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LANDMARK ANNOUNCES SALE OF BUTLER AREA OFFICES TO CITIZENS NATIONAL BANK

 LANDMARK ANNOUNCES SALE OF BUTLER AREA OFFICES
 TO CITIZENS NATIONAL BANK
 BUTLER COUNTY, Pa., March 16 /PRNewswire/ -- Landmark Savings Association (AMEX: LSA) and Citizens National Bank have jointly announced the signing of an agreement whereby Citizens National Bank will acquire selected Landmark offices and deposits in Butler County.
 The announcement was made by J. Richard Eshleman, president and chief executive officer of Landmark Savings Association and S.J. Irvine III, chairman and chief executive officer of Citizens National Bank. The sale is subject to regulatory approval and is expected to be completed within the next few months.
 Under terms of the agreement, Citizens National Bank will assume savings and checking deposits totaling approximately $70 million in addition to loans secured by deposits at Landmark's Alameda, Clearview and Cranberry offices. Citizens will retain Landmark's Clearview Mall facility located at 1521 N. Main Steet Extension and the Alameda facility located at 256 New Castle Road. The deposits at Landmark's Cranberry office will be transferred to the nearby Citizens National Bank location. Landmark will continue to service consumer and mortgage loans at their Butler office located on Main Street in downtown Butler.
 All Landmark employees at the Alameda, Clearview and Cranberry offices will become employees of Citizens National Bank. Customers will receive the same rates and terms for certificates of deposit. There will be no interruption of service for checking and savings account customers.
 Under federal regulations, no one financial institution may dominate a market area. Approximately $60 million in deposits in Butler is required to be divested before the acquisition of Landmark by Integra Financial Corporation (NASDAQ: ITGR) can be approved. "The purpose of the regulation is to ensure healthy competition, and we certainly support that," said Eshleman. "We're leaving the offices in very capable hands."
 According to Irvine, "The acquisition of Landmark's Butler County offices and deposits will further the bank's strategic service goals while achieving operating economics." He adds, "Expanding Citizens' Butler County branch network will offer greater convenience to the bank's present customers as well as Landmark customers of the Alameda, Clearview Mall and Cranberry Township offices."
 Citizens National Bank is a Butler County-headquartered bank that has been serving the financial needs of its local communities since 1878. Operating 10 locations throughout Butler, northern Allegheny and western Armstrong counties, Citizens National Bank controls $182 million in assets. Citizens National Bank is recognized as one of the safest banks in the nation by VERIBANC, an independent bank rating agency.
 Landmark Savings Association, doing business as Landmark PaSA, is a state-chartered, publicly owned savings association with assets of approximately $1.4 billion. It is the second largest independent stock thrift institution in Pennsylvania. Landmark common stock is listed on the American Stock Exchange (AMEX), trades under the symbol "LSA" and is reported in the financial press as "LdmkSv."
 /delval/
 -0- 3/16/92
 /CONTACT: Betsy Fitzpatrick of Landmark Savings, 412-553-7709, or Deborah Hanna of Citizens National, 412-538-3410/
 (LSA ITGR) CO: Landmark Savings Association; Citizens National Bank ST: Pennsylvania IN: FIN SU: TNM


CD-JT -- PG001 -- 8139 03/16/92 09:02 EST
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Publication:PR Newswire
Date:Mar 16, 1992
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