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
March 14, 2000
- ------------------------------------------------------------------------------
(Date of earliest event reported)
Commonwealth Bancorp, Inc.
- ------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Pennsylvania 0-27942 23-2828883
- ------------------------------------------------------------------------------
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
2 West Lafayette Street, Norristown, Pennsylvania 19401
- ------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
(610) 251-1600
- ------------------------------------------------------------------------------
(Registrant's telephone number, including area code)
Not Applicable
- ------------------------------------------------------------------------------
(Former name, former address and former fiscal year, if changed since last
report)
ITEM 5. OTHER EVENTS
On March 14, 2000, Commonwealth Bancorp, Inc. announced that its Board
of Directors has declared a cash dividend of $0.11 per share of common stock.
This represents a 22% increase over previous quarterly dividend amounts. The
dividend is payable on April 7, 2000 to shareholders of record at the close
of business on March 24, 2000. For additional information, reference is made
to the Press Release, dated March 14, 2000, which is attached hereto as
Exhibit 99 and is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Financial Statements.
Not Applicable.
(b) Pro Forma Financial Information.
Not Applicable.
(c) Exhibits:
99 Press Release dated March 14, 2000
2
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.
COMMONWEALTH BANCORP, INC.
Date: March 15, 2000 By: /s/Charles M. Johnston
--------------------------------------
Charles M. Johnston
Chief Financial Officer
3
Exhibit 99
For release: IMMEDIATELY
Contact: Charles M. Johnston, Chief Financial Officer
Commonwealth Bancorp, Inc.
(610) 313-2189
COMMONWEALTH BANCORP, INC. INCREASES QUARTERLY DIVIDEND
NORRISTOWN, PA, MARCH 14, 2000 - COMMONWEALTH BANCORP, INC. (NASDAQ: CMSB)
announced today that its Board of Directors has declared a cash dividend of
$0.11 per share of common stock. This represents a 22% increase over the
previous quarterly dividend amount. The dividend is payable on April 7, 2000,
to shareholders of record at the close of business on March 24, 2000.
Commonwealth Bancorp, Inc., with consolidated assets of $1.9 billion, is the
holding company for Commonwealth Bank, which has 62 branches throughout
southeast Pennsylvania. ComNet Mortgage Services, a division of Commonwealth
Bank, has offices in Pennsylvania, Maryland, New Jersey, and Virginia. ComNet
also operates under the trade name of Homestead Mortgage in Maryland.
