FNB United plans at-the-market equity sale of 2 million common shares

Offering negotiated with Sandler O'Neill to finance corporate purposes

By Devika Patel

Knoxville, Tenn., May 22 - FNB United Corp. said it negotiated an at-the-market equity offering with Sandler O'Neill & Partners, LP. The offering will consist of up to 2 million common shares.

Proceeds will be used for general corporate purposes or contributions to the capital of CommunityOne Bank, NA and Bank of Granite.

Based in Asheboro, N.C., FNB is a bank holding company.

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