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): June 26, 1996
GREEN STREET FINANCIAL CORP
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(Exact name of Registrant as specified in its Charter)
North Carolina 0-27620 56-1951478
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(State or other jurisdiction (SEC File No.) (IRS Employer
of incorporation) Identification
Number)
241 Green Street, Fayetteville, North Carolina 28301-5051
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(910) 483-3681
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Not Applicable
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(Former name or former address, if changed since last Report)
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GREEN STREET FINANCIAL CORP
INFORMATION TO BE INCLUDED IN REPORT
Item 5. Other Events
The Registrant announced that on June 26, 1996, the Board of Directors
declared a cash dividend of $0.10 per share to all shareholders of record on
July 8, 1996, payable on July 19, 1996.
For further details, reference is made to the Press Release dated June 26,
1996, which is attached hereto as Exhibit 99 and incorporated herein by
reference.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits
Exhibit 99 -- Press Release dated June 26, 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, hereunto duly authorized.
GREEN STREET FINANCIAL CORP
Date: July 2, 1996 By: /s/ H.D. Reaves, Jr.
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H.D. Reaves, Jr.
Chief Executive Officer
and President
EXHIBIT 99
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[Green Street Financial Corp Letterhead]
CONTACT: H.D. Reaves, Jr.
President
John C. Pate
Senior Vice President
For Immediate Release
June 26, 1996
GREEN STREET FINANCIAL CORP
CASH DIVIDEND
Fayetteville, North Carolina -- June 26, 1996 -- H.D. Reaves, Jr., President of
Green Street Financial Corp (the "Corporation"), Fayetteville, North Carolina,
the holding company of Home Federal Savings and Loan Association (the
"Association"), announced today that the Corporation's Board of Directors
declared a cash dividend of $0.10 per share payable on July 19, 1996 to
stockholders of record as of the close of business on July 8, 1996. This is the
first dividend declared by the Corporation since the issuance of its stock on
April 4, 1996. Subject to the Corporation's earnings and capital, it is the
current intention of the Corporation to continue to pay regular quarterly cash
dividends.
Mr. Reaves indicated that the cash dividend is being paid as a result of
continued profitability of the Corporation and is wholly owned subsidiary, the
Association.
The Association is a federally chartered stock savings and loan association
headquartered in Fayetteville, North Carolina. The Association has three full
service offices serving Cumberland and Robeson Counties, North Carolina. The
Association's deposits are federally insured by the Federal Deposit Insurance
Corporation ("FDIC"). The Association is a community oriented, full service
retail savings and loan association offering traditional mortgage loan products.
The Corporation's common stock is quoted on the NASDAQ National Market under the
symbol "GSFC" and is listed in the newspapers as "GreenSt n".
