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PNC BANK, OHIO, JOINS FHLB OF CINCINNATI

 CINCINNATI, July 26 /PRNewswire/ -- Charles Lee Thiemann, president of the Federal Home Loan Bank of Cincinnati (FHLB) announced that PNC Bank, Ohio, National Association, headquartered in Cincinnati, received approval for membership in the FHLB. PNC becomes the 258th financial institution to join the bank since the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) opened membership to commercial banks. With assets of $3.5 billion, PNC operates 44 branches in Greater Cincinnati.
 "PNC has an outstanding reputation among financial institutions and a solid commitment to the customers it serves," said Thiemann. "It will be a pleasure to assist them with FHLB products and services as they continue to meet the housing needs of their customers in Cincinnati and surrounding areas."
 As a member stockholder of the FHLB of Cincinnati, PNC Bank will have access to a variety of customized credit products which promote the availability and affordability of housing finance and home ownership. FHLB credit products assist members with the overall financial management of their institution.
 Ronald R. Blankenbuehler, senior vice president/treasury of PNC Bank, Ohio, commented, "PNC Bank is proud to become a member of the FHLB of Cincinnati. FHLB membership will provide us with funding access to assist in our mortgage related lending and investment activities."
 The largest Ohio bank to become an FHLB member, PNC is the most recent bank in a growing list of commercial banks to join the Cincinnati Bank. In 1993, 70 banks have become member stockholders and 36 more currently have applications under process. "At our current rate of membership and growth, over 300 commercial banks, in total, will have become stockholders by year-end. That represents 40 percent of all eligible banks in our three-state district," said Thiemann. "We are pleased that the value of membership is recognized by both large regional banks and smaller community banks throughout Kentucky, Ohio and Tennessee."
 One of 12 District Banks serving over 3,900 stockholders, the FHLB of Cincinnati is a triple-A rated regional credit and correspondent bank providing customized services for housing lenders located in the Fifth District of Kentucky, Ohio and Tennessee. The FHLB system, chartered in 1932 by the U.S. Congress to promote housing finance, is supervised by the Federal Housing Finance Board but is privately owned and operated.
 -0- 7/26/93
 /CONTACT: Thomas J. Ciresi, vice president of The Federal Home Loan Bank of Cincinnati, 513-852-7695, or Ronald R. Blankenbuehler, senior vice president, treasury, of PNC Bank, 513-651-8000/


CO: The Federal Home Loan Bank of Cincinnati; PNC Bank ST: Ohio IN: FIN SU:

AR -- CL004 -- 5567 07/26/93 09:34 EDT
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Date:Jul 26, 1993
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