Park National Corporation and First Federal Bancorp, Inc. Close Merger Transactions

Park National Corporation and First Federal Bancorp, Inc. Close
Merger Transactions 


NEWARK, Ohio, Dec. 31  /PRNewswire-FirstCall/ -- Park National Corporation
(AMEX:PRK) (Park) and First Federal Bancorp, Inc. (NASDAQ:FFBZ) (First Federal)
officially closed today on their merger plan and agreement. As a result, First
Federal's banking subsidiary, First Federal Savings Bank of Eastern Ohio
(FFSB), has merged with Park affiliate bank Century National Bank (Century),
effective as of the close of business today. FFSB will change its name to
Century National Bank. Both banks are headquartered in Zanesville, Ohio (in
Muskingum County).

In a joint statement, Park President C. Daniel DeLawder, First Federal
President J. William Plummer and Century President Thomas M. Lyall said, "We
are very pleased to finalize this union. Our associates have worked diligently
to ensure the mergers are conducted prudently, promptly, and most beneficially
for our associates and customers. We are very happy about the enhanced services
our customers will experience, including extra convenience, broader service
menus, and even more skilled and trustworthy local bankers to rely upon. We
congratulate everyone whose excellent work contributed to this effort, and we
look forward to the future as one strong and devoted community bank."

After the transition, Century holds about $750 million in assets and operates
17 banking offices and 17 ATMs in Southeastern Ohio. Through all of its
affiliates, Park now operates 125 banking offices, and 121 no-fee ATMs in 27
Ohio counties.

About Park National Corporation:

Headquartered in Newark, Ohio, Park National Corporation is an Ohio-based bank
holding company with approximately $5.1 billion in assets (as of September 30,
2004). Its significant subsidiaries include The Park National Bank, Fairfield
National Division, The Richland Trust Company, Century National Bank, The
First-Knox National Bank of Mount Vernon, Farmers and Savings Division, United
Bank, N.A., Second National Bank, The Security National Bank and Trust Co.,
Unity National Division, The Citizens National Bank of Urbana, Scope Aircraft
Finance, and Guardian Finance. For more information, visit
http://www.parknationalcorp.com/.

   Media contacts:
   Bethany White, Park Comm. Specialist 740-349-3754
   C. Daniel DeLawder, Park President, 740-349-3746
   J. Bill Plummer, First Federal President, 740-588-2263
   Thomas M. Lyall, Century President, 740-455-7219


DATASOURCE: Park National Corporation; First Federal Bancorp, Inc.



CONTACT:  Bethany White, Park Comm. Specialist, [phone], C.

Daniel DeLawder, Park President, [phone], J. Bill Plummer, First

Federal President, [phone] or Thomas M. Lyall, Century President,

[phone]



Web site:  http://www.parknationalcorp.com/ 

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