Pittsburgh Financial Corp. Announces Stock Repurchase

Apr 02, 2001, 01:00 ET from Pittsburgh Financial Corp.

    PITTSBURGH, April 2 /PRNewswire/ --
     Pittsburgh Financial Corp. (Nasdaq:   PHFC) (the "Company") the holding
 company for BankPittsburgh, announced today that the Company's Board of
 Directors authorized the repurchase of up to 80,632 shares, or approximately
 5% of the Company's outstanding common stock.
     Repurchases are authorized to be made by the Company from time to time in
 open-market transactions as, in the opinion of management, market conditions
 warrant.  The repurchased shares will be held as treasury stock and will be
 available for general corporate purposes.
     J. Ardie Dillen, Chairman, President and Chief Executive Officer stated
 "The repurchase program reflects management and the Board's belief that the
 current trading price of our stock does not adequately reflect the Company's
 value related to its long-term business strategy and earnings potential."
     Pittsburgh Financial Corp. is a unitary bank holding company headquartered
 near Pittsburgh in Wexford, Pennsylvania.  Its subsidiary, BankPittsburgh,
 operates nine banking offices and two loan centers in Allegheny and Butler
 counties.  At December 31, 2000 Pittsburgh Financial Corp. had total assets of
 $440.2 million, total deposits of $206.8 million and stockholders' equity of
 $22.6 million.
 
 

SOURCE Pittsburgh Financial Corp.
    PITTSBURGH, April 2 /PRNewswire/ --
     Pittsburgh Financial Corp. (Nasdaq:   PHFC) (the "Company") the holding
 company for BankPittsburgh, announced today that the Company's Board of
 Directors authorized the repurchase of up to 80,632 shares, or approximately
 5% of the Company's outstanding common stock.
     Repurchases are authorized to be made by the Company from time to time in
 open-market transactions as, in the opinion of management, market conditions
 warrant.  The repurchased shares will be held as treasury stock and will be
 available for general corporate purposes.
     J. Ardie Dillen, Chairman, President and Chief Executive Officer stated
 "The repurchase program reflects management and the Board's belief that the
 current trading price of our stock does not adequately reflect the Company's
 value related to its long-term business strategy and earnings potential."
     Pittsburgh Financial Corp. is a unitary bank holding company headquartered
 near Pittsburgh in Wexford, Pennsylvania.  Its subsidiary, BankPittsburgh,
 operates nine banking offices and two loan centers in Allegheny and Butler
 counties.  At December 31, 2000 Pittsburgh Financial Corp. had total assets of
 $440.2 million, total deposits of $206.8 million and stockholders' equity of
 $22.6 million.
 
 SOURCE  Pittsburgh Financial Corp.