SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): February 11, 1998
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TOMPKINS COUNTY TRUSTCO, INC.
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(Exact name of Registrant as specified in its charter)
NEW YORK 1-12709 161482357-8
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(State of other (Commission File Number) (I.R.S. Employer
jurisdiction of Incorporation) I.D. Number)
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P.O. Box 460, The Commons, Ithaca, New York 14851
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(Address of Principal Executive Offices) (Zip Code)
(607) 273-3210
(Registrant's Telephone Number including area code)
Page 1 of 5 pages
Exhibit Index on page 4
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Item 5. Other Events
On February 10, 1998, Tompkins County Trustco, Inc. (the "Company")
announced that its Board of Directors approved a 3-for-2 stock split in the form
of a dividend (the "Stock Split"), said Stock Split to be payable on March 15,
1998 to shareholders of record as of March 1, 1998. The press release announcing
the Stock Split is attached as Exhibit 99.1 to this report and is incorporated
by reference herein.
Item 7. Financial Statements and Exhibits
Exhibit 99.1 Press Release dated February 10, 1998 announcing
the Stock Split.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
TOMPKINS COUNTY TRUSTCO, INC.
By: /s/ JAMES J. BYNRES
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James J. Byrnes
Chairman of the Board, President
and Chief Executive Officer
Date: February 12, 1998
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EXHIBIT INDEX
Exhibit 99.1 Press Release dated February 10, 1998 announcing the Stock
Split.
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EXHIBIT 99.1
For additional information, contact
James J. Byrnes, President & CEO
(607) 273-3210
FOR IMMEDIATE RELEASE
February 10, 1998
Tompkins County Trustco, Inc. (TMP - American Stock Exchange) announced
today that its Board of Directors approved on February 10, 1998, payment of a
regular quarterly cash dividend of $.32 per share payable on March 15, 1998 to
common stock shareholders of record on March 1, 1998. In addition, the Board
approved payment of a 3-for-2 stock split of the Corporation's common stock,
also payable on March 15, 1998 to common stock shareholders of record on March
1, 1998. The cash dividend represents payment of the same per share amount as
paid in the fourth quarter of 1997 and an increase of 6.7% over the amount paid
in the comparable quarter of 1997. The stock split will result in 50% more
shares outstanding to a new total of approximately 4,888,210 common shares and
will not change the par value or the authorized shares of common stock
authorized by the corporate charter.
The cash dividend and 3-for-2 stock split reflect continued favorable
operating results of the Company which earlier reported fourth quarter net
income of $2.4 million; an increase of 10.6% over the same quarter in 1996, and
earnings per share of $.73 for the quarter; an increase of 14.1% over the
comparable period in 1996.
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