FLB First Natl Bancshares Fla

First National Bankshares of Florida Completes the Sale of Its Roger Bouchard Insurance, Inc. Subsidiary NAPLES, Fla., Dec. 31 /PRNewswire-FirstCall/ -- First National Bankshares of Florida, Inc. (NYSE:FLB) today announced that it has completed the sale of Roger Bouchard Insurance, Inc. to a group of investors led by the agency's principals. Terms of the sale were not disclosed. (Logo: http://www.newscom.com/cgi-bin/prnh/20031230/FNBFLOGO ) Founded in 1948, Bouchard Insurance is a full-service insurance agency offering all lines of commercial and personal insurance, including property and casualty, homeowners, automobile, health, life, workers' compensation and employee benefits. The agency has full-service offices in Clearwater, Sarasota, Fort Myers, Kissimmee and Celebration. "Our company was one of the first financial institutions to offer insurance services after passage of the Financial Modernization Act of 1999, and we have benefited from this diversification," said Kevin C. Hale, President and Chief Operating Officer of First National Bankshares. "However, with our pending merger with Fifth Third Bancorp, the opportunity arose to sell the insurance agency back to the principals. This will enable us to focus on our core business with the benefit for Fifth Third's enhanced product set." As a stand-alone company, Bouchard Insurance will rank as one of the state's largest independent insurance agencies with more than $30 million in revenue. The agency will continue to be led by the current management team of Rick Bouchard, Tim Bouchard, Ray Bouchard, Earl Horton and Sam Lupfer. No changes are anticipated in staffing and current customers will continue to be served by their local insurance offices and agents. "We have had a tremendous relationship with First National since our affiliation in 1999, enabling us to significantly expand our Florida franchise and grow our revenue," said Rick Bouchard, Chief Executive Officer of Roger Bouchard Insurance. "We wish them the very best as a part of the Fifth Third organization. We are particularly excited to have the opportunity to once again serve our customers as an independent insurance agency." Headquartered in Naples, Florida, First National Bankshares of Florida, Inc. is a $5.6 billion diversified financial services company. The company's focus is on expansion in the high-growth Florida market. In addition to traditional community banking, the company provides a complete line of wealth management and insurance services. The company's stock is traded on the New York Stock Exchange under the symbol "FLB." On August 2, 2004, First National Bankshares of Florida and Fifth Third Bancorp announced the signing of a definitive agreement in which Fifth Third will acquire First National Bankshares and its subsidiaries. The acquisition is expected to close in the first quarter of 2005 and is subject to normal regulatory approvals. Upon completion of this transaction, Fifth Third will have approximately $6.6 billion in assets and more than 90 banking centers located throughout the state of Florida. Headquartered in Cincinnati, Ohio, Fifth Third is a diversified financial services company with approximately $98.3 billion in total assets and 1,015 banking centers in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Missouri and Pennsylvania. The company's stock is traded through the Nasdaq National Market System under the symbol "FITB." This document contains forward-looking statements with respect to the plans, objectives, financial condition, results of operations and businesses of First National Bankshares of Florida, Inc.; the benefits and synergies of the planned affiliation with Fifth Third Bancorp; and the expected date of closing of the sale of Roger Bouchard Insurance, Inc. and the acquisition of First National Bankshares by Fifth Third, including statements containing such words as "believes," "expects," "projects," "anticipates," and similar expressions. Such statements involve risks and uncertainties. There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference include, but are not limited to: (1) competitive pressures among depository institutions increase significantly; (2) changes in the interest rate environment reduce interest rate margins; (3) general economic conditions are less favorable than expected; (4) legislative or regulatory changes adversely affect the businesses in which the company is engaged; (5) costs, delays, and any other difficulties related to the planned transaction; (6) failure of the parties to satisfy conditions to the closing of the merger; (7) the ability to manage and continue growth; and (8) other risk factors as detailed in First National Bankshares' reports filed with the Securities and Exchange Commission. First National Bankshares disclaims any responsibility to update these forward- looking statements. CONTACT: Clay W. Cone Vice President, Director of Corporate Communications 239-436-1676 http://www.newscom.com/cgi-bin/prnh/20031230/FNBFLOGO http://photoarchive.ap.org/ DATASOURCE: First National Bankshares of Florida, Inc. CONTACT: Clay W. Cone, Vice President, Director of Corporate Communications of First National Bankshares of Florida, Inc., +1-239-436-1676 Web site: http://www.firstnationalbankshares.com/

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