SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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)
April 21, 1999
YONKERS FINANCIAL CORPORATION
(Exact name of Registrant as specified in its Charter)
Delaware 0-277716 13-3870836
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(State or other (Commission File No.) (IRS Employer Identification No.)
jurisdiction of incorporation)
One Manor House Square, Yonkers, New York 10701
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (914) 968-4500
N/A
(Former name or former address, if changed since last report)
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Item 5. Other Events
On April 21, 1999, the Registrant issued the attached press release
announcing the its intention to repurchase up to 136,000 shares or approximately
5% of its shares in the open market.
Item 7. Financial Statements and Exhibits
(a) Exhibits
99. Press release, dated April 21, 1999.
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<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 thereunto duly authorized.
YONKERS FINANCIAL CORPORATION
Date: April 22, 1999 By: /s/ Richard F. Komosinski
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Richard F. Komosinski, President
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EXHIBIT 99
DATE: April 21, 1999
CONTACTS: Richard F. Komosinski, President & CEO
Joseph D. Roberto, Vice President & Treasurer, CFO
PHONE: 914-965-2500
FOR IMMEDIATE RELEASE
YONKERS FINANCIAL CORPORATION
TO REPURCHASE UP TO 136,000 SHARES
Yonkers, New York, April 21, 1999 - Yonkers Financial Corporation, the holding
company (the "Company" for The Yonkers Savings and Loan Association, FA, (the
"Association"), announced its intention to repurchase up to 136,000 shares or
approximately 5% of its outstanding shares in the open market. These shares will
be purchased at prevailing market prices from time to time depending upon market
conditions. All repurchase transactions will be effected through registered
brokerage firms.
Richard F. Komosinski, President and Chief Executive Officer of the Company,
indicated that the Board of Directors believes the repurchase program is in the
best interest of the Company and its stockholders in view of the current price
level of the Company's common stock and the strong capital position of the
Association. Mr. Komosinski stated that, "We believe that the repurchase of our
shares represents an attractive investment opportunity which will benefit the
Company and our stockholders."
The Company was organized in 1995 to act as the holding company of the
Association. The Association currently serves the financial needs of communities
in its market area through four traditional retail offices located in Yonkers,
New York and two in-store branches, located in Wappingers Falls, New York and
Yorktown Heights, New York.
At December 31, 1998, the Company had consolidated total assets of $383.0
million, stockholders' equity of $41.9 million and total shares outstanding of
2,726,239. The Company's stock trades on The Nasdaq Stock Market under the
symbol "YFCB".
