EXHIBIT 99.1

                                  NEWS RELEASE

                   CONTACT:  Patrick Scanlon, Senior Vice President, Controller
                             Penseco Financial Services Corporation
                             (570) 346-7741

                             Michael L. Jake, Chief Financial Officer
                             Old Forge Bank
                             (570) 457-8345

                             FOR RELEASE: 4:00 P.M. Eastern Time: March 6, 2009

       ELECTION DEADLINE FOR OLD FORGE BANK SHAREHOLDERS IS MARCH 18, 2009

SCRANTON AND OLD FORGE, PENNSYLVANIA. March 6, 2009 - Penseco Financial Services
Corporation (OTC Bulletin Board - PFNS), the Scranton, Pennsylvania based
financial holding company of Penn Security Bank & Trust Company, and Old Forge
Bank, a Pennsylvania state chartered bank, today reiterated that the election
deadline for Old Forge shareholders to make stock or cash elections in
connection with the proposed merger of Old Forge and Penn Security is 5 p.m.,
New York City time, on March 18, 2009.

Old Forge shareholders of record wishing to make an election regarding the form
of consideration they would prefer to receive must deliver to Registrar and
Transfer Company, the exchange agent in the merger, properly completed election
forms and letters of transmittal, together with Old Forge stock certificates or
properly completed notices of guaranteed delivery. These must be received by
Registrar and Transfer Company by the election deadline of 5 p.m., New York City
time, on March 18, 2009.

OLD FORGE SHAREHOLDERS WHO HOLD THEIR SHARES IN "STREET NAME" MAY HAVE AN
ELECTION DEADLINE EARLIER THAN MARCH 18, 2009. THEY SHOULD CAREFULLY REVIEW ANY
MATERIALS THEY RECEIVED FROM THEIR BROKER TO DETERMINE THE ELECTION DEADLINE
APPLICABLE TO THEM.

Election materials were previously mailed to Old Forge shareholders of record on
February 18, 2009. Old Forge shareholders may obtain additional copies of the
election materials by contacting Registrar and Transfer Company, at
1-800-368-5948. Old Forge shareholders who hold their shares in "street name"
may obtain additional copies of the election documents by contacting their
broker.

Shareholders who do not properly make an election by the election deadline will
be deemed to have no preference as to the form of merger consideration they will
receive, and will receive cash, shares of Penseco common stock or a combination
of cash and shares, depending on the elections of other Old Forge shareholders.
All elections are subject to the allocation, proration and other adjustment
procedures provided in the merger agreement. The completion of the merger
remains subject to the approval of the Old Forge shareholders, certain
regulatory approvals and the satisfaction of other customary conditions
contained in the merger agreement.

A proxy statement/prospectus dated February 10, 2009, relating to the proposed
merger and the March 19, 2009, special meeting of Old Forge shareholders to
consider and vote upon the proposed merger, was mailed to Old Forge shareholders
of record on or about February 13, 2009. The proxy statement/prospectus is part
of a registration statement filed by Penseco Financial Services Corporation with
the United States Securities and Exchange Commission (SEC). OLD FORGE
SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND OTHER RELEVANT
DOCUMENTS FILED WITH THE SEC BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Old
Forge shareholders are able to obtain the proxy statement/prospectus free of
charge at the SEC's website, http://www.sec.gov/. Old Forge shareholders may
also obtain a copy of the proxy statement/prospectus by contacting Registrar and
Transfer Company at 1-800-368-5948. In addition, documents filed with the SEC by
Penseco Financial Services Corporation will be available free of charge by
written request to Mr. Patrick Scanlon, Penn Security Bank & Trust Company, 150
North Washington Avenue, Scranton, Pennsylvania, 18503 or oral request to Mr.
Scanlon at 570.346.7741, extension 2316.

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