As previously reported, Naples, Fla.-based FNB said 76 of Promistar's banking offices throughout southwestern Pennsylvania will be folded into its First National Bank of Pennsylvania affiliate, headquartered in Hermitage. Six of Promistar's offices are expected to close.

As a result of the deal, FNB now has $6.5 million in assets with $5.2 billion in deposits, 166 offices and a market capitalization of more than $1.1 billion.

First National will rank as the eighth-largest bank in Pennsylvania and FNB said it will be the largest community bank operating in the western part of the state, with more than $3.1 billion in deposits and 117 offices in 19 counties.

"With our acquisition of Promistar, we will nearly triple the number of First National Bank of Pennsylvania offices, adding a potential customer base of 1.4 million households to which we can market our diversified financial services including insurance, investment and wealth management,'' said Gary L. Tice, president and chief executive officer of FNB.

"This merger combines two companies with similar cultures and heritages and represents a natural market extension of FNB in western Pennsylvania.''

Steve Gurgovits, president and chief executive officer of First National, said he expects the conversion to be completed by the end of the first quarter.

"FNB has proven its ability to assimilate acquisitions successfully, and we are working aggressively to ensure a seamless integration for our customers and our employees,'' Gurgovits said.

Terms of the deal call for 0.926 shares of FNB common stock to be exchanged for each share of Promistar common stock. Three Promistar board members will be appointed to FNB's board.

FNB is a diversified financial services company which, in addition to First National, owns community banks, insurance agencies, a consumer finance company and First National Trust Co. In addition to Pennsylvania, FNB has offices in Ohio, Florida and Tennessee.