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FIRST HARRISBURG BANCOR ANNOUNCES EMPLOYEE STOCK OWNERSHIP PLAN

    FIRST HARRISBURG BANCOR ANNOUNCES EMPLOYEE STOCK OWNERSHIP PLAN
    HARRISBURG, Pa., Nov. 4 /PRNewswire/ -- Robert H. Trewhella, president and chief executive officer of First Harrisburg Bancor, Inc. (NASDAQ-NMS: FFHP), announced today that the company has recently established an Employee Stock Ownership Plan (ESOP).
    The company selected Dauphin Deposit Bank of Harrisburg as the trustee for the ESOP.  The ESOP borrowed funds from an independent third party for the purpose of purchasing up to 10 percent of the company's outstanding common stock.
    The company recently increased its dividend to its stockholders for the third year in a row and its primary subsidiary, First Federal of Harrisburg, continues to meet all of the fully phased-in regulatory capital requirements.
    The company's stock is traded on the NASDAQ NMS under the symbol FFHP.
    /delval/
    -0-                    11/4/91
    /CONTACT:  Michael S. Leonzo of First Harrisburg Bancor, 717-232-6661/
    (FFHP) CO:  First Harrisburg Bancor, Inc. ST:  Pennsylvania IN:  FIN SU: MK-KA -- PH024 -- 0918 11/04/91 16:53 EST
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Publication:PR Newswire
Date:Nov 4, 1991
Words:162
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