SCHEDULE 14A
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
(Amendment No. )
Filed by the Registrant /X/
Filed by a Party other than the Registrant / /
Check the appropriate box:
/ / Preliminary Proxy Statement
/ / Confidential, for Use of the Commission Only (as permitted by Rule
14a-6(e)(2))
/ / Definitive Proxy Statement
/X/ Definitive Additional Materials
/ / Soliciting Material Pursuant to ss.240.14a-11(c) or ss.240.14a-12
YONKERS FINANCIAL CORPORATION
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(Name of Registrant as Specified In Its Charter)
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
/X/ No fee required.
/ / Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
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pursuant to Exchange Act Rule 0-11 (set forth the amount on which the
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/ / Check box if any part of the fee is offset as provided by Exchange Act
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number, or the Form or Schedule and the date of its filing.
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(4) Date Filed:
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[YONKERS FINANCIAL CORPORATION LETTERHEAD]
RECORD 36% INCREASE IN EARNINGS PER SHARE!
January 14, 2000
Dear Fellow Shareholders:
Yesterday we announced that record earnings per share are projected for the
fiscal year ending September 30, 2000. You can review these estimates in the
enclosed press release.
Earnings for fiscal 2000 are expected to be a record $1.51 per diluted
share compared to $1.11 per diluted share for fiscal 1999, a 36% increase. Last
week, we announced that earnings for the first quarter of fiscal 2000, which
ended December 31, 1999, increased by 26% to a record $0.34 per diluted share.
THE PROJECTIONS FOR OUR ANNUAL EARNINGS CONFIRM WHAT WE HAVE SAID BEFORE -
OUR STRATEGY OF EXTRAORDINARY LOAN AND DEPOSIT GROWTH IS WORKING AS PLANNED. OUR
STRATEGIC PLAN IS BUILDING SHAREHOLDER VALUE AT AN EXTRAORDINARY RATE. OUR PLAN
IS WORKING.
YOUR BOARD IS NOT OPPOSED TO SELLING THE COMPANY. WE SIMPLY BELIEVE NOW IS
NOT THE TIME.
VOTE FOR YOUR BOARD'S NOMINEES, DONALD R. ANGELILLI, WILLIAM G. BACHOP AND
EBEN T. WALKER, BY COMPLETING AND RETURNING THE ENCLOSED WHITE PROXY CARD TODAY.
DO NOT RETURN OR VOTE ANY GOLD PROXY CARDS!
We thank you for your continued support.
Sincerely,
/s/ William G. Bachop /s/ Richard F. Komosinski
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William G. Bachop Richard F. Komosinski
Chairman of the Board President and Chief
Executive Officer
Enclosure
Important
If you own shares in "street name" (in a brokerage firm or bank), please
contact your broker or bank and direct them to vote "FOR" your Board's nominees
on the WHITE proxy card.
If you have any questions on how to vote your shares, please call our proxy
solicitor, Regan and Associates, at 1-800-737-3426. If you have any questions
about our goals or our progress, please feel free to call us directly at
914-965-2500 ext. 101.
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January 13, 2000 Contact: Richard Komosinski
(914) 965-2500
RECORD INCREASE IN ANNUAL EARNINGS PER SHARE
PROJECTED BY YONKERS FINANCIAL CORPORATION
Yonkers, New York- Yonkers Financial Corporation (Nasdaq National
Market:YFCB) announced today that earnings for the fiscal year ending September
30, 2000 are expected to be a record $1.51 per diluted share, compared to $1.11
per diluted share for fiscal 1999.
Richard F. Komosinski, President and Chief Executive Officer, stated:
"Despite the recent increase in market interest rates which will negatively
impact our earnings, we expect fiscal 2000 earnings per share to increase by
36%, a dramatic improvement over fiscal 1999. 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 and increase the value of
our shareholders' investment."
President Komosinski added: "Our strategic plan is producing dramatic
results. Earlier this week, we announced that estimated earnings for the first
quarter of fiscal 2000 were a record $0.34 per diluted share. The Board believes
the projected record increase in annual earnings per share means that
shareholder value will continue to increase significantly."
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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<CAPTION>
REVOCABLE PROXY
YONKERS FINANCIAL CORPORATION
/X/ PLEASE MARK VOTES
AS IN THIS EXAMPLE
<S> <C>
ANNUAL MEETING OF STOCKHOLDERS With- For All
JANUARY 27, 2000 For hold Except
I. The election of the following directors
for a three-year term to expire in 2003: /_/ /_/ /_/
The undersigned hereby appoints the Board of Directors DONALD R. ANGELILLI WILLIAM G. BACHOP EBEN T. WALKER
of Yonkers Financial Corporation (the "Company"), and its
survivor, with full power of substitution, to act as INSTRUCTION: TO VOTE FOR ALL NOMINEES, MARK THE BOX "FOR." TO
attorneys and proxies for the undersigned to vote all shares WITHHOLD AUTHORITY TO VOTE FOR ALL NOMINEES, MARK THE BOX
of common stock of the Company which the undersigned is "WITHHOLD." TO WITHHOLD AUTHORITY TO VOTE FOR ONE OR MORE
entitled to vote at the Annual Meeting of Stockholders (the NOMINEES, BUT NOT ALL NOMINEES, MARK THE BOX "FOR ALL EXCEPT"
"Meeting"), to be held on January 27, 2000 at a branch AND WRITE THE NAME(S) OF THE NOMINEE(S) FOR WHOM YOU WISH
office of The Yonkers Savings and Loan Association, FA, TO WITHHOLD YOUR VOTE IN THE SPACE PROVIDED BELOW.
located at 2320 Central Park Avenue, Yonkers, New York, at
6:00 p.m. New York time, and at any and all adjournments or ----------------------------------------------------------------
postponements thereof, as follows:
For Against Abstain
II. The ratification of the appointment /_/ /_/ /_/
of KPMG LLP as the independent
auditors of the Company for the
fiscal year ending September 30,
2000.
In their discretion, the Board of Directors, as proxy for the
stockholder, is authorized to vote on such other matters as may
properly come before the Meeting or any adjournments or
postponements thereof.
THE BOARD OF DIRECTORS RECOMMENDS A VOTE "FOR" EACH OF THE
NOMINEES LISTED HEREIN AND "FOR" THE RATIFICATION OF THE
APPOINTMENT OF KPMG LLP.
THIS PROXY WILL BE VOTED AS DIRECTED, BUT IF NO INSTRUCTIONS
ARE SPECIFIED, THIS PROXY WILL BE VOTED FOR EACH OF THE
NOMINEES NAMED HEREIN AND FOR THE RATIFICATION OF THE
APPOINTMENT OF KPMG LLP. IF ANY OTHER BUSINESS IS PRESENTED AT
THE MEETING, THIS PROXY WILL BE VOTED AS DIRECTED BY THE BOARD
OF DIRECTORS IN ITS BEST JUDGMENT. AT THE PRESENT TIME, THE
BOARD OF DIRECTORS KNOWS OF NO OTHER BUSINESS TO BE PRESENTED AT
THE MEETING.
Please be sure to sign and date Date
this Proxy in the box below.
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- -------Stockholder sign above---------Co-holder (if any) sign above-----
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DETACH ABOVE CARD, SIGN, DATE AND MAIL IN POSTAGE PAID ENVELOPE PROVIDED. ->
YONKERS FINANCIAL CORPORATION
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THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
This Proxy may be revoked at any time before it is voted by: (i) filing
with the Secretary of the Company at or before the Meeting a written notice of
revocation bearing a later date than this Proxy; (ii) duly executing a
subsequent proxy relating to the same shares and delivering it to the Secretary
of the Company at or before the Meeting; or (iii) attending the Meeting and
voting in person (although attendance at the Meeting will not in and of itself
constitute revocation of this Proxy). If this Proxy is properly revoked as
described above, then the power of the Board of Directors as attorneys and
proxies for the undersigned shall be deemed terminated and of no further force
and effect.
The above signed acknowledges receipt from the Company, prior to the
execution of this Proxy, of a Notice of the Annual Meeting, a Proxy Statement
dated December 6, 1999, and the Company's Annual Report to Stockholders for the
fiscal year ended September 30, 1999.
Please sign exactly as your name appears on this proxy card. When signing
as attorney, executor, administrator, trustee or guardian, please give your full
title. If shares are held jointly, each holder should sign.
PLEASE ACT PROMPTLY
SIGN, DATE & MAIL THIS PROXY CARD TODAY
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