Terms of the deal were not disclosed except that FNB planned to buy all of the outstanding stock of Central Bank. FNB is headquartered in Naples, Fla., and owns First National Bank of Pennsylvania, which is based in Hermitage.

Created in 1975, Central Bank has more than $240 million in assets and $194 million in deposits through its Bank of Central Florida, a commercial bank with six offices in Orange and Seminole counties.

The deal is expected to be completed in 90 days and Bank of Central Florida will be merged into FNB's First National Bank of Florida affiliate. FNB said it expects to squeeze out $2 million in costs savings at Central Bank by streamlining operations and back-office functions.

Also, FNB said it expects the purchase to add to its earning per share in 2002 and expects it will add 2 percent to its earnings in 2003 and more than 3 percent in 2004.

FNB is the largest bank-holding company headquartered in Florida. When FNB's previously announced deal to buy Promistar Financial Corp. in Johnstown is completed in February, along with Bank of Central Florida, FNB will have more than $6.7 billion in assets, $5.4 billion in deposits and 172 offices.