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2005 Press Release

FOR IMMEDIATE RELEASE

Contact:
Neil Cotiaux, FHLBank of Pittsburgh: 412-288-2851; cell: 330-703-0753
Mark A. Duffy, vice president, Firstrust Bank: 610-238-5021

FIRSTRUST BANK HONORED FOR COMMUNITY-SPIRITED LENDING:
'PILLARS OF THE COMMUNITY' AWARD CITES ROLE IN SPECIAL NEEDS HOUSING

AVONDALE, PA, June 28, 2005 — Citing its financial support for independent-living projects, the Federal Home Loan Bank of Pittsburgh (FHLBank) today honored Firstrust Bank with its Pillars of the Community Award.

Each year, the FHLBank selects a single bank in each of four geographic regions for outstanding work in promoting housing for lower-income families, community revitalization and economic development. Firstrust Bank received this year's award at a gathering of regional financial institutions at Avondale, PA.

"Once a year, we recognize a handful of banks across our Delaware, Pennsylvania and West Virginia district whose twelve-month lending record displays a superior commitment to creating sustainable communities," said John J. Bendel, director of Community Investment for the FHLBank of Pittsburgh. "Firstrust Bank very effectively utilized our Affordable Housing Program (AHP) during 2004 to help create a total of 46 units of housing for low-income families and individuals, many of whom suffer from mental illness or behavioral issues, are homeless, or both. It is for this work that they are being honored."

The FHLBank of Pittsburgh is making a $1,000 donation to 1260 Housing Development Corporation in recognition of Firstrust Bank's outstanding community record.

Housing for the challenged

In 2004, Firstrust Bank extended more than $300,000 through the FHLBank's AHP to assist 1260 Housing Development Corporation in rehabilitating nine scattered-site locations across Philadelphia, resulting in clean, safe, affordable rental housing for very-low-income families and individuals with special needs.

The 1260 Permanent Independent Living Initiative, located at six locations in northwest and south Philadelphia, features three single-family and eight multi-family units, nine of which are reserved for the homeless. Case management and life skills training are being provided to residents. Pre-vocational and vocational services are also offered, including an extensive job training and job referral program. A 24-hour crisis intervention service is also available, as well as psychiatric and medical treatment.

A second project, the OCS Independent Living Project, also sponsored by 1260 Housing Development Corporation, is located at three sites in west, northeast and Center City Philadelphia. Of the 33 multi-family units, 29 are for individuals, four are for families and 28 are for persons with special needs. The project promotes the integration of individuals with behavioral health issues into the larger community with a focus on daily living and financial management skills. Comprehensive crisis intervention is available around the clock, while pre-vocational and vocational services focus on job interviewing skills, resume-writing skills and job search techniques.

Ongoing community commitment

Firstrust Bank was founded by Samuel A. Green in 1934 and is managed today by the third generation of the Green family. Headquartered in Conshohocken, PA, Firstrust Bank remains extremely active in the communities it serves. For example, its Affinity Banking Program provides special financial rewards to area nonprofits when their supporters open an account. Last year, Firstrust rallied local real estate developers for a "Firstrust Real Estate Blitz Build," making significant improvements to the Variety Club, a summer camp for children with disabilities. It also contributed more than $160,000 to charitable causes in the region.

Firstrust Bank operates 25 offices throughout the Delaware Valley, Lehigh Valley and southern New Jersey.

Pillars of the Community recipients are selected from member financial institutions of the FHLBank of Pittsburgh that have used the Bank's community investment products in the previous calendar year. Winners are selected by a Bank committee and are approved by the Affordable Housing and Community Investment Committee of the Bank's Board of Directors.

With assets of approximately $61 billion, the FHLBank of Pittsburgh, a government-sponsored enterprise that uses private capital for a public mission, serves nearly 340 financial institution members across its three-state district. It is one of twelve FHLBanks, all cooperatively owned banks that provide a steady stream of low-cost funding for housing, community lending and other development needs to its members.