First National Bankshares of Florida Announces Shareholder Approval for Merger With Fifth Third Bancorp
23 November 2004 - 2:59PM
PR Newswire (US)
First National Bankshares of Florida Announces Shareholder Approval
for Merger With Fifth Third Bancorp NAPLES, Fla., Nov. 23
/PRNewswire-FirstCall/ -- First National Bankshares of Florida,
Inc. (NYSE:FLB) today announced that at a meeting held Monday,
November 22, 2004, shareholders of First National Bankshares
approved the proposed merger with Fifth Third Bancorp. (Logo:
http://www.newscom.com/cgi-bin/prnh/20031230/FNBFLOGO ) "We
received overwhelming support from our shareholders for this
transaction and we are pleased with their enthusiasm," said Gary L.
Tice, Chairman and Chief Executive Officer of First National
Bankshares. "We are proud to partner with an organization as
successful as Fifth Third. Our shareholders will become
shareholders of Fifth Third, which has an exceptional long-term
track record of delivering shareholder value." First National
Bankshares and Fifth Third announced their intention to merge on
August 2, 2004. The transaction is on schedule and is expected to
be complete in January 2005. Upon completion of the merger, Fifth
Third will have more than $6.6 billion in total assets and nearly
100 full-service banking centers located throughout the state of
Florida. Headquartered in Naples, Florida, First National
Bankshares of Florida, Inc. is a $5.5 billion diversified financial
services company. The company's focus is on expansion in the
high-growth Florida market. In addition to traditional community
banking, the company provides a complete line of wealth management
and insurance services. The company's stock is traded on the New
York Stock Exchange under the symbol "FLB." Fifth Third Bancorp,
headquartered in Cincinnati, Ohio, is a diversified financial
services company with $98.3 billion in total assets and 1,008
banking centers in Ohio, Kentucky, Indiana, Michigan, Illinois,
Florida, Tennessee and West Virginia. The company's stock is traded
through the Nasdaq National Market System under the symbol "FITB."
This document contains forward-looking statements with respect to
the plans, objectives, financial condition, results of operations
and businesses of First National Bankshares of Florida, Inc.; the
benefits and synergies of the planned affiliation with Fifth Third
Bancorp; and the expected date of closing of the acquisition,
including statements containing such words as "believes,"
"expects," "projects," "anticipates," and similar expressions. Such
statements involve risks and uncertainties. There are a number of
important factors that could cause future results to differ
materially from historical performance and these forward-looking
statements. Factors that might cause such a difference include, but
are not limited to: (1) competitive pressures among depository
institutions increase significantly; (2) changes in the interest
rate environment reduce interest rate margins; (3) general economic
conditions are less favorable than expected; (4) legislative or
regulatory changes adversely affect the businesses in which the
company is engaged; (5) costs, delays, and any other difficulties
related to the planned transaction; (6) failure of the parties to
satisfy conditions to the closing of the merger; (7) the ability to
manage and continue growth; and (8) other risk factors as detailed
in First National Bankshares' reports filed with the Securities and
Exchange Commission. First National Bankshares disclaims any
responsibility to update these forward-looking statements. 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 and Director
of Corporate Communications, First National Bankshares of Florida,
Inc., +1-239-436-1676 Web site:
http://www.firstnationalbankshares.com/
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