In addition, it adds Omega's 64 branches to locally based F.N.B.'s current total of 154 locations. [F.N.B. is unrelated to the Christiansburg, VA-based FNB Corp.] During a Nov. 9 conference call, Stephen Gurgovits, president and CEO, said, "the addition of Omega's franchise moves us into several attractive areas in the central part of Pennsylvania in which we currently have no presence and fills in our existing network.

"The Omega retail branches fit nicely in between the Pittsburgh and Harrisburg regions of our existing footprint," he added. He does not anticipate closing any Omega units. F.N.B. expects to achieve approximately 30% cost savings of Omega's cash non-interest expense by reducing administrative and operational redundancies.

Under the agreement, Omega shareholders are entitled to slightly more than two shares of F.N.B. common stock for each Omega share. Both companies' boards of directors have approved the agreement. It is subject to shareholders' and regulatory approvals and it is expected to close early in the second quarter of 2008.