Exhibit 99.1


THURSDAY, NOVEMBER 10, 2005

COMPANY PRESS RELEASE

Source:  Penseco Financial Services Corporation

PENSECO FINANCIAL SERVICES CORPORATION APPOINTS NEW PRESIDENT

SCRANTON,  PA, November 10 -- D. William Hume, Chairman of the Board for Penseco
Financial Services  Corporation and its banking affiliate Penn Security Bank and
Trust  Company,  announced  today the  appointment  of Mr. Craig W. Best (45) as
President and Chief Executive  Officer of both the Holding Company and the Bank,
effective January 3, 2006.

Mr. Best succeeds Attorney Otto P. Robinson,  Jr. who is retiring after 30 years
of  dedicated  service as  President  and CEO.  Mr.  Robinson  commented,  "I am
extremely  enthusiastic  about Mr. Best's  appointment  and feel certain that he
will provide exceptional leadership to our exceptional staff." Mr. Robinson will
continue to serve on both the Bank and Holding Company Boards.

In announcing this appointment,  Mr. Hume stated,  "The Board of Directors,  our
shareholders and our employees are deeply gratified to Mr. Robinson for the past
30 years of valuable leadership.  He has provided our company with solid growth,
strong earnings,  and exceptional  strengths  evidenced by our capital to assets
ratios in the top 10% of our peer group."

Mr. Hume added,  "We feel very  fortunate to have an executive  with Mr.  Best's
credentials joining our organization. He has over 20 years of banking experience
in all facets of banking and financial services."

Mr. Best began his banking career with Equibank in Pittsburgh,  Pennsylvania. He
has been employed by First Commonwealth  Financial  Corporation,  a $6.2 billion
financial services company, located in Indiana, Pennsylvania since 1986. For the
last five years, Mr. Best held the position of Chief Operating  Officer of First
Commonwealth  Bank where he was  responsible  for all lines of business  and all
major administrative functions.

In responding to his appointment Mr. Best stated,  "I am extremely excited to be
joining an organization as strong as Penn Security. The Bank has demonstrated an
exceptional capital position,  strong earnings and a rich tradition of providing
quality service to its customers and  communities for over 100 years.  The Board
of Directors,  Mr. Robinson, his staff and all Penn Security employees should be
extremely proud of their accomplishments."

Penseco Financial  Services  Corporation is a $560 million bank holding company,
headquartered in Scranton,  Pennsylvania.  It provides a full range of financial
services  through its banking  subsidiary,  Penn Security Bank and Trust Company
and its 9 branch offices and 23 ATM's located throughout  Lackawanna,  Wayne and
Monroe Counties.