CVAL Chester Valley Bancorp (MM)

First Financial Bank to Acquire Avondale Branch From PNC Bank DOWNINGTOWN, Pa., Oct. 5 /PRNewswire-FirstCall/ -- First Financial Bank, a subsidiary of Chester Valley Bancorp Inc. (NASDAQ:CVAL) announced today that it has signed an agreement to buy the Avondale branch of PNC Bank, National Association, a member of The PNC Financial Services Group, Inc. (NYSE:PNC), for an undisclosed price. The branch is located on Route 41 in Avondale, Pennsylvania. Under the terms of the agreement, First Financial Bank will assume approximately $12.9 million in deposits from PNC Bank and acquire approximately $7.5 million of consumer and commercial business loans. The transaction, which is subject to regulatory approval, is expected to close in December 2004. "The new Avondale branch further expands our presence in Southern Chester County and provides the customers of First Financial Bank with the convenience of an even wider branch network," noted President and CEO Donna Coughey. "Southern Chester County is a vibrant, growing market and there is a demand for high quality commercial and personal banking services. As a bank well- known for its community orientation and commitment, we are the kind of neighbor this area wants and needs." The branch acquisition announcement quickly follows the Bank's announcement of its plans to build a new branch along Route 10 in Oxford in mid-2005. These two branches will bring the Bank's total to 14 locations. Chester Valley Bancorp Inc. is the parent company of both First Financial Bank and Philadelphia Corporation for Investment Services. First Financial Bank's executive offices are located in Downingtown, Pennsylvania with branches in Airport Village, Brandywine Square, Coatesville, Devon, Downingtown, Eagle, Exton, Frazer, Kennett Square, Thorndale, Westtown and West Chester. Philadelphia Corporation for Investment Services has offices located in Philadelphia and Wayne. DATASOURCE: First Financial Bank CONTACT: Donna M. Coughey, President and CEO, +1-610-269-9700, or Joseph T. Crowley, Treasurer & Chief Financial Officer, +1-610-269-9700, both of First Financial Bank Web site: http://www.ffbonline.com/

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