Acquisition of Bank of Granite Corporation (Tables)

12 Months Ended

Dec. 31, 2012

Acquisition Of Bank Of Granite Corporation [Abstract]

Fair values of assets and liabilities assumed by the Company

The following table summarizes the fair values of assets and liabilities of Granite Corp. assumed by FNB.

(dollars in thousands)	October 21,2011 (after all fair value adjustments)
Assets acquired:
Cash and cash equivalents	$	99,126
Investment securities	186,361
Loans, net	393,653
Premises and equipment, net	9,778
Other real estate owned	18,136
Bank-owned life insurance	4,432
Core deposit intangible	4,900
Other assets	7,766
Total assets acquired	$	724,152
Liabilities assumed:
Deposits	$	719,443
Other	3,990
Total liabilities assumed	$	723,433
Equity:
Total shareholders’ equity	$	—
Total liabilities assumed and shareholders’ equity	$	723,433
Contributed capital	$	4,924
Total liabilities assumed and contributed capital	$	728,357
Goodwill (excess of liabilities assumed and contributed capital over assets acquired)	$	4,205

Business acquisition, pro forma results of operations

The following table presents our unaudited pro forma results of operations for the periods presented as if the Merger had been completed on January 1, 2010. The unaudited pro forma results of operations include the historical accounts of FNB and Granite Corp. and pro forma adjustments as may be required, including the amortization of intangibles with definite lives and the amortization or accretion of any premiums or discounts arising from fair value adjustments for assets acquired and liabilities assumed. The unaudited pro forma information is intended for informational purposes only and is not necessarily indicative of our future operating results or operating results that would have occurred had the Merger been completed on January 1, 2010. No assumptions have been applied to the pro forma results of operations regarding possible revenue enhancements, expense efficiencies or asset dispositions.

(dollars in thousands, except per share data)	Revenue		Earnings (Loss)
Actual results for BOGC from 10/21/11 - 12/31/11	$	7,868	$	2,988
Supplemental pro forma from 1/1/11 - 12/31/11	133,312		(123,343		)
Supplemental pro forma from 1/1/10 - 12/31/10	180,090		(135,605		)