First National Bankshares Of Florida Completes Spin-Off From F.N.B. Corporation; Shares Of New Company Commence Regular Way Trad
02 Januar 2004 - 4:00PM
PR Newswire (US)
First National Bankshares Of Florida Completes Spin-Off From F.N.B.
Corporation; Shares Of New Company Commence Regular Way Trading On
New York Stock Exchange Today NAPLES, Fla., Jan. 2
/PRNewswire-FirstCall/ -- First National Bankshares of Florida,
Inc. , the former Florida operations of F.N.B. Corporation ,
announced completion of its spin-off from F.N.B. and the
commencement of regular way trading of its common shares on the New
York Stock Exchange starting today. The completion of the spin-off
marks the official debut of First National Bankshares as a publicly
traded company. (Logo:
http://www.newscom.com/cgi-bin/prnh/20031230/FNBFLOGO ) "We are
extremely pleased to make our successful debut as a publicly traded
financial services provider," said Gary L. Tice, Chairman and Chief
Executive Officer of First National Bankshares of Florida. "Our
mission will be to expand in the Florida market, which we believe
is one of the most attractive banking markets in the entire
country. We look forward to a rewarding future with our customers,
employees and shareholders." Headquartered in Naples, Florida,
First National Bankshares of Florida has approximately $3.8 billion
in total assets and 59 full-service financial centers located
throughout Southwest and Central Florida. In addition to
traditional community banking, the company provides a full line of
insurance, investments and wealth management services. The company
will focus on expanding in the high-growth Florida market and will
be well-positioned for success in one of the country's most
attractive areas. Reflecting this focus on growth, the company's
dividend payout ratio is expected to be around 25% to 30%. First
National Bankshares of Florida will be led by Gary L. Tice, as
Chairman and Chief Executive Officer. Tice, formerly the President
and CEO of F.N.B. Corporation, has been involved in Florida banking
since 1977 and has organized several successful community banks in
this market. Kevin Hale will serve as President and Chief Operating
Officer and Robert Reichert has been appointed as Chief Financial
Officer and Treasurer. Other members of the company's senior
leadership team include Garrett Richter, President and Chief
Executive Officer of the banking subsidiary First National Bank of
Florida; Rick Bouchard, Chief Executive Officer of Roger Bouchard
Insurance Inc.; and Michael Morris, President and CEO of First
National Wealth Management Company. Additional copies of this news
release may be requested by contacting the First National
Bankshares Corporate Communications Department at 1-800-262-7600,
extension 1676. Except for historical information contained herein,
the statements made 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 statements involve certain risks and uncertainties, including
statements regarding each company's strategic direction, prospects
and future results. Certain factors, including those outside either
company's control, may cause actual results to differ materially
from those in the forward-looking statements, including economic
and other conditions in the markets in which the companies operate;
risks associated with acquisitions, competition, seasonality and
the other risks discussed in our recent filings with the Securities
and Exchange Commission, which discussions are incorporated in this
release by reference. CONTACT: Clay W. Cone Vice President,
Director of Corporate Communications 239-436-1676
http://www.newscom.com/cgi-bin/prnh/20031230/FNBFLOGO
http://photoarchive.ap.org/ DATASOURCE: First National Bankshares
Of Florida, Inc. CONTACT: Clay W. Cone, Vice President, Director of
Corporate Communications, First National Bankshares Of Florida,
+1-239-436-1676 Web site: http://www.firstnationalbankshares.com/
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