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Previous: AMBANC HOLDING CO INC, 4, 1998-07-07 |
Next: ACCESS CAPITAL STRATEGIES COMMUNITY INV FD INC INSTIT INV PO, N-54C, 1998-07-07 |
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, 1998
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)
<PAGE>
Item 5. Other Events
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On July 3, 1998, the Registrant issued the press release attached hereto as
Exhibit 99 announcing freeze on executive managers' compensation.
Item 7. Financial Statements and Exhibits
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(c) Exhibits
The Exhibits referred to in Item 5 of this Report and listed on the
accompanying Exhibit Index are filed as part of this Report and are incorporated
herein by reference.
<PAGE>
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, 1998 By:
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Lauren T. Barnett
President & Chief Executive Officer
<PAGE>
Exhibit
Number Description
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99 Press release dated July 3, 1998 announcing freeze on executive
managers' compensation.
FOR IMMEDIATE RELEASE
Contact:
Marvin R. LeRoy, Jr., Director
Tel:(518) 438-2217
Harold A. Baylor, Jr., Vice Pres., CFO, and Treas.
Tel:(518) 842-7200
Fax:(518) 842-1688
Ambanc Holding Co., Inc. Announces Freeze on
Executive Managers' Compensation
Amsterdam, N.Y. (July 3, 1998) Ambanc Holding Co., Inc. (NASDAQ: AHCI),
recently announced that the compensation of its board members would be frozen at
their current levels. The Company's board of directors has also frozen the
compensation of executive managers of the Company's bank subsidiary, Amsterdam
Savings Bank, FSB. The freeze on the compensation of the Bank's executive
managers, like the freeze on the compensation of the Company's directors, will
remain in effect until the Company shows improvement in its consolidated
operating results.
The changes are expected to be put into effect during the fourth quarter of
1998.
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