SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report July 3, 1997
AMBANC HOLDING CO., INC.
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(Exact name of Registrant as specified in its Charter)
Delaware 0-27036 14-1783770
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(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
11 Division Street, Amsterdam, New York 12010-4303
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (518) 842-7200
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N/A
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(Former name or former address, if changed since last report)
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Item 5. Other Events
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On June 23 1997, the Registrant issued the press release attached hereto as
Exhibit 99 announcing its intentions to commence a stock repurchase program.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
AMBANC HOLDING CO., INC.
Date: July 3, 1997 By: /S/ Robert J. Brittain
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Robert J. Brittain
President & Chief Executive Officer
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Exhibit
Number Description
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99 Press release dated June 23, 1997
FOR IMMEDIATE RELEASE
Contact:
Robert J. Brittain, President & C.E.O.
(518) 842 - 7200
(518) 842 - 7500 (FAX)
AMBANC HOLDING CO., INC. ANNOUNCES STOCK REPURCHASE PROGRAM
Amsterdam, N.Y., June 23, 1997 -- Ambanc Holding Co., Inc. (NASDAQ: AHCI)
announced its intention today to repurchase up to 216,890 shares of its
outstanding common stock in the open market. The shares will be purchased at
prevailing market prices from time to time depending upon market conditions.
Robert J. Brittain, President & C.E.O. of the Company, indicated that the shares
reacquired will be used to fund awards under the Company's Recognition and
Retention Plan which was ratified at the Annual Meeting of Stockholders held on
May 23, 1997. Mr. Brittain stated that an aggregate of 131,285 shares have been
awarded, which will leave 85,605 shares available for future awards.
Over the past three months, the Company's shares traded between $12.50 and
$16.00. At March 31, 1997, the Company had $478.1 million in assets and
stockholders' equity of $60.8 million. As of June 23, 1997, there were 4,392,023
shares of common stock outstanding.
