EXHIBIT 99.2
PRESS RELEASE
Contact: James S. Nelson
Senior Vice President
Steelton Bancorp, Inc.
(717) 939-1966
Steelton Bancorp, Inc.
Mechanics Savings Bank
51 S. Front Street
Steelton, PA 17113
OTC Electronic Bulletin Board "SELO"
FOR IMMEDIATE RELEASE
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Restricted Stock Plan
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Stock Repurchase
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Steelton, Pennsylvania - February 23, 2000 - Steelton Bancorp, Inc., Steelton,
Pennsylvania, the holding company of Mechanics Savings Bank, today announced its
intention to repurchase up to 4% or 15,400 shares of the company's common stock.
These purchases are in addition to the previously announced 5% repurchase of
shares. These repurchases will be made to fund the Bank's restricted stock plan
for plan awards to its officers and directors. The purchases will be made in
open market transactions, subject to availability of stock, market conditions,
trading price of the stock and the Company's financial performance. The
repurchases will mitigate some of the potentially dilutive effects of the
Company's stock benefit plans. The repurchase is expected to be completed by
June 30, 2000.
For further information contact:
James S. Nelson, Investor Relations Officer
51 South Front Street * P.O. Box 7614 * Steelton, Pennsylvania 17113 * Phone 717-939-1966 * FAX 717-939-2629