A Pennsylvania bank that’s looking to move into the Charleston market plans to open its first location at a prominent corner on the peninsula.
F.N.B. Corp., the parent company of First National Bank, is seeking permission from regulators to establish a branch at Meeting and Calhoun streets, across from Marion Square.
It would be the first of four planned offices the Pittsburgh-based lender is aiming to open in the local area under a previously announced plan to expand its retail, commercial and wealth management businesses in South Carolina. The other locations have not been announced.
The branch at 317 Meeting St. was disclosed by the bank in a filing with the federal Office of the Comptroller of the Currency. It's expected to open later this year or in early 2019.
First National announced plans in June to open three branches and a “regional hub” in downtown Charleston for its retail, commercial and wealth management banking businesses. The bank has said it also plans to establish a network of standalone traditional and interactive automated teller machines throughout the area.
"We think Charleston is a great market and offers significant potential," chairman and CEO Vincent Delie Jr. said in a written statement this week. "Our intention is to continue to grow in the region and that requires us to be there and to support the community with a physical presence.”
First National operates more than 400 branches in Pennsylvania, Ohio, Maryland, West Virginia and the Carolinas. It oversees more than $32 billion in loans and other assets. It is not affiliated with Holly Hill-based First National Bank of South Carolina.
In the Palmetto State, the Steel City lender’s brick-and-mortar footprint is limited to three retail offices in Blacksburg, Gaffney and Tega Cay. First National picked up those offices when it acquired Winston-Salem-based Yadkin Bank about 18 months ago.
The Charleston expansion will be led by Greg Heaton, its president of the bank's Charlotte region.
The building at 317 Meeting was built in 1977 and was occupied for years by First Citizens Bank, which sold it for $3.5 million in 2015 and shut the branch the following year.
Gramling Brothers Real Estate & Development, which owns the property, had submitted plans with the city to raze the vacant one-story bank and a replace it with an 80-foot-tall mixed-use structure. A spokesman said the Charleston-based company is prohibited from discussing the property by a confidentiality agreement.