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PNC BANK BECOMES FEDERAL HOME LOAN BANK OF PITTSBURGH STOCKHOLDER, LARGEST SYSTEM MEMBER

 PITTSBURGH, July 15 /PRNewswire/ -- James D. Roy, president of the Federal Home Loan Bank of Pittsburgh, announced today that PNC Bank, National Association (NYSE: PNC) has become a stockholder of the bank.
 PNC Bank is the lead-bank subsidiary of Pittsburgh-based PNC Bank Corporation, the 11th-largest bank holding company in the country. In becoming a stockholder of the Pittsburgh Home Loan Bank, PNC Bank becomes the largest individual member institution in the 12-bank Federal Home Loan Bank System.
 "PNC Bank is a top-notch commercial bank -- clearly among the best in the country. We couldn't be more pleased to welcome them to the benefits of Federal Home Loan Bank membership," said Roy. The Federal Home Loan Bank System has been successful in attracting commercial bank stockholders. Roy continued, "Nationwide, more than 40 percent of our nearly 4,000 stockholders are commercial banks, and the number of commercial bank stockholders continues to grow steadily. Although the bank serves a large number of smaller, community banks, an ever-growing group of larger, regional banks are recognizing the benefits of our services."
 Joe R. Irwin, executive vice president and chief investment officer at PNC Bank Corp. said, "We have been considering Federal Home Loan Bank membership for some time." He continued, "The access to funds at triple-A rates will be an important alternative to our overall approach to asset/liability management."
 PNC has one of the largest percentages of mortgage-related assets of any bank in the country. "Like other members of the Federal Home Loan Bank," said Roy, "PNC Bank is extremely committed to funding housing and has an outstanding record in community investment."
 PNC Bank had assets of $30.7 billion as or March 31, 1993. Its portfolio of residential mortgages and mortgage-related assets totaled $13.7 billion or approximately 45 percent of total assets. PNC Bank serves communities across Pennsylvania through nearly 300 branch offices.
 The Federal Home Loan Bank of Pittsburgh is part of the Federal Home Loan Bank System, a national wholesale banking network of 12 regional, stockholder-owned banks. The bank's economical funding, operating and advisory services are available to commercial banks, savings institutions, insurance companies and credit unions. The Pittsburgh bank serves financial institution customers in Delaware, Pennsylvania and West Virginia. The bank had assets of more than $10 billion at June 30, 1993.
 /delval/
 -0- 7/15/93
 /CONTACT: Rosemary A. Abendroth of Federal Home Loan Bank, 412-288-2830; or Jonathan Williams of PNC Bank, 412-762-4550/
 (PNC)


CO: Federal Home Loan Bank of Pittsburgh; PNC Bank, National
 Association ST: Pennsylvania IN: FIN SU:


CD-JM -- PG003 -- 1813 07/15/93 09:37 EDT
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Publication:PR Newswire
Date:Jul 15, 1993
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