First National, Promistar to merge
HERMITAGE, Pa. -- First National Bank of Pennsylvania and Promistar Bank have received final regulatory approval for their merger. It is scheduled to close Jan. 18.
The bank will be based in First National's headquarters in Hermitage, but it said it would maintain a transaction processing center and an office for automobile financing in Johnstown, Pa., where Promistar is based.
Fewer than 200 jobs will be eliminated in Johnstown. Other employees were allowed to transfer to other positions within the two banks.
Those employees whose positions are being cut will be notified during meetings this week. Those employees will be offered severance benefits equal to one to two weeks pay for each year of service.
Once the merger is completed, all Promistar offices will become First National branches.