CommunityOne Bancorp 8-K/A Regulation FD Disclosure

FNB UNITED CORP.

Southeast Super-Community

Banking Conference

Atlanta, Georgia

February 11-12, 2008

Yes You Can

®

Yes We Can

®

Exhibit 99.1

Forward-Looking Statements

FNB

United

Corp.

has

made

forward-looking

statements

in

the

accompanying

presentation

materials

that

are

subject

to

risks

and

uncertainties.

These

statements

are

based

on

the

beliefs

and

assumptions

of

the

management

of

FNB

United

Corp.,

and

on

the

information

available

to

management

at

the

time

the

presentation

materials

were

prepared.

These

forward-looking

statements

involve

certain

risks

and

uncertainties,

including

a

variety

of

factors

that

may

cause

FNB

United

Corp’s

actual

results

to

differ

materially

from

the

anticipated

results

or

other

expectations

expressed

in

such

forward-

looking

statements.

Readers

are

cautioned

not

to

place

undue

reliance

on

these

forward-looking

statements

and

are

advised

to

carefully

review

the

risk

factors

described

in

other

documents

that

FNB

United

Corp.

files

from

time

to

time

with

the

Securities

and

Exchange

Commission,

including

the

Quarterly

Reports

on

Form

10-Q,

the

Annual

Report

on

Form

10-K,

and

other

required

filings.

FNB UNITED –

Presentation Contents

•

Why

FNB

UNITED

Who We Are

Value Metrics & Integration Accomplishments

Management & Culture

•

Financial Highlights

•

Business

Strategy

–

Earnings

and

Growth

Opportunities

•

Questions

Who We Are

Why FNB UNITED

•

Solid Franchise

•

Historical Strong Operating

Performance

•

Strong Dividend Yield

…

An Attractive Value

Why FNB

UNITED

-

Value

1907, as First National Bank of 

Asheboro

Founded:

91,000 +

43 Banking Offices

35 Communities in 17 N.C. Counties

Customers:

Locations:

$1.44 Billion

Deposits:

$1.45 Billion

Loans:

$1.91 Billion

Assets:

9

th

Largest Financial Service Company

HQ’d in North Carolina

Value -

Dividend History

$0.38

$0.45

$0.51

$0.51

$0.53

$0.58

$0.59

$0.60

$0.62

$0.62

$0.60

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

Value -

Investor Opportunity

Dividend Yield (%)

5.00

FNB United

Corp.

2.85

SNL Banks

Peer Group*

Price / LTM EPS (X)

11.0

FNB United

Corp.

14.7

SNL Banks

Peer Group*

0.61

NC Banks**

14.36

NC Banks**

*SNL Data –

Banks between $1 -

$5 billion as of 02/01/08

**SNL Data –

NC State Public Bank Median as of 02/01/08

Price / Book (%)

Price / Tangible Book (%)

*SNL Data –

Banks between $1 -

$5 billion as of 02/01/08

**SNL Data –

NC State Public Bank Median as of 02/01/08

63.4

FNB United

Corp.

154.8

SNL Banks

Peer Group*

137.8

FNB United

Corp.

210.0

SNL Banks

Peer Group*

117.6

NC Banks**

132.3

NC Banks**

Value -

Investor Opportunity

FNB

UNITED

Acquisitions

$1,091 MM

TOTAL

OTHER

7

$25MM

Dover Mortgage Company

April 2003

Offices

Assets

BANKS

$680 MM

$151 MM

$134 MM

$126 MM

Integrity Financial Inc.

(Catawba Valley/First

Gaston/Northwestern Banks)

United Financial Inc.

(Alamance/Hillsborough Banks)

Rowan Bancorp.

(Rowan Savings Bank)

Carolina Fincorp. Inc

(Richmond Savings Bank)

17

May 2006

3

November 2005

3

August 2002

5

April 2000

Bank Brand Unification

and its divisions

Organization Structure

FNB United Corp.

(Nasdaq: FNBN)

CommunityONE

Bank, N.A.

Dover Mortgage Company

Yes You Can

®

Yes We Can

®

The Yes!

Bank Franchise

Integration Accomplishments

•

Merge 3 Data Systems

•

Merge 5 Credit Card Providers

•

Merge 3 Debit Card/ATM Providers

•

Merge 4 Bank Brands

•

New Teller & Mortgage Production Systems

•

New Financial, I.T. & Risk Management Teams

•

Closed One Ops Center –

Implemented Electronic

Image Exchange

•

See Appendix II for Quarter by Quarter

Progress and

Accomplishment

Management

and Culture

Experienced Management Team

Journalism

51

21

21

SVP, Chief Human Res.

Deborah B. Auman

Planters NB, Bank of

Candor

52

26

20

SVP, Chief Credit

Officer

William S. Bruton

Camco,  FCNB Corp.

Union Planters   

KPMG

54

31

<1

EVP, Chief Financial

Officer

Mark A. Severson

Wachovia

49

26

6

EVP, Chief Banking

Officer

R. Mark Hensley

President, Richmond

Savings; Raleigh Fed,

Newport News Savgs

63

36

7

EVP, Chief Mktg

Projects & Subsidiary

R. Larry Campbell

Attorney, Corp. and

Private Practice

56

21

21

Chrm, Pres. & CEO

Michael C. Miller

Previous

Experience

Age

Years in

Banking

Years at

FNB

Title

Name

FNB Southeast,

Southern Nat’l Bank,

Independence Bank

53

18

<1

SVP, Chief

Accounting Officer

K. Dwight Willoughby

SunTrust, Federal

Home Loan Bank-

Atlanta, Fulton Federal

49

27

<1

SVP, Treasurer

W. Carey Chapman

Western Savings, Zions

Bancorporation

52

25

17

SVP, Chief Risk

Officer

Dean S. Tingey

Fidelity Federal B&T,      

Resource Management

Assoc

60

30

<1

SVP, Chief

Information Officer

David E. Miller

Wachovia

55

32

6

SVP, Chief Lending

Officer

Eddie A. Causey

Bank of America,

WesBanco

36

11

6

SVP, Chief Wealth

Management

Timothy A. Britt

Previous

Experience

Age

Years in

Banking

Years at

FNB

Title

Name

Experienced Management Team

Experienced Management Team

Fieldstone Mortgage,

First Franklin

Financial, Southern

Pacific Funding

54

24

<1

Dover Mortgage

President

Harvey Goldberg

AmSouth, First Union

42

20

3

Regional President

William R. Wood, III

Wachovia

44

22

6

Regional President

J. Greg Spainhour

Wachovia

44

15

3

Regional President

J. Scott Kittrell

First Union/Wachovia

56

23

2

Regional President

Don S. Harrison

Previous

Experience

Age

Years in

Banking

Years at

FNB

Title

Name

Our Culture

•

Performance and Team Oriented

•

Participative and Positive

•

Service

•

Education / Training

•

Accountable

Performance and Team Oriented

•

Maximize Long-term Value Of Organization

•

Team Orientation -

Universal Participation

•

Coaching And Communication

•

Educational Program

Performance Compensation

for STAKEHOLDERS™

YES!

Branding

CommunityONE

is

the

YES!

Bank.

It

is

plainly

stated

in

our

Yes

you

can

®

—Yes

we

can

®

trademarks.

It

is

reflected

in

the

design

of

our

logo

and

corporate

mascot,

Jack.

And

it

is

repeated

in

our

customer

service

programs,

company

spirit

campaigns

and

marketing

messages.

But

more

than

a

motto,

YES!

is

our

promise

to

exceed

your

expectations

through

better

banking

and

outstanding

service.

It’s

part

of

our

culture.

It

empowers

our

employees

and

describes

who

we

are

and

what

we

do.

Yes

Customers

Can.

Yes

Communities

Can.

Yes

Schools

Can.

Yes

Your

Future

Can.

Because

We

Can.

Participative and Positive

YESPYs

2007

Financial Highlights

$813

$1,307

$1,446

$842

$1,421

$1,441

2005

2006

2007

2005

2006

2007

Loan and Deposit Growth

(In Millions)

Loan Growth

Deposit Growth

Loan Portfolio Mix

Home Equity Lines

of Credit

7%

Consumer/

Other

6%

Commercial/

Industrial

10%

Commercial

RE-Owner

Occupied

22%

Commercial

RE-Income

13%

RE Construction &

Development

26%

1-4 Residential

1st Mortgage

16%

Loan Portfolio

December 31, 2007

Approximately 85% secured by real estate

Variable rate loans account for approximately 59% of the total portfolio

Funding Mix

FHLB/FFP

8%

CD / IRA

51%

NOW

10%

IMM/SAV/Repo

21%

DDA

10%

Funding Portfolio

December 31, 2007

Profitability

$9,937

$12,187

$12,361

2005

2006

2007

$1.69

$1.25

$1.09

2005

2006

2007

Net Income

Earnings Per Share

(In Thousands)

(unaudited)

(unaudited)

Profitability

4.16%

4.20%

4.00%

2005

2006

2007

Net Interest Margin

Return On Average Assets

1.06%

0.77%

0.66%

2005

2006

2007

(unaudited)

(unaudited)

Return On Equity

11.25%

14.36%

7.00%

14.75%

5.81%

12.99%

2005

2006

2007

Return on Ave. Equity

Return on Ave. Tangible Equity

(unaudited)

•

No Sub-Prime Mortgages

•

No Alt-A Mortgages

•

No Non-Agency MBS/CMOs

•

No CDOs

Yes You Can

®

Yes We Can

®

Yes You Can

®

Yes We Can

®

Asset Composition

0.33%

1.14%*

0.91%

1.10%

2003

0.47%

1.12%*

0.68%

0.80%

2004

0.22%

1.25%*

0.64%

0.76%

2005

0.16%

1.22%

0.82%

0.85%

2006

0.27%

Net Charge Offs

Average Loans

1.20%

Loan Loss Reserve

Total Loans Held for

Investment

1.13%

NPA’s/Total Assets

1.29%

Nonperforming Loans

Total Loans Held for

Investment

2007

Asset Quality

Asset Quality

*  Includes reserve for unfunded commitments

(See Appendix)

NPA's / Total Assets

0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%

2003

2004

2005

2006

2007

unaudited

Asset Quality

Reserves v. Loss Experience

0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%

1.40%

2003

2004

2005

2006

2007

unaudited

Reserve for Loan Losses / Total Loans HFI

Net Charge Offs / Average Loans

Asset Quality

Business Strategy –

Earnings and Growth

Opportunities

Core Strategies

•

Manage/Improve Asset Quality

•

Restore Historical Financial Performance

Grow Fee Income –

Wealth Management,

Mortgage

Banking

Expense Control –

Staffing + Electronic

Transactions

•

Profitable Franchise Growth

Increase Penetration of Current Markets

DeNovo Offices

Improving Financial Performance

Sales Initiatives –

Minimize Funding Gap

•

Core Deposit Focus

New CheckingONE Deposit (NOW) Account

Increase Fee Income –

Trust & Mortgage

Electronic Banking Opportunities

•

Enhance Corporate Cash Management

Increase Merchant Service Relationship

Promote Remote Capture

The “New”

Dover Mortgage 

–

Now sub of bank

–

New leadership

–

New system &

Operations

–

New Markets

–

Expanded

Wholesale

–

Reverse Mortgages

Improving Financial Performance

Integration and Cost Savings Initiatives:

•

Sold Credit Card Portfolio

Net, One-Time Gain in 2007

Improve Product Offering, Increase Fee Income, Reduce Risk

Reduce Overhead (five providers), beginning 2008

•

Consolidate ATM Switch and Debit Card Processing

Increase Fee Income in 2008

Reduce Expenses (three providers)

Improving Financial Performance

New eStatement Users 2007

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sept

Oct

Nov

Dec

Markets:

Where We Are,

Where We Plan to Grow

Growth Strategy

•

Increase Penetration of Current Markets

Attractive New Markets & Customer Base

•

De Novo Offices

Two Offices to open in 2008 (Greensboro-

Cornelius)

•

Integrated Wealth Management/Mortgage

Services in CommunityONE Bank

•

Increased synergy with Dover Mortgage

Market Growth Potential

*Source: SNL Financial

*Top 5 in 8 of 17 Counties

As of June 30, 2007

Rank

Institution

Branch

Count

Total

Deposits

in Market

($000)

Total (%)

of Market

Share

1

Wachovia

76

5,770,318

21.27%

2

BB&T

74

4,633,702

17.08%

3

Sun Trust

54

2,285,674

8.43%

4

Bank of America

47

2,251,509

8.30%

5

FNB United Corp. (NC)

43

1,448,532

5.34%

6

Royal Bank of Canada

30

1,189,067

4.38%

7

First Citizens

33

1,023,047

3.77%

8

First Bancorp (NC)

27

727,601

2.68%

9

Yadkin Valley Bank

16

651,403

2.40%

10

High Point Bank

18

595,103

2.19%

Counties with #1

Market Share

Randolph*

Alamance, Guilford, Iredell, Scotland, Wilkes

Catawba, Gaston, Moore, Richmond, Watauga

Orange, Chatham

$51,658

$52,663

$54,979

$49,483

$53,182

$49,596

$48,368

Median

Household

Income

9.19%

14.47%

5.82%

2.73%

13.64%

5.54%

6.90%

Projected

Population

Change

(2007-2012)

16.34%

16. 39%

17.61%

15.33%

16.00%

13.56%

15.74%

Projected

HH Income

Change

(2007-2012)

458,085

$49,194

2

Third office

fall 2008

GUILFORD

59,765

$19,553

1

CHATHAM

155,050

$179,914

4

CATAWBA

84,923

$40,285

2

MOORE

149,877

$59,622

2

IREDELL

198,673

$175,801

5

GASTON

144,506

$55,314

2

ALAMANCE

Total

Population

2007

Actual

FNB United

Deposits

No. of

FNB

United 

Offices

County

*Source: SNL Financial

Market Growth Potential

Contiguous Counties / Future Markets Under Consideration

$64,184

$65,741

$49,819

$58,493

$45,881

$46,080

$54,157

Median

Household

Income

31.78%

15.27%

9.63%

13.88%

2.59%

4.95%

2.94%

Projected

Population

Change

(2007-2012)

19.01%

19.52%

11.84%

15.31%

13.89%

13.15%

17.90%

Projected

HH Income

Change

(2007-2012)

159,612

CABARRUS

73,688

LINCOLN

825,127

Office scheduled

for late 2008

MECKLEN-

BURG

178,366

UNION

124,599

$34,451

1

ORANGE

136,558

$108,497

4

ROWAN

140,578

$461,064

10

RANDOLPH

Total

Population

2007

Actual

FNB

United

Deposits

No. of FNB

United

Offices

County

*Source: SNL Financial

Market Growth Potential

Goals over the next three years include:

•Annual earnings per share growth: 7.5 -

10%

•Annual loan growth:  8-10 %

•Non-interest income:  25%+ of revenues

•Efficiency ratio:  60-63%

Position ourselves as a

Preeminent Community Bank in

Southeastern U. S.

Improving Financial Performance

Summary

Summary –

Why FNB

UNITED

•

Growing

Company in Good Markets

•

Experienced Management Team

•

Proven Integrator

•

Focused on Performance Improvement

…

equals …

Compelling Investment Opportunity

Questions?

Contact Information

Michael C. Miller

Chairman, President & CEO

Mike.Miller@MyYesBank.com

Mark A. Severson

Chief Financial Officer

Mark.Severson@MyYesBank.com

FNB United Corp.

CommunityONE Bank, N.A.

150 S. Fayetteville Street

PO Box 1328

Asheboro, NC  27204

336.626.8300

Yes You Can

®

Yes We Can

®

Appendix I

Historical Asset Quality Measurements

0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%

1.40%

0.00%

20.00%

40.00%

60.00%

80.00%

100.00%

120.00%

140.00%

160.00%

180.00%

Nonperforming Loans / Total Loans HFI

1.10%

0.80%

0.76%

0.85%

0.96%

0.86%

0.86%

1.29%

Reserve for Loan Losses / Total Loans HFI

1.14%

1.12%

1.25%

1.22%

1.20%

1.16%

1.17%

1.20%

Net Charge Offs / Average Loans

0.330%

0.470%

0.220%

0.160%

0.211%

0.160%

0.220%

0.270%

OREO & Repossessed Assets / Total Assets

0.047%

0.073%

0.105%

0.198%

0.167%

0.179%

0.266%

0.159%

Reserve for Loan Losses / NPL's

102.99%

139.53%

164.49%

143.17%

124.09%

135.43%

135.46%

92.90%

2003

2004

2005

2006

Q1-2007

unaudtd

Q2-2007

unaudtd

Q3-3007

unaudtd

Q4-2007

unaudtd

New Stakeholder Orientation meetings in Western Region and Eastern Region

new employees

Testing begun on Remote Capture

Yespy’s

Bankwide

Meeting/Introduced WIN philosophy to entire staff

Commenced e-statement campaign internally and externally

Commenced e-statement campaign internally and externally

(over 4000 accounts currently)

(over 4000 accounts currently)

Created a new past due report to allow individual bankers a quicker and easier

way to identify their consumer past dues

Completed HMDA data review & submission of data to Fed; 5 separate data

bases -

split & merged into 3 data bases  (One for each of the 3 bank charters in

effect in 2006)

Completed integration of Integrity personnel into FNB

Completed integration of Integrity personnel into FNB

United 401(k) plan, and updated and improved plan

United 401(k) plan, and updated and improved plan

Appendix II -2007 Q-1 Accomplishments

Vertex (teller system) conversion

Conducted ATM / Debit solution study

Completed installation of 18 new ATMs

Brand Unification –

Brand Unification –

joined First National, Catawba Valley,

joined First National, Catawba Valley,

First Gaston and Northwestern flags under

First Gaston and Northwestern flags under

“CommunityONE”

“CommunityONE”

banner

banner

Board approval for new community offices –

Greensboro Hilltop & Cornelius

Remote Capture of business accounts implemented

Begin telephone (communications lines and plans) improvements and cost

reductions

New Mortgage origination system implemented –

also with Dover Mortgage

Appendix II -2007 Q-2 Accomplishments

Completed rollout of 3rd Party partner for Merchant

Completed rollout of 3rd Party partner for Merchant

Credit Card Services

Credit Card Services

Modified consumer loan pricing to make consumer loan pricing more

risk based pricing

Implemented automated CTR filing

Bank wide HMDA training

Implemented additional BSA/AML customer due diligence on business

deposit accounts

Signed with new Insurance Tracking Company for Flood and Hazard

Insurance

Successfully

exchanged

89%

of

unexchanged

stock

certificates

held

by

United Financial, Alamance Bank and Integrity Financial shareholders

(during Q1 and Q2).

Appendix II -2007 Q-2 Accomplishments

Completed Sale of five (5) Credit Card Portfolios

Entered into a new ATM/Debit Card processing contract

Celebrated 100 year Anniversary-kicked off “second”

Celebrated 100 year Anniversary-kicked off “second”

100 years

100 years

Installed and implemented eight (8) Cash dispensers for tellers–

4

FNB legacy branches, 4 Integrity branches

Rollout of new interest checking product –

Rollout of new interest checking product –

CheckingOne

CheckingOne

Ground Breaking held for Greensboro Hilltop community office

Appendix II -2007 Q-3 Accomplishments

Modified HELOC product to include a fixed rate option and a special

“teaser”

introductory rate

Participated in nationwide Pandemic Exercise

Consolidated the outsourced audit of Information Systems,

Consolidated the outsourced audit of Information Systems,

annual intrusion test, and SOX technical testing from three

annual intrusion test, and SOX technical testing from three

vendors to one vendor

vendors to one vendor

From 10/1/06 through 9/30/07, successfully managed 20 separate

business contingency events ranging in duration from 1 hour to

approximately 1 week

Developed new Cash Management Department housed at

Developed new Cash Management Department housed at

Northgate Ops Center

Northgate Ops Center

Appendix II -2007 Q-3 Accomplishments

Signed new courier contract reducing the bank cost

Signed new courier contract reducing the bank cost

Changed medical insurance to new provider, negotiating a

17 month contract with no additional cost to the bank for

employee coverage and no additional cost on basic plan to

employees for dependent coverage

Reorganized Dover Mortgage as subsidiary of

Reorganized Dover Mortgage as subsidiary of

CommunityONE Bank

CommunityONE Bank

Took action to permit FNB United stock to be eligible for

DTCC’s

Direct Registration System (DRS) that allows

registered shareholders to hold stock in book entry form.

Appendix II -2007 Q-3 Accomplishments

Implemented Electronic Image Exchange (Bankwide

Implemented Electronic Image Exchange (Bankwide

cash

cash

letter)

letter)

Passed OCC HMDA & CRA data scrubs for data submitted from 2002

through 2006

Brought remaining internal SOX testing in house, reducing

Brought remaining internal SOX testing in house, reducing

other outsourced SOX testing fees

other outsourced SOX testing fees

Entered into letter of intent to purchase Capital Bank Battleground

Avenue office in Greensboro

Made “special

provision”

to

loan

loss

reserve

Appendix II -2007 Q-4 Accomplishments