In Brief

Pa.'s First WesternTo Buy Mellon Branch

NEW CASTLE, Pa.-First Western Bancorp plans to buy a branch that Mellon Bank Corp. no longer wants.

The $1.7 billion-asset banking company has agreed to buy the building, deposits, and loans of Mellon's Chicora, Pa., branch.

The deal would give First Western about $43 million of deposits.

First Western has also agreed to hire the 10 Mellon branch employees.

Terms of the deal, which is expected to close in the third quarter, were not disclosed.

Stephen R. Sant, First Western's executive vice president, said buying the branch would expand its presence in the Butler area of western Pennsylvania. First Western has 41 branches in seven Pennsylvania counties and two Ohio counties. Fall Hurts D.C. BankerAfter Holyfield Fight

WASHINGTON-Holyfield-Tyson II wasn't the only freakish event to take place in Las Vegas last month.

Robert Pincus, chief executive officer of Franklin National Bank, Washington, suffered broken bones when he fell through a broken sidewalk grating on a Las Vegas street.

The accident took place after Mr. Pincus watched the heavyweight title fight that was stopped after Mike Tyson bit the ears of the heavyweight champion Evander Holyfield.

Bank officials said Mr. Pincus was expected to return to Washington this week after a stay in a Las Vegas hospital.

"The good news is he's going to be O.K.," said Albert D'Alessandro, the bank's executive vice president.

Mr. Pincus had won the Entrepreneur of the Year award for metropolitan Washington just days before his accident. Investor Hits Pa. ThriftFor 'Horrible' Results

PHILADELPHIA-Thrift investor Jerome H. Davis is at it again.

The activist investor has written a letter to a Pennsylvania thrift saying its performance from March 1996 to March 1997 has been "beyond horrible."

Mr. Davis, who owns a 9.03% stake in $120 million-asset Pennsylvania Savings Bank, is the thrift's largest shareholder.

In his letter to its board, Mr. Davis spelled out what he thinks should be done to improve its numbers, specifically a return on equity below 6%.

He suggested at least a 50% cut in compensation for management and a conversion from a mutual holding company to a stock company.

He also wants Pennsylvania Savings to pay larger regular and special dividends.

Pennsylvania Savings officials could not be reached for comment.