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FLAGSHIP FINANCIAL DECLARES COMMON STOCK CASH DIVIDEND

 FLAGSHIP FINANCIAL DECLARES COMMON STOCK CASH DIVIDEND
 JENKINTOWN, Pa., July 27 /PRNewswire/ -- At its regular meeting,


Flagship Financial Corp.'s (NASDAQ: FLGF) board of directors declared a regular quarterly dividend of $.10 per share.
 This dividend will be paid on Aug. 21, 1992, to common shareholders of record on Aug. 7.
 As previously reported, the company has signed a definitive agreement with PNC Financial Corp (NYSE: PNC) for PNC to acquire Flagship. Under terms of the agreement, PNC will pay Flagship shareholders $13.05 cash per common share. The transaction is subject to approval by certain regulatory authorities.
 Flagship Financial Corp., which ranks among the 10 largest publicly traded thrift institutions in Pennsylvania, conducts business through its wholly owned subsidiaries First American Savings and Brandywine Savings Bank. First American operates 12 full-service offices in southeastern Pennsylvania. Brandywine Savings operates nine full- service branches in Chester County, Pa.
 /delval/
 -0- 7/27/92
 /CONTACT: Joseph F. Kubiak of Flagship Financial, 215-576-5900/
 (FLGF PNC) CO: Flagship Financial Corporation; PNC Financial Corp ST: Pennsylvania IN: FIN SU: DIV


JS-MK -- PH020 -- 3643 07/27/92 16:06 EDT
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Publication:PR Newswire
Date:Jul 27, 1992
Words:184
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