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KEYSTONE FINANCIAL INCREASES CASH DIVIDEND

 HARRISBURG, Pa., Nov. 19 /PRNewswire/ -- The board of directors of Keystone Financial, Inc. (NASDAQ-NMS: KSTN), the ninth largest bank holding company in Pennsylvania, has declared an increased quarterly cash dividend of 32 cents per share, payable Jan. 20, 1994, to shareholders of record on Jan. 12, 1994. This is a 10 percent increase over the 29 cents per share paid quarterly in 1993. The cash dividend has been raised annually since Keystone was formed in 1984.
 "We believe in maintaining a strong cash dividend as an important component of return to our shareholders," Carl L. Campbell, president and chief executive officer, said. "The increased dividend reflects our record earnings performance through the first nine months of 1993, and our optimism about Keystone's future," he said.
 Keystone currently has four member banks -- Pennsylvania National Bank, Pottsville; Northern Central Bank, Williamsport; Mid-State Bank, Altoona; and National Bank of the Main Line, Wayne -- which together operate 92 community offices in 23 Pennsylvania counties. The company has previously announced the acquisitions of Elmwood Federal Savings Bank, Media, and WM Bancorp, Cumberland, Md. The acquisitions are scheduled for completion in the first quarter of 1994.
 -0- 11/19/93
 /CONTACT: Mark L. Pulaski of Keystone Financial, 717-231-5702/
 (KSTN)


CO: Keystone Financial, Inc. ST: Pennsylvania IN: FIN SU: DIV

TW -- NY064 -- 6610 11/19/93 14:53 EST
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Publication:PR Newswire
Date:Nov 19, 1993
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