www.fnbcorporation.com F.N.B. CORPORATION
(Nasdaq: FBAN)
NAPLES, FL 34102

FOR IMMEDIATE RELEASE

DATE:	January 16, 2003
CONTACT:	Clay W. Cone Vice President-Corporate Affairs 239-436-1676

F.N.B. CORPORATION REPORTS RECORD FOURTH QUARTER
AND YEAR-END 2002 FINANCIAL PERFORMANCE

NAPLES, FL, January 16 — F.N.B. Corporation (Nasdaq: FBAN), a diversified financial services company, today reported net income for the fourth quarter of 2002 of $24.1 million, compared to $5.5 million in the fourth quarter of 2001. Net income per diluted share was $0.54, compared to $0.12 per diluted share in the fourth quarter of 2001.

Earnings excluding merger related and other nonrecurring charges for the fourth quarter of 2002, were $24.5 million, or $0.55 per diluted share. This compares to the $5.5 million, or $0.12 per diluted share, in earnings reported in the fourth quarter of 2001.

For the full year 2002, the company reported net income of $63.3 million, compared to the $53.0 million reported in 2001. Net income per diluted share was $1.41, compared to $1.23 per diluted share in 2001. Full-year 2002 and 2001 earnings were reduced by $0.70 and $0.18 per share, respectively, due to merger related and other nonrecurring charges.

Earnings excluding merger related and nonrecurring charges for the full year 2002 totaled $94.4 million, or $2.11 per diluted share. This compares to the $60.9 million, or $1.41 per diluted share, in earnings reported a year earlier.

“These results show that we are successfully executing our strategic plan,” said Gary L. Tice, President and Chief Executive Officer of F.N.B. Corporation. “The merger with Promistar Financial Corporation significantly enhanced our retail banking franchise, creating new opportunities for selling our trust, investment and insurance products. At the same time, we continued to focus on improving efficiency through consolidation of our

banking charters in Florida, Pennsylvania and Ohio under the First National Bank brand.”

F.N.B.’s fourth quarter 2002 results excluding merger related and other nonrecurring charges represent a return on average assets of 1.39% and return on average equity of 16.4%. The company’s fourth quarter operating revenue, consisting of net interest income on a taxable equivalent basis and non-interest income, was $106.6 million, an increase of up 12% over the same period a year ago. On a full year basis, these results represented a return on average assets of 1.39% and return on average equity of 16.3%. Operating revenue was $407.7 million (FTE), representing a 14% increase over the prior year.

“We are pleased by the company’s consistently solid financial results given the difficult operating environment,” Tice said. “The company performed well by all measures during the quarter. Loan production remained strong, especially in the Florida market. We also continued to enjoy a solid net interest margin, with credit quality that remains ahead of our peers. We also furthered our efforts to increase non-interest income opportunities.”

Credit quality remained strong and continued to compare favorably to industry peers. As of December 31, 2002, the allowance for loan losses, which totaled $68.4 million, represented 1.31% of total loans and 243% of non-performing loans. Non-performing assets improved to 0.46% of total assets from 0.48% as of December 31, 2001.

Net charge-offs for the fourth quarter were 0.42% of average loans, versus 1.15% in the fourth quarter of 2001. The prior year results were significantly influenced by the level of net charge-offs and related provisions taken primarily at Promistar Financial Corporation prior to its acquisition by F.N.B. Corporation. During the fourth quarter of 2001, the provision for loan losses totaled $19.2 million and net charge-offs totaled $13.5 million, compared to $5.6 million and $5.5 million, respectively, in the fourth quarter of 2002.

Net interest income on a tax-equivalent basis was $73.8 million for the fourth quarter of 2002, compared to $68.6 million for the same period a year ago, an increase of 8%. For the year ended December 31, 2002, net interest income on a tax-equivalent basis was $286.8 million, up 12% over $256.6 million the prior year. The net interest margin for the year ended December 31, 2002, was 4.70%, compared to 4.44% a year earlier.

Non-interest income for the fourth quarter of 2002 was $32.8 million, up 23% over the same period a year ago. The quarter included a gain of $1.8 million on the exchange of a portfolio investment resulting from a business combination. This increase in non-interest

income enabled the company to take the opportunity to retire certain high-cost, long-term debt. For the full year 2002, non-interest income totaled $120.9 million, up 21% over the prior year. This increase resulted from acquisitions, increased banking services, favorable mortgage origination and sales activity, and increased commissions on security sales.

Non-interest expense, excluding merger related and other nonrecurring charges, for the fourth quarter of 2002 was $64.5 million, compared to $67.4 million in the fourth quarter of 2001. In connection with the previously mentioned gain, the company elected to retire $15.0 million of 6.26% Federal Home Loan Bank debt, incurring an early retirement penalty of $1.6 million during the quarter. For the full year 2002, non-interest expense, excluding merger related and other nonrecurring charges, totaled $246.3 million, up 7% from $230.8 million a year ago. The increase in operational expenses reflects F.N.B.’s continued expansion into new banking markets, wealth management and insurance.

Excluding merger related and other nonrecurring charges, the efficiency ratio for the year ended December 31, 2002, was 59.6%, improved from 63.4% a year ago. Excluding the company’s insurance operations, the efficiency ratio was 58.2%, versus 62.2% a year ago.

Book value per common share increased from $12.98 per share as of December 31, 2001, to $13.61 per share as of December 31, 2002. Outstanding common shares increased to 43.9 million shares. Cash dividends per common share increased from $0.71 during the year ended December 31, 2001, to $0.85 during the year ended December 31, 2002.

During the fourth quarter of 2002, F.N.B. successfully completed the rebranding of its community banking offices in Ohio under the First National Bank name and logo. This rebranding campaign follows the consolidation of the former Metropolitan National Bank with and into First National Bank, creating a community banking franchise with 130 full-service financial centers throughout northeastern Ohio and western Pennsylvania. The company incurred $510,000 of special charges related to this charter consolidation.

“We are extremely pleased with the successful combination of our Ohio and Pennsylvania offices under the First National Bank brand. This will enable us to realize marketing synergies throughout the region,” Tice said. “The bank is depicted in each local market by F.N.B.’s red, white and blue logo. We are confident that this effort will build greater customer awareness of our organization and the diverse financial products we offer.”

Also during the quarter, F.N.B. completed the acquisition of Harry Blackwood Inc., an independent insurance agency located in Chippewa Township, Pennsylvania. Founded in

1939, the Blackwood agency offers a complete line of personal and commercial insurance as well as employee benefits. The agency’s annual gross revenues were $1 million. It will operate as a division of F.N.B.’s existing insurance affiliate, Bouchard Insurance Inc.

“This was an outstanding year for F.N.B. Corporation, one in which our company yielded the highest operating earnings in its history,” Tice said. “We are equally optimistic about the opportunities that lay ahead in 2003, but we remain mindful of the many challenges associated with continued economic softness and an uncertain rate environment.”

F.N.B. Corporation is a $7.1 billion diversified financial services company headquartered in Naples, Florida. The company currently owns and operates community banks, insurance agencies, a consumer finance company and First National Trust Company. F.N.B. has offices located in Florida, Pennsylvania, Ohio and Tennessee. The company’s common stock is traded on The Nasdaq Stock Market under the symbol “FBAN.”

F.N.B. has been honored as a Dividend Achiever by Mergent Inc., a leading provider of business and financial information on publicly traded companies. This annual recognition is based on the corporation’s consistently outstanding record of increased dividend performance. The company has increased dividend payments for 30 consecutive years.

F.N.B. also has been recognized in the 2003 edition of America’s Finest Companies by the Staton Institute Inc. The annual investment directory identifies U.S.-based companies with at least 10 consecutive years of higher dividends or earnings per share. Fewer than 2% of the nation’s 19,000 publicly traded companies qualified for listing in the directory.

# # # # #

F.N.B. Corporation will host a conference call to discuss the fourth quarter and year-end financial results on January 17, 2003, at 11 a.m. Eastern Time. This conference call will be available by dialing 1-800-346-7359, with the entry code #1160. For those unable to listen to the live call, a replay will be made available from 1 p.m. on January 17, 2003, until 8 p.m. on January 24, 2003, by dialing 1-800-332-6854, with the entry code #1160.

This document contains “forward-looking statements” relating to present or future trends or factors affecting the banking industry and specifically the financial operations, markets and products of F.N.B. Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause future results to differ materially from historical performance or those projected. These include, but are not limited to: (1) competitive pressures among depository institutions increase significantly; (2) changes in the interest rate environment reduce interest margins; (3) prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions are less favorable than expected; (5) legislative or regulatory changes adversely affect the businesses in which F.N.B. is engaged; (6) changes in the securities markets. F.N.B. undertakes no obligation to release revisions to these forward-looking statements or to reflect events or circumstances after the date of this release.

F.N.B. CORPORATION

(Unaudited)
(Dollars in thousands, except per share data)
			2002												2001
			Fourth			Third			Second			First			Fourth			Third			Second
Statement of earnings			Quarter			Quarter			Quarter			Quarter			Quarter			Quarter			Quarter
Interest income — taxable equivalent basis			$	108,278		$	109,036		$	107,688		$	107,507		$	112,049		$	114,191		$	114,642
Interest income			$	106,884		$	107,596		$	106,261		$	106,043		$	110,391		$	112,549		$	113,012
Interest expense				34,476			35,592			37,065			38,538			43,431			49,160			52,071
	Net interest income			72,408			72,004			69,196			67,505			66,960			63,389			60,941
Provision for loan losses				5,566			4,835			4,502			4,191			19,205			4,097			3,452
	Net interest income after provision			66,842			67,169			64,694			63,314			47,755			59,292			57,489
Service charges				12,478			12,178			11,663			10,622			8,862			9,860			9,081
Insurance commissions and fees				8,289			7,949			8,448			9,472			8,216			7,694			7,511
Securities commissions and fees				1,195			1,736			2,303			1,383			1,069			1,118			970
Trust income				2,272			2,323			2,342			2,397			1,944			2,396			2,453
Gain on sale of securities				275			1,001			465			175			70			90			559
Other				8,270			4,900			4,842			3,895			6,442			4,057			4,116
	Total non-interest income			32,779			30,087			30,063			27,944			26,603			25,215			24,690
Salaries and employee benefits				34,881			34,181			33,011			33,142			33,681			29,540			28,779
Occupancy and equipment				10,565			10,132			9,410			9,405			9,798			9,027			8,735
Amortization of intangibles				396			953			932			837			1,400			1,176			1,099
Merger related and other non-recurring expenses				510			0			0			42,655			58			1,174			3,274
Other				18,642			16,973			16,628			16,191			22,472			15,161			15,472
	Total non-interest expense			64,994			62,239			59,981			102,230			67,409			56,078			57,359
Income before income taxes				34,627			35,017			34,776			(10,972	)		6,949			28,429			24,820
Income taxes				10,489			10,886			10,827			(2,089	)		1,484			9,039			7,921
		Net (loss) income	$	24,138		$	24,131		$	23,949			($8,883	)	$	5,465		$	19,390		$	16,899
	Earnings excluding merger and other non-recurring expenses		$	24,469		$	24,131		$	23,949		$	21,849		$	5,503		$	20,243		$	19,130
Average basic shares outstanding				43,742,911			43,804,464			43,957,743			43,771,337			43,435,723			42,599,903			41,348,780
Average diluted shares outstanding				44,595,242			44,758,758			45,100,672			44,808,130			44,462,028			43,718,970			42,435,575
Earnings per common share
Basic earnings per share				0.55			0.55			0.54			(0.20	)		0.12			0.45			0.41
Diluted earnings per share				0.54			0.54			0.53			(0.20	)		0.12			0.44			0.40
Earnings excluding merger and other non- recurring expenses per common share
Basic earnings per share				0.56			0.55			0.54			0.50			0.12			0.47			0.46
Diluted earnings per share				0.55			0.54			0.53			0.49			0.12			0.46			0.45
Cash dividend per common share				0.22			0.22			0.22			0.19			0.19			0.19			0.17
Book value per common share
Tangible book value per common share
Performance ratios (earnings excluding merger and other non-recurring expenses)
Return on average shareholders’ equity				16.40	%		16.55	%		17.13	%		15.30	%		4.10	%		15.49	%		15.14	%
Return on average assets				1.39	%		1.40	%		1.43	%		1.34	%		0.35	%		1.29	%		1.25	%
Net interest margin (FTE)				4.67	%		4.76	%		4.70	%		4.68	%		4.73	%		4.52	%		4.42	%
Yield on earning assets (FTE)				6.85	%		7.06	%		7.16	%		7.29	%		7.73	%		7.94	%		8.10	%
Efficiency ratio (FTE)				60.13	%		59.20	%		58.65	%		60.61	%		69.26	%		59.54	%		60.72	%

[Additional columns below]

[Continued from above table, first column(s) repeated]

(Unaudited)
(Dollars in thousands, except per share data)								For the Year
			2001			4th Qtr		Ended December 31,
						2002 - 2001
			First			Percent								Percent
Statement of earnings			Quarter			Variance		2002			2001			Variance
Interest income — taxable equivalent basis			$	115,994			-3.4	$	432,509		$	456,876			-5.3
Interest income			$	114,414			-3.2	$	426,784		$	450,366			-5.2
Interest expense				55,638			-20.6		145,671			200,300			-27.3
	Net interest income			58,776			8.1		281,113			250,066			12.4
Provision for loan losses				4,441			-71.0		19,094			31,195			-38.8
	Net interest income after provision			54,335			40.0		262,019			218,871			19.7
Service charges				8,283			40.8		46,941			36,086			30.1
Insurance commissions and fees				8,089			0.9		34,158			31,510			8.4
Securities commissions and fees				486			11.8		6,617			3,643			81.6
Trust income				2,284			16.9		9,334			9,077			2.8
Gain on sale of securities				1,109			292.9		1,916			1,828			4.8
Other				3,236			28.4		21,907			17,851			22.7
	Total non-interest income			23,487			23.2		120,873			99,995			20.9
Salaries and employee benefits				29,066			3.6		135,215			121,066			11.7
Occupancy and equipment				8,855			7.8		39,512			36,415			8.5
Amortization of intangibles				1,110			-71.7		3,118			4,785			-34.8
Merger related and other non-recurring expenses				7,531					43,165			12,037
Other				15,439			-17.0		68,434			68,544			-0.2
	Total non-interest expense			62,001			-3.6		289,444			242,847			19.2
Income before income taxes				15,821			398.3		93,448			76,019			22.9
Income taxes				4,590			606.8		30,113			23,034			30.7
		Net (loss) income	$	11,231			341.7	$	63,335		$	52,985			19.5
	Earnings excluding merger and other non-recurring expenses		$	16,029			344.6	$	94,398		$	60,905			55.0
Average basic shares outstanding				41,304,177			0.7		43,821,817			42,180,735			3.9
Average diluted shares outstanding				42,206,361			0.3		44,832,176			43,224,281			3.7
Earnings per common share
Basic earnings per share				0.27			358.3		1.44			1.25			15.2
Diluted earnings per share				0.27			350.0		1.41			1.23			15.4
Earnings excluding merger and other non- recurring expenses per common share
Basic earnings per share				0.39			366.7		2.15			1.44			49.3
Diluted earnings per share				0.38			358.3		2.11			1.41			49.6
Cash dividend per common share				0.16			15.8		0.85			0.71			19.7
Book value per common share									13.61			12.98			4.9
Tangible book value per common share									11.10			11.91			-6.8
Performance ratios (earnings excluding merger and other non-recurring expenses)
Return on average shareholders’ equity				12.96	%				16.34	%		11.27	%
Return on average assets				1.06	%				1.39	%		0.97	%
Net interest margin (FTE)				4.32	%				4.70	%		4.44	%
Yield on earning assets (FTE)				8.31	%				7.09	%		7.91	%
Efficiency ratio (FTE)				63.64	%				59.64	%		63.39	%

F.N.B. CORPORATION

(Unaudited)
(Dollars in thousands)		2002												2001
		Fourth			Third			Second			First			Fourth			Third			Second
Average balances		Quarter			Quarter			Quarter			Quarter			Quarter			Quarter			Quarter
Total assets		$	6,983,409		$	6,814,530		$	6,725,939		$	6,622,785		$	6,264,388		$	6,207,172		$	6,162,381
Earning assets			6,271,320			6,123,991			6,031,545			5,980,336			5,751,177			5,708,028			5,674,683
Securities			994,783			945,839			926,718			934,283			955,810			939,889			922,467
Loans, net of unearned			5,221,184			5,143,131			4,982,294			4,889,134			4,653,513			4,618,712			4,605,797
Allowance for loan losses			69,614			69,562			68,030			66,804			57,809			57,764			57,785
Intangibles			107,478			104,352			106,607			89,097			50,691			48,803			47,886
Non-interest bearing deposits			910,269			878,131			883,338			839,563			734,484			721,979			707,331
Interest bearing deposits			4,481,532			4,441,940			4,438,455			4,368,108			4,231,655			4,221,598			4,226,431
	Total deposits		5,391,801			5,320,071			5,321,793			5,207,671			4,966,139			4,943,576			4,933,762
Short-term borrowings			421,096			408,184			397,176			403,050			349,357			330,261			325,946
Long-term debt			466,917			393,832			337,371			342,220			319,999			320,243			304,145
Shareholders’ equity			591,775			578,300			560,815			578,987			532,720			518,322			506,709
Asset quality data
Non-accrual loans		$	22,294		$	23,119		$	20,982		$	22,357		$	21,350		$	25,013		$	21,211
Restructured loans			5,915			5,188			6,168			6,248			5,578			4,696			4,197
Non-performing loans			28,209			28,307			27,150			28,605			26,928			29,709			25,408
Other real estate owned			4,729			5,236			5,192			4,803			4,375			5,651			7,553
Non-performing assets		$	32,938		$	33,543		$	32,342		$	33,408		$	31,303		$	35,360		$	32,961
Net loan charge-offs		$	5,524		$	4,270		$	2,984		$	4,358		$	13,484		$	5,109		$	4,422
Allowance for loan losses			68,406			68,365			67,799			66,281			65,059			59,338			56,950
Non-performing loans / total loans			0.54	%		0.54	%		0.53	%		0.58	%		0.56	%		0.62	%		0.55	%
Non-performing assets / total assets			0.46	%		0.48	%		0.48	%		0.50	%		0.48	%		0.55	%		0.53	%
Allowance for loan losses / total loans			1.31	%		1.31	%		1.33	%		1.35	%		1.35	%		1.23	%		1.24	%
Allowance for loan losses / average loans			1.31	%		1.33	%		1.36	%		1.36	%		1.40	%		1.28	%		1.24	%
Allowance for loan losses / non-performing loans			242.50	%		241.51	%		249.72	%		231.71	%		241.60	%		199.73	%		224.14	%
Net loan charge-offs (annualized) / average loans			0.42	%		0.33	%		0.24	%		0.36	%		1.15	%		0.44	%		0.39	%
Balances at period end
Total assets		$	7,088,473		$	6,981,396			6,749,232			6,731,230			6,488,383			6,466,921			6,210,298
Earning assets			6,331,534			6,224,091			6,031,096			6,045,782			5,862,068			5,887,003			5,677,245
Securities			1,075,183			1,004,839			910,745			926,572			954,338			1,004,259			1,001,089
Mortgage loans held for sale			28,807			8,009			2,860			2,873			1,323			4,815			4,773
Loans, net of unearned			5,214,785			5,201,140			5,093,416			4,915,438			4,814,435			4,806,819			4,588,761
Non-interest bearing deposits		$	924,090		$	899,962			906,065			901,175			798,960			774,683			754,626
Interest bearing deposits			4,502,067			4,449,347			4,424,259			4,416,589			4,300,116			4,285,691			4,160,201
	Total deposits		5,426,157			5,349,309			5,330,324			5,317,764			5,099,076			5,060,374			4,914,827
Short-term borrowings			514,691			476,526			407,157			421,925			375,754			386,440			351,878
Long-term debt			450,648			466,108			332,675			342,581			342,424			344,140			328,395
Shareholders’ equity			599,840			583,650			570,934			548,945			572,407			582,077			521,440

[Additional columns below]

[Continued from above table, first column(s) repeated]

(Unaudited)							For the Year
(Dollars in thousands)		2001			4th Qtr		Ended December 31,
					2002 - 2001
		First			Percent								Percent
Average balances		Quarter			Variance		2002			2001			Variance
Total assets		$	6,144,704			11.5	$	6,787,722		$	6,294,654			7.8
Earning assets			5,661,271			9.0		6,102,646			5,774,393			5.7
Securities			916,932			4.1		950,559			959,844			-1.0
Loans, net of unearned			4,604,814			12.2		5,060,067			4,676,382			8.2
Allowance for loan losses			57,865			20.4		68,513			57,795			18.5
Intangibles			48,560			112.0		102,238			52,586			94.4
Non-interest bearing deposits			698,375			23.9		878,020			741,298			18.4
Interest bearing deposits			4,232,039			5.9		4,432,845			4,240,937			4.5
	Total deposits		4,930,414			8.6		5,310,865			4,982,235			6.6
Short-term borrowings			325,662			20.5		407,407			364,420			11.8
Long-term debt			297,303			45.9		385,451			310,498			24.1
Shareholders’ equity			501,711			11.1		577,573			540,196			6.9
Asset quality data
Non-accrual loans		$	20,752			4.4	$	22,294		$	21,350			4.4
Restructured loans			3,342			6.0		5,915			5,578			6.0
Non-performing loans			24,094			4.8		28,209			26,928			4.8
Other real estate owned			6,514			-7.9		4,729			4,375			-7.9
Non-performing assets		$	30,608			3.0	$	32,938		$	31,303			3.0
Net loan charge-offs		$	3,645			-59.0	$	17,136		$	26,660			-35.7
Allowance for loan losses			57,920			5.1		68,406			65,059			5.1
Non-performing loans / total loans			0.52	%				0.54	%		0.56	%
Non-performing assets / total assets			0.49	%				0.45	%		0.48	%
Allowance for loan losses / total loans			1.26	%				1.31	%		1.35	%
Allowance for loan losses / average loans			1.26	%				1.35	%		1.39	%
Allowance for loan losses / non-performing loans			240.39	%				242.50	%		241.60	%
Net loan charge-offs (annualized) / average loans			0.32	%				0.34	%		0.57	%
Balances at period end
Total assets			6,252,535			9.2		7,088,473			6,488,383			9.2
Earning assets			5,721,775			8.0		6,331,534			5,862,068			8.0
Securities			889,421			12.7		1,075,183			954,338			12.7
Mortgage loans held for sale			7,106			2077.4		28,807			1,323			2077.4
Loans, net of unearned			4,595,777			8.3		5,214,785			4,814,435			8.3
Non-interest bearing deposits			739,578			15.7		924,090			798,960			15.7
Interest bearing deposits			4,282,191			4.7		4,502,067			4,300,116			4.7
	Total deposits		5,021,769			6.4		5,426,157			5,099,076			6.4
Short-term borrowings			359,934			37.0		514,691			375,754			37.0
Long-term debt			264,317			31.6		450,648			342,424			31.6
Shareholders’ equity			512,805			4.8		599,840			572,407			4.8