INDEPENDENT ACCOUNTANT'S REPORT
Board of Directors and Stockholders
Slippery Rock Financial Corporation
We have reviewed the accompanying consolidated balance sheet of Slippery Rock
Financial Corporation and subsidiary as of June 30, 2000, and the related
consolidated statement of income for the three- and six-month periods ended
June 30, 2000 and 1999, and the consolidated statement cash flows for the
six-month periods ended June 30, 2000 and 1999, and the consolidated
statement of changes in stockholders' equity for the six-month period ended
June 30, 2000. These financial statements are the responsibility of the
Company's management.
We conducted our review in accordance with standards established by the
American Institute of Certified Public Accountants. A review of interim
financial information consists principally of applying analytical procedures
to financial data and making inquiries of persons responsible for financial
and accounting matters. It is substantially less in scope than an audit
conducted in accordance with generally accepted auditing standards, the
objective of which is the expression of an opinion regarding the financial
statements taken as a whole. Accordingly, we do not express such an opinion.
Based on our review, we are not aware of any material modifications that
should be made to the accompanying financial statements for them to be in
conformity with generally accepted accounting principles.
We have previously audited, in accordance with generally accepted auditing
standards, the consolidated balance sheet as of December 31, 1999, and the
related consolidated statements of income, changes in stockholders' equity and
cash flows for the year then ended (not presented herein); and in our report
dated February 4, 2000 we expressed an unqualified opinion on those
consolidated financial statements.
Wexford, PA
August 9, 2000
S.R. Snodgrass, A.C.
1000 Stonewood Drive
Suite 200
Wexford, PA 15090
Phone: 724-934-0344
Facsimile: 724-934-0345
