F.N.B. Corporation (NYSE: FNB) and its wholly owned broker dealer subsidiary announced that it has entered into a definitive agreement to acquire Raptor Partners LLC (Raptor), an independent investment banking firm focused on delivering financial advisory services to public and private companies.
Raptor, a Pittsburgh-based company, is comprised of a team of experienced professionals with an emphasis in mergers and acquisitions, corporate finance, valuation advisory, and private capital raising. Upon closing, Raptor will contribute to FNB’s ongoing strategy to grow and diversify non-interest income with significant capital markets capabilities.
“FNB has continually invested in its Capital Markets capabilities, which positions us as a trusted advisor for our clients and has driven a 137% increase in revenue over the past decade. The addition of investment banking rounds out our offerings, enabling FNB to provide clients with advisory services throughout their entire business life cycle,” said F.N.B. Corporation Chairman, President and Chief Executive Officer, Vincent J. Delie, Jr. “We believe this is an opportune time to invest in FNB’s investment banking platform to advise our middle market and large corporate clients given the scale of our company and the changing economic outlook.”
“We are excited to join with FNB to offer financial advisory services to new and existing clients,” said Raptor Partners LLC Founder and President, Craig Wolfanger. “Raptor Partners has completed hundreds of transactions with an aggregate value of nearly $40 billion across a variety of industries, bringing a wealth of knowledge, expertise, and experience to FNB.”
Upon closing of the acquisition, Wolfanger will join FNB as Managing Director and Head of Investment Banking. The transaction is expected to close in the second quarter of 2025, subject to the satisfaction of customary closing conditions.
