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BT FINANCIAL CORPORATION HOLDS ANNUAL SHAREHOLDERS' MEETING

 BT FINANCIAL CORPORATION HOLDS ANNUAL SHAREHOLDERS' MEETING
 JOHNSTOWN, Pa., May 13 /PRNewswire/ -- The annual shareholders' meeting of BT Financial Corporation (NASDAQ-NMS: BTFC) was held at 3 p.m. on May 12 at the corporation's headquarters, 532-534 Main St., Johnstown.
 "In this volatile market, technology, innovation and service will be the keys to success in this new decade, and BT Financial Corporation is a key player," Gerald W. Swatsworth, chairman, president and chief executive officer, BT Financial Corporation, said. "Our philosophy and plan of operations will permit us to continue to operate a successful financial service organization and improve the long-range return to our shareholders. We can truthfully say BT Financial Corporation is ready for the future."
 The chairman assured shareholders the corporation will continue to build the value of the corporation's franchises by adding more banks, enhancing customer service and ensuring cost competitiveness.
 He believes the management skills which led the corporation through tough economic periods will enable it "to emerge from the current economic recession as a much stronger institution."
 He predicts economic downturn will continue until the second quarter with a reduced rate of inflation. Consumer confidence and spending should rebound slowly in the third quarter. Its anticipated short-term interest rates will remain stable through the second quarter and long-term bond rates will decline. However, long-term bond rates should increase slightly in the last half of 1992.
 He called upon bankers to work together in dealing with non-banks which provide financial services and regulations that make it difficult to serve customers and communities. He explained many investors are looking beyond the 4 or 5 percent certificate of deposit to the 7 or 8 percent bond or bond mutual fund.
 He encouraged investors to learn about the credit and market risks associated with higher yields. Credit risk is the volatility of a security to receive interest and principal payments. Market risk is the extent to which a securities rate changes.
 The chairman cautioned the higher the yield, the greater the risk. An increase in interest rates could decrease the value of the bond or mutual fund, he added.
 Urging investors to stick with short-term investments, he advised them to protect their principal rather than worry about interest rates.
 Confident about the corporation's strength in equity, capital and a management team dedicated to customer service, Swatsworth discussed prospects for 1992. Calling them "exceptionally positive," he said BT Financial Corporation and its affiliates:
 -- Are committed to bottom-line results.
 -- Have the technological tools needed to fulfill customers' needs.
 -- Make quality service and financial performance job one.
 -- Provide excellent service to the communities it serves under a holding company structure which enables it to operate as one large bank.
 -- Reduce their dependence upon any one economic region or type of industry, complementing the goal to broaden their diversification through acquisition.
 -- Maintain and excellent reputation in the market area as a financially strong institution.
 During the year, the corporation plans to continue making profitable acquisitions.
 The corporation also anticipates loan delinquency will increase slightly due to the erratic economy. However, it expects any resulting increases in its non-performing loan portfolio to be below that of its peer groups and remain consistent with 1991.
 The percentage of its net interest margin should remain stable despite the Federal Reserve's dramatic decline in the interest and discount rates.
 The corporation predicts the increase in non-interest income to be at approximately the 3 percent rate of inflation. Its non-interest expenses should rise no higher than the anticipated rate of inflation.
 John H. Anderson, vice chairman of the corporation, reviewed financial results for the first quarter ended March 31, 1992. He said a cash dividend of $.25 per share to shareholders was declared by the board of directors on April 22, 1992. The record date for the dividend was May 4, 1992, payable June 1, 1992.
 The increased cash dividend supports the corporation's philosophy of shareholders benefiting from improved earnings.
 Anderson also announced that consolidated net income for the first quarter totaled $2.06 million, or $.69 per share, compared with the $1.73 million, or $.58 per share, in the first quarter of 1991. The acquisition of Peoples Federal Savings Bank and the Somerset office of Atlantic Financial Savings in the second half of 1991 had a favorable impact on net income, he noted.
 The presidents of each affiliate, namely John W. Egnot, Johnstown Bank and Trust Company: Eric F. Rummel, Laurel Bank; Harold E. Trevenen, Fayette Bank and Trust Company; and Kim Craig, BT Management Trust Company, reviewed the results at their respective affiliates for the previous year.
 The following people were elected to the board of directors of BT Financial Corporation for a four-year term, expiring in 1996: Martin L. Bearer, L. Robert Kimball and Ethel J. Otrosina. William B. Kania and William R. Snoddy were elected to a one-year term expiring in 1993.
 At the reorganization meeting, the corporate officers of BT Financial Corporation were re-elected: Swatsworth, chairman, president and chief executive officer; Anderson, vice chairman; Otrosina, executive vice president and secretary; and Carl J. Motter Jr., executive vice president and treasurer.
 In addition, the corporate officers of BT Financial Corporation's affiliates were re-elected. They are as follows:
 -- Johnstown Bank and Trust Company: Swatsworth, chairman and chief executive officer; Egnot, president; Otrosina, executive vice president and secretary; and Motter, executive vice president and treasurer.
 -- Laurel Bank: Rummel, president, and Marjorie Griffith, executive vice president, secretary and treasurer.
 -- Fayette Bank and Trust Company: Trevenen, president; Andrew J. Duran, executive vice president and treasurer; and Gilda A. Blaney, vice president and secretary.
 -- BT Management Trust Company: Craig, president; Otrosina, secretary and assistant treasurer; and Motter, treasurer and assistant secretary.
 -- Bedford Associates, Inc.: Robert D. Stiles, president; Otrosina, secretary and assistant treasurer; and Motter, treasurer and assistant secretary.
 All other affiliate officers were also re-elected.
 -0- 5/13/92
 /CONTACT: Gerald W. Swatsworth, chairman, president and CEO of BT Financial Corporation, 814-532-3801/
 (BTFC) CO: BT Financial Corporation ST: Pennsylvania IN: FIN SU: PER


DM-JG -- PG007 -- 9732 05/13/92 13:19 EDT
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Date:May 13, 1992
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