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PNC'S CITIZENS FIDELITY BANK TO ACQUIRE COWGER & MILLER MORTGAGE SERVICING PORTFOLIO

 PNC'S CITIZENS FIDELITY BANK TO ACQUIRE
 COWGER & MILLER MORTGAGE SERVICING PORTFOLIO
 PITTSBURGH, Jan. 9 /PRNewswire/ -- PNC Financial Corp (NYSE: PNC) today announced that its Citizens Fidelity Bank of Louisville, Ky., has entered into a letter of intent to purchase the mortgage servicing portfolio of Cowger & Miller Mortgage Company, Inc., also of Louisville, from First Atlantic Federal Savings Association, in receivership.
 The Resolution Trust Corporation (RTC) is the receiver for First Atlantic.
 The transaction is subject to execution of a definitive agreement. Closing is expected by April 30.
 The mortgage servicing staff of Cowger & Miller will become transitional employees of Citizens Fidelity upon the closing of the transaction. Upon execution of a definitive agreement, Citizens Fidelity intends to discuss possibilities for regular employment with the mortgage servicing staff of Cowger & Miller.
 PNC Financial Corp, headquartered in Pittsburgh, is the nation's 16th-largest bank holding company, with assets of $42.3 billion. It operates approximately 500 community banking offices in Pennsylvania, Kentucky, Ohio, Indiana, Delaware and New Jersey and conducts business through additional offices in 15 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, Pa.; Marine Bank, Erie, Pa.; PNC National Bank, Wilmington, Del.; PNC National Bank of New Jersey, Cherry Hill, N.J.; Hershey Bank, Hershey, Pa.; and The First Bank and Trust Company, Mechanicsburg, Pa.
 /delval/
 -0- 1/9/92
 /CONTACT: Jonathan Williams, media, 412-762-4550, or home at 412-359-0979, or Sheila S. Fischl, investors, 412-762-8257, both of PNC Financial/
 (PNC) CO: PNC Financial Corp; Citizens Fidelity Bank; Cowger & Miller
 Mortgage Company, Inc.; First Atlantic Federal Savings
 Association ST: Kentucky IN: FIN SU:


DM -- PG004 -- 8416 01/09/92 17:08 EST
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Publication:PR Newswire
Date:Jan 9, 1992
Words:292
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