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FIRST WESTERN BANCORP INC. SUBSIDIARIES BECOME FEDERAL HOME LOAN BANK OF PITTSBURGH STOCKHOLDERS

 FIRST WESTERN BANCORP INC. SUBSIDIARIES BECOME
 FEDERAL HOME LOAN BANK OF PITTSBURGH STOCKHOLDERS
 PITTSBURGH, May 6 /PRNewswire/ -- James D. Roy, president of the Federal Home Loan Bank of Pittsburgh, announced that all three bank subsidiaries of First Western Bancorp, Inc. (NASDAQ: FWBI) are now stockholders of the bank.
 Two First Western banks which recently joined are First National Bank of Western Pennsylvania and Beaver Trust Company. First Federal of Western Pennsylvania has been a long-standing stockholder of the bank.
 "We are delighted to have all of First Western's banking subsidiaries as stockholders in our bank," said Roy. "First Western is a solid banking franchise, with an excellent customer base and a strong presence in its market area." Roy continued, "The Home Loan Bank has made aggressive strides in recruiting new stockholders and we continue to see our membership grow." As of March 31, 1992, the Pittsburgh bank had 261 stockholders, of which 85 are commercial banks. Nationwide, nearly 700 commercial banks were stockholders of the 12 Federal Home Loan Banks across the country.
 Commenting on the benefits institutions receive as a result of their membership, Roy said, "Access to Triple-A rated term funds and low-cost financing for community investment are among the top competitive advantages the bank offers to its stockholders."
 First Western Bancorp, Inc., is a holding company headquartered in New Castle, Pa. It has 36 banking and three trust locations in western Pennsylvania and northeastern Ohio. At March 31, 1992, it had more than $1.1 billion in assets.
 First National Bank of Western Pennsylvania is a commercial bank located in New Castle, Pa. As of March 31, 1992, First National had total assets of $355.8 million. Its real estate loans and securities amounted to $166.5 million or 46.8 percent of total assets. Beaver Trust Company is a commercial bank located in Beaver, Pa. As of March 31, 1992, Beaver Trust had total assets of $391.8 million. Its real estate loans and securities amounted to $250.3 million or 63.9 percent of total assets. First Federal of Western Pennsylvania is located in Sharon, Pa. As of March 31, 1992, First Federal had total assets of $371.3 million. Its real estate loans and securities amounted to $313.5 million or 84.4 percent of total assets.
 Thomas J. O'Shane, president and chief executive officer of First Western said, "We have always been committed to serving the housing finance needs of the communities in our market area. Access to the bank's funds will enhance our asset/liability management and mortgage lending capabilities and, therefore, improve our customer service." O'Shane continued, "Many financial institutions are finding the bank's products and services to be an integral part of their lending operations."
 The Federal Home Loan Bank of Pittsburgh is part of the Federal Home Loan Bank System, a national network of 12 regional, stockholder- owned banks, created by the U.S. Congress in 1932 to promote home finance. The bank's economical funding, operating and advisory services are available to all financial institutions engaged in residential mortgage financing, including savings institutions, commercial banks, credit unions, and insurance companies. With assets of $9 billion, the Pittsburgh bank serves the states of Delaware, Pennsylvania and West Virginia.
 -0- 5/6/92
 /CONTACT: Rosemary A. Abendroth of Federal Home Loan Bank of Pittsburgh, 412-288-2860/
 (FWBI) CO: Federal Home Loan Bank of Pittsburgh; First Western Bancorp, Inc. ST: Pennsylvania IN: FIN SU:


JT -- PG002 -- 6936 05/06/92 09:17 EDT
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Publication:PR Newswire
Date:May 6, 1992
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