Published Thursday, May 2, 2002
HERMITAGE
Somerset drops out of bank dealFirst National Bank of Pennsylvania said Wednesday it will allow Somerset Trust Co. to withdraw from a deal to buy two western Pennsylvania bank branches.
No reason was given for why Somerset no longer wants the branches.
The initial sale was announced in January and was to be completed by the third quarter. The branches, located in Schellsburg and Manns Choice, have combined deposits of $23.6 million. The offices were part of Promistar, which First National acquired earlier this year.
The sale for the branches was negotiated with Johnstown-based Promistar Bank prior to its merger with First National.
First National plans to retain the Schellsburg office and operate it under the First National name while the Manns Choice office will be consolidated with a nearby First National branch in Bradford.
Headquartered in Hermitage, First National has 120 offices serving 18 counties throughout the western half of the state. First National is owned by FNB Corp., Naples, Fla.