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Saturday, January 29, 2000 Page: 7A
Federal and state regulatory agencies have given approval to the merger of
Lake Ariel Bancorp with NBT Bancorp Inc. of Norwich, N.Y.
Shareholders of both banks will vote Feb. 17 on the proposed merger.
The Lake Ariel Bancorp shareholders meeting will be held at 10 a.m. at the
Holiday Inn in Dunmore. The NBT Bancorp shareholders meeting will be held at 2
p.m. at the Howard Johnson in Norwich. Shares of both companies stock trade on
the Nasdaq National Market.
Lake Ariel Bancorp is the parent company of LA Bank. NBT Bancorp is the
parent company of NBT Bank.
NBT Bank has received merger approvals from the Board of Governors of the
Federal Reserve System and the Pennsylvania Department of Banking.
In addition, the Securities and Exchange Commission has issued an order of
effectiveness to the registration statement of NBT covering shares of NBT
stock to be issued to Lake Ariel shareholders.
NBT Bancorp also has signed a merger agreement with Pioneer American
Holding Company Corp., parent of Pioneer American Bank. Votes on that merger
will be held this spring.
NBT plans to merge the Lake Ariel and Pioneer American bank systems to
create the largest community bank headquartered in Northeastern Pennsylvania.