On
September 26, 2007, Yardville National Bancorp (the “Company” or “Yardville”)
began sending written notices to holders of options to purchase shares of
the
Company’s class of common stock regarding the effect of the proposed merger
between the Company and The PNC Financial Services Group, Inc. (“PNC”) on such
options. Copies of such notices are attached hereto as Exhibits 99.1
and 99.2 and are incorporated herein by reference.
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Cautionary
Statement Regarding Forward-Looking
Statements
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This
report and other statements made from time to time by the Company’s management
contain express and implied statements relating to the Company’s future
financial condition, results of operations, plans, objectives, performance,
and
business, which are considered forward-looking statements. These may include
statements that relate to, among other things, profitability, liquidity,
adequacy of the allowance for loan losses, plans for growth, interest rate
sensitivity, market risk, regulatory compliance, and financial and other
goals.
Although we believe that the expectations reflected in such forward-looking
statements are based on reasonable assumptions, our expectations may not
be
achieved. Actual results may differ materially from those expected or
implied as a result of certain risks and uncertainties, including, but not
limited to: adverse changes in our loan quality and the resulting credit
risk-related losses and expenses; levels of our loan origination volume;
the
results of our efforts to implement our retail strategy and attract core
deposits; compliance with laws and regulatory requirements, including our
formal
agreement with the Office of the Comptroller of the Currency, and compliance
with NASDAQ standards; interest rate changes and other economic conditions;
proxy contests and litigation; continued relationships with major customers;
competition in product offerings and product pricing; adverse changes in
the
economy that could increase credit-related losses and expenses; adverse changes
in the market price of our common stock; and other risks and uncertainties
detailed from time to time in our filings with the United States Securities
and
Exchange Commission (the “SEC”), as well as other risks and uncertainties
detailed from time to time in statements made by our management. The
Company assumes no obligation to update or supplement forward- looking
statements except as may be required by applicable law or
regulation.
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Additional
Information About The PNC
Merger
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PNC
and
Yardville have filed with the SEC a proxy statement/prospectus and other
relevant documents concerning the proposed merger.
WE
URGE
INVESTORS TO READ THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER DOCUMENTS
FILED
WITH THE SEC IN CONNECTION WITH THE MERGER OR INCORPORATED BY REFERENCE IN
THE
PROXY STATEMENT/PROSPECTUS, BECAUSE THEY CONTAIN IMPORTANT
INFORMATION.
Investors
may obtain these documents free of charge at the SEC’s web site
(www.sec.gov). In addition, documents filed with the SEC by PNC will
be available free of charge from Shareholder Relations at (800) 843-2206.
Documents filed with the SEC by Yardville will be available free of charge
from
Yardville by contacting Howard N. Hall, Assistant Treasurer’s Office, 2465 Kuser
Road, Hamilton, NJ 08690 or by calling (609) 631-6223.
The
directors, executive officers, and certain other members of management and
employees of Yardville are participants in the solicitation of proxies in
favor
of the merger from the shareholders of Yardville. Information about
the directors and executive officers of Yardville is set forth in its Annual
Report on Form 10-K filed on March 30, 2007 for the year ended December 31,
2006, as amended by the Form 10-K/A filed on May 10, 2007. Additional
information regarding the interests of such participants is included in the
proxy statement/prospectus and the other relevant documents filed with the
SEC.