First National Bank Announces Additional Products and Solutions to Address Homeownership and Financial Independence in Vulnerable Communities
Includes Closing Cost Assistance Program, Easy-To-Access Online Mortgage Portal, and No Overdraft Verification
PITTSBURGH, June 17, 2021 / PRNewswire / – First National Bank, the largest subsidiary of FNB Corporation (NYSE: FNB), recently enhanced its product offering with a series of solutions specifically designed to support financially vulnerable communities. The additions, which include a Closing Cost Assistance Program, an online mortgage portal, and a no-overdraft checking account, are designed to expand ETFs reach, improve access, and encourage homeownership and development. financial independence of historically underserved consumers across its entire footprint.
“Homeownership brings significant benefits, both for families and the communities in which they live,” said Vincent J. Delie, Jr., Chairman of the Board, President and CEO of FNB Corporation and First National Bank. “Our goal is to provide consumers with additional products and resources to overcome challenges, manage their finances more effectively, and accelerate their ability to buy a home.”
To overcome a common financial barrier to homeownership, FNB recently introduced help with closing costs in urban markets where he identified a significant need. FNB provides up to $ 2,500 towards closing costs for borrowers who have low or moderate income or who are buying a home in a low to moderate income (LMI) or predominantly minority community. Available through the Bank’s exclusive Home Ownership and Home Improvement and Renovation programs, which feature lower credit requirements and 100 percent financing, the Closing Cost Credit eliminates or reduces dramatically up-front costs to make home ownership more accessible for first-time buyers and families who may not otherwise be able to purchase a home.
FNB also strives to ensure that all of its clients have convenient access to information, products and services, regardless of their location. The Bank recently launched a fully digital home loan experience for customers who prefer digital self-service tools. Using a secure online portal, clients can now easily get pre-approved for ETF’s mortgage products, including its exclusive homeownership and affordable home improvement programs. When clients are ready to officially apply, they can upload and sign documents, track the progress of their application from submission to closing, and choose when they want to hire a loan officer for help, all of it. from their digital devices.
Because homeownership is deeply linked to financial well-being, FNB further strives to ensure that traditionally underserved clients have the knowledge and tools to better manage their banking operations and be able to buy a home. Using Help me decide, an interactive tool that connects clients with FNB solutions, individuals can view informative video content and ultimately sign up for an account that best suits their unique circumstances and needs, including that of FNB current account without overdraft, eStyle, which is specifically designed to allow clients to avoid overdraft fees entirely.1 Today, eStyle is the second most popular FNB account, reinforcing the value of giving customers the choice of products to suit their preferences.
In addition to new specialty products and services, FNB continues to support its IMT clients and vulnerable communities through measures such as:
A focus on financial education, with advice on the mortgage process and how to effectively prevent account overdrafts – available in branch, online in the E-boutique solution center and through the awareness of FNB employees.
Digital tools, such as a improved website and a leading mobile app with customizable alerts and debit card controls, all designed to add transparency, provide balance information, and promote positive account management habits.
Continuous optimization of its physical network to maximize its reach, in particular through the strategy expansion of the ATM network to add access to urban markets.
FNB’s enhanced solutions are part of the Bank’s broader community engagement. In 2020, the FNB announced a $ 250 million commit to promoting economic investments in underserved communities, building on the millions of dollars the Company has strategically invested in initiatives that drive job growth, create affordable housing opportunities and defend overall social and economic development. For more information on the many ways FNB strengthens the regions in which it operates, including through homeownership and affordable housing, see the 2021 Corporate Responsibility Report.
Help with closing costs is available in Pittsburgh, Pennsylvania, Johnstown, Pennsylvania, Harrisburg, Pennsylvania, Cleveland, Ohio, Youngstown, Ohio, Baltimore, Maryland, Raleigh, North Carolina, and Charlotte, North Carolina, with plans for other markets to consider in the future.
About FNB Corporation
FNB Corporation (NYSE: FNB), headquartered at Pittsburgh, Pennsylvania, is a diversified financial services company operating in seven states and the District of Colombia. ETF market coverage spans several major metropolitan areas, including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington DC; and Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High point) in North Carolina. The Company has total assets of over $ 38 billion and nearly 340 bank branches across Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, Caroline from the south, Washington DC and Virginia.
FNB offers a full range of commercial banking, personal banking and wealth management solutions through its network of subsidiaries led by its largest subsidiary, First National Bank of Pennsylvania, founded in 1864. Commercial banking solutions include business banking, small business banking, investment real estate finance, government banking, business credit, capital markets, and credit finance – lease. The Consumer Banking segment provides a full range of consumer banking products and services, including deposit products, mortgages, consumer loans, and a full range of mobile and online banking services. FNB’s wealth management services include asset management, private banking and insurance.
The common shares of FNB Corporation trade on the New York Stock Exchange under the symbol “FNB” and are included in the Standard & Poor’s MidCap 400 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Clients, shareholders and investors can learn more about this regional financial institution by visiting the FNB Corporation website at www.fnbcorporation.com.
1 FNB will decline or return trades when a client does not have sufficient funds available in their account to cover a trade but cannot prevent the account from being overdrawn. If the account is overdrawn, no overdraft fee will be charged to the customer. The client is responsible for all transactions that overdraw the account and return the account to a positive balance.
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SOURCE FNB Corporation