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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) April 15, 1998
SUSSEX BANCORP
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(Exact name of registrant as specified in its charter)
New Jersey 0-29030 22-3475473
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
399 Route 23, Franklin, New Jersey 07416
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (973) 827-2914
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Item 5. Other Events
The Registrant announced earnings for the First Quarter of 1998,
reporting consolidated net income of $182,000, an increase of 48% from the
$124,000 in consolidated net earnings reported for the first quarter of 1997.
Earnings per share for the first quarter, after adjusting for the dilutive
effect of stock options, was $0.26 per share compared to $0.18 per share for the
First Quarter of 1997. At March 31, 1998, the Company's total assets increased
19% to $122.2 million.
Item 7. Exhibits.
The following exhibit is filed with this Current Report on Form 8-K.
Exhibit No. Description
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99 Press Release announcing First Quarter results
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
Sussex Bancorp has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
SUSSEX BANCORP
(Registrant)
Dated: April 21, 1998 By: /s/ CANDACE A. LEATHAM
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CANDACE A. LEATHAM
Chief Financial Officer
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EXHIBIT INDEX
CURRENT REPORT ON FORM 8-K
Exhibit No. Description
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99 Press Release announcing First Quarter results
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EXHIBIT 99
Franklin, New Jersey, April 15, 1998 -- Sussex Bancorp reported
consolidated net income for the first three months of 1998 of $182,000, up 47%
from the $124,000 earned in the same period of 1997. First quarter earnings,
after adjusting for the dilutive effective of stock options was $0.26 compared
to $0.18 for the same period in 1997.
Assets climbed 19% to $122.2 million and net loans increased 2.8% to
$68.6 million. Deposits increased for the first quarter of 1998 to $113.6
million over $95 million for the first quarter of 1997.
Sussex Bancorp, through its subsidiary, Sussex County State Bank,
operates seven branches in Franklin, Vernon, Sparta, Montague, Wantage and
Newton in northwestern New Jersey. Shares of Sussex Bancorp (SBB) began initial
trading on AMEX on February 20, 1998.
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