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OMEGA FINANCIAL ANNOUNCES INCREASED DIVIDEND

 STATE COLLEGE, Pa., Dec. 7 /PRNewswire/ -- State College-based Omega Financial Corporation (NASDAQ: OMEF) today increased its fourth quarter dividend to $.16 per common share.
 The bank holding company, which operates The Russell National Bank headquartered in Lewistown, Pa., and the Peoples National Bank of Central Pennsylvania, headquartered in State College, paid $.15 per common share in the previous two quarters and $.13 in the first quarter of 1993.
 The $.16 dividend brings total 1993 dividends per common share of Omega stock to $.59 as compared to $.50 a year earlier.
 The dividend is payable to shareholders of record at Dec. 16, 1993, and will be paid on Dec. 31. The ex-dividend date is set for Dec. 10. On Sept. 30, 1993, Omega had common shares outstanding of 3,428,067.
 Omega Chairman and Chief Executive Officer David B. Lee said that Omega has increased its total annual dividend each year since 1988. Lee said, "We've been working on paying a solid dividend based on strong earnings. We believe that bank stocks like Omega can be good investments both for income and potential appreciation."
 In August, Omega, with offices in Centre, Clinton, Juniata and Mifflin counties, announced plans to merge with Penn Central Bancorp, which operates offices in Bedford, Blair and Huntingdon counties.
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 /CONTACT: Robert A. Frederick, director of public relations of Omega Financial, 814-231-5773/
 (OMEF)


CO: Omega Financial Corporation; Penn Central Bancorp ST: Pennsylvania IN: FIN SU: DIV

CD-MP -- PG010 -- 1332 12/07/93 13:51 EST
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Publication:PR Newswire
Date:Dec 7, 1993
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