CONTACT:	Teresa Ciambotti, SVP, Director of Investor Relations (814) 231-6401
HEADLINE:	Omega Financial Corporation Fourth Quarter Earnings Up 7.3%

FOR IMMEDIATE RELEASE ¾ January 25, 2008 ¾

STATE COLLEGE, PA – Net income for Omega Financial Corporation (NASDAQ:OMEF) rose by 7.3% to $4.705 million, or $.37 per diluted share, in the fourth quarter of 2007 compared to $4.386 million, or $.35 per diluted share, during the same period in 2006. Net income for calendar year 2007, was $21.097 million, representing a 3.3% increase over 2006 earnings of $20.431 million.

Donita R. Koval, Omega’s president and chief executive officer, noted that both the fourth quarter and calendar year 2007 results reflected the Corporations ongoing efforts in managing the net interest margin, growing service revenues and wealth management income and controlling non-interest expenses.

Koval stated the company’s net interest margin for the fourth quarter of 2007 increased 7 basis points to 4.21% from the fourth quarter of 2006 of 4.14% on a fully tax-equivalent basis. The company’s Return on Average Assets increased 11.2%, to 1.06%, and Return on Average Equity increased 4.6% to 5.61%, when compared to the same period in 2006.

For the year, Omega’s net interest margin rose 12 basis points to 4.19% from 4.07% in 2006. The company’s Return on Average Assets was 1.17% and Return on Average Equity 6.36%, representing an increase of 8.8% and .7%, respectively.

The net interest margin grew despite decreases in net interest income of $.2 million for the quarter and $1.2 million for the year. Koval noted that 2006 net interest income included $1.0 million attributable to three branches sold in the final quarter of 2006.

In the fourth quarter of 2007, Omega reported a provision for loan losses of $.6 million compared to $2.8 million during the same period in 2006. The year to date provision for loan loss in 2007 totals $2.2 million compared to $3.9 million in 2006. The higher level of loan loss provision in 2006 related primarily to specific provisions recorded for two large commercial borrowers. In the fourth quarter of 2006, one of the borrower’s loans was sold, while in May 2007, the other borrower emerged from bankruptcy reorganization and as a result $4.4 million of this borrowers loans were charged off in the second quarter of 2007. As of December 31, 2007, total loans outstanding to this borrower totaled $14.9 million, with a specific allocation of the loan loss allowance totaling $1.8 million, which management deems to be adequate. This compares to total loans outstanding to this borrower of $16.8 million with a specific allocation of loan loss allowance of $5.3 million as of December 31, 2006. Although the borrower is current with all payments, these loans remain on non-accrual status until the new entity demonstrates consistent positive operating cash flow.

Other income for the fourth quarter of 2007, excluding gains on the sale of investment securities and other assets, increased $.2 million or 2.53% as compared to the same period last year. Year to date non-interest income, excluding gains on the sale of investments and other assets, increased $1.3 million or 4.95% to $27.411 million due primarily to increases in deposit and loan fees as well as growth in wealth management fees. The three branch locations sold in 2006 contributed $.2 million of non-interest income in 2006.

Other expense increased in the fourth quarter of 2007 by $.1 million or .81%, and decreased $1.5 million or 2.54% for the year of 2007. Included in other expense for both the fourth quarter and year of 2007 is $.8 million in expenses related to the announced merger with F.N.B. Corporation. These expenses were offset by decreases in other areas such as renegotiations on key operating contracts and restructuring of certain business lines, including the formation of a mortgage joint venture. The three branch locations sold in the fourth quarter of 2006 contributed $.7 million of non-interest expense in 2006.

In the fourth quarter of 2007, the Company signed a definitive merger agreement with F.N.B. Corporation (NYSE:FNB) pursuant to which F.N.B. Corporation will acquire Omega. The combination of the two organizations will create the fifth largest bank holding company based in Pennsylvania with approximately $8 billion in total assets and over 210 full service branches serving commercial and consumer customers in 35 counties in Pennsylvania and Northeast Ohio.

Quarterly and annual reports, a corporate profile, stock quotes and other financial data can be accessed through the Omega web site at www.omegafinancial.com. Financial statements and selected financial highlights are summarized on the following pages.

OMEGA FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED FINANCIAL HIGHLIGHTS
(Unaudited)
(In thousands, except as indicated * )
	Three Months Ended December 31,									Twelve Months Ended December 31,
	2007			2006			% Change			2007			2006			% Change
Earnings:
Net income	$	4,705		$	4,386			7.3	%	$	21,097		$	20,431			3.3	%
Per share statistics: *
Diluted earnings	$	.37		$	.35			5.7	%	$	1.67		$	1.62			3.1	%
Dividends declared — common		.31			.31			—			1.24			1.24			—
Book value — common		26.43			25.76			2.6			26.43			25.76			2.6
Book value — tangible		13.37			12.61			6.0			13.37			12.61			6.0
Market value — High		32.40			33.50			(3.3	)		34.49			34.21			0.8
Low		24.45			29.48			(17.1	)		20.97			27.88			(24.8	)
Financial position at period end:
Assets	$	1,789,100		$	1,815,818			(1.5	)%	$	1,789,100		$	1,815,818			(1.5	)%
Net loans		1,090,284			1,135,048			(3.9	)		1,090,284			1,135,048			(3.9	)
Deposits		1,280,869			1,325,763			(3.4	)		1,280,869			1,325,763			(3.4	)
Shareholders’ equity		334,749			325,211			2.9			334,749			325,211			2.9
Average Balances:
Assets	$	1,781,140		$	1,846,561			(3.5	)%	$	1,796,135		$	1,893,973			(5.2	)%
Net loans		1,095,940			1,147,555			(4.5	)		1,120,728			1,172,033			(4.4	)
Deposits		1,283,349			1,359,209			(5.6	)		1,299,668			1,397,648			(7.0	)
Shareholders’ equity		335,680			327,203			2.6			331,636			323,370			2.6
Non-Performing Loans at period end:
Non-accrual loans	$	21,510		$	21,001			2.4	%	$	21,510		$	21,001			2.4	%
Accruing loans past due 90 days or more		6,891			2,327			196.1			6,891			2,327			196.1
Profitability ratios — annualized: *
Return on average assets		1.06	%		0.95	%		11.2	%		1.17	%		1.08	%		8.8	%
Return on tangible assets		1.17			1.04			12.5			1.29			1.18			9.3
Return on average stated equity (1)		5.61			5.36			4.6			6.36			6.32			0.7
Return on average tangible equity (2)		11.07			10.91			1.5			12.72			13.22			(3.8	)
Net interest margin — fully tax equivalent		4.21			4.14			1.7			4.19			4.07			2.9
Shares outstanding at period end: *
Common		12,665,613			12,622,802			0.3	%		12,665,613			12,622,802			0.3	%
(1) Average stated equity is equal to average shareholders’ equity.
(2) Average tangible equity represents average shareholders’ equity less average intangibles and goodwill.

OMEGA FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
	(Unaudited)
	December 31,			December 31,
	2007			2006
Assets
Cash and due from banks		58,946			56,225
Interest bearing deposits with other banks		11,473			12,073
Federal funds sold		41,750			—
Trading securities		61			48
Investment securities available for sale		276,525			291,807
Other investments		12,116			12,087
Investment in unconsolidated subsidiary		1,625			1,625
Loans held for sale		414			531
Total portfolio loans		1,102,756			1,151,861
Less: Allowance for loan losses		(12,886	)		(17,344	)
Net portfolio loans		1,089,870			1,134,517
Premises and equipment, net		29,107			30,861
Other real estate owned		1,424			512
Bank-owned life insurance		75,783			76,341
Investment in limited partnerships		5,000			5,763
Core deposit intangibles		4,905			5,641
Other intangibles		975			1,085
Goodwill		159,567			159,387
Other assets		19,559			27,315
TOTAL ASSETS	$	1,789,100		$	1,815,818
Liabilities and Shareholders’ Equity
Deposits:
Non-interest bearing	$	235,948		$	232,335
Interest bearing		1,044,921			1,093,428
Total deposits		1,280,869			1,325,763
Short-term borrowings		78,449			65,712
ESOP debt		—			1,481
Junior subordinated debentures		55,695			56,193
Long-term debt		26,434			27,877
Other interest bearing liabilities		843			858
Other liabilities		12,061			12,723
TOTAL LIABILITIES		1,454,351			1,490,607
Shareholders’ Equity
Preferred stock, par value $5.00 per share:
Authorized - 5,000,000 shares, none issued
Common stock, par value $5.00 per share:
Authorized - 25,000,000 shares;
Issued -
12,900,229 shares at December 31, 2007
12,823,471 shares at December 31, 2006		64,517			64,133
Outstanding -
12,665,613 shares at December 31, 2007
12,622,802 shares at December 31, 2006
Capital surplus		104,750			103,149
Retained earnings		170,167			164,653
Accumulated other comprehensive income		2,453			313
Unearned compensation related to ESOP debt		—			(859	)
Cost of common stock in treasury:
234,616 shares at December 31, 2007;
200,669 shares at December 31, 2006		(7,138	)		(6,178	)
TOTAL SHAREHOLDERS’ EQUITY		334,749			325,211
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,789,100		$	1,815,818

OMEGA FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except share data)
(Unaudited)	Three Months Ended					Twelve Months Ended
	December 31,					December 31,
	2007		2006			2007		2006
Interest Income:
Interest and fees on loans	$	19,314	$	20,273		$	78,914	$	81,103
Interest and dividends on investment securities		3,426		3,294			13,686		12,518
Other interest income		606		308			1,378		1,166
TOTAL INTEREST INCOME.		23,346		23,875			93,978		94,787
Interest Expense:
Interest on deposits		6,612		6,838			26,593		25,966
Interest on short-term borrowings		517		589			2,536		2,731
Interest on long-term debt and other interest bearing liabilities		1,261		1,253			5,024		5,024
TOTAL INTEREST EXPENSE		8,390		8,680			34,153		33,721
NET INTEREST INCOME		14,956		15,195			59,825		61,066
Provision for loan losses		595		2,776			2,155		3,896
INCOME FROM CREDIT ACTIVITIES		14,361		12,419			57,670		57,170
Other Income:
Service fees on deposit accounts		2,719		2,584			10,410		10,130
Service fees on loans		392		365			1,499		1,635
Earnings on bank-owned life insurance		627		634			2,556		2,413
Trust fees		1,055		999			4,312		4,063
Investment and insurance product sales		629		732			2,868		2,942
Gain on sale of loans and other assets		34		2,147			39		2,380
Net gains (losses) on the sale of investment securities		141		(426	)		632		389
Other		1,388		1,328			5,766		4,934
TOTAL OTHER INCOME		6,985		8,363			28,082		28,886
Other Expense:
Salaries and employee benefits		7,335		7,209			28,667		29,398
Net occupancy expense		1,120		1,111			4,266		4,318
Equipment expense		1,069		1,189			4,554		4,571
Data processing service		573		641			2,389		2,642
Pennsylvania shares tax		776		727			3,009		2,765
Amortization of intangible assets		211		218			845		882
Merger Expense		765		—			765		—
Other		3,418		4,050			13,600		15,033
TOTAL OTHER EXPENSE		15,267		15,145			58,095		59,609
Income before income taxes and discontinued operations		6,079		5,637			27,657		26,447
Income tax expense		1,374		1,030			6,560		5,702
Income from continuing operations		4,705		4,607			21,097		20,745
Discontinued operations:
Income from discontinued operations, net of tax		—		446			—		446
Loss on disposal of discontinued operations, net of tax		—		(667	)		—		(760	)
Income (Loss) from discontinued operations		—		(221	)		—		(314	)
NET INCOME	$	4,705	$	4,386		$	21,097	$	20,431
Net income per common share
Basic	$	0.37	$	0.35		$	1.67	$	1.62
Diluted	$	0.37	$	0.35		$	1.67	$	1.62
Net income per common share from continuing operations
Basic	$	0.37	$	0.37		$	1.67	$	1.65
Diluted	$	0.37	$	0.36		$	1.67	$	1.65
Net income per common share from discontinued operations
Basic	$	—	$	(0.02	)	$	—	$	(0.02	)
Diluted	$	—	$	(0.02	)	$	—	$	(0.02	)
Weighted average shares and equivalents
Basic		12,640		12,591			12,631		12,577
Diluted		12,653		12,627			12,643		12,610
Dividends declared per share
Common	$	0.31	$	0.31		$	1.24	$	1.24

Omega Financial Corporation
Consolidated Net Interest Income Analysis
Fourth Quarter 2007 vs. Fourth Quarter 2006
(In thousands)
	Fourth Quarter 2007								Fourth Quarter 2006								Increase/(Decrease)
	Average						Income/		Average						Income/		Due To			Due To			Net
	Balance			Rate			Expense		Balance			Rate			Expense		Volume			Rate			Change
INTEREST EARNING ASSETS
Money Market Investments
Interest Bearing Deposits		22,293			3.95	%		222		11,738			4.36	%		129		106			(13	)		93
Federal Funds Sold		33,876			4.50	%		384		13,489			5.26	%		179		234			(29	)		205
Total Money Market Investments		56,169			4.28	%		606		25,227			4.84	%		308		340			(42	)		298
Investment Securities
U.S. Treasuries and Agencies		258,748			4.66	%		3,037		276,502			4.07	%		2,835		(190	)		392			202
State and Municipals-Tax Free		695			3.45	%		6		16,265			2.31	%		94		(119	)		31			(88	)
Corporate Securities & Stock		25,199			6.08	%		383		24,331			6.00	%		365		13			5			18
Total Investment Securities		284,642			4.78	%		3,426		317,098			4.13	%		3,294		(297	)		429			132
Loans
Commercial Loans		216,325			7.31	%		3,988		247,984			7.52	%		4,699		(583	)		(128	)		(711	)
Tax Free Commercial Loans		16,267			4.90	%		201		17,839			4.80	%		216		(19	)		4			(15	)
Real Estate Loans		630,459			6.81	%		10,731		665,012			6.90	%		11,477		(596	)		(150	)		(746	)
Tax Free Real Estate Loans		37,949			4.37	%		415		40,463			4.34	%		439		(27	)		3			(24	)
Personal Loans and Leases		207,554			7.61	%		3,979		191,730			7.12	%		3,442		293			244			537
Total Loans		1,108,554			6.95	%		19,314		1,163,028			6.95	%		20,273		(933	)		(26	)		(959	)
Total Earning Assets		1,449,365			6.42	%		23,346		1,505,353			6.32	%		23,875		(889	)		360			(529	)
FUNDING SOURCES
Interest Bearing Liabilities
Checking with Interest		292,163			0.65	%		476		298,946			0.78	%		586		(13	)		(97	)		(110	)
Money Market Deposits		65,928			1.47	%		245		78,236			1.51	%		297		(45	)		(8	)		(52	)
Savings Deposits		168,921			0.55	%		234		181,884			0.55	%		252		(18	)		—			(18	)
CD’S, $100,000 and Over		90,324			4.41	%		1,005		97,569			4.28	%		1,052		(79	)		32			(47	)
Other Time Deposits		433,672			4.26	%		4,652		470,560			3.92	%		4,651		(382	)		383			1
Total Interest Bearing Deposits		1,051,008			2.50	%		6,612		1,127,195			2.41	%		6,838		(537	)		311			(226	)
Short-Term Borrowings		68,152			3.01	%		517		61,838			3.78	%		589		56			(128	)		(72	)
Long-Term Debt		82,372			6.08	%		1,253		84,303			5.90	%		1,244		(29	)		38			9
Other Interest Bearing Liabilities		799			4.01	%		8		814			4.42	%		9		(0	)		(1	)		(1	)
Demand Deposits		232,341								232,014
Cash		(45,648	)							(49,442	)
Other		60,341								48,631
Total Funding Sources		1,449,365			2.30	%		8,390		1,505,353			2.29	%		8,680		(510	)		220			(290	)
Net Int Spread — Net Int Income					4.12	%		14,956					4.03	%		15,195		(380	)		141			(239	)
Net Int Spread — Tax Equivalent					4.21	%							4.14	%
Net Int Income — Tax Equivalent								15,291								15,598
Tax Rate					35	%							35	%