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PNC BOARD APPROVES CCNB ACQUISITION

 PNC BOARD APPROVES CCNB ACQUISITION
 PITTSBURGH, Dec. 19 /PRNewswire/ -- The board of directors of PNC


Financial Corp (NYSE: PNC) today approved the previously disclosed definitive agreement for PNC to acquire CCNB Corporation (NASDAQ: CCNC) of Camp Hill, Pa.
 Under terms of the agreement, each outstanding share of CCNB stock will be exchanged for .66 shares of PNC common stock. CCNB has 5,923,842 shares outstanding. The transaction is subject to approval by various regulatory agencies, CCNB shareholders and completion of a due diligence review of CCNB by PNC.
 CCNB Corporation, with assets of approximately $1.2 billion on Sept. 30, 1991, includes CCNB Bank, N.A., The Gettysburg National Bank and Parent Federal Savings Bank, and operates 42 branch offices throughout south central Pennsylvania's Adams, Cumberland, Dauphin, Lancaster, Perry and York counties.
 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.
 -0- 12/19/91
 /CONTACT: Jonathan Williams, media, 412-762-4550, or home at 412-359-0979; or Sheila S. Fischl, 412-762-8257, both of PNC/
 (PNC) CO: PNC Financial Corp; CCNB Corporation ST: Pennsylvania IN: FIN SU: TNM


PT -- PG008 -- 4036 12/19/91 15:33 EST
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Publication:PR Newswire
Date:Dec 19, 1991
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