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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): December 23, 1999
Carolina Fincorp, Inc.
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(Exact name of registrant as specified in its charter)
North Carolina 000-21701 56-1978449
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
115 South Lawrence Street
Rockingham, North Carolina 28380
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(Address of principal executive offices)
Registrant's telephone number, including area code: (910) 997-6245
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 December 23, 1999, Carolina Fincorp, Inc. (the "Registrant") announced
that its Board of Directors has terminated the stock repurchase plan announced
on April 8, 1999. A copy of the press release announcing the termination of the
stock repurchase plan is attached hereto as Exhibit 99.
The Registrant purchased 34,000 shares between May 7, 1999 and May 13,
1999.
On October 16, 1999, FNB Corp. (Nasdaq: FNBN) and the Company entered
into an Agreement and Plan of Merger (the "Merger Agreement"), pursuant to which
FNB will acquire Company subject to certain conditions described in a press
release dated October 18, 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 hereunto duly authorized.
CAROLINA FINCORP, INC.
Date: December 28, 1999 By: /s/R. Larry Campbell
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- ---------- R. Larry Campbell, President
and Chief Executive Officer
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EXHIBIT INDEX
Exhibit No. Description
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99 Press Release of the Registrant distributed
December 23, 1999
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CAROLINA
FINCORP, INC.
FOR IMMEDIATE RELEASE
DATE: December 23, 1999
FOR ADDITIONAL INFORMATION
R. Larry Campbell, President
Carolina Fincorp, Inc.
(910) 997-6245
CAROLINA FINCORP, INC. ANNOUNCES
TERMINATION OF STOCK REPURCHASE PLAN
R. Larry Campbell, President of Carolina Fincorp, Inc., Rockingham, North
Carolina, (the Company) announced that the Company has terminated the stock
repurchase plan adopted by the Company earlier this year.
The Company repurchased 34,000 shares pursuant to the plan between May 7,
1999 and May 13, 1999.
On October 16, 1999, FNB Corp. (Nasdaq: FNBN) and the Company entered into
an Agreement and Plan of Merger (the "Merger Agreement"), pursuant to which FNB
will acquire Company subject to certain conditions described in a press release
dated October 18, 1999.
The Company's common stock is listed for quotation on the Nasdaq National
Market under the symbol "CFNC".
