from its base in
Pennsylvania and Ohio to the rapidly growing Southwest Florida market. The
company also became one of the nation's first to achieve federal status as a
diversified financial services company reflecting its move into the insurance,
consumer finance and investment trust businesses.
During his 45-year banking career, Mortensen has served as a director of the
American Bankers Association and as President of the Pennsylvania Bankers
Association.
"In anticipation of this transition, we have assembled an extremely talented
and dedicated senior management team," Mortensen said. "Gary has been involved
in the day-to-day operation of F.N.B. Corporation for nearly four years and he
is well qualified to lead the company forward."
Tice, 53, currently serves as President and Chief Operating Officer. In his
additional capacity as Chief Executive Officer, he will work closely with
Stephen J. Gurgovits, who will continue to be President and Chief Executive
Officer of First National Bank of Pennsylvania and Vice Chairman of the
corporation.
<PAGE>
"Under Pete's stewardship, F.N.B. Corporation has built a successful franchise
as a diversified financial services provider," Tice said. "We look forward to
continuing to build on this solid foundation of excellence and pursuing further
opportunities for growth in our key markets."
A graduate of Youngstown State University, Tice began his banking career in 1973
with First National Bank of Pennsylvania, where he worked with Mortensen and
Gurgovits.
In 1977, Tice relocated to Southwest Florida, joining Citizens National Bank of
Naples. In 1988, he organized Southwest Banks, Inc. and First National Bank of
Naples, serving as Chairman, President and Chief Executive Officer. Tice then
established an affiliate community bank, Cape Coral National Bank in Cape Coral,
Florida. Both banks eventually merged into F.N.B. Corporation. Tice has
continued to serve as Chairman of First National Bank of Naples.
F.N.B. Corporation is a $3.9 billion diversified financial services company with
executive offices in Hermitage, Pennsylvania and Naples, Florida. It operates
eight affiliate community banks, five insurance agencies, and a consumer
finance subsidiary and national trust company through 151 offices in five
states. The company has increased cash dividends for 27 consecutive years and
has been recognized as a Moody's Dividend Achiever.
# # # # #
Except for historical information contained herein, the statements in this
release constitute forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. Such forward-looking statements involve certain risks and uncertainties,
including statements regarding the intent, belief or current expectations of
F.N.B. Corporation and its management regarding the company's strategic
directions, prospects and future results. The Company cautions readers that any
such forward-looking statements are based on assumptions that the Company
believes are reasonable, but are subject to a wide range of risks, and there is
no assurance that actual results may not differ materially.
Copies of this release are available over the Internet at www.fnbcorporation.com
or by calling 888-981-6000, extension 3430. Shares of the corporation's common
stock are traded on the Nasdaq Stock Market under the symbol FBAN.
