UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) June 21, 2006

                         Parkvale Financial Corporation
             (Exact Name of Registrant as Specified in its Charter)


                                                       
        Pennsylvania                       0-17411                25-1556590
(State or other jurisdiction            (Commission             (IRS Employer
      of incorporation)                 File Number)         Identification No.)



                                                                   
4220 William Penn Highway, Monroeville, Pennsylvania                     15146
      (Address of principal executive offices)                        (Zip Code)


Registrant's telephone number, including area code (412) 373-7200

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2 below):

[ ]  Written communications pursuant to Rule 425 under the Securities Act (17
     CFR 240.14d-2(b))

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))



ITEM 7.01 REGULATION FD DISCLOSURE.

     Attached as Exhibit 99.1 is a dividend release of Parkvale Financial
     Corporation dated June 21, 2006.

     On June 21, 2006, the Company announced that the Board of Directors
     declared a quarterly cash dividend of $0.20 per share to stockholders of
     record at the close of business on June 30, 2006, payable on July 26, 2006.

     Additionally, the Company announced the authorization of a new stock
     repurchase program effective July 1, 2006 which authorizes the purchase of
     up to 283,400 shares, representing 5% of the Company's outstanding common
     stock and the Company noted the current stock repurchase program expires on
     June 30, 2006. The current program has resulted in the acquisition of
     66,535 shares to date.

     The information contained in this Report on Form 8-K is furnished pursant
     to Item 7.01 and shall not be deemed "filed" for purposes of Section 18 of
     the Securities Exchange Act of 1934, as amended, or otherwise subject to
     the liabilities of that section, nor shall such information be deemed
     incorporated by reference in any filing under the Securities Exchange Act
     of 1933, as amended except as shall be expressly set forth by specific
     refernce in such filing.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(a)  Not applicable.

(b)  Not applicable.

(c)  Not applicable.

(d)  Exhibits. The following exhibits are included with this Report:

          99.1 Press Release, dated June 21, 2006

                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                        PARKVALE FINANCIAL CORPORATION


                                        By: /s/ Timothy G. Rubritz
                                            ------------------------------------
                                        Name: Timothy G. Rubritz
                                        Title: Vice President and Chief
                                               Financial Officer

Date: June 21, 2006