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                                                                  EXHIBIT 10.14

                                   AGREEMENT

         AGREEMENT, dated this 27th day of June 2002, between Pittsburgh Savings
Bank d/b/a BankPittsburgh (the "Savings Bank"), a Pennsylvania-chartered savings
bank and wholly-owned subsidiary of Pittsburgh Financial Corp. (the
"Corporation") and JEFFREY A. MARTIN (the "Executive").

                                   WITNESSETH

         WHEREAS, the Executive is presently an officer of the Savings Bank
(the "Employer"); and

         WHEREAS, the Employer desire to be ensured of the Executive's
continued active participation in the business of the Employer; and

         WHEREAS, in order to induce the Executive to remain in the employ of
the Employer and in consideration of the Executive's agreeing to remain in the
employ of the Employer, the parties desire to specify the severance benefits
which shall be due the Executive in the event that his employment with the
Employer is terminated under specified circumstances;

         NOW THEREFORE, in consideration of the premises and the mutual
agreements herein contained, the parties hereby agree as follows:

         1.       DEFINITIONS.  The  following  words and terms  shall  have the
meanings set forth below for the purposes of this Agreement:

         (a)      BASE SALARY.  "Base Salary" shall have the meaning set forth
in Section 3(a) hereof.

         (b)      CAUSE. Termination of the Executive's employment for "Cause"
shall mean termination because of personal dishonesty, incompetence, willful
misconduct, breach of fiduciary duty involving personal profit, intentional
failure to perform stated duties, willful violation of any law, rule or
regulation (other than traffic violations or similar offenses) or final
cease-and-desist order or material breach of any provision of this Agreement.
For purposes of this paragraph, no act or failure to act on the Executive's
part shall be considered "willful" unless
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done, or omitted to be done, by the Executive not in good faith and without
reasonable belief that the Executive's action or omission was in the best
interest of the Employer.

         (c)      CHANGE IN CONTROL OF THE CORPORATION. "Change in Control of
the Corporation" shall mean a change in control of a nature that would be
required to be reported in response to Item 6(e) of Schedule 14A of Regulation
14A promulgated under the Securities Exchange Act of 1934, as amended
("Exchange Act"), or any successor thereto, whether or not the Corporation is
registered under Exchange Act; provided that, without limitation, such a change
in control shall be deemed to have occurred if (i) any "person" (as such term
is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the
"beneficial owner" (as defined in Rule 13d-3 under the Exchange Act), directly
or indirectly, of securities of the Corporation representing 25% or more of the
combined voting power of the Corporation's then outstanding securities; or (ii)
during any period of two consecutive years, individuals who at the beginning of
such period constitute the Board of Directors of the Corporation cease for any
reason to constitute at least a majority thereof unless the election, or the
nomination for election by stockholders, of each new director was approved by a
vote of at least two-thirds of the directors then still in office who were
directors at the beginning of the period.

         (d)      CODE.  "Code" shall mean the Internal Revenue Code of 1986,
as amended.

         (e)      DATE OF TERMINATION. "Date of Termination" shall mean (i) if
the Executive's employment is terminated for Cause or for Disability, the date
specified in the Notice of Termination, and (ii) if the Executive's employment
is terminated for any other reason, the date on which a Notice of Termination
is given or as specified in such Notice.

         (f)      DISABILITY. Termination by the Employer of the Executive's
employment based on "Disability" shall mean termination because of any physical
or mental impairment which qualifies the Executive for disability benefits
under the applicable long-term disability plan maintained by the Employer or
any subsidiary or, if no such plan applies, which would qualify the Executive
for disability benefits under the Federal Social Security System.

         (g)      GOOD REASON.  Termination by the Executive of the Executive's
employment for "Good Reason" shall mean termination by the Executive following
a Change in Control of the Corporation based on:
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                  (i)      Without the Executive's express written consent, a
                           reduction by the Employer in the Executive's Base
                           Salary as the same may be increased from time to time
                           or, except to the extent permitted by Section 3(b)
                           hereof, a reduction in the package of fringe benefits
                           provided to the Executive, taken as a whole;

                  (ii)     The principal executive office of the Employer is
                           relocated outside of the Pittsburgh, Pennsylvania,
                           area or, without the Executive's express written
                           consent, the Employer requires the Executive to be
                           based anywhere other than an area in which the
                           Employer's principal executive office is located,
                           except for required travel on business of the
                           Employer to an extent substantially consistent with
                           the Executive's present business travel obligations;

                  (iii)    Any purported termination of the Executive's
                           employment for Cause, Disability or Retirement which
                           is not effected pursuant to a Notice of Termination
                           satisfying the requirements of paragraph (i) below;

                  (iv)     The failure by the Employer to elect or to re-elect
                           or to appoint or to re-appoint the Executive to the
                           offices of Senior Vice President and Chief Lending
                           Officer of the Employer or a material adverse change
                           made by the Employer in the Executive's functions,
                           duties or responsibilities as Senior Vice President
                           and Chief Lending Officer of the Employer without the
                           Executive's express written consent; or

                  (v)      The failure by the Employer to obtain the assumption
                           of and agreement to perform this Agreement by any
                           successor as contemplated in Section 9 hereof.

         (h)      IRS.  IRS shall mean the Internal Revenue Service.

         (i)      NOTICE OF TERMINATION. Any purported termination of the
Executive's employment by the Employer for any reason, including without
limitation for Cause, Disability or Retirement, or by the Executive for any
reason, including without limitation for Good Reason, shall be communicated by
written "Notice of Termination" to the other party hereto. For purposes of this
Agreement, a "Notice of Termination" shall mean a dated notice which (i)
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indicates the specific termination provision in this Agreement relied upon,
(ii) sets forth in reasonable detail the facts and circumstances claimed to
provide a basis for termination of Executive's employment under the provision
so indicated, (iii) specifies a Date of Termination, which shall be not less
than thirty (30) nor more than ninety (90) days after such Notice of
Termination is given, except in the case of the Employer's termination of
Executive's employment for Cause, which shall be effective immediately; and
(iv) is given in the manner specified in Section 10 hereof.

         (j)      RETIREMENT. Termination by the Employer of the Executive's
employment based on "Retirement" shall mean voluntary termination by the
Executive in accordance with the Employer's retirement policies, including early
retirement, generally applicable to its salaried employees.

         2.       TERM OF EMPLOYMENT.

         (a)      The Employer hereby employs the Executive as Senior Vice
President and Chief Lending Officer and Executive hereby accepts said
employment and agrees to render such services to the Employer on the terms and
conditions set forth in this Agreement. The term of employment under this
Agreement shall be for two years commencing on the date of this agreement.
Beginning on December 31, 2002 and each anniversary thereafter, upon approval
of the Board of Directors of the Employer, the term of employment for the
Executive shall be extended for an additional calendar year, and on each
calendar year end thereafter such that at any time the remaining term of this
Agreement shall be from one to two years. Prior to each calendar year end
hereafter, the Board of Directors of the Employer shall consider and review
(with appropriate corporate documentation thereof, and after taking into
account all relevant factors, including the Executive's performance hereunder)
extension of the term under this Agreement, and the term shall continue to
extend each year if the Board of Directors approves such extension unless the
Executive gives written notice to the Employer of the Executive's election not
to extend the term, with such written notice to be given not less than thirty
(30) days prior to any such calendar year end. References herein to the term of
this Agreement shall refer both to the initial term and successive terms.

         (b)      During the term of this Agreement, the Executive shall perform
such executive services for the Employer as may be consistent with his titles
and from time to time assigned to him by the Employer's Board of Directors.
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         3.       COMPENSATION AND BENEFITS.

         (a)      The Employer shall compensate and pay Executive for his
services during the term of this Agreement at a minimum salary of $100,000 per
year, which may be increased from time to time in such amounts as may be
determined by the Board of Directors of the Employer and, except in connection
with a company-wide general reduction in salaries as a result of general
economic conditions, may not be decreased without the Executive's express
written consent (hereinafter, referred to as Executive's "Base Salary"). In
addition, the Executive may also receive bonus payments when, as, and if
determined in the sole discretion of the Board of Directors of the Employer.

         (b)      During the term of the Agreement, Executive shall be entitled
to participate in and receive the benefits of any pension or other retirement
benefit plan, profit sharing, stock option, employee stock ownership, or other
plans, benefits and privileges given to employees and executives of the
Employer and the Corporation, to the extent commensurate with his then duties
and responsibilities, as fixed by the Board of Directors of the Employer. The
Employer shall not make any changes in such plans, benefits or privileges which
would adversely affect Executive's rights or benefits thereunder, unless such
change occurs pursuant to a program applicable to all executive officers of the
Employer and does not result in a proportionately greater adverse change in the
rights of or benefits to Executive as compared with any other executive officer
of the Employer. Nothing paid to Executive under any plan or arrangement
presently in effect or made available in the future shall be deemed to be in
lieu of the salary payable to Executive pursuant to Section 3(a) hereof.

         (c)      During the term of this Agreement, Executive shall be entitled
to paid annual vacation in accordance with the policies as established from
time to time by the Board of Directors of the Employer, which shall in no event
be less than three weeks per annum. Executive shall not be entitled to receive
any additional compensation from the Employer for failure to take a vacation,
nor shall Executive be able to accumulate unused vacation time from one year to
the next, except to the extent authorized by the Board of Directors of the
Employer.

         (d)      In the event of termination by the Employer of the Executive's
employment because of Disability, the Employer shall provide continued medical
insurance in the Employer's health plan for the benefit of the Executive and
his spouse until the Executive shall have attained the age of 65, and such
insurance shall be comparable to that which is provided to the Executive as of
the date of this Agreement notwithstanding anything to the contrary in this
Agreement. In
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the event of the Executive's death before he attains the age of 65, the
Employer shall provide the Executive's spouse said medical insurance for two
years from the date of the Executive's death.

         (e)      In the event of the Executive's death during the term of this
Agreement, the Executive's spouse, estate, legal representative or named
beneficiaries (as directed by the Executive in writing) shall be paid on a
monthly basis the greater of (i) the death benefits which may be available under
one or more life insurance policies of the Employer or (ii) the Executive's
annual compensation from the Employer at the rate in effect at the time of the
Executive's death for a period of twelve (12) months from the date of the
Executive's death.

         4.       EXPENSES. The Employer shall reimburse Executive or otherwise
provide for or pay for all reasonable expenses incurred by Executive in
furtherance of, or in connection with the business of the Employer, including,
but not by way of limitation, traveling expenses, and all reasonable
entertainment expenses (whether incurred at the Executive's residence, while
traveling or otherwise), subject to such reasonable documentation and other
limitations as may be established by the Board of Directors of the Employer. If
such expenses are paid in the first instance by Executive, the Employer shall
reimburse the Executive therefor.

         5.       TERMINATION.

         (a)      The Employer shall have the right, at any time upon prior
Notice of Termination, to terminate the Executive's employment hereunder for
any reason, including without limitation termination for Cause, Disability or
Retirement, and Executive shall have the right, upon prior Notice of
Termination, to terminate his employment hereunder for any reason.

         (b)      In the event that (i) Executive's employment is terminated by
the Employer for Cause, Disability or Retirement or in the event of the
Executive's death, or (ii) Executive terminates his employment hereunder other
than for Good Reason, Executive shall have no right pursuant to this Agreement
to compensation or other benefits for any period after the applicable Date of
Termination, other than as set forth in subsections 3(d) and 3(e) hereinabove.

         (c)      In the event that (i) Executive's employment is terminated by
the Employer for other than Cause, Disability, Retirement or the Executive's
death, or (ii) such employment is terminated by the Executive (a) due to a
material breach of this Agreement by the Employer, which breach has not been
cured within fifteen (15) days after a written notice of non-
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                                       7

compliance has been given by the Executive to the Employer, or (b) for Good
Reason, then the Employer shall:

                  (A)      pay to the Executive, in twenty-four (24) equal
         monthly installments beginning with the first business day of the month
         following the Date of Termination, a cash severance amount equal to two
         (2) times the Executive's Base Salary, and

                  (B)      maintain and provide for a period ending at the
         earlier of (i) the expiration of the remaining term of employment
         pursuant hereto prior to the Notice of Termination or (ii) the date of
         the Executive's full-time employment by another employer (provided
         that the Executive is entitled under the terms of such employment to
         benefits substantially similar to those described in this subparagraph
         (B)), at no additional cost to the Executive beyond that which the
         Executive is responsible for prior to the Date of Termination, the
         Executive's continued participation in all group insurance, life
         insurance, health and accident, disability and other employee benefit
         plans, programs and arrangements in which the Executive was entitled to
         participate immediately prior to the Date of Termination (other than
         stock option and restricted stock plans of the Employer and
         the Corporation), provided that in the event that the Executive's
         participation in any plan, program or arrangement as provided in this
         subparagraph (B) is barred, or during such period any such plan,
         program or arrangement is discontinued or the benefits thereunder are
         materially reduced, the Employer shall arrange to provide the
         Executive with benefits substantially similar to those which the
         Executive was entitled to receive under such plans, programs and
         arrangements immediately prior to the Date of Termination.

         6.       LIMITATION OF BENEFITS UNDER CERTAIN CIRCUMSTANCES. If the
payments and benefits pursuant to Section 5 hereof, either alone or together
with other payments and benefits which Executive has the right to receive from
the Employer or other companies affiliated with the Employer, would constitute
a "parachute payment" under Section 280G of the Code, the payments and benefits
pursuant to Section 5 hereof shall be reduced, in the manner determined by the
Executive, by the amount, if any, which is the minimum necessary to result in
no portion of the payments and benefits under Section 5 being non-deductible to
the Employer pursuant to Section 280G of the Code and subject to the excise tax
imposed under Section 4999 of the Code. The determination of any reduction in
the payments and benefits to be made pursuant to Section 5 shall be based upon
the opinion of independent tax counsel selected by the Employer's independent
public accountants and paid by the Employer. Such counsel shall be reasonably
acceptable to the Employer and the Executive; shall promptly prepare the
foregoing opinion, but
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in no event later than thirty (30) days from the Date of Termination; and may
use such actuaries as such counsel deems necessary or advisable for the
purpose. In the event that the Employer and/or the Executive do not agree with
the opinion of such counsel, (i) the Employer shall pay to the Executive the
maximum amount of payments and benefits pursuant to Section 5, as selected by
the Executive, which such opinion indicates that there is a high probability do
not result in any of such payments and benefits being non-deductible to the
Employer and subject to the imposition of the excise tax imposed under Section
4999 of the Code and (ii) the Employer may request, and Executive shall have
the right to demand that the Employer request, a ruling from the IRS as to
whether the disputed payments and benefits pursuant to Section 5 hereof have
such consequences. Any such request for a ruling from the IRS shall be promptly
prepared and filed by the Employer, but in no event later than thirty (30) days
from the date of the opinion of counsel referred to above, and shall be subject
to Executive's approval prior to filing, which shall not be unreasonably
withheld. The Employer and Executive agree to be bound by any ruling received
from the IRS and to make appropriate payments to each other to reflect any such
rulings, together with interest at the applicable federal rate provided for in
Section 7872(f)(2) of the Code. Nothing contained herein shall result in a
reduction of any payments or benefits to which the Executive may be entitled
upon termination of employment under any circumstances other than as specified
in this Section 6, or a reduction in the payments and benefits specified in
Section 5 below zero.

         7.       MITIGATION; EXCLUSIVITY OF BENEFITS.

         (a)      In the event that the Employer is required to make payments
to the Executive pursuant to Section 5 hereof in connection with a termination
of Executive's employment for other than Good Reason, the cash severance amount
required to be paid by the Employer shall be reduced during each year that such
payments are required to be made by 50% of any payments made to the Executive
by any other employer. In all other circumstances, the Executive shall not be
required to mitigate the amount of any benefits hereunder by seeking other
employment or otherwise, nor shall the amount of any such benefits be reduced
by any compensation earned by the Executive as a result of employment by
another employer after the Date of Termination or otherwise.

         (b)      The specific arrangements referred to herein are not intended
to exclude any other benefits which may be available to the Executive upon a
termination of employment with the Employer pursuant to employee benefit plans
of the Employer or the Corporation.
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         8.       WITHHOLDING.  All payments  required to be made by the
Employer hereunder to the Executive shall be subject to the withholding of such
amounts, if any, relating to tax and other payroll deductions as the Employer
may reasonably determine should be withheld pursuant to any applicable law or
regulation.

         9.       ASSIGNABILITY. The Employer may assign this Agreement and its
rights and obligations hereunder in whole, but not in part, to any corporation,
bank or other entity with or into which the Employer may hereafter merge or
consolidate or to which the Employer may transfer all or substantially all of
its assets, if in any such case said corporation, bank or other entity shall by
operation of law or expressly in writing assume all obligations of the Employer
hereunder as fully as if it had been originally made a party hereto, but may
not otherwise assign this Agreement or its rights and obligations hereunder.
The Executive may not assign or transfer this Agreement or any rights or
obligations hereunder.

         10.      NOTICE. For the purposes of this Agreement, notices and all
other communications provided for in this Agreement shall be in writing and
shall be deemed to have been duly given when delivered or mailed by certified
or registered mail, return receipt requested, postage prepaid, addressed to the
respective addresses set forth below:

         To the Employer:   Secretary
                            Pittsburgh Savings Bank d/b/a BankPittsburgh
                            1001 Village Run Road
                            Wexford, Pennsylvania  15090

         To the Executive:  Jeffrey A.  Martin
                            1400 Browning Road
                            Pittsburgh, Pennsylvania  15206

         11.      AMENDMENT; WAIVER. No provisions of this Agreement may be
modified, waived or discharged unless such waiver, modification or discharge is
agreed to in writing signed by the Executive and such officer or officers as
may be specifically designated by the Board of Directors of the Employer to
sign on their behalf. No waiver by any party hereto at any time of any breach
by any other party hereto of, or compliance with, any condition or provision of
this Agreement to be performed by such other party shall be deemed a waiver of
similar or dissimilar provisions or conditions at the same or at any prior or
subsequent time.
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         12.      GOVERNING LAW. The validity,  interpretation,  construction
and performance of this Agreement shall be governed by the laws of the United
States where applicable and otherwise by the substantive laws of the
Commonwealth of Pennsylvania.

         13.      NATURE OF OBLIGATIONS. Nothing contained herein shall create
or require the Employer to create a trust of any kind to fund any benefits
which may be payable hereunder, and to the extent that the Executive acquires a
right to receive benefits from the Employer hereunder, such right shall be no
greater than the right of any unsecured general creditor of the Employer.

         14.      HEADINGS.  The section headings  contained in this Agreement
are for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.

         15.      VALIDITY.  The invalidity or  unenforceability  of any
provision of this Agreement shall not affect the validity or enforceability of
any other provisions of this Agreement, which shall remain in full force and
effect.

         16.      COUNTERPARTS.  This Agreement may be executed in one or more
counterparts, each of which shall be deemed to be an original but all of which
together will constitute one and the same instrument.

         17.      REGULATORY  PROHIBITION.  Notwithstanding any other provision
of this Agreement to the contrary, any payments made to the Executive pursuant
to this Agreement, or otherwise, are subject to and conditioned upon their
compliance with Section 18(k) of the FDIA (12 U.S.C. Section 1828(k)) and any
regulations promulgated thereunder.
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         IN WITNESS WHEREOF, this Agreement has been executed as of the date
first above written.

Attest:                                        PITTSBURGH SAVINGS BANK
                                               d/b/a BANKPITTSBURGH

/s/ Gregory G. Maxcy                           By:  /s/ J. Ardie Dillen
------------------------------------                ---------------------------
Gregory G. Maxcy, Secretary                         J. Ardie Dillen, President
                                                     and Chief Executive Officer

Attest:                                        EXECUTIVE

/s/ Gregory G. Maxcy                           By:  /s/ Jeffrey A. Martin
------------------------------------                ---------------------------
Gregory G. Maxcy, Secretary                         Jeffrey A. Martin