Document:

EX-10.2

Exhibit 10.2

			
	 	 	 
	Term Note
	 	

			
	 	 	 
	$25,000,000.00
	 	December 30, 2008        

FOR VALUE RECEIVED, PARKVALE FINANCIAL CORPORATION (the “Borrower”), with an address at 4220
William Penn Highway, Monroeville, PA 15146, promises to pay to the order of PNC BANK, NATIONAL
ASSOCIATION (the “Bank”), in lawful money of the United States of America in immediately available
funds at its offices located at One PNC Plaza, 249 Fifth Avenue, Pittsburgh, Pennsylvania
15222-2707, or at such other location as the Bank may designate from time to time, the principal
sum of TWENTY-FIVE MILLION DOLLARS ($25,000,000.00), together with interest accruing on the
outstanding principal balance from the date hereof, all as provided below.

1. Rate of Interest. A rate per annum equal to (A) LIBOR plus (B) three hundred
and twenty-five (325) basis points (3.25%), for the applicable LIBOR Interest Period.

If the Bank determines (which determination shall be final and conclusive) that, by reason of
circumstances affecting the eurodollar market generally, deposits in dollars (in the applicable
amounts) are not being offered to banks in the eurodollar market for the selected term, or adequate
means do not exist for ascertaining LIBOR, then the Bank shall give notice thereof to the Borrower.
Thereafter, until the Bank notifies the Borrower that the circumstances giving rise to such
suspension no longer exist, (a) the availability of LIBOR shall be suspended, and (b) the interest
rate for all amounts then bearing interest under LIBOR shall be converted at the expiration of the
then current LIBOR Interest Period(s) to the Base Rate.

In addition, if, after the date of this Note, the Bank shall determine (which determination shall
be final and conclusive) that any enactment, promulgation or adoption of or any change in any
applicable law, rule or regulation, or any change in the interpretation or administration thereof
by a governmental authority, central bank or comparable agency charged with the interpretation or
administration thereof, or compliance by the Bank with any guideline, request or directive (whether
or not having the force of law) of any such authority, central bank or comparable agency shall make
it unlawful or impossible for the Bank to make or maintain or fund loans based on LIBOR, the Bank
shall notify the Borrower. Upon receipt of such notice, until the Bank notifies the Borrower that
the circumstances giving rise to such determination no longer apply, (a) the availability of LIBOR
shall be suspended, and (b) the interest rate on all amounts then bearing interest under LIBOR
shall be converted to the Base Rate either (i) on the last day of the then current LIBOR Interest
Period(s) if the Bank may lawfully continue to maintain or fund loans based on LIBOR to such day,
or (ii) immediately if the Bank may not lawfully continue to maintain loans based on LIBOR.

The foregoing notwithstanding, it is understood that the Borrower may select up to three (3)
different interest periods to apply simultaneously to different portions of the Note bearing
interest under LIBOR. Interest hereunder will be calculated based on the actual number of days
that principal is outstanding over a year of 360 days. In no event will the rate of interest
hereunder exceed the maximum rate allowed by law.

For purposes hereof, the following terms shall have the following meanings:

“Base Rate” shall mean the higher of (A) the Prime Rate, and (B) the sum of the Federal
Funds Open Rate plus fifty (50) basis points (0.50%).

“Business Day” shall mean any day other than a Saturday or Sunday or a legal holiday on
which commercial banks are authorized or required by law to be closed for business in
Pittsburgh, Pennsylvania.

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“Federal Funds Open Rate” shall mean, for any day, the rate per annum determined by the Bank
in accordance with its usual procedures (which determination shall be conclusive absent
manifest error) to be the Open Rate for federal funds transactions as of the opening of
business for federal funds transactions among members of the Federal Reserve System arranged
by federal funds brokers on such day, as quoted by Garvin Guybutler, any successor entity
thereto, or any other broker selected by the Bank, as set forth on the applicable Telerate
display page; provided, however, that if such day is not a Business Day, the Federal Funds
Rate for such day shall be the Open Rate on the immediately preceding Business Day, or if no
such rate shall be quoted by a federal funds broker at such time, such other rate as
determined by the Bank in accordance with its usual procedures. The rate of interest
charged shall be adjusted as of each Business Day based on changes in the Federal Funds Open
Rate without notice to the Borrower.

“LIBOR” shall mean, for the applicable LIBOR Interest Period, the interest rate per annum
determined by the Bank by dividing (the resulting quotient rounded upwards, at the Bank’s
discretion, to the nearest 1/100th of 1%) (i) the rate of interest determined by the Bank in
accordance with its usual procedures (which determination shall be conclusive absent
manifest error) to be the eurodollar rate two (2) Business Days prior to the first day of
such LIBOR Interest Period for an amount comparable to such advance and having a borrowing
date and a maturity comparable to such LIBOR Interest Period by (ii) a number equal to 1.00
minus the LIBOR Reserve Percentage.

“LIBOR Interest Period” shall mean, with respect to any amount to which the LIBOR Option
applies, the period of one (1), two (2), three (3) or six (6) months as selected by the
Borrower on the date of disbursement of such amount and each successive period selected by
the Borrower thereafter; provided that, (i) if a LIBOR Interest Period would
end on a day which is not a Business Day, it shall end on the next succeeding Business Day
unless such day falls in the next succeeding calendar month in which case the LIBOR Interest
Period shall end on the next preceding Business Day, (ii) the Borrower may not select a
LIBOR Interest Period that would end on a day after the Maturity Date (as hereinafter
defined), and (iii) any LIBOR Interest Period that begins on the last Business Day of a
calendar month (or a day for which there is no numerically corresponding day in the last
calendar month of such LIBOR Interest Period) shall end on the last Business Day of the last
calendar month of such LIBOR Interest Period.

“LIBOR Reserve Percentage” shall mean the maximum effective percentage in effect on such day
as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for
determining the reserve requirements (including, without limitation, supplemental, marginal
and emergency reserve requirements) with respect to eurocurrency funding (currently referred
to as “Eurocurrency liabilities”).

“Prime Rate” shall mean the rate publicly announced by the Bank from time to time as its
prime rate. The Prime Rate is determined from time to time by the Bank as a means of
pricing some loans to its borrowers. The Prime Rate is not tied to any external rate of
interest or index, and does not necessarily reflect the lowest rate of interest actually
charged by the Bank to any particular class or category of customers.

LIBOR shall be adjusted on and as of the effective date of any change in the LIBOR Reserve
Percentage. The Bank shall give prompt notice to the Borrower of LIBOR as determined or adjusted
in accordance herewith, which determination shall be conclusive absent manifest error.

2. LIBOR Interest Period Election. Subject to the terms and conditions of this Note, at the
end of each LIBOR Interest Period applicable to any amounts hereunder, the Borrower may renew the
LIBOR Interest Period applicable to such amounts or convert such amounts to a different LIBOR
Interest Period; provided that, during any period in which any Event of Default (as
hereinafter defined) has occurred and is continuing, any amounts bearing interest under LIBOR
shall, at the Bank’s sole discretion, be converted at the end of the applicable LIBOR Interest
Period to the Base Rate and LIBOR will not be available to Borrower with respect to the renewal of
any other amounts until such Event of Default has been cured by the Borrower or waived by the Bank.
If at

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least three (3) Business Days prior to the expiration of any LIBOR Interest Period, the Borrower
does not notify the Bank of the election of a different LIBOR Interest Period, and the amount of
the portions hereunder to be allocated to each different LIBOR Interest Period, the Borrower shall
be deemed to have selected a LIBOR Interest Period of one month’s duration for all such amounts.
Any such election shall be promptly confirmed in writing by such method as the Bank may require.

3.   Payment of Interest. The Borrower shall pay accrued interest on the unpaid principal
balance of this Note in arrears: (a) for amounts hereunder bearing interest under the Base Rate,
on the last day of each calendar quarter during the term hereof, (b) for amounts hereunder bearing
interest under LIBOR, on the last day of the respective LIBOR Interest Period for such amounts, (c)
if any LIBOR Interest Period is longer than three (3) months, then also on the three (3) month
anniversary of such interest period and every three (3) months thereafter, and (d) for all
outstanding amounts, at maturity, whether by acceleration of this Note or otherwise, and after
maturity, on demand until paid in full.

4. Payment of Principal. Principal shall be due and payable in fifteen (15) equal
consecutive quarterly installments in the amount of $625,000.00 each, commencing on March 31, 2010
and continuing on the last day of each quarter thereafter, and a final installment of
$15,625,000.00 on December 31, 2013. Any outstanding principal and accrued interest shall be due
and payable in full on December 31, 2013 (the “Maturity Date”).

If any payment under this Note shall become due on a Saturday, Sunday or public holiday under the
laws of the State where the Bank’s office indicated above is located, such payment shall be made on
the next succeeding Business Day and such extension of time shall be included in computing interest
in connection with such payment. The Borrower hereby authorizes the Bank to charge the Borrower’s
deposit account at the Bank for any payment when due hereunder. Payments received will be applied
to charges, fees and expenses (including attorneys’ fees), accrued interest and principal in any
order the Bank may choose, in its sole discretion.

5.   Late Payments; Default Rate. If the Borrower fails to make any payment of principal,
interest or other amount coming due pursuant to the provisions of this Note within fifteen (15)
calendar days of the date due and payable, the Borrower also shall pay to the Bank a late charge
equal to the lesser of five percent (5%) of the amount of such payment or $100.00 (the “Late
Charge”). Such fifteen (15) day period shall not be construed in any way to extend the due date of
any such payment. Upon maturity, whether by acceleration, demand or otherwise, and at the Bank’s
option upon the occurrence of any Event of Default (as hereinafter defined) and during the
continuance thereof, amounts outstanding under this Note shall bear interest at a rate per annum
(based on the actual number of days that principal is outstanding over a year of 360 days) which
shall be two percentage points (2%) in excess of the interest rate in effect from time to time
under this Note but not more than the maximum rate allowed by law (the “Default Rate”). The
Default Rate shall continue to apply whether or not judgment shall be entered on this Note. Both
the Late Charge and the Default Rate are imposed as liquidated damages for the purpose of defraying
the Bank’s expenses incident to the handling of delinquent payments, but are in addition to, and
not in lieu of, the Bank’s exercise of any rights and remedies hereunder, under the other Loan
Documents or under applicable law, and any fees and expenses of any agents or attorneys which the
Bank may employ. In addition, the Default Rate reflects the increased credit risk to the Bank of
carrying a loan that is in default. The Borrower agrees that the Late Charge and Default Rate are
reasonable forecasts of just compensation for anticipated and actual harm incurred by the Bank, and
that the actual harm incurred by the Bank cannot be estimated with certainty and without
difficulty.

6.   Prepayment. The Borrower shall have the right to prepay any amount hereunder at any
time and from time to time, in whole or in part; subject, however, to payment of any break funding
indemnification amounts owing pursuant to paragraph 7 below.

7. Yield Protection; Break Funding Indemnification. The Borrower shall pay to the Bank on
written demand therefor, together with the written evidence of the justification therefor, all
direct costs incurred, losses suffered or payments made by Bank by reason of any change in law or
regulation or its interpretation imposing any reserve, deposit, allocation of capital, or similar
requirement (including without limitation, Regulation D of the Board of Governors of the Federal
Reserve System) on the Bank, its holding company or any of their

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respective assets. In addition, the Borrower agrees to indemnify the Bank against any liabilities,
losses or expenses (including, without limitation, loss of margin, any loss or expense sustained or
incurred in liquidating or employing deposits from third parties, and any loss or expense incurred
in connection with funds acquired to effect, fund or maintain any amounts hereunder (or any part
thereof) bearing interest under LIBOR which the Bank sustains or incurs as a consequence of either
(i) the Borrower’s failure to make a payment on the due date thereof, (ii) the Borrower’s
revocation (expressly, by later inconsistent notices or otherwise) in whole or in part of any
notice given to Bank to request, convert, renew or prepay any amounts bearing interest under LIBOR,
or (iii) the Borrower’s payment or prepayment (whether voluntary, after acceleration of the
maturity of this Note or otherwise) or conversion of any amounts bearing interest under LIBOR on a
day other than the regularly scheduled due date therefor. A notice as to any amounts payable
pursuant to this paragraph given to the Borrower by the Bank shall, in the absence of manifest
error, be conclusive and shall be payable upon demand. The Borrower’s indemnification obligations
hereunder shall survive the payment in full of all amounts payable hereunder.

8.   Other Loan Documents. This Note is issued in connection with a letter agreement or
loan agreement between the Borrower and the Bank, dated on or before the date hereof, and the other
agreements and documents executed and/or delivered in connection therewith or referred to therein,
the terms of which are incorporated herein by reference (as amended, modified or renewed from time
to time, collectively the “Loan Documents”), and is secured by the property (if any) described in
the Loan Documents and by such other collateral as previously may have been or may in the future be
granted to the Bank to secure this Note.

9. Events of Default. The occurrence of any of the following events will be deemed to be an
“Event of Default” under this Note: (i) the nonpayment of any principal, interest or other
indebtedness under this Note when due; (ii) the occurrence of any event of default or any default
and the lapse of any notice or cure period, or any Obligor’s failure to observe or perform any
covenant or other agreement, under or contained in any Loan Document or any other document now or
in the future evidencing or securing any debt, liability or obligation of any Obligor to the Bank;
(iii) the filing by or against any Obligor of any proceeding in bankruptcy, receivership,
insolvency, reorganization, liquidation, conservatorship or similar proceeding (and, in the case of
any such proceeding instituted against any Obligor, such proceeding is not dismissed or stayed
within 30 days of the commencement thereof, provided that the Bank shall not be obligated to
advance additional funds hereunder during such period); (iv) any assignment by any Obligor for the
benefit of creditors, or any levy, garnishment, attachment or similar proceeding is instituted
against any property of any Obligor held by or deposited with the Bank; (v) a default with respect
to any other indebtedness of any Obligor for borrowed money, if the effect of such default is to
cause or permit the acceleration of such debt; (vi) the commencement of any foreclosure or
forfeiture proceeding, execution or attachment against any collateral securing the obligations of
any Obligor to the Bank; (vii) the entry of a final judgment against any Obligor and the failure of
such Obligor to discharge the judgment within ten (10) days of the entry thereof; (viii) any
material adverse change in any Obligor’s business, assets, operations, financial condition or
results of operations; (ix) any Obligor ceases doing business as a going concern; (x) any
representation or warranty made by any Obligor to the Bank in any Loan Document or any other
documents now or in the future evidencing or securing the obligations of any Obligor to the Bank,
is false, erroneous or misleading in any material respect; (xi) if this Note or any guarantee
executed by any Obligor is secured, the failure of any Obligor to provide the Bank with additional
collateral if in the Bank’s opinion at any time or times, the market value of any of the collateral
securing this Note or any guarantee has depreciated below that required pursuant to the Loan
Documents or, if no specific value is so required, then in an amount deemed material by the Bank;
(xii) a Change of Control; (xiii) the revocation or attempted revocation, in whole or in part, of
any guarantee by any Obligor; (xiv) any governmental authority makes an application to vacate any
Financial Institution Subsidiary’s charter or designates and appoints a liquidator or receiver to
take charge of any Financial Institution Subsidiary’s assets and affairs; (xv) the Federal Deposit
Insurance Corporation (FDIC) notifies any Financial Institution Subsidiary of its intent to
terminate such Financial Institution Subsidiary’s status as an insured bank; (xvi) the FDIC or any
other federal or state regulatory authority issues a cease and desist order or takes other action
of a disciplinary or remedial nature against any Obligor or any subsidiary and such order or other
action could reasonably be expected to have a material adverse effect on the business, assets,
operations, financial condition or results of operations of the Obligor or the Obligor and its
subsidiaries taken as a whole; or (xvii) with respect to any Financial Institution Subsidiary, the
occurrence of any event that is grounds for the required submission of a capital restoration plan
under 12 U.S.C. Section 1831o(e)(2) and the regulations

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thereunder. As used herein, (a) the term “Obligor” means any Borrower and any guarantor of, or any
pledgor, mortgagor or other person or entity providing collateral support for, the Borrower’s
obligations to the Bank existing on the date of this Note or arising in the future and (b) the term
“Change of Control” means an event or series of events by which any person, or any two or more
persons acting in concert, acquire beneficial ownership (within the meaning of Rule 13d-3 of the
Securities and Exchange Commission under the Securities Exchange Act of 1934), directly or
indirectly, of 30% or more of the outstanding shares of voting stock of the Borrower (or other
securities convertible into such voting stock).

Upon the occurrence of an Event of Default: (a) the Bank shall be under no further obligation to
make advances hereunder; (b) if an Event of Default specified in clause (iii) or (iv) above shall
occur, the outstanding principal balance and accrued interest hereunder together with any
additional amounts payable hereunder shall be immediately due and payable without demand or notice
of any kind; (c) if any other Event of Default shall occur, the outstanding principal balance and
accrued interest hereunder together with any additional amounts payable hereunder, at the Bank’s
option and without demand or notice of any kind, may be accelerated and become immediately due and
payable; (d) at the Bank’s option, this Note will bear interest at the Default Rate from the date
of the occurrence of the Event of Default; and (e) the Bank may exercise from time to time any of
the rights and remedies available under the Loan Documents or under applicable law.

10. Right of Setoff. In addition to all liens upon and rights of setoff against the
Borrower’s money, securities or other property given to the Bank by law, the Bank shall have, with
respect to the Borrower’s obligations to the Bank under this Note and to the extent permitted by
law, a contractual possessory security interest in and a contractual right of setoff against, and
the Borrower hereby grants the Bank a security interest in, and hereby assigns, conveys, delivers,
pledges and transfers to the Bank, all of the Borrower’s right, title and interest in and to, all
of the Borrower’s deposits, moneys, securities and other property now or hereafter in the
possession of or on deposit with, or in transit to, the Bank or any other direct or indirect
subsidiary of The PNC Financial Services Group, Inc., whether held in a general or special account
or deposit, whether held jointly with someone else, or whether held for safekeeping or otherwise,
excluding, however, all IRA, Keogh, and trust accounts. Every such security interest and right of
setoff may be exercised without demand upon or notice to the Borrower. Every such right of setoff
shall be deemed to have been exercised immediately upon the occurrence of an Event of Default
hereunder without any action of the Bank, although the Bank may enter such setoff on its books and
records at a later time.

11. Indemnity. The Borrower agrees to indemnify each of the Bank, each legal entity, if
any, who controls, is controlled by or is under common control with the Bank, and each of their
respective directors, officers and employees (the “Indemnified Parties”), and to hold each
Indemnified Party harmless from and against any and all claims, damages, losses, liabilities and
expenses (including all fees and charges of internal or external counsel with whom any Indemnified
Party may consult and all expenses of litigation and preparation therefor) which any Indemnified
Party may incur or which may be asserted against any Indemnified Party by any person, entity or
governmental authority (including any person or entity claiming derivatively on behalf of the
Borrower), in connection with or arising out of or relating to the matters referred to in this Note
or in the other Loan Documents or the use of any advance hereunder, whether (a) arising from or
incurred in connection with any breach of a representation, warranty or covenant by the Borrower,
or (b) arising out of or resulting from any suit, action, claim, proceeding or governmental
investigation, pending or threatened, whether based on statute, regulation or order, or tort, or
contract or otherwise, before any court or governmental authority; provided,
however, that the foregoing indemnity agreement shall not apply to any claims, damages,
losses, liabilities and expenses solely attributable to an Indemnified Party’s gross negligence or
willful misconduct. The indemnity agreement contained in this Section shall survive the
termination of this Note, payment of any amounts hereunder and the assignment of any rights
hereunder. The Borrower may participate at its expense in the defense of any such action or claim.

12. Miscellaneous.   All notices, demands, requests, consents, approvals and other
communications required or permitted hereunder (“Notices”) must be in writing (except as may be
agreed otherwise above with respect to borrowing requests) and will be effective upon receipt.
Notices may be given in any manner to which the parties may separately agree, including electronic
mail. Without limiting the foregoing, first-class mail, facsimile transmission and commercial
courier service are hereby agreed to as acceptable methods for giving Notices.

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Regardless of the manner in which provided, Notices may be sent to a party’s address as set forth
above or to such other address as any party may give to the other for such purpose in accordance
with this paragraph. No delay or omission on the Bank’s part to exercise any right or power
arising hereunder will impair any such right or power or be considered a waiver of any such right
or power, nor will the Bank’s action or inaction impair any such right or power. The Bank’s rights
and remedies hereunder are cumulative and not exclusive of any other rights or remedies which the
Bank may have under other agreements, at law or in equity. No modification, amendment or waiver
of, or consent to any departure by the Borrower from, any provision of this Note will be effective
unless made in a writing signed by the Bank, and then such waiver or consent shall be effective
only in the specific instance and for the purpose for which given. The Borrower agrees to pay on
demand, to the extent permitted by law, all costs and expenses incurred by the Bank in the
enforcement of its rights in this Note and in any security therefor, including without limitation
reasonable fees and expenses of the Bank’s counsel. If any provision of this Note is found to be
invalid, illegal or unenforceable in any respect by a court, all the other provisions of this Note
will remain in full force and effect. The Borrower and all other makers and indorsers of this Note
hereby forever waive presentment, protest, notice of dishonor and notice of non-payment. The
Borrower also waives all defenses based on suretyship or impairment of collateral. If this Note is
executed by more than one Borrower, the obligations of such persons or entities hereunder will be
joint and several. This Note shall bind the Borrower and its heirs, executors, administrators,
successors and assigns, and the benefits hereof shall inure to the benefit of the Bank and its
successors and assigns; provided, however, that the Borrower may not assign this
Note in whole or in part without the Bank’s written consent and the Bank at any time may assign
this Note in whole or in part.

This Note has been delivered to and accepted by the Bank and will be deemed to be made in the State
where the Bank’s office indicated above is located. This Note will be interpreted and the
rights and liabilities of the Bank and the Borrower determined in accordance with the laws of the
State where the Bank’s office indicated above is located, excluding its conflict of laws
rules. The Borrower hereby irrevocably consents to the exclusive jurisdiction of any state or
federal court in the county or judicial district where the Bank’s office indicated above is
located; provided that nothing contained in this Note will prevent the Bank from bringing any
action, enforcing any award or judgment or exercising any rights against the Borrower individually,
against any security or against any property of the Borrower within any other county, state or
other foreign or domestic jurisdiction. The Borrower acknowledges and agrees that the venue
provided above is the most convenient forum for both the Bank and the Borrower. The Borrower
waives any objection to venue and any objection based on a more convenient forum in any action
instituted under this Note.

13. WAIVER OF JURY TRIAL. The Borrower irrevocably waives any and all rights the
Borrower may have to a trial by jury in any action, proceeding or claim of any nature relating to
this Note, any documents executed in connection with this Note or any transaction contemplated in
any of such documents. The Borrower acknowledges that the foregoing waiver is knowing and
voluntary.

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The Borrower acknowledges that it has read and understood all the provisions of this Note,
including the waiver of jury trial, and has been advised by counsel as necessary or appropriate.

WITNESS the due execution hereof as a document under seal, as of the date first written above, with
the intent to be legally bound hereby.

	 	 	 	 	 	 	 
	WITNESS / ATTEST:	 	PARKVALE FINANCIAL CORPORATION	 	 
	 
	 	 	 	 	 	 
	                        /s/ Deborah M. Cardillo
 

Print Name: Deborah M. Cardillo

	 	By:
	 	/s/ Robert J. McCarthy, Jr.
 

(SEAL)

	 	 
	Title: Corporate Secretary	 	Print Name: Robert J. McCarthy, Jr.	 	 
	 	 	Title: President & Chief Executive Officer	 	 

- 7 -EX-10.3

Exhibit 10.3

	 	 	 
	Pledge Agreement

(Stocks, Bonds and Commercial Paper)

	 	

     THIS PLEDGE AGREEMENT, dated as of this 30th day of December, 2008, is made by PARKVALE
FINANCIAL CORPORATION (the “Pledgor”), with an address at 4220 William Penn Highway, Monroeville,
PA, 15146, in favor of PNC BANK, NATIONAL ASSOCIATION (the “Secured Party”), with an address at One
PNC Plaza, 249 Fifth Avenue, Pittsburgh, Pennsylvania 15222-2707.

     1. Pledge. In order to induce the Secured Party to extend the Obligations (as defined
below), the Pledgor hereby grants a security interest in and pledges to the Secured Party, and to
all other direct or indirect subsidiaries of The PNC Financial Services Group, Inc., all of the
Pledgor’s right, title and interest in and to the investment property and other assets described in
Exhibit A attached hereto and made a part hereof, and all security entitlements of the Pledgor with
respect thereto, whether now owned or hereafter acquired, together with all additions,
substitutions, replacements and proceeds thereof and all income, interest, dividends and other
distributions thereon (collectively, the “Collateral”). If the Collateral includes certificated
securities, documents or instruments, such certificates are herewith delivered to the Secured Party
accompanied by duly executed blank stock or bond powers or assignments as applicable. The Pledgor
hereby authorizes the transfer of possession of all certificates, instruments, documents and other
evidence of the Collateral to the Secured Party.

     2. Obligations Secured. The Collateral secures payment of all loans, advances, debts,
liabilities, obligations, covenants and duties owing from the Pledgor (the “Borrower”) to the
Secured Party or to any other direct or indirect subsidiary of The PNC Financial Services Group,
Inc., of any kind or nature, present or future (including any interest accruing thereon after
maturity, or after the filing of any petition in bankruptcy, or the commencement of any insolvency,
reorganization or like proceeding relating to the Pledgor or the Borrower, whether or not a claim
for post-filing or post-petition interest is allowed in such proceeding), whether direct or
indirect (including those acquired by assignment or participation), absolute or contingent, joint
or several, due or to become due, now existing or hereafter arising, whether or not (i) evidenced
by any note, guaranty or other instrument, (ii) arising under any agreement, instrument or
document, (iii) for the payment of money, (iv) arising by reason of an extension of credit, opening
of a letter of credit, loan, equipment lease or guarantee, (v) under any interest or currency swap,
future, option or other interest rate protection or similar agreement, (vi) under or by reason of
any foreign currency transaction, forward, option or other similar transaction providing for the
purchase of one currency in exchange for the sale of another currency, or in any other manner, or
(vii) arising out of overdrafts on deposit or other accounts or out of electronic funds transfers
(whether by wire transfer or through automated clearing houses or otherwise) or out of the return
unpaid of, or other failure of the Secured Party to receive final payment for, any check, item,
instrument, payment order or other deposit or credit to a deposit or other account, or out of the
Secured Party’s non-receipt of or inability to collect funds or otherwise not being made whole in
connection with depository or other similar arrangements; and any amendments, extensions, renewals
and increases of or to any of the foregoing, and all costs and expenses of the Secured Party
incurred in the documentation, negotiation, modification, enforcement, collection and otherwise in
connection with any of the foregoing, including reasonable attorneys’ fees and expenses
(hereinafter referred to collectively as the “Obligations”).

     3. Representations and Warranties. The Pledgor represents and warrants to the Secured
Party as follows:

          3.1 There are no restrictions on the pledge or transfer of any of the Collateral, other than
restrictions referenced on the face of any certificates evidencing the Collateral.

          3.2 The Pledgor is the legal owner of the Collateral, which is registered in the name of the
Pledgor, the Custodian (as hereinafter defined) or a nominee.

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— Multistate Rev. 01/02

 

 

          3.3 The Collateral is free and clear of any security interests, pledges, liens, encumbrances,
charges, agreements, claims or other arrangements or restrictions of any kind, except as referenced
in Section 3.1 above; and the Pledgor will not incur, create, assume or permit to exist any pledge,
security interest, lien, charge or other encumbrance of any nature whatsoever on any of the
Collateral or assign, pledge or otherwise encumber any right to receive income from the Collateral,
other than in favor of the Secured Party.

          3.4 The Pledgor has the right to transfer the Collateral free of any encumbrances and the
Pledgor will defend the Pledgor’s title to the Collateral against the claims of all persons, and
any registration with, or consent or approval of, or other action by, any federal, state or other
governmental authority or regulatory body which was or is necessary for the validity of the pledge
of and grant of the security interest in the Collateral has been obtained.

          3.5 The pledge of and grant of the security interest in the Collateral is effective to vest in
the Secured Party a valid and perfected first priority security interest, superior to the rights of
any other person, in and to the Collateral as set forth herein.

     4. Covenants.

          4.1 If all or part of the Collateral constitutes “margin stock” within the meaning of
Regulation U of the Federal Reserve Board, the Pledgor agrees, or if the Pledgor is not the
Borrower, it shall cause the Borrower, to execute and deliver Form U-1 to the Secured Party and,
unless otherwise agreed in writing between the Borrower and the Secured Party, no part of the
proceeds of the Obligations may be used to purchase or carry margin stock.

          4.2 Pledgor agrees not to invoke, and hereby waives its rights under, any statute under any
state or federal law which permits the recharacterization of any portion of the Collateral to be
interest or income.

     5. Default.

          5.1 If any of the following occur (each an “Event of Default”): (i) any Event of Default (as
defined in any of the Obligations), (ii) any default under any of the Obligations that does not
have a defined set of “Events of Default” and the lapse of any notice or cure period provided in
such Obligations with respect to such default, (iii) demand by the Secured Party under any of the
Obligations that have a demand feature, (iv) the failure by the Pledgor to perform any of its
obligations hereunder, (v) the falsity, inaccuracy or material breach by the Pledgor of any written
warranty, representation or statement made or furnished to the Secured Party by or on behalf of the
Pledgor, (vi) the failure of the Secured Party to have a perfected first priority security interest
in the Collateral, (vii) any restriction is imposed on the pledge or transfer of any of the
Collateral after the date of this Agreement without the Secured Party’s prior written consent, or
(viii) the breach of the Control Agreement (referred to in Section 8 below), or receipt of notice
of termination of the Control Agreement if no successor custodian acceptable to the Secured Party
has executed a Control Agreement in form and substance acceptable to the Secured Party on or before
10 days prior to the effective date of the termination, then the Secured Party is authorized in its
discretion to declare any or all of the Obligations to be immediately due and payable without
demand or notice, which are expressly waived, and may exercise any one or more of the rights and
remedies granted pursuant to this Pledge Agreement or given to a secured party under the Uniform
Commercial Code of the applicable state, as it may be amended from time to time, or otherwise at
law or in equity, including without limitation the right to issue a Notice of Exclusive Control (as
defined in the Control Agreement) to the Custodian, and/or to sell or otherwise dispose of any or
all of the Collateral at public or private sale, with or without advertisement thereof, upon such
terms and conditions as it may deem advisable and at such prices as it may deem best.

          5.2 (a) At any bona fide public sale, and to the extent permitted by law, at any private sale,
the Secured Party shall be free to purchase all or any part of the Collateral, free of any right or
equity of redemption in the Pledgor or Borrower, which right or equity is hereby waived and
released. Any such sale may

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be on cash or credit. The Secured Party shall be authorized at any such sale (if it deems it
advisable to do so) to restrict the prospective bidders or purchasers to persons who will represent
and agree that they are purchasing the Collateral for their own account in compliance with
Regulation D of the Securities Act of 1933 (the “Act”) or any other applicable exemption available
under such Act. The Secured Party will not be obligated to make any sale if it determines not to
do so, regardless of the fact that notice of the sale may have been given. The Secured Party may
adjourn any sale and sell at the time and place to which the sale is adjourned. If the Collateral
is customarily sold on a recognized market or threatens to decline speedily in value, the Secured
Party may sell such Collateral at any time without giving prior notice to the Pledgor. Whenever
notice is otherwise required by law to be sent by the Secured Party to the Pledgor of any sale or
other disposition of the Collateral, ten (10) days written notice sent to the Pledgor at its
address specified above will be reasonable.

               (b) The Pledgor recognizes that the Secured Party may be unable to effect or cause to be
effected a public sale of the Collateral by reason of certain prohibitions contained in the Act, so
that the Secured Party may be compelled to resort to one or more private sales to a restricted
group of purchasers who will be obligated to agree, among other things, to acquire the Collateral
for their own account, for investment and without a view to the distribution or resale thereof.
The Pledgor understands that private sales so made may be at prices and on other terms less
favorable to the seller than if the Collateral were sold at public sales, and agrees that the
Secured Party has no obligation to delay or agree to delay the sale of any of the Collateral for
the period of time necessary to permit the issuer of the securities which are part of the
Collateral (even if the issuer would agree), to register such securities for sale under the Act.
The Pledgor agrees that private sales made under the foregoing circumstances shall be deemed to
have been made in a commercially reasonable manner.

          5.3 The net proceeds arising from the disposition of the Collateral after deducting expenses
incurred by the Secured Party will be applied to the Obligations in the order determined by the
Secured Party. If any excess remains after the discharge of all of the Obligations, the same will
be paid to the Pledgor. If after exhausting all of the Collateral there is a deficiency, the
Pledgor or, if the Pledgor is not borrowing from the Secured Party or providing a guaranty of the
Borrower’s obligations, the Borrower will be liable therefor to the Secured Party;
provided, however, that nothing contained herein will obligate the Secured Party to
proceed against the Pledgor, the Borrower or any other party obligated under the Obligations or
against any other collateral for the Obligations prior to proceeding against the Collateral.

          5.4 If any demand is made at any time upon the Secured Party for the repayment or recovery of
any amount received by it in payment or on account of any of the Obligations and if the Secured
Party repays all or any part of such amount by reason of any judgment, decree or order of any court
or administrative body or by reason of any settlement or compromise of any such demand, the Pledgor
will be and remain liable for the amounts so repaid or recovered to the same extent as if such
amount had never been originally received by the Secured Party. The provisions of this section
will be and remain effective notwithstanding the release of any of the Collateral by the Secured
Party in reliance upon such payment (in which case the Pledgor’s liability will be limited to an
amount equal to the fair market value of the Collateral determined as of the date such Collateral
was released) and any such release will be without prejudice to the Secured Party’s rights
hereunder and will be deemed to have been conditioned upon such payment having become final and
irrevocable. This Section shall survive the termination of this Pledge Agreement.

     6. Voting Rights and Transfer. Prior to the occurrence of an Event of Default, the
Pledgor will have the right to exercise all voting rights with respect to the Collateral. At any
time after the occurrence of an Event of Default, the Secured Party may transfer any or all of the
Collateral into its name or that of its nominee and may exercise all voting rights with respect to
the Collateral, but no such transfer shall constitute a taking of such Collateral in satisfaction
of any or all of the Obligations unless the Secured Party expressly so indicates by written notice
to the Pledgor.

     7. Dividends, Interest and Premiums. The Pledgor will have the right to receive all
cash dividends, interest and premiums declared and paid on the Collateral prior to the occurrence
of any Event of Default. In the event any additional shares are issued to the Pledgor as a stock
dividend or in lieu of interest on any of the Collateral, as a result of any split of any of the
Collateral, by reclassification or otherwise, any

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certificates evidencing any such additional shares will be immediately delivered to the Secured
Party and such shares will be subject to this Pledge Agreement and a part of the Collateral to the
same extent as the original Collateral. At any time after the occurrence of an Event of Default,
the Secured Party shall be entitled to receive all cash or stock dividends, interest and premiums
declared or paid on the Collateral, all of which shall be subject to the Secured Party’s rights
under Section 5 above.

     8. Securities Account. If the Collateral includes securities or any other financial
or other asset maintained in a securities account, then the Pledgor agrees to cause the securities
intermediary on whose books and records the ownership interest of the Pledgor in the Collateral
appears (the “Custodian”) to execute and deliver, contemporaneously herewith, a notification and
control agreement or other agreement (the “Control Agreement”) satisfactory to the Secured Party in
order to perfect and protect the Secured Party’s security interest in the Collateral.

     9. Further Assurances. By its signature hereon, the Pledgor hereby irrevocably
authorizes the Secured Party, at any time and from time to time, to execute (on behalf of the
Pledgor), file and record against the Pledgor any notice, financing statement, continuation
statement, amendment statement, instrument, document or agreement under the Uniform Commercial Code
that the Secured Party may consider necessary or desirable to create, preserve, continue, perfect
or validate any security interest granted hereunder or to enable the Secured Party to exercise or
enforce its rights hereunder with respect to such security interest. Without limiting the
generality of the foregoing, the Pledgor hereby irrevocably appoints the Secured Party as the
Pledgor’s attorney-in-fact to do all acts and things in the Pledgor’s name that the Secured Party
may deem necessary or desirable. This power of attorney is coupled with an interest with full
power of substitution and is irrevocable. The Pledgor hereby ratifies all that said attorney shall
lawfully do or cause to be done by virtue hereof.

     10. Notices.  All notices, demands, requests, consents, approvals and other
communications required or permitted hereunder (“Notices”) must be in writing and will be effective
upon receipt. Notices may be given in any manner to which the parties may separately agree,
including electronic mail. Without limiting the foregoing, first-class mail, facsimile transmission
and commercial courier service are hereby agreed to as acceptable methods for giving Notices.
Regardless of the manner in which provided, Notices may be sent to a party’s address as set forth
above or to such other address as either the Pledgor or the Secured Party may give to the other for
such purpose in accordance with this section.

     11. Preservation of Rights.  (a) No delay or omission on the Secured Party’s part to
exercise any right or power arising hereunder will impair any such right or power or be considered
a waiver of any such right or power, nor will the Secured Party’s action or inaction impair any
such right or power. The Secured Party’s rights and remedies hereunder are cumulative and not
exclusive of any other rights or remedies which the Secured Party may have under other agreements,
at law or in equity.

          (b) The Secured Party may, at any time and from time to time, without notice to or the consent
of the Pledgor unless otherwise expressly required pursuant to the terms of the Obligations, and
without impairing or releasing, discharging or modifying the Pledgor’s liabilities hereunder,
(i) change the manner, place, time or terms of payment or performance of or interest rates on, or
other terms relating to, any of the Obligations; (ii) renew, substitute, modify, amend or alter, or
grant consents or waivers relating to any of the Obligations, any other pledge or security
agreements, or any security for any Obligations; (iii) apply any and all payments by whomever paid
or however realized including any proceeds of any collateral, to any Obligations of the Pledgor or
the Borrower in such order, manner and amount as the Secured Party may determine in its sole
discretion; (iv) deal with any other person with respect to any Obligations in such manner as the
Secured Party deems appropriate in its sole discretion; (v) substitute, exchange or release any
security or guaranty; or (vi) take such actions and exercise such remedies hereunder as provided
herein. The Pledgor hereby waives (a) presentment, demand, protest, notice of dishonor and notice
of non-payment and all other notices to which the Pledgor might otherwise be entitled, and (b) all
defenses based on suretyship or impairment of collateral.

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     12. Illegality. In case any one or more of the provisions contained in this Pledge
Agreement should be invalid, illegal or unenforceable in any respect, it shall not affect or impair
the validity, legality and enforceability of the remaining provisions in this Pledge Agreement.

     13. Changes in Writing. No modification, amendment or waiver of, or consent to any
departure by the Pledgor from, any provision of this Pledge Agreement will be effective unless made
in a writing signed by the Secured Party, and then such waiver or consent shall be effective only
in the specific instance and for the purpose for which given. No notice to or demand on the
Pledgor in any case will entitle the Pledgor to any other or further notice or demand in the same,
similar or other circumstance.

     14. Entire Agreement. This Pledge Agreement (including the documents and instruments
referred to herein) constitutes the entire agreement and supersedes all other prior agreements and
understandings, both written and oral, between the Pledgor and the Secured Party with respect to
the subject matter hereof.

     15. Successors and Assigns. This Pledge Agreement will be binding upon and inure to
the benefit of the Pledgor and the Secured Party and their respective heirs, executors,
administrators, successors and assigns; provided, however, that the Pledgor may not
assign this Pledge Agreement in whole or in part without the Secured Party’s prior written consent
and the Secured Party at any time may assign this Pledge Agreement in whole or in part.

     16. Interpretation. In this Pledge Agreement, unless the Secured Party and the
Pledgor otherwise agree in writing, the singular includes the plural and the plural the singular;
references to statutes are to be construed as including all statutory provisions consolidating,
amending or replacing the statute referred to; the word “or” shall be deemed to include “and/or”,
the words “including”, “includes” and “include” shall be deemed to be followed by the words
“without limitation”; and references to agreements and other contractual instruments shall be
deemed to include all subsequent amendments and other modifications to such instruments, but only
to the extent such amendments and other modifications are not prohibited by the terms of this
Pledge Agreement. Section headings in this Pledge Agreement are included for convenience of
reference only and shall not constitute a part of this Pledge Agreement for any other purpose. If
this Pledge Agreement is executed by more than one party as Pledgor, the obligations of such
persons or entities will be joint and several.

     17. Indemnity. The Pledgor agrees to indemnify each of the Secured Party, each legal
entity, if any, who controls, is controlled by or is under common control with the Secured Party,
and each of their respective directors, officers and employees (the “Indemnified Parties”), and to
hold each Indemnified Party harmless from and against, any and all claims, damages, losses,
liabilities and expenses (including all fees and charges of internal or external counsel with whom
any Indemnified Party may consult and all expenses of litigation or preparation therefor) which any
Indemnified Party may incur, or which may be asserted against any Indemnified Party by any person,
entity or governmental authority (including any person or entity claiming derivatively on behalf of
the Pledgor), in connection with or arising out of or relating to the matters referred to in this
Pledge Agreement or under any Control Agreement, whether (a) arising from or incurred in connection
with any breach of a representation, warranty or covenant by the Pledgor, or (b) arising out of or
resulting from any suit, action, claim, proceeding or governmental investigation, pending or
threatened, whether based on statute, regulation or order, or tort, or contract or otherwise,
before any court or governmental authority; provided, however, that the foregoing
indemnity agreement shall not apply to claims, damages, losses, liabilities and expenses solely
attributable to an Indemnified Party’s gross negligence or willful misconduct. The indemnity
agreement contained in this Section shall survive the termination of this Pledge Agreement. The
Pledgor may participate at its expense in the defense of any such action or claim.

     18. Governing Law and Jurisdiction. This Pledge Agreement has been delivered to and
accepted by the Secured Party and will be deemed to be made in the State where the Secured Party’s
office indicated above is located. This Pledge Agreement will be interpreted and the rights
and liabilities of the Pledgor and the Secured Party determined in accordance with the laws of the
State where the Secured Party’s office indicated above is located, excluding its conflict of laws
rules. The Pledgor hereby irrevocably consents to the exclusive jurisdiction of any state or
federal court in the county or

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judicial district where the Secured Party’s office indicated above is located; provided that
nothing contained in this Pledge Agreement will prevent the Secured Party from bringing any action,
enforcing any award or judgment or exercising any rights against the Pledgor individually, against
any security or against any property of the Pledgor within any other county, state or other foreign
or domestic jurisdiction. The Pledgor acknowledges and agrees that the venue provided above is the
most convenient forum for both the Secured Party and the Pledgor. The Pledgor waives any objection
to venue and any objection based on a more convenient forum in any action instituted under this
Pledge Agreement.

     19. Authorization to Obtain Credit Reports. By signing below, each Pledgor who is an
individual provides written authorization to the Secured Party or its designee (and any assignee or
potential assignee hereof) to obtain the Pledgor’s personal credit profile from one or more
national credit bureaus. Such authorization shall extend to obtaining a credit profile in
considering this Pledge Agreement and subsequently for the purposes of update, renewal or extension
of such credit or additional credit and for reviewing or collecting the resulting account.

     20. WAIVER OF JURY TRIAL. THE PLEDGOR IRREVOCABLY WAIVES ANY AND ALL RIGHT THE
PLEDGOR MAY HAVE TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR CLAIM OF ANY NATURE RELATING TO
THIS PLEDGE AGREEMENT, ANY DOCUMENTS EXECUTED IN CONNECTION WITH THIS PLEDGE AGREEMENT OR ANY
TRANSACTION CONTEMPLATED IN ANY OF SUCH DOCUMENTS. THE PLEDGOR ACKNOWLEDGES THAT THE FOREGOING
WAIVER IS KNOWING AND VOLUNTARY.

The Pledgor acknowledges that it has read and understood all the provisions of this Pledge
Agreement, including the waiver of jury trial, and has been advised by counsel as necessary or
appropriate.

WITNESS the due execution hereof as a document under seal, as of the date first written above, with
the intent to be legally bound hereby.

	 	 	 	 	 	 	 	 	 
	WITNESS / ATTEST:	 	 	 	PARKVALE FINANCIAL CORPORATION
	 
	 	 	 	 	 	 	 	 
	/s/ Deborah M. Cardillo	 	 	 	By:	 	/s/ Timothy G. Rubritz
	 	 	 	 	 	 	 
	Print Name:
Deborah M Cardillo
	 	 	 	 	 	(SEAL)
	Title:

Corporate Secretary
	 	 	 	Print Name:
Timothy G. Rubritz
	

	 	
	 	 	 	Title: Vice President, Treasurer and CFO

Form 11A
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EXHIBIT A TO PLEDGE AGREEMENT

(CERTIFICATED SECURITIES)

The specific assets listed below are pledged as collateral and are restricted from trading and
withdrawals. The Secured Party’s written approval is required prior to any trading or withdrawals
of such assets.

	 	 	 	 	 	 	 
	Quantity	 	Description of Securities	 	Certificate Number
	1,000 shares

	 	All issued and outstanding
shares of Parkvale Savings Bank
	 	 	02	 

Form 11A
— Multistate Rev. 01/02

B-1

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