F.N.B. Corp. to boost pay
F.N.B. Corp. plans to raise the minimum hourly wage for its employees to $15 by the end of 2019, accelerating an ongoing initiative to elevate hourly wages, in response to the signing of the Tax Cuts and Jobs Act of 2017.
Paying competitive wages will continue to be a focus for the company in attracting and retaining the highest caliber employees to serve customers, which translates into strong financial performance and benefit to its shareholders. FNB will also provide a discretionary, one-time 401(k) contribution, totaling $1 million, to the vast majority of employees based upon analysis of compensation levels and eligibility.
The company has total assets of $31 billion and more than 400 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina and South Carolina.
Edward Jones coffee club set
John Barton, a local Edward Jones financial adviser, will host a coffee club at 9 a.m. Thursday at his office near the Meadows Intersection, 104 Hollidaysburg Plaza.
The coffee club is an informal gathering whereby Edward Jones financial advisers provide an update on the stock market and the economy in a relaxed environment.
For more information call 696-7316.
Northwest income down
Northwest Bancshares Inc. announced net income for the quarter ended Dec. 31, of $22.1 million, or 22 cents per share. This represents a decrease of $2.4 million, or 9.6 percent, compared with the same quarter last year when net income was $24.5 million, or 24 cents per share.
The annualized returns on average shareholders’ equity and average assets for the quarter ended Dec. 31 were 7.31 percent and 0.94 percent compared with 8.37 percent and 1.01 percent for the same quarter last year.
The company also announced that its board of directors declared a quarterly cash dividend of 17 cents per share payable on Feb. 15 to shareholders of record as of Feb. 1. This represents a 6.25 percent increase over the prior quarter and is the 93rd consecutive quarter in which the company has paid a cash dividend.
Northwest Bancshares is the holding company of Northwest Bank, which operates 162 full-service community banking offices and 10 free standing drive-thru facilities in Pennsylvania, New York, and Ohio.