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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) January 29, 1999
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REPUBLIC BANCSHARES, INC.
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(Exact Name of registrant as specified in its charter)
Florida 0-27652 59-1463900
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) identification No.)
111 Second Avenue N.E.
St. Petersburg, Fl 33701
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(Address of principal executive offices)
Registrant's telephone number, including area code (727) 823-7300
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(Former name or former address, if changed since last report)
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Item 5. OTHER EVENTS
On January 29, 1999, the Company announced that it had hired an investment
banker to assist the Board of Directors in evaluating strategic
alternatives. Statements in this release may constitute forward-looking
statements that are based on the current beliefs and expectations of the
Company's management, as well as assumptions made by, and information
currently available to, the Company's management. Forward-looking statements
are based largely on expectations and are subject to a number of risks and
uncertainties including but not limited to economic, competitive and other
factors affecting the Company and its operations. The content of the report
is comprised of the press release text relating to this matter included in
this filing as Exhibit 99.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
EXHIBITS
99. Press release dated January 29, 1999.
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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.
REPUBLIC BANCSHARES, INC.
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(Registrant)
Date: January 29, 1999 By: /s/ William R. Falzone
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Treasurer
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EXHIBIT 99.0
PRESS RELEASE
DATE: January 29, 1999
CONTACT: Stan R. Blakey
Director of Investor Relations & Communications
WK - (727) 823-7300 Ext. 3406
HM - (727) 781-5849
FOR IMMEDIATE RELEASE
St. Petersburg, Florida (January 29, 1999) -- Republic Bancshares Inc.
(Nasdaq: REPB), the parent company of Republic Bank, today announced that its
Board of Directors has engaged an investment banker to assist in evaluating
alternatives regarding the Company's future strategy. Those strategies may
include, among other, raising additional capital to support the planned growth
of the Bank, merger with another financial institution or sale of the Company
to an acquiror. The Company emphasizes that it is in the early stages of its
evaluation and that a decision on the Company's future has not been made.
In the interim, the Company will continue to pursue its 1999 business plan
which includes the opening of 15 additional branch offices. Earlier this week,
the Company announced the opening of seven new branch offices, bringing the
total number of offices to 67.
Statements in this release may constitute forward-looking statements that
are based on the current beliefs and expectations of the Company's management,
as well as assumptions made by, and information currently available to, the
Company's management. Forward-looking statements are based largely on
expectations and are subject to a number of risks and uncertainties including
but not limited to economic, competitive and other factors affecting the
Company and its operations.
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