Conestoga Bancorp, Inc. Announces Closing of Merger with PSB Bancorp, Inc.

CHESTER SPRINGS, Pa., April 2  /PRNewswire-FirstCall/ -- Conestoga Bancorp, Inc., the holding company for Conestoga Bank, announced today that it has completed its acquisition of PSB Bancorp, Inc. (NASDAQ:PSBI), the holding company for First Penn Bank.  Shares of PSB Bancorp common stock have ceased trading on the NASDAQ Global Market, and the former shareholders of PSB Bancorp are entitled to receive a price per share of $16.72 in cash as a result of the transaction.  Registrar and Transfer Company will be contacting each former shareholder of PSB Bancorp regarding the procedures to be followed in order to receive the merger consideration.

Conestoga is a private bank holding company that owns all the capital stock of Conestoga Bank and First Penn Bank.  Following completion of the acquisition of PSB, Conestoga has total assets in excess of $600 million and operates 14 branches in the greater Philadelphia area. 

DATASOURCE: Conestoga Bancorp, Inc.



CONTACT:  Richard A. Elko, President and Chief Executive Officer, of

Conestoga Bancorp, Inc., [phone]



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

Copyright