Exhibit 99.0


                         INDEPENDENT ACCOUNTANT'S REPORT
                         -------------------------------


Board of Directors
Nittany Financial Corp.


We  have  reviewed  the  accompanying  consolidated  balance  sheet  of  Nittany
Financial Corp. (the "Company") and subsidiary as of September 30, 2002, and the
related  consolidated  statements of income for the three and nine-month periods
ended September 30, 2002 and 2001, and the consolidated  statements of cash flow
and changes in  stockholders'  equity for the nine month period ended  September
30, 2002. These consolidated  financial statements are the responsibility of the
Company's management.

We conducted our review in accordance with standards established by the American
Institute  of  Certified  Public  Accountants.  A review  of  interim  financial
information consists principally of applying analytical  procedures to financial
data and making  inquiries of persons  responsible  for financial and accounting
matters. It is substantially less in scope than an audit conducted in accordance
with auditing standards generally accepted in the United States of America,  the
objective  of which is the  expression  of an opinion  regarding  the  financial
statements taken as a whole. Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material  modifications that should
be made to the  accompanying  financial  statements for them to be in conformity
with accounting principles generally accepted in the United States of America.

We have  previously  audited,  in accordance with auditing  standards  generally
accepted in the United States of America,  the consolidated  balance sheet as of
December 31, 2001, and the related consolidated statements of income, changes in
stockholders'  equity  and cash  flows for the year then  ended  (not  presented
herein);  and in our report dated  February 8, 2002, we expressed an unqualified
opinion on those consolidated financial statements.



/s/ S.R. Snodgrass, A.C.

Wexford, PA
November 12, 2002