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COMMUNITY BANCORP ANNOUNCES AGREEMENT OF REORGANIZATION AND MERGER

 COMMUNITY BANCORP ANNOUNCES AGREEMENT OF REORGANIZATION AND MERGER
 MONROEVILLE, Pa., March 11 /PRNewswire/ -- Community Bancorp, Inc. (NASDAQ-NMS: CBPA) announced today that their agreement of reorganization and merger with USBANCORP, Inc. (NASDAQ-NMS: UBAN) was approved at the special meeting of shareholders held on March 10, 1992.
 Community stockholders will receive $9.45 in cash and .2179 share of USBANCORP common stock for each share of Community common stock exchanged. The effective date of the merger will be on or before March 31, 1992.
 With the acquisition of Community, USBANCORP will have a 17 office and $500 million asset presence in Allegheny County and a total asset size of approximately $1.2 billion with 39 offices in six southwestern Pennsylvania counties.
 -0- 3/11/92
 /CONTACT: Kenneth J. Tyson of Community Bancorp, 412-242-6011/
 (CBPA UBAN) CO: Community Bancorp, Inc.; USBANCORP, Inc. ST: Pennsylvania IN: FIN SU: TNM


CD -- PG007 -- 7384 03/11/92 15:02 EST
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Publication:PR Newswire
Date:Mar 11, 1992
Words:154
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