Ohio's Sky Financial Group Inc. said Monday that it would buy Mahoning National Bancorp of Youngstown, Ohio, for $307 million of stock.

The deal, valued at 3.2 times Mahoning's book value and 20 times its estimated 1999 earnings, is the third announced by Bowling Green-based Sky Financial in the past seven months. It would strengthen the $4.7 billion- asset company's presence along the Pennsylvania border, giving it the top commercial-bank market share in Mahoning County.

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