Exhibit 99.1
 
  Parkvale Financial Corporation, Monroeville, PA
announces loss for the third quarter of fiscal 2009
  Bank of America preferred stocks
    
    $
    6,269,000FHLMC preferred stocks
    
    
    186,000Other bank common equities
    
    
    341,000Pooled trust preferred securities
    
    
    13,667,000Individual trust preferred security
    
    
    446,000
 "




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Results of Operations  Comparison of Nine Months Ended March 31, 2009 and 2008:




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Forward-Looking Statements:
    Contact:
    
    Robert J. McCarthy, Jr.
    
    Timothy G. RubritzPresident and CEO
    
    Chief Financial Officer(412) 373-4815
    
    (412) 373-4817email: timothy.rubritz@parkvale.com




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##### 



PARKVALE FINANCIAL CORPORATION
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
 Three months ended
    
    Nine months endedMarch 31,
    
    March 31,2009
    
    2008
    
    2009
    
    2008Total interest income
    
    $
    22,028
    
    
    $
    24,535
    
    
    $
    68,983
    
    
    $
    74,325Total interest expense
    
    
    12,068
    
    
    
    14,488
    
    
    
    37,504
    
    
    
    44,565Net interest income
    
    
    9,960
    
    
    
    10,047
    
    
    
    31,479
    
    
    
    29,760Provision for loan losses
    
    
    1,826
    
    
    
    376
    
    
    
    4,982
    
    
    
    1,367Net interest income after provision for losses
    
    
    8,134
    
    
    
    9,671
    
    
    
    26,497
    
    
    
    28,393Net (loss) gain on sale and writedown of
securities
    
    
    (20,742
    )
    
    
    (19
    )
    
    
    (25,724
    )
    
    
    (19
    )Total other non-interest income
    
    
    2,547
    
    
    
    2,572
    
    
    
    7,900
    
    
    
    8,240Total non-interest expense
    
    
    7,246
    
    
    
    7,122
    
    
    
    21,493
    
    
    
    21,620Income (loss) before income taxes
    
    
    (17,307
    )
    
    
    5,102
    
    
    
    (12,820
    )
    
    
    14,994Income tax expense (benefit)
    
    
    (3,237
    )
    
    
    1,576
    
    
    
    (1,920
    )
    
    
    4,249Net income (loss)
    
    
    (14,070
    )
    
    
    3,526
    
    
    
    (10,900
    )
    
    
    10,745Preferred stock dividend
    
    
    397
    
    
    
    
    
    
    
    432
    
    
    
    Income (loss) to common stockholders
    
    $
    (14,467
    )
    
    $
    3,526
    
    
    $
    (11,332
    )
    
    $
    10,745Basic earnings (loss) per common share
    
    $
    (2.65
    )
    
    $
    0.64
    
    
    $
    (2.08
    )
    
    $
    1.95Diluted earnings (loss) per common share
    
    $
    (2.65
    )
    
    $
    0.64
    
    
    $
    (2.08
    )
    
    $
    1.93Cash dividends per common share
    
    $
    0.22
    
    
    $
    0.22
    
    
    $
    0.66
    
    
    $
    0.66
 SELECTED FINANCIAL DATA
(In Thousands except per share data)
 March 31,
    
    June 30,
    
    March 31,2009
    
    2008
    
    2008Total assets
    
    $
    1,906,436
    
    
    $
    1,851,392
    
    
    $
    1,856,807Deposits
    
    
    1,511,773
    
    
    
    1,493,685
    
    
    
    1,490,174Total loans, net
    
    
    1,143,015
    
    
    
    1,201,665
    
    
    
    1,181,982Loan loss reserves
    
    
    17,250
    
    
    
    15,249
    
    
    
    15,044Non-performing assets (loans and foreclosed
real estate)
    
    
    31,491
    
    
    
    15,808
    
    
    
    14,503Ratio to total assets
    
    
    1.65
    %
    
    
    0.85
    %
    
    
    0.78
    %Allowance for loan losses as a % of gross loans
    
    
    1.49
    %
    
    
    1.25
    %
    
    
    1.26
    %Total stockholders equity
    
    $
    149,752
    
    
    $
    131,631
    
    
    $
    130,292Book value per common share
    
    
    21.74
    
    
    
    24.01
    
    
    
    23.77
 OTHER SELECTED DATA
 Three months ended
    
    Nine months endedMarch 31,
    
    March 31,2009
    
    2008
    
    2009
    
    2008Average yield earned on all
interest-earning assets
    
    
    5.09
    %
    
    
    5.68
    %
    
    
    5.32
    %
    
    
    5.75
    %Average rate paid on all interest-earning
liabilities
    
    
    2.83
    %
    
    
    3.42
    %
    
    
    2.97
    %
    
    
    3.51
    %Average interest rate spread
    
    
    2.26
    %
    
    
    2.26
    %
    
    
    2.35
    %
    
    
    2.24
    %Net yield on average interest earning assets
    
    
    2.30
    %
    
    
    2.32
    %
    
    
    2.43
    %
    
    
    2.30
    %Return on average assets
    
    
    -2.96
    %
    
    
    0.77
    %
    
    
    -0.78
    %
    
    
    0.78
    %Return on average equity
    
    
    -34.51
    %
    
    
    10.64
    %
    
    
    -9.83
    %
    
    
    10.97
    %Non-interest expense to average assets
    
    
    1.52
    %
    
    
    1.55
    %
    
    
    1.54
    %
    
    
    1.57
    %