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): October 10, 1997
PEOPLES-SIDNEY FINANCIAL CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 0-22223 31-1499862
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(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
101 East Court Street, Sidney, Ohio 45365
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (937) 492-6129
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 October 10, 1997, Peoples-Sidney Financial Corporation issued the
attached press release relating to the announcement of quarterly earnings and
dividend increase.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
The Exhibits listed on the accompanying Exhibit Index are filed as part
of this Report and are incorporated herein by reference.
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EXHIBIT INDEX
Exhibit
Number Description
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99.1 Press Release Announcing Quarterly Earnings and Dividend Increase
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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.
PEOPLES-SIDNEY FINANCIAL CORPORATION
Date: October 17, 1997 By: /s/ Douglas Stewart
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Douglas Stewart
President and Chief Executive Officer
EXHIBIT 99.1
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[PEOPLES-SIDNEY FINANCIAL CORPORATION LETTERHEAD]
For Information contact: For Release
Douglas Stewart, President Friday, October 10, 1997
937-492-6129
PEOPLES-SIDNEY FINANCIAL CORPORATION
ANNOUNCES QUARTERLY EARNINGS AND DIVIDEND INCREASE
(Sidney, Ohio: NASD-NMS "PSFC") Douglas Stewart, President of
Peoples-Sidney Financial Corporation, parent company of Peoples Federal Savings
and Loan Association, announced today the Company's first quarter earnings for
the fiscal year ending June 30, 1998.
Net income was $338,000 for the three months ended September 30, 1997,
or $.20 per share, compared to ($97,000) for the three months ended September
30, 1996. The negative September 30, 1996 earnings were a direct result of the
one time SAIF deposit insurance assessment which impacted earnings by $301,000
after tax. Absent the SAIF assessment, September 30, 1996 quarterly earnings
would have been $204,000. The comparison, net of the SAIF assessment, shows a
positive gain of $134,000 to income for the quarter ended September 30, 1997.
The Company's subsidiary, Peoples Federal Savings and Loan Association,
converted to a stock form of organization in April 1997.
The Board of Directors also declared a quarterly cash dividend of $.07
per share for stockholders of record on October 24, 1997. This represents a $.02
increase in dividends compared to the divided paid on August 6, 1997. This
dividend will be payable November 7, 1997.
Peoples Federal serves Shelby County, Ohio through its main office
located at 101 East Court Street, Sidney. The Company had $103 million in assets
and $26 million in shareholders' equity as of September 30, 1997.
