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WILMINGTON TRUST TO ACQUIRE FREEDOM VALLEY BANK

 WILMINGTON, Del., March 19 /PRNewswire/ -- Wilmington Trust Corporation (NASDAQ: WILM) announced that a definitive agreement has been reached to purchase Freedom Valley Bank.
 Freedom Valley Bank, a community bank with over $110 million in assets, serves Delaware and Chester counties in Pennsylvania, with branches in Delchester, Lionville, Media and West Chester. The executive offices are located at Routes 3 and 352 in Delchester.
 Under the terms of the agreement, Wilmington Trust will pay $11.85 million in cash for Freedom Valley Bank's equity securities. This transaction is not anticipated to dilute Wilmington Trust's earnings. The agreement is subject to various conditions including approval by Freedom Valley Bank's shareholders and regulatory authorities.
 Wilmington Trust Chairman and CEO Leonard W. Quill stated, "We are delighted to expand our presence in neighboring Pennsylvania. This acquisition will allow us to provide our full range of services to the communities served by Freedom Valley Bank."
 Freedom Valley Bank Chairman William J. McCuen Jr. said, "Wilmington Trust is one of the finest regional banks in the country and has proven its commitment to customer service over many years as our neighbor in Wilmington."
 Wilmington Trust Company, principal subsidiary of Wilmington Trust Corporation, currently has 60 branches in Delaware, one branch in West Chester, Pa., and two trust offices in Florida. With $4.3 billion in assets, Wilmington Trust Company is the largest full-service, independent bank chartered in Delaware.
 /delval/
 -0- 3/19/93
 /CONTACT: Charles W. King of Wilmington Trust, 302-651-8069/
 (WILM)


CO: Wilmington Trust Corporation; Freedom Valley Bank ST: Delaware, Pennsylvania IN: FIN SU: TNM

LJ -- PH010 -- 7805 03/19/93 10:02 EST
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Publication:PR Newswire
Date:Mar 19, 1993
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