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<p>[QUOTE=&quot;Stephan77, post: 2130999, member: 74244&quot;]<b>By Andrew Cassel, INQUIRER STAFF WRITER</b></p><p>Posted: December 03, 1994</p><p>Another Philadelphia financial institution went into the history books yesterday, as Germantown Savings Bank was formally merged into CoreStates</p><p>Financial Corp. for about $260 million in cash and stock.</p><p><br /></p><p>The deal&#039;s closing ends a process that began more than a year ago, when GSB</p><p>put itself up for sale to the highest bidder. Although it was financially healthy, the 140-year-old savings bank faced stiffening competition from still-growing giant regional banks such as CoreStates, Mellon, First Fidelity and PNC.</p><p><br /></p><p>&nbsp;- - - - - - - - -</p><p><br /></p><p>Perhaps GSB would have designated the bank mentioned, but maybe originally it was set up as GMB. Of course I may just be piling on to my original mistake.[/QUOTE]</p><p><br /></p>

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