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BT FINANCIAL CORPORATION AND FIRSTSOUTH BANCORP, INC. COMPLETE MERGER

 JOHNSTOWN, Pa., Dec. 13 /PRNewswire/ -- BT Financial Corporation (NASDAQ-NMS: BTFC), announced today that it completed its previously announced acquisition of FirstSouth Bancorp, Inc.
 As part of the acquisition, FirstSouth Bancorp's wholly-owned affiliate, FirstSouth Savings Association, merged with BT Financial Corporation's Fayette Bank and Trust Company. FirstSouth Savings Association was headquartered in Pittsburgh, with its main office on Carson Street in Pittsburgh's Southside, and had six branch offices in Brookline, Brentwood, Pleasant Hills, Mt. Oliver, Donaldson's Crossroads and McCandless. All of these offices will become offices of Fayette Bank and Trust Company, effective immediately.
 In discussing the merger, John H. Anderson, chairman, president and chief executive officer of BT Financial Corporation, stated, "We are delighted with the opportunity to add FirstSouth Savings Association to our community banking franchise. FirstSouth brings to our organization a strong secondary mortgage capability, a stable customer base, and an expanded geographic presence for our commercial bank products and services."
 Harry F. Radcliffe, president and chief executive officer of FirstSouth Bancorp, Inc., formerly commented, "FirstSouth believes the merger into the BT Financial Corporation system will provide its current customer base with the additional services available at a commercial bank, while also allowing its current employees to expand their own horizons. The combination of these companies should only enhance future opportunities in the financial community."
 BT Financial Corporation, a bank holding company headquartered in Johnstown, upon completion of the merger, has 63 branch offices in Allegheny, Armstrong, Bedford, Blair, Butler, Cambria, Fayette, Indiana, Somerset, Washington and Westmoreland counties in western Pennsylvania. The banking affiliates are: Johnstown Bank and Trust Company, Johnstown; Laurel Bank, Ebensburg, Pa.; and Fayette Bank and Trust Company, Uniontown, Pa.
 BT Financial Corporation's other affiliates are BT Management Trust Company, a Pennsylvania state-chartered trust company, and Bedford Associates, Inc., a real estate company.
 At Sept. 30, 1993, BT Financial Corporation and its affiliates had total assets of approximately $913 million and FirstSouth Bancorp, Inc. had total assets of approximately $151 million. After the merger, BT Financial Corporation's total assets are approximately $1.1 billion.
 -0- 12/13/93
 /CONTACT: John H. Anderson, chairman, president and chief executive officer of BT Financial, 814-532-3801/
 (BTFC)


CO: BT Financial Corporation; FirstSouth Bancorp, Inc.; FirstSouth
 Savings Association; Fayette Bank and Trust Company ST: Pennsylvania IN: FIN SU: TNM


KC -- PG008 -- 3215 12/13/93 13:50 EST
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Publication:PR Newswire
Date:Dec 13, 1993
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