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PNC COMPLETES ACQUISITION OF PRO GROUP, INC.; PRODUCERS BANK MERGED INTO PNC'S MARINE BANK

 PNC COMPLETES ACQUISITION OF PRO GROUP, INC.;
 PRODUCERS BANK MERGED INTO PNC'S MARINE BANK
 PITTSBURGH, Jan. 13 /PRNewswire/ -- PNC Financial Corp (NYSE: PNC) today announced that it has completed the acquisition of Pro Group, Inc., of Bradford, Pa.
 As a result of the acquisition, Pro Group's Producers Bank, with assets of $68 million at year-end and four offices in McKean County, Pa., has been merged into PNC's Marine Bank, effective today.
 As previously disclosed, each share of Pro Group, Inc. common stock was exchanged for three shares of PNC common stock. Pro Group had 49,318 common shares outstanding.
 PNC Financial Corp, headquartered in Pittsburgh, is the nation's 15th-largest bank holding company, with assets of $44.9 billion. It operates approximately 500 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, Ohio; Bank of Delaware, Wilmington, Del.; Northeastern Bank, Scranton, Pa.; Marine Bank, Erie, Pa.; PNC National Bank, Wilmington, Del.; Hershey Bank, Hershey, Pa.; and The First Bank and Trust Company, Mechanicsburg, Pa.
 /delval/
 -0- 1/13/92
 /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 Corp; or Darcel H. Stebner, media, 814-871-9562, of Marine Bank/
 (PNC) CO: PNC Financial Corp; Pro Group, Inc. ST: Pennsylvania IN: FIN SU: TNM


CD -- PG017 -- 9233 01/13/92 16:45 EST
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Publication:PR Newswire
Date:Jan 13, 1992
Words:251
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