F.N.B. Launches $50 Million Initiative to Revitalize Rural Business Districts and Historic Neighborhoods
- F.N.B. Corporation launches a $50 million Main Street Revitalization Program to strengthen rural business districts.
- The initiative includes grants and loans for small businesses, enhancing visibility and access to funding.
- F.N.B. plans to invest $15 million in restoring historic branches, starting with the original Greenville location.
F.N.B. Corporation Unveils $50 Million Main Street Revitalization Initiative
F.N.B. Corporation announces the launch of its FNB Main Street Revitalization Program, a transformative initiative aimed at bolstering rural business districts and restoring historic neighborhoods. With nearly $50 million allocated, the program is set to enhance facades, stimulate commerce, and foster economic growth in underfunded communities. Central to this initiative are three components: a small business grant program, a low-interest loan program, and substantial investments aimed at restoring historic FNB branches.
The small business grant program, backed by a $1 million donation to the Pittsburgh History & Landmark Foundation (PHLF), focuses on providing financial assistance for facade improvements. This effort is designed to empower local businesses to enhance their visibility and attractiveness, thereby drawing in more customers and revitalizing the local economy. Additionally, the low-interest loan program is expected to facilitate over $30 million in financing for small businesses, further ensuring access to capital in areas that often struggle to secure necessary funding.
The revitalization efforts will also include approximately $15 million dedicated to the rehabilitation of several historic FNB branches, with the Greenville, PA branch being the first to undergo renovation. This branch holds significant historical value, as it is the original location of First National Bank of Pennsylvania, established in 1864. The renovation aims to leverage the town's historical elements to attract visitors and businesses alike, ultimately enhancing the commercial district. Vincent J. Delie Jr., the Chairman, President, and CEO of F.N.B. Corporation, underscores the importance of investing in these communities, emphasizing that improving historic facades can boost local tourism and foster business growth.
In addition to its financial commitments, F.N.B. Corporation expresses a broader vision for community enhancement. By investing in both the preservation of historic structures and the support of local businesses, the bank aims not only to restore its own branches but also to breathe new life into surrounding areas. This strategic approach signifies a long-term commitment to community development and economic resilience, as FNB seeks to play an integral role in the revitalization of the regions it serves.
As F.N.B. Corporation embarks on this ambitious initiative, it sets a precedent for other financial institutions to follow suit in supporting rural and historic business districts, ultimately aiming to create lasting change and improve the quality of life for residents.