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)
September 17, 1999
YONKERS FINANCIAL CORPORATION
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(Exact name of Registrant as specified in its Charter)
Delaware 0-277716 13-3870836
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(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
6 Executive Plaza, Yonkers, New York 10701
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (914) 965-2500
N/A
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(Former name or former address, if changed since last report)
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Item 5. Other Events
On September 17, 1999, the Registrant issued the attached press release
announcing the initiation of a new stock repurchase program to purchase up to
265,000 shares of the Registrant's outstanding shares on the open market. In
addition, the press release announced that the Registrant's annual meeting will
be held on January 27, 2000.
Item 7. Financial Statements and Exhibits
(a) Exhibits
99. Press Release, September 17, 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 thereunto duly authorized.
YONKERS FINANCIAL CORPORATION
Date: September 20, 1999 By: /s/ Richard F. Komosinski
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Richard F. Komosinski, President
EXHIBIT 99
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DATE: September 17, 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 260,500 SHARES
AND ANNOUNCES ANNUAL MEETING DATE
Yonkers, New York, September 17, 1999 - Yonkers Financial Corporation, the
holding company (the "Company") for The Yonkers Savings and Loan Association,
FA, (the "Association"), announced its initiation of a new stock repurchase
program to purchase up to 260,500 shares 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. Under the previous stock repurchase
program the Company repurchased approximately 231,500 shares at an average price
of $18.21 per share. The Company currently has 2,363,739 total shares
outstanding.
Richard F. Komosinski. President and Chief Executive Officer of the Company,
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 also announced that its annual meeting date is scheduled for
Thursday January 27, 2000.
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 and one lending
center located in Yonkers, New York and three in-store branches, located in
Wappingers Falls, New York, Yorktown Heights, New York, and Mt. Vernon, New
York.
At June 30, 1999, the Company had consolidated total assets of $392.6 million
and stockholders' equity of $38.1 million. The Company's stock trades on The
Nasdaq Stock Market under the symbol "YFCB".
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