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 7, 2000
YONKERS FINANCIAL CORPORATION
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(Exact name of Registrant as specified in its Charter)
Delaware 0-27716 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 January 7, 2000, Yonkers Financial Corporation issued the press release
attached hereto as Exhibit 99.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99 Press Release dated January 7, 2000.
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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: January 7, 2000 By: /s/ Richard F. Komosinski
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Richard F. Komosinski
President and Chief Executive Officer
Executive Officer
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EXHIBIT INDEX
Exhibit No. Description
99 Press Release dated January 7, 2000
January 7, 2000
Contact: Richard Komosinski
(914) 965-2500
ESTIMATED RECORD FIRST QUARTER EARNINGS PER SHARE
ANNOUNCED BY YONKERS FINANCIAL CORPORATION
Yonkers, New York - Yonkers Financial Corporation (Nasdaq National Market:YFCB)
announced today that earnings for the first quarter of fiscal 2000, which ended
December 31, 1999, are expected to be a record $0.34 per diluted share compared
to $0.27 per diluted share for the first quarter of fiscal 1999.
Richard F. Komosinski, President and Chief Executive Officer, stated: "We are
very pleased to report our estimated record first quarter earnings per share
showing a 26% increase from the first quarter of last year. We believe this
improvement is directly related to our strategic plan of growing our loan and
deposit base as rapidly as possible in order to build franchise value. The
resultant increases in earnings per share are just beginning to be realized and
should continue as the year progresses."
According to President Komosinski, "the Board believes that the substantial
increase in earnings per share represents a significant increase in value for
our shareholders."
The company was organized in 1995 as the holding company for The Yonkers Savings
and Loan Association, FA. Yonkers Savings 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 five in-store branches, located
in Wappingers Falls, Yorktown Heights, Mt. Vernon, Cortlandt Manor and
Poughkeepsie, New York.
This news release contains various forward-looking statements consisting of
estimates with respect to the financial condition, results of operations and
business of the company and the bank. These estimates are subject to various
factors that could cause actual results to differ materially from these
estimates. These factors include, but are not limited to, (i) the effect that an
adverse movement in interest rates could have on net interest income, (ii)
changes in customer preferences for our products and services, (iii) changes in
national and local economic and market conditions, (iv) higher than anticipated
operating expenses, (v) a lower level of or higher cost for deposits or a higher
cost for borrowings than anticipated, (vi) changes in accounting principles,
policies or guidelines, and (vii) legislation or regulations adversely affecting
the bank or the company.
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