In Brief: Pa. Bank to Buy Mellon Branches, Deposits

First National Bank of Pennsylvania, a subsidiary of FNB Corp., has a deal to buy three branches and $61 million of deposits from Mellon Bank in and near New Castle, Pa.

First National, which is based in Hermitage, Pa., is acquiring all of Mellon's presence in Lawrence County, Pa., including one supermarket branch. The Pittsburgh giant would retain the loans it made from those branches, however.

"Our current customers will benefit from the added branch locations, as well as the convenience of a seven-day-a-week, in-store bank," said Stephen J. Gurgovits, president and chief executive officer of $1.2 billion-asset First National.

The deal is to close in the fourth quarter.

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