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MOUNTAINEER BANKSHARES OF W.VA., INC. ANNOUNCES COMPLETION OF MERGER

 MARTINSBURG, W.Va., Feb. 4 /PRNewswire/ -- Mountaineer Bankshares of W.Va., Inc. (NASDAQ: MTNR) announced today the completion of the merger with Sunrise Bancorp, Inc. and its principal subsidiary, The Sunshine Bank of Wheeling.
 The merger, which was announced Aug. 31, 1992, was completed and became effective Jan. 29, 1993.
 The business combination was accounted for as a pooling of interest with 2.5 shares of Mountaineer stock issued for each share of Sunrise stock. This resulted in a total of 300,000 shares of Mountaineer being issued.
 Combined assets of Mountaineer and Sunrise totaled approximately $720 million following the merger with combined equity in excess of $60 million.
 Mountaineer Bankshares is the holding company of seven West Virginia banks including Old National Bank, Martinsburg; The Empire National Bank of Clarksburg; City National Bank of Fairmont; The Bank of Wadestown, Fairview; Mercantile Banking & Trust Company, Moundsville; The First National Bank of Cameron; and The Sunshine Bank of Wheeling.
 -0- 2/4/93
 /CONTACT: Brent D. Robinson, president of Mountaineer Bankshares, 304-263-0861, ext. 193/
 (MTNR)


CO: Mountaineer Bankshares of W.Va., Inc.; Sunrise Bancorp ST: West Virginia IN: FIN SU: TNM

CD-MS -- PG003 -- 2828 02/04/93 09:34 EST
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Publication:PR Newswire
Date:Feb 4, 1993
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