EXHIBIT 99
SUSQUEHANNA BANCSHARES, INC.
P.O. BOX 1000
26 NORTH CEDAR STREET
LITITZ, PA 17543-1000
SUSQUEHANNA BANCSHARES, INC.
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ANNOUNCES EXECUTIVE ELECTIONS
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FOR IMMEDIATE RELEASE: LITITZ, PA, June 15, 2001: Susquehanna Bancshares,
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Inc., (Susquehanna) (Nasdaq: SUSQ - news) announced today that at the Annual
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Shareholders Meeting held on May 25, 2001, William J. Reuter, President, was
elected to succeed the retiring Robert S. Bolinger as Susquehanna's President
and Chief Executive Officer. Reuter has served as Susquehanna's President since
January 2000.
In separate actions, Susquehanna's Board also confirmed by election the March
appointment of Gregory A. Duncan as Executive Vice President and Chief
Operating Officer and further elected Drew K. Hostetter to the newly created
position of Executive Vice President and Chief Financial Officer. Reuter,
Duncan and Hostetter will continue to serve as Susquehanna's Executive
Committee.
Reuter was Chairman, President and CEO of Farmers & Merchants Bank and Trust
Company, Hagerstown, Maryland, when Susquehanna acquired it from Equitable Bank,
Baltimore, Maryland, in 1989. In 1997, he also assumed the positions of
Chairman and President of Susquehanna Bank, Baltimore, Maryland. He was
promoted to President of Susquehanna Bancshares, Inc., the parent holding
company, seventeen months ago.
Duncan was President and CEO of Citizens National Bank of Southern Pennsylvania
from 1992 to 1999. He was promoted to Senior Vice President of Susquehanna
Bancshares, Inc. in 1998 and then in 2000 he was promoted to Executive Vice
President of Susquehanna Bancshares, Inc. Prior to joining Susquehanna's
family, he served as an officer of Mellon Bank with assignments in Pittsburgh,
Philadelphia and Denver.
Hostetter was Senior Vice President and Corporate Controller of MNC Financial
from 1992 to 1994. In 1995, he joined Susquehanna Bancshares, Inc., as Assistant
Treasurer, was promoted to Treasurer in 1996 and to Vice President, Treasurer &
Chief Financial Officer in 1998. Last year, he was again promoted and assumed
duties as Senior Vice President, Treasurer and Chief Financial Officer in 2000.
Susquehanna Bancshares, Inc. is a multi-state financial services holding
company composed of eight banks, one savings bank, two leasing companies, a
credit life reinsurance company, a trust and investment company, and an asset
management company with combined assets of approximately $4.8 billion.
Susquehanna provides financial services through its subsidiaries - Citizens
National Bank of Southern Pennsylvania, Greencastle, Pa.; Farmers & Merchants
Bank and Trust, Hagerstown, Md.; Farmers First Bank, Lititz, Pa.; First National
Trust Bank, Sunbury, Pa.; Williamsport National Bank, Williamsport, Pa.; First
American National Bank of Pennsylvania, Everett, Pa.; Susque-Bancshares Leasing
Co., Lititz, Pa.; Susque-Bancshares Life Insurance Company, Lititz, Pa.;
Susquehanna Trust & Investment Co., Lititz, Pa.; Susquehanna Bancshares South,
Inc., parent of Susquehanna Bank, Towson, Md.; Susquehanna Bancshares East,
Inc., parent of Equity Bank, N.A., Marlton, N.J. and Founders' Bank, Bryn Mawr,
Pa.; Boston Service Company, Inc. (t/a Hann Financial Service Corporation)
Jamesburg, N.J.; and Valley Forge Asset Management Corp., King of Prussia, Pa.
Susquehanna's banking subsidiaries own or lease 141 community banking offices
in the mid-Atlantic region.
Investor information and photographs are available on Susquehanna's Web site at
http://www.susqbanc.com. For photographs, click on Press Releases at our web
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site.
For Further Information Contact:
William J. Reuter
President and Chief Executive Officer
SUSQUEHANNA BANCSHARES, INC.