SLIPPERY ROCK - Slippery Rock Financial Corp. leaders listed customers, employees and communities as high priorities during their consideration of merging with another bank.

Once they found out First National Bank Corp. valued the same priorities, it was easy to choose that company for a merger over several other offers, said Bill Sonntag, president and chief executive officer of the Slippery Rock corporation.

"Their philosophy is they understand the value of being a good corporate citizen," he said of F.N.B. Corp.

First National Bank Corp. of Hermitage announced in early May it would buy First National Bank of Slippery Rock in a stock and cash transaction valued at $78.5 million. Slippery Rock stockholders still need to approve the change and that vote is expected in mid-September. The merger won't be complete until Oct. 10.

The First National Bank of Slippery Rock employs 163 people but the total number of employees who will lose their jobs in the merger still is uncertain."It's a daily changing process," said Sonntag. "(F.N.B.) has committed to place as many as possible."F.N.B. Corp. has agreed to freeze its own hiring so employees from the Slippery Rock bank can be offered positions, Sonntag said. Even employees from Slippery Rock's operations center can be placed in other branches or F.N.B. Corp. positions, he said.As for those at the Slippery Rock bank branches that are remaining open, most tellers and loan officers will be retained, he said."They want to preserve those customer relationships," he said.As for Sonntag, his position will change but his role will remain the same in many ways. He plans to work at the bank for at least three more years and will work closely with business and community development projects.Though he's been chief executive officer for 15 years and at Slippery Rock for 28, he said giving up many of his administrative duties in the merger won't be that difficult. He's looking forward to working even more closely with customers and community members because of that."One of the reasons I got into banking was customer relations," he said.He will work as a consultant for the new bank.

Overall, the customers will benefit from merger, he said."The industry is changing and this is the right thing for our bank," said Sonntag. "We will be better able to serve customers with more products, services and features."Basic accounts will remain the same, checks can be used until they run out, even after the merger, and services and hours will be expanded at the branches, said Sonntag. Customers shouldn't have to do anything while the bank is changing hands, he said.The bank also will be able to handle larger loan requests once the merger is complete, said Sonntag. Now, if the loan is too large, it must be sold to other banks that can handle that size of volume.

Slippery Rock will lose only one of its branch offices. That is in the Giant Eagle grocery store in Slippery Rock.Its two other borough branches, on Grove City Road and South Main Street, will remain open, according to Sonntag.The Plaza office on Grove City Road will likely expand hours later to absorb some of the customer base that used the Giant Eagle office, he said.One branch in Grove City will be closed as well. F.N.B. Corp. has two branches in Grove City that will absorb the customers and some employees, according to Sonntag. Those F.N.B. Corp offices are on South Broad Street and in Pine Grove Square on Route 58.Plans for the remaining branches aren't settled yet, according to Sonntag. Slippery Rock has nine now in Butler, Mercer and Lawrence counties.In Butler County, F.N.B. Corp. also has a branch in Sarver and just started building a new branch in Seven Fields.The operations center for the First National Bank of Slippery Rock in Slippery Rock Township will close. It employs about 45 people. Those functions will be taken over by the F.N.B. Corp. operations center in Hermitage.

In Slippery Rock, The First National Bank of Slippery Rock has been a community leader for years. Most recently, the bank became one of the driving forces behind the $5.2 million downtown redevelopment project. That project will be completed this fall.The bank contributed $130,000 for the project and donated office space as well as countless hours of Sonntag's time for duties related to the development.The parking lot behind the bank at South Main Street in Slippery Rock is being developed into one of the main entrances into the borough. It will include a park, a waterfall and a gazebo in addition to parking for Main Street shoppers to use.No changes are expected to these plans because of the merger, according to Sonntag.

Sonntag said of F.N.B. Corp.: "They have a philosophy of keeping officers involved in the community."Kathryn Lima, public relations director for F.N.B., agreed: "Historically, First National Bank has been a leader in every community where it has a presence."How that will translate into donations or involvement in specific communities once the merger is completed has yet to be determined, however, she said."I can say we pride ourselves in being a good citizen and good community bank," she said.The question of what branches will remain open hasn't been decided yet, Lima said. Many of the details of the merger won't be available until October, she said. Until then, First National Bank of Slippery Rock will operate as it always has.