FNB United Corp. Announces Launch of at-the-Market Equity Offering

FNB United FNBN N.A. and Bank of Granite, announced today that it has filed a prospectus supplement under which it may from time to time sell up to two million shares of its common stock pursuant to an at-the-market equity offering program. The shares will be offered through Sandler O'Neill & Partners, L.P. as sales agent. Sales, if any, would be made in transactions that are deemed to be at-the-market offerings, including sales made directly on the NASDAQ Capital Market or sales made to or through a market maker other than on an exchange or by privately negotiated transactions. The Company intends to use the proceeds from any sales for general corporate purposes of the Company or contributions to the capital of the Banks.