George H. Groves Retires from First National Bank
August 03, 2007
George H. Groves Retires from First National Bank Business Leader Founded The Legacy Bank
Harrisburg, PA - August 3, 2007 - First National Bank of Pennsylvania today announced the retirement of George H. Groves as Chairman of the First National Bank Capital Region and member of the Board of Directors of First National Bank. Mr. Groves was formerly Chairman and Chief Executive Officer of the former The Legacy Bank, which he founded in 1999. The Legacy Bank was acquired by First National Banks parent company, F.N.B. Corporation (NYSE: FNB) in 2006. He will remain a member of the First National Bank Capital Region Community Board.
The successful founding of The Legacy Bank and its subsequent sale to F.N.B. Corporation has been a highlight of my career, said Groves. I leave the bank in excellent hands, and am proud that it continues to be an important resource for the business community it was designed to serve.
Although we will miss Georges day-to-day involvement in the operations at First National Bank, we are pleased that we will continue to have access to his wise counsel through his membership on the Capital Region Community Board, said Gary Roberts, President and Chief Executive Officer of First National Bank.
Mr. Groves conceived, planned, organized, and led the formation and start up of The Legacy Bank of Harrisburg, a business focused bank that was the first denovo bank in the Capital Region in twelve years. Opening with one office in September of 1999, by 2006 the bank operated eight offices in five counties and had approximately $375 million in assets and a Trust Company subsidiary with an additional $160 million in assets under management.
George Groves created a customer-focused bank that was an excellent fit for F.N.B., noted Stephen Gurgovits, President and Chief Executive Officer of F.N.B. Corporation. His leadership contributed to a smooth transition, which allowed First National Bank to expand its footprint into this important region of Pennsylvania.
Mr. Groves has been a widely known business leader in Central Pennsylvania since 1985 when he moved to Williamsport as Chief Operating Officer, and later President and Chief Executive Officer of Northern Central Bank, a $750 million affiliate of the former Keystone Financial, Inc., Harrisburg. After three years, during which he resolved Northerns financial problems and returned the bank to its former position of respect in the community, he was promoted to Executive Vice President of Keystone and later to Senior Executive Vice President and Chief Banking Officer. At Keystone he presided over the corporations growth in assets from $2 billion to $7 billion.
Mr. Groves earned a Bachelor of Science in Engineering from the United States Military Academy at West Point. After discharge from the Army, where he attained the rank of Captain, he completed his graduate studies at the University of Virginias Darden Graduate School of Business, earning a Masters of Business Administration.
He began his banking career in Chicago as a commercial lending officer for FNB Chicago and LaSalle National Bank. He was a Senior Vice President with Irwin Union Bank & Irwin Union Corporation in Columbus, Indiana prior to joining Nutech, Inc., a $60 million electric power consulting firm, as Chief Financial Officer. Mr. Groves left Nutech to co-found a business consulting firm, Derr & Groves, that specialized in business acquisitions.
He has served on the Board of Directors and Executive Committee of the Pennsylvania Bankers Association. He is a past chairman of the Board of Directors of the Williamsport Area Community College, and of the Harrisburg Symphony, and served on the Boards of the Mount Gretna Theater and the Dauphin County Library. He is currently a member of the Advisory Council for the Pennsylvania State University Harrisburg School of Business.
About First National Bank of Pennsylvania
First National Bank of Pennsylvania, the largest subsidiary of F.N.B. Corporation (NYSE: FNB), has over 150 full-service locations in Pennsylvania and Ohio, and loan production offices in Florida and Tennessee.
About F.N.B. Corporation:
F.N.B. Corporation, headquartered in Hermitage, PA is a diversified financial services company with total assets of $6.1 billion at June 30, 2007. F.N.B. is a leading provider of commercial and retail banking, wealth management, insurance and consumer finance services in Pennsylvania and Ohio, where it owns and operates First National Bank of Pennsylvania, First National Trust Company, First National Investment Services Company, LLC, F.N.B. Investment Advisors, Inc., First National Insurance Agency, LLC, F.N.B. Capital Corporation, LLC, and Regency Finance Company. It also operates consumer finance offices in Tennessee and loan production offices in Tennessee and Florida.
Mergent Inc., a leading provider of business and financial information about publicly traded companies, has recognized F.N.B. Corporation as a Dividend Achiever. This annual recognition is based on the Corporations outstanding record of increased dividend performance. The Corporation has consistently increased dividend payments for 34 consecutive years.
The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol FNB. Investor information is available on F.N.B.s website at http://www.fnbcorporation.com.
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