PRESS RELEASE

Contacts:
Timothy K. Zimmerman
412-856-0363

David C. Mathews
814-842-3294


FOR IMMEDIATE RELEASE:
Thursday, January 12, 2006


Standard Bank, PaSB Announces the Completion of the Acquisition of Hoblitzell National Bank of Hyndman

Monroeville Pennsylvania, January 12, 2006 -- Standard Bank, PaSB ("Standard") announced today that it completed its acquisition of Hoblitzell National Bank of Hyndman (“HNB”) in a transaction valued at approximately $16.5 million. Pursuant to the terms of the acquisition agreement between Standard and HNB, stockholders of HNB will receive $52.25 in cash for each share of HNB common stock they own.

“I would like to welcome HNB’s employees, customers and communities to the Standard family,” stated Timothy K. Zimmerman, President and Chief Executive Officer of Standard. “I am especially appreciative of all the hard work and leadership that Dave Mathews and Joy Carpenter, President and Executive Vice President of HNB, respectively, have contributed to this transaction. They have helped set a very positive tone as our staffs worked together toward the closing.”

Mr. Mathews will join the Board of Standard. Ms. Carpenter will become the Regional Coordinator in the HNB market area for Standard.

Mr. Mathews commented that, “Our customers will be served by the same individuals they are accustomed to and we will continue to distinguish the bank with excellent customer service. I believe our customers will be pleased with some new and upgraded services, like online banking and bill payment, that we will be offering”.

Established in 1913, Standard is a Pennsylvania chartered savings bank with assets of $265 million. Standard currently operates seven offices serving individuals and small to mid size businesses in Allegheny and Westmoreland Counties, Pennsylvania. Standard is a wholly owned subsidiary of Standard Mutual Holding Company, which has not issued any stock. There is no common stock traded on any exchange.

HNB had assets of $73 million, deposits of $56 million and shareholders’ equity of $7.6 million. Founded in 1903, HNB operates four offices in Bedford County in Pennsylvania and Allegany County in Maryland.

This news release may contain a number of forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, economic factors.

Neither Standard nor Hoblitzell undertakes any obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.