Compelo Banking is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

FNB and Omega Financial shareholders approve merger

Banking groups FNB Corporation and Omega Financial have jointly announced that their shareholders have approved the agreement and plan of merger between the companies.

At FNB’s special meeting, the holders of a majority of its shares voted in favor of the proposal to approve and adopt the agreement and plan of merger, dated on November 8, 2007, between FNB and Omega Financial pursuant to which Omega will merge with and into FNB and FNB will issue up to 26.6 million shares of FNB common stock.

At Omega’s special meeting, the holders of a majority of its shares voted in favor of the proposal to approve and adopt the agreement and plan of merger between FNB and Omega Financial, pursuant to which each outstanding share of Omega common stock will be converted into 2.022 shares of FNB common stock.

The merger has been approved by all regulatory authorities and the transaction is expected to close on April 1, 2008.