8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Sections 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported) April 22, 2010

FNB United Corp.

(Exact Name of Registrant as Specified in its Charter)

North Carolina	0-13823	56-1456589
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

150 South Fayetteville Street, Asheboro, North Carolina	27203
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s Telephone Number, Including Area Code (336) 626-8300

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) and (c) On April 23, 2010, FNB United Corp. announced the retirement effective April 22, 2010 of Michael C. Miller, president and chief executive officer of FNB United Corp. and its bank subsidiary, CommunityONE Bank, National Association. Mr. Miller also resigned from the boards of directors of FNB United and CommunityONE Bank effective April 22, 2010.

Also effective April 22, 2010, R. Larry Campbell was appointed by the boards of directors of FNB United Corp. and CommunityONE Bank to succeed Mr. Miller as president and chief executive officer on an interim basis while a search for a replacement is undertaken.

Mr. Campbell, age 65, has been executive vice president and chief operating officer and a director of FNB United Corp. and CommunityONE Bank since April 2000. Effective April 22, 2010, Mr. Campbell’s annual base salary was increased from $180,000 to $240,000 in recognition of his new role and responsibilities.

A press release dated April 23, 2010, announcing the retirement of Mr. Miller and the appointment of Mr. Campbell as interim president and chief executive officer is attached as Exhibit 99.1 to this report and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

Exhibits:

99.1 Press release dated April 23, 2010 announcing the retirement of Mr. Miller as president and chief executive officer and a director of FNB United Corp. and CommunityONE Bank, N.A., and the appointment of Mr. Campbell as interim president and chief executive officer of FNB United Corp. and CommunityONE Bank, N.A.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	FNB UNITED CORP.
Date: April 23, 2010	By	/s/ Mark A. Severson
		Mark A. Severson
		Executive Vice President

EX-99.1

Exhibit 99.1

For Immediate Release	For More Information
April 23, 2010	Interim President/CEO R. Larry Campbell: 336-626-8320 Chairman James M. Campbell: 336-498-2786

Miller Retires From FNB United Corp.

Asheboro, NC – FNB United Corp., the holding company for CommunityONE Bank, National Association, announced today that Michael C. Miller has retired effective Thursday, April 22, 2010. Mr. Miller served as President and Chief Executive Officer and Director of both the holding company and the bank from 1991 until the present. James Campbell, Chairman of the Board, offered thanks and appreciation to Mr. Miller for his 25 years of service to the Company.

The Board of Directors has appointed R. Larry Campbell, Executive Vice President and Chief Operating Officer of FNB United and CommunityONE Bank, to serve as the interim President and Chief Executive Officer. A committee has been appointed to begin the search for a replacement.

Commenting on the changes, he observed, “We believe the Company is in good hands with Larry Campbell. He has ably served the Company for the past 10 years and we have every confidence in his ability to lead us forward during these difficult economic times.”

FNB United Corp. is the Asheboro, North Carolina-based bank holding company for CommunityONE Bank, N.A., and the bank’s subsidiary, Dover Mortgage Company. Opened in 1907, CommunityONE Bank (MyYesBank.com) operates 45 offices in 38 communities throughout central, southern and western North Carolina. Through these subsidiaries, FNB United offers a complete line of consumer, mortgage and business banking services, including loan, deposit, cash management, wealth management and internet banking services.

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This news release may contain forward-looking statements regarding future events. Forward-looking statements often address our expected future business and financial performance, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” or “will.” These statements are only predictions and are subject to risks and uncertainties that could cause the actual events or results to differ materially. These risks and uncertainties include risks of managing our growth, changes in financial markets, changes in real estate markets, regulatory changes, changes in interest rates, changes in economic conditions being less favorable than anticipated, and loss of deposits and loan demand to other financial institutions. Additional information concerning factors that could cause actual results to be materially different from those in the forward-looking statements is contained in FNB United’s filings with the Securities and Exchange Commission. FNB United does not assume any obligation to update these forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.