<PAGE>
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 11, 1996
Patapsco Bancorp, Inc.
- -----------------------------------------------------------------
(Exact name of Registrant as specified in its charter)
Maryland 0-20832 52-1951797
- -------------------------------------------------------------------
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
1301 Merritt Boulevard, Dundalk, Maryland 21222
___________________________________________ -----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 285-1010
--------------
Not Applicable
- ---------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
<PAGE>
ITEM 5. OTHER EVENTS
- ---------------------
On October 11, 1996, the Registrant announced stockholder
approval of a stock option plan and management recognition plan.
Pursuant to the management recognition plan, a trust will purchase
up to 14,502 shares, representing 4% of the Registrant's outstanding
common stock, in order to make awards of restricted stock under the
plan. The Registrant also announced that effective September 30,
1996, its wholly owned subsidiary successfully completed its charter
conversion from a federally chartered savings and loan association
to a Maryland-chartered commercial bank and changed its name from
Patapsco Federal Savings and Loan Association to the Patapsco Bank.
The Registrant also announced that it had filed a private letter
ruling request with the Internal Revenue Service regarding the tax
free nature of a possible return of capital distribution to its
shareholders. For further information, reference is made to the
Registrant's press release dated October 11, 1996, which is attached
hereto as Exhibit 28.1, and incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
AND EXHIBITS
- ---------------------------------------------------------------
The following is a list of exhibits filed with this Current
Report on Form 8-K indexed to their location in the sequentially
numbered copy.
Exhibit No. Description
- -------------- -----------
99.1 Press Release, dated October 11, 1996.
<PAGE>
<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, hereunto duly authorized.
PATAPSCO BANCORP, INC.
Date: October 15, 1996 By: /s/ Joseph J. Bouffard
----------------------
Joseph J. Bouffard
President
<PAGE>
PRESS RELEASE
-------------
PATAPSCO BANCORP, INC.
For further information contact Joseph Bouffard, President
410-285-9327
PATAPSCO BANCORP, INC. ANNOUNCES RESULTS OF ANNUAL MEETING
Baltimore, Md. October 10, 1996 - Patapsco Bancorp, Inc. (National
Quotation Bureau, Inc. "Pink Sheets": PATD), the parent company of
The Patapsco Bank, announced at its annual meeting the successful
charter conversion of its principal subsidiary from a federally
chartered savings and loan to a Maryland chartered commercial bank.
The Charter conversion was effective September 30, 1996 and the
converted institution is known as The Patapsco Bank. The bank will
be regulated by the State of Maryland and the Federal Reserve Bank
of Richmond.
The Company further announced that S. Robert Kinghorn, Dr.
Theodore C. Patterson and Douglas H. Ludwig were reelected to the
Board of Directors. The Company also announced the approval by its
stockholders of the Management Recognition Plan and 1996 Stock
Option & Incentive Plan.
At the Company's Board of Directors meeting, immediately
following the annual meeting, the Company elected S. Robert Kinghorn
as Chairman of the Board of Directors. Mr. Kinghorn is the retired
controller of Bethlehem Steel's Sparrows Point Plant. Mr. Kinghorn
will succeed Joseph N. McGowan, who will remain on the Board as Vice
Chairman.
The Company also announced that it had filed a private letter
ruling request with the Internal Revenue Service regarding the tax
free nature of a possible return of capital distribution to its
shareholders. The Company emphasized that it was merely considering
this action and no firm decision, including the possible amount of
such a distribution, has been made. The Company has an agreement
with the Office of Thrift Supervision not to make any return of
capital distribution on or before April 2, 1997.
The Patapsco Bank serves Baltimore County and surrounding
communities from its office located at 1301 Merritt Boulevard,
Dundalk, Maryland.
