Printer Friendly

PNC ACQUISITION OF FLAGSHIP FINANCIAL RECEIVES REGULATORY APPROVAL

 PNC ACQUISITION OF FLAGSHIP FINANCIAL RECEIVES REGULATORY APPROVAL
 PITTSBURGH, Nov. 6 /PRNewswire/ -- PNC Financial Corp (NYSE: PNC) said today that its acquisition of Flagship Financial Corporation (NASDAQ-NMS: FLGF) has received all required regulatory approvals. The anticipated closing date for the transaction is Nov. 20.
 Flagship's two thrift subsidiaries, First American Savings, F.A., and Brandywine Savings Bank PaSA, are also scheduled to merge into PNC's Provident National Bank at the close of business Nov. 20.
 First American and Brandywine Savings operate 21 community offices in Philadelphia and the suburban counties of Chester, Montgomery and Bucks.
 The merger agreement calls for PNC to pay Flagship shareholders $13.05 cash per common share. There are approximately 3.5 million Flagship common shares outstanding.
 PNC Financial Corp, headquartered in Pittsburgh, is the nation's 13th-largest bank holding company, with assets of $46.6 billion. It operates approximately 550 community banking offices in Pennsylvania, Kentucky, Ohio, Indiana and Delaware and conducts business through additional offices in 16 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.; CCNB Bank, N.A., Camp Hill, Pa.; Hershey Bank, Hershey, Pa.; and The First Bank and Trust Company, Mechanicsburg, Pa.
 -0- 11/6/92
 /CONTACT: Jonathan Williams, media, 412-762-4550, or at home, 412-257-3257, or William H. Callihan, investors, 412-762-8257/
 (PNC FLGF) CO: PNC Financial Corp; Flagship Financial Corporation ST: Pennsylvania IN: FIN SU: TNM


CD -- PG002 -- 8116 11/06/92 10:41 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 6, 1992
Words:265
Previous Article:DIA MUSEUM SHOPS WELCOME JAN BARNEY NEWMAN, CREATOR OF ARISTOPLAY GAMES FOR FAMILIES
Next Article:ORBOTECH LTD., FORMERLY OPTROTECH LTD., ANNOUNCES CLOSE OF FTC INVESTIGATION
Topics:


Related Articles
PNC BOARD APPROVES CCNB ACQUISITION
FLAGSHIP FINANCIAL ANNOUNCES RECEIPT OF ACQUISITION PROPOSAL
PNC BOARD APPROVES FLAGSHIP FINANCIAL ACQUISITION
FLAGSHIP FINANCIAL ISSUES ANNOUNCEMENT
PNC, FIRST NATIONAL PENNSYLVANIA CORPORATION MERGER APPROVED
CCNB MERGER WITH PNC FINANCIAL RECEIVES REGULATORY APPROVAL
PNC COMPLETES ACQUISITION OF CCNB CORPORATION
PNC COMPLETES ACQUISITION OF FLAGSHIP FINANCIAL
PNC BANK TO ACQUIRE FIRST EASTERN CORP.
PNC BANK, OHIO, TO SELL DAYTON BRANCHES TO FIFTH THIRD BANCORP

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters