EXHIBIT 99

                                  PRESS RELEASE








                            Advance Financial Bancorp
            Dividend Distribution of Preferred Stock Purchase Rights

                                  July 17, 1997

         Wellsburg, West Virginia, -- Advance Financial Bancorp (the "Company"),
Nasdaq symbol "AFBC",  the holding  company of Advance  Financial  Savings Bank,
announced  that the Board of Directors of the Company today  declared a dividend
distribution of one Preferred Share Purchase Right on each outstanding  share of
common stock, par value $.10 per share.
         Stephen M. Gagliardi,  Chief Executive Officer of the Company,  stated:
"The  Rights are  designed  to assure  that all of Advance  Financial  Bancorp's
stockholders  receive  fair and equal  treatment  in the  event of any  proposed
takeover  of  the  Company  and  to  guard  against   partial   tender   offers,
squeeze-outs,  open  market  accumulations  and other  abusive  tactics  to gain
control of the Company without paying all stockholders a control premium."
         The Rights will be  exercisable  only if a person or group acquires 15%
or  more  of the  Company's  common  stock  or  announces  a  tender  offer  the
consummation  of which would  result in ownership by a person or group of 15% or
more of the  common  stock.  Each  Right will  entitle  stockholders  to buy one
one-hundredth of a share of a new series of junior participating preferred stock
at an exercise price of $37.
         If the Company is acquired  in a merger or other  business  combination
transaction,  each Right will  entitle  its holder to  purchase,  at the Right's
then-current  exercise price, a number of the acquiring  company's common shares
having a market value of twice such price. In addition, if a person or group





acquires 15% or more of the Company's  outstanding common stock, each Right will
entitle  its  holder  (other  than such  person  or  members  of such  group) to
purchase,  at the Right's then-current exercise price, a number of the Company's
common shares having a market value of twice such price.
         Following the acquisition by a person or group of beneficial  ownership
of 15% or more of the Company's  common stock and prior to an acquisition of 50%
or more of the common  stock,  the Board of  Directors  may  exchange the Rights
(other than Rights  owned by such person or group),  in whole or in part,  at an
exchange ratio of one share of common stock (or one  one-hundredth of a share of
the new series of junior participating preferred stock) per Right.
         Prior to the  acquisition by a person or group of beneficial  ownership
of 15% or more of the Company's  common stock, the Rights are redeemable for one
cent per Right at the option of the Board of Directors.
         The Rights are intended to enable the Company's stockholders to realize
the long-term value of their investment in the Company.  They will not prevent a
takeover,  but  should  encourage  anyone  seeking  to  acquire  the  Company to
negotiate with the Board prior to attempting a takeover.
         The dividend  distribution  will be made on July 31,  1997,  payable to
stockholders  of record on that date.  The Rights will expire on July 17,  2007.
The Rights distribution is not taxable to stockholders.
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