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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 (Date of earliest event reported)
July 29, 1996
PEEKSKILL FINANCIAL CORPORATION
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(Exact name of Registrant as specified in its Charter)
Delaware 0-27178 13-3858258
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(State or other (Commission File No.) (IRS Employer
jurisdiction of Identification
incorporation) Number)
1019 Park Street, Peekskill, New York 10566
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (914) 737-2777
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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 July 29, 1996, the Registrant issued the attached press
release announcing the initiation of a stock repurchase program.
Item 7. Financial Statements and Exhibits
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(a) Exhibits
99.1 Press release, dated July 29, 1996.
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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.
PEEKSKILL FINANCIAL CORPORATION
Date: July 29, 1996 By: /s/ ELDORUS MAYNARD
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Eldorus Maynard, Chairman
and Chief Executive Officer
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EXHIBIT 99.1
July 29, 1996
FOR INFORMATION CONTACT FOR IMMEDIATE RELEASE
Eldorus Maynard,
Chairman and Chief Executive Officer
PEEKSKILL FINANCIAL CORPORATION ANNOUNCES
STOCK REPURCHASE PROGRAM
Peekskill, New York -- Peekskill Financial Corporation
(NASDAQ: "PEEK"), the holding company for First Federal Savings
Bank, announced the Company has received a waiver from the Office
of Thrift Supervision to repurchase up to 4% of its outstanding
shares of common stock in the open market. These shares will be
purchased at prevailing market prices from time to time over a six-month
period depending upon market conditions.
Eldorus Maynard, Chairman and Chief Executive Officer of the
Company, indicated that the Board of Directors approved the
repurchase program in view of the current price level of the
Company's common stock and the strong capital position of the
Company's subsidiary, First Federal Savings Bank. Mr. Maynard
stated that, "We believe the repurchase of our shares is an
attractive investment opportunity which will benefit the Company
and its stockholders."
The Company was organized in 1995 to act as the holding
company of the Bank. The Bank, with headquarters in Peekskill, New
York, primarily serves the communities in its market area through
its three full service branches.
At June 30, the Company had consolidated total assets of
$191.3 million and stockholders' equity of $59.8 million.
