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F.N.B. expects to gain customers, talent from MOEs in Southeast

F.N.B. Corp. has already begun to see the benefits of market disruption brought by a wave of mergers of equals in its Southeast footprint during 2019.

On the bank's 2019 fourth-quarter earnings conference call, management discussed the opportunities to gain customers and talent from two large MOEs in the region: the merger between BB&T and SunTrust Banks Inc., now Charlotte, N.C.-based Truist Financial Corp.; and the announced tie-up of Memphis, Tenn.-based First Horizon National Corp. and Lafayette, La.-based IBERIABANK Corp.

The MOEs created a "change in attitude" in customers who previously were not open to discussing a new banking relationship, CEO Vincent Delie said on the call.

Customers who are concerned about the size of the combined organizations and the future of their credit relationships have turned to F.N.B., chief credit officer Gary Guerrieri said on the call.

"We have seen over last, let's say, nine to 12 months, new business opportunities that we've already put on the books. We do expect to see more," he said.

F.N.B is in a "period of uncertainty" about the potential amount of attrition since neither MOE is fully integrated, Delie said. "I don't think, with those two mergers, we are at a point yet where the customers are feeling pain," he said.

For now, the MOEs have created a "positive" opportunity for F.N.B. to have discussions with uncertain customers, Delie said.

When it comes to employee attrition, F.N.B. has always done "a pretty good job" on gaining talent from larger institutions, he said. The MOEs have only provided more of those opportunities in the Southeast.

"We're going to exploit our position in those markets. There's a lot of disruption all around us," Delie said. "I think we have significant opportunities to grow organically."