First National Bank (FNB), part of Pittsburgh-based F.N.B. Corporation, is aiming to deepen its footprint in and around Charlotte with plans to open nearly 30 new branches over the next five years. The rollout targets growth in North Carolina, the Carolinas more broadly, and the Mid-Atlantic region, including Maryland, Virginia, and Washington, D.C. F.N.B. operates in seven states plus D.C., with nearly $50 billion in assets and roughly 350 branches and over 1,600 ATMs.
FNB’s “clicks-to-bricks” strategy — allowing customers to begin banking online and complete transactions at physical branches — pairs with that legacy, giving it a chance to compete in Charlotte’s competitive banking landscape.
“FNB’s expansion into dynamic, high-growth markets in the Mid-Atlantic and Southeast has yielded performance that demonstrates the effectiveness of our business model as well as our commitment to client service,” said Vincent J. Delie, Jr., Chairman, President and Chief Executive Officer of F.N.B. Corporation and First National Bank in a press release.
Established giants like Bank of America, Truist, and Wells Fargo already have dense branch networks and strong legacy brands. FNB will need to match or exceed service, technology, or convenience to change market share.
Charlotte’s position as a banking capital has deep roots. In 1874, Commercial National Bank (a forerunner of what would become Bank of America) opened here, followed by Union National Bank in 1908 (later part of Wachovia, now under Wells Fargo). North Carolina’s liberal laws on bank branching throughout the 19th and 20th centuries helped these institutions expand widely and build the infrastructure that made Charlotte the nation’s second-largest financial hub.
FNB’s new expansion could bring more banking access to Charlotte suburbs and underserved neighborhoods, possibly putting pressure on incumbents to modernize.
In spite of the plans, an increasing digital banking culture, along with higher costs of opening branches, hiring staff, and regulatory compliance will present real hurdles.
