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CENTRAL PENNSYLVANIA FINANCIAL CORPORATION PRESIDENT AND CEO RETIRES

 CENTRAL PENNSYLVANIA FINANCIAL CORPORATION PRESIDENT AND CEO RETIRES
 SHAMOKIN, Pa., April 3 /PRNewswire/ -- Central Pennsylvania Financial Corporation (NASDAQ: CPSA) and its wholly owned subsidiary, Central Pennsylvania Savings Association, today announced the retirement of John M. O'Brien as the president and chief executive officer of both companies.
 O'Brien's retirement is effective immediately and the boards of directors of Central Pennsylvania Financial Corporation and Central Pennsylvania Savings Association appointed an interim management team to head the companies until the search for a new chief executive officer is completed. The interim management team will be headed by Joseph F. Conroy, senior vice president. O'Brien's retirement follows the previously announced agreement by Central Pennsylvania Financial Corporation and Central Pennsylvania Savings Association to voluntarily consent to administrative orders issued by the Office of Thrift Supervision.
 The corporation is the parent company of Central Pennsylvania Savings Association, which has 23 offices in central, southeastern and southern Pennsylvania. The corporation's assets total $550 million.
 -0- 4/3/92
 /CONTACT: Frank J. Fendt of Central Pennsylvania Financial, 717-644-0861/
 (CPSA) CO: Central Pennsylvania Financial Corporation ST: Pennsylvania IN: FIN SU: PER


KA-HN -- PH001 -- 4700 04/03/92 08:06 EST
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Publication:PR Newswire
Date:Apr 3, 1992
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