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FIRST FINANCIAL BANK COMPLETES UNITED FEDERAL BANK TRANSACTION

 PITTSBURGH, Jan. 4 /PRNewswire/ -- First Financial Bank, F.S.B., and Westinghouse Financial Services, Inc., today announced the closing of their transaction for First Financial to purchase Westinghouse's Illinois-based thrift, Westinghouse Federal Bank, F.S.B., which conducted business as United Federal Bank. The cash purchase price was about $53 million, approximately Westinghouse Financial Services' carrying value.
 United Federal Bank, headquartered in Galesburg, Ill., has 19 offices in central Illinois. These offices will conduct business as branches of First Financial Bank.
 First Financial Bank is the major subsidiary of First Financial Corporation (NASDAQ: FFHC). As a result of this transaction, the corporation will have assets of approximately $4.5 billion with 113 banking offices in Wisconsin and Illinois.
 Westinghouse Financial Services, Inc., is a subsidiary of Westinghouse Electric Corporation (NYSE: WX).
 -0- 1/4/93
 /CONTACT: Brad Hemstreet of Westinghouse Financial Services, 412-393-3232, or Ken Csinicsek of First Financial Corporation, 715-345-4602/
 (FFHC WX)


CO: First Financial Bank, F.S.B.; Westinghouse Financial Services,
 Inc.; Westinghouse Federal Bank; First Financial Corporation ST: Illinois IN: FIN SU: TNM


CD-JS -- PG009 -- 1459 01/04/93 17:22 EST
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Publication:PR Newswire
Date:Jan 4, 1993
Words:185
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