County Trust Co. of Kittanning, Pa., for about $12 million. Under the agreement, Armstrong will merge with BT's largest subsidiary, Johnstown Bank and Trust Co. Shareholders of Armstrong will receive cash and 26.5 shares of BT common stock. The deal, which is still subject to shareholder and regulatory approval, is expected to be completed by March 31, 1996. The transaction will add one branch and $48.5 million in assets to BT's current $1.1 billion in assets. The Johnstown company is also buying Huntington National Bank of Pennsylvania and will have $1.26 billion after both deals are completed. BT is the parent company of Johnstown Bank, Fayette Bank, and Laurel Bank, serving 11 counties in southwestern Pennsylvania. The company also has a trust company and a real estate subsidiary.
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