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PNC's PROVIDENT NATIONAL BANK TO SELL FOUR BRANCHES TO HARLEYSVILLE NATIONAL BANK AND TRUST COMPANY

 PNC's PROVIDENT NATIONAL BANK TO SELL FOUR BRANCHES
 TO HARLEYSVILLE NATIONAL BANK AND TRUST COMPANY
 PITTSBURGH, Jan. 2 /PRNewswire/ -- PNC Financial Corp (NYSE: PNC) and Harleysville National Corp. (NASDAQ: HNBC) jointly announced today that their respective subsidiaries have reached a definitive agreement for Harleysville National Bank and Trust Co. of Harleysville, Pa., to acquire four branches of PNC's Provident National Bank of Philadelphia, Pa.
 The branches to be acquired by Harleysville National Bank are located in Collegeville at 346 Main St., Sellersville at 209 Main St., and at two sites in Quakertown, 224-228 W. Broad St., and Trainer's Corner Shopping Center, Routes 663 and 309.
 Pending review and approval by various government agencies, the transaction is expected to be completed before mid-1992.
 "We are extremely excited about this opportunity," said Walter E. Daller Jr., president and chief executive officer of Harleysville National Bank. "These are established and well-run offices. They are in new communities for us, but are a natural extension of our market area. We have been anxious to get into Bucks County for some time and are happy about this major entree into the Collegeville and Trappe market. Provident has done a fine job with these locations, and we hope to continue and even expand on that record."
 "PNC's long-term strategy for Provident is to strengthen our presence in the Delaware Valley market," said Richard L. Smoot, president and chief executive officer of PNC's Provident National Bank. "This will allow Provident to devote more resources to other trade areas where we have a stronger presence and are better positioned for long-term growth."
 The purchase of the four branches will extend Harleysville National's reach into Bucks County with three new locations and expand to 12, with the Collegeville addition, its locations in Montgomery County. Most personnel will become employees of Harleysville National Bank. In addition, Harleysville National will be welcoming approximately 10,000 new customers, representing approximately $105 million in deposits. The core deposits and new customer base constitute the primary reasons for Harleysville National's entering the agreement.
 "Our branches in Collegeville, Sellersville and Quakertown have exemplified high standards of quality and customer service, and the contributions these employees have made to our past success are greatly appreciated," said Smoot. "Harleysville National is a strong, well-managed organization, and has been a good competitor. We believe that both the employees and customers of these branches will be well served through their affiliation with Harleysville National."
 Harleysville National Corporation is the parent of Harleysville National Bank and Trust Company, which has $440 million in assets and 11 locations throughout Montgomery County, and Citizens National Bank of Lansford, which has $35 million in assets, located in Carbon County.
 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- 01/02/92
 /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 Corporation; or Linda S. Wolohan, media, 215-585-5453, or Walter E. Daller Jr., investors, 215-256-8851/
 (PNC HNBC) CO: PNC Financial Corporation; Provident National Bank ST: Pennsylvania IN: FIN SU: PER


CD -- PG009 -- 6254 01/02/92 16:05 EST
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Publication:PR Newswire
Date:Jan 2, 1992
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