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CENTRAL PENNSYLVANIA FINANCIAL AND WHITE EAGLE FEDERAL SAVINGS BANK ANNOUNCE TERMINATION OF PREVIOUSLY ANNOUNCED ACQUISITION AGREEMENT

CENTRAL PENNSYLVANIA FINANCIAL AND WHITE EAGLE FEDERAL SAVINGS BANK
 ANNOUNCE TERMINATION OF PREVIOUSLY ANNOUNCED ACQUISITION AGREEMENT
 SHAMOKIN, Pa., Dec. 30 /PRNewswire/ -- Central Pennsylvania Financial Corporation (NASDAQ: CPSA) and White Eagle Federal Savings Bank today jointly announced the termination of their previously announced acquisition agreement.
 Central Pennsylvania and White Eagle had entered into the acquisition agreement on Dec. 13, 1989.
 The companies took today's action following a joint determination that the acquisition was no longer in the best interests of either company.
 Central Pennsylvania Financial Corporation is the parent company for Central Pennsylvania Savings Association. Total assets of the corporation as of Sept. 30, 1991, were in excess of $546 million. Central Pennsylvania Savings Association conducts business through 23 offices in 13 counties of Pennsylvania. The deposit accounts of the Association are insured by the Federal Deposit Insurance Corporation.
 -0- 12/30/91
 /CONTACT: Frank J. Fendt of Central Pennsylvania Financial, 717-644-0861/
 (CPSA) CO: Central Pennsylvania Financial Corporation; White Eagle Federal
 Savings Bank ST: Pennsylvania IN: FIN SU: TNM


CC-LJ -- PH016 -- 5729 12/30/91 16:25 EST
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Publication:PR Newswire
Date:Dec 30, 1991
Words:177
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