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LAFAYETTE BANK TO BUY EASTON-AREA BRANCHES FROM NORTHEASTERN BANK, A PNC BANK

 LAFAYETTE BANK TO BUY EASTON-AREA BRANCHES
 FROM NORTHEASTERN BANK, A PNC BANK
 EASTON, Pa., and SCRANTON, Pa., June 18 /PRNewswire/ -- Lafayette Bank of Easton, and Northeastern Bank, a PNC Bank headquartered in Scranton, today announced they have reached a definitive agreement for Lafayette to acquire three Easton-area offices of Northeastern.
 The offices to be acquired -- at 2201 Northampton St., 1700 Sullivan Trail in Laneco Plaza and 230 Line St. -- will bring Lafayette's total number of branches in Lehigh and Northampton counties to 16. Northeastern operates 50 community banking offices throughout northeastern Pennsylvania, including 17 in the Lehigh Valley.
 Financial terms of the agreement were not disclosed.
 The transaction is subject to approval by regulatory authorities and is expected to be completed by the third quarter of 1992.
 Richard J. Ashby Jr., Lafayette's president and CEO, said the acquisition of the three offices "will strengthen Lafayette's presence in Easton, and further demonstrates our commitment to the area."
 Ashby emphasized that no personnel changes are contemplated at the Northeastern offices as a result of the acquisition.
 Northeastern Bank is a PNC bank. PNC Financial Corp (NYSE: PNC), headquartered in Pittsburgh, is the nation's 14th-largest bank holding company, with assets of $43.8 billion. It operates approximately 500 community banking offices in Pennsylvania, Kentucky, Ohio, Indiana and Delaware and conducts business through additional offices in 16 states.
 PNC's principal banking affiliates include: Pittsburgh National Bank, Pittsburgh; Provident National Bank, Philadelphia; Citizens Fidelity Bank, Louisville, Ky.; Central Trust, Cincinnati; Bank of Delaware, Wilmington, Del.; Northeastern Bank, Scranton; Marine Bank, Erie, Pa.; PNC National Bank, Wilmington; Hershey Bank, Hershey, Pa.; and The First Bank and Trust Company, Mechanicsburg, Pa.
 Lafayette Bank is an affiliate of Fulton Financial Corp., a $2 billion Lancaster-based bank holding company. Fulton has five other banking affiliates in Pennsylvania: Fulton Bank, Lancaster; Farmers Trust Bank, Lebanon; Swineford National Bank, Middleburg; First National Bank, Danville; and Great Valley Savings Bank, Reading.
 /delval/
 -0- 6/18/92
 /CONTACT: Joy C. Westdorp of Northeastern Bank, 717-961-7082/ CO: Lafayette Bank; Northeastern Bank; PNC Financial Corp; Fulton
 Financial Corp. ST: Pennsylvania IN: FIN SU: TNM


CC -- PH030 -- 1623 06/18/92 16:01 EDT
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Publication:PR Newswire
Date:Jun 18, 1992
Words:358
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