MONROEVILLE, Pa. - Parkvale Financial Corp., the $1.4 billion-asset parent of Parkvale Bank, has agreed to acquire the Second National Bank of Masontown for approximately $36.8 million.

Second National, which has $196 million of assets and five branches in Fayette County, Pa., would expand Parkvale's reach into southwestern Pennsylvania, where it has 33 branches.

The sale price is equal to $92 per share, or about 1.5 times book value. The deal is scheduled to close in the first quarter of 2002.

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