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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): July 25, 1997
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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
incorporation) No.)
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
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N/A
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(Former name or former address, if changed since last report.)
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Item 5. Other Events
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On July 25, 1997, Peoples-Sidney Financial Corporation issued the
attached press releases relating (i) to the announcement of year-end earnings,
and (ii) the declaration of its initial cash dividend.
Item 7. Financial Statements and Exhibits
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(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 Year End Earnings
99.2 Press Release Declaring Initial Cash Dividend
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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: July 29, 1997 By: /s/ Douglas Stewart
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Douglas Stewart
President and Chief Executive Officer
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EXHIBIT 99.1
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PEOPLES-SIDNEY FINANCIAL CORPORATION
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CORNER COURT STREET AND OHIO AVENUE * P.O. BOX 727 * SIDNEY, OHIO 45365
EXECUTIVE OFFICES * TEL. (937) 492-6129 * FAX.(937) 498-4554
FOR MORE INFORMATION CONTACT: FOR IMMEDIATE RELEASE
Douglas Stewart, President July 25, 1997
(937) 492-6129
PEOPLES-SIDNEY FINANCIAL CORPORATION
ANNOUNCES YEAR END EARNINGS
Sidney, Ohio, July 25 ...... Douglas Stewart, President of Peoples-Sidney
Financial Corporation (NASDAQ "PSFC") the holding company for Peoples Federal
Savings and Loan Association, announced today the company's year end financial
results.
Net income was $564,000 for the twelve months ended June 30, 1997, compared to
$852,000 for the twelve months ended June 30, 1996. The decrease was attributed
to the one time SAIF deposit insurance assessment of $456,000 which resulted in
a net tax effect of $301,000 on income. Absent the SAIF assessment, net income
would have improved by $13,000 or 1.5% over the previous year.
The Corporation had earnings per share of $.09 for the quarter ended June 30,
1997. The company converted from a federal mutual to a federal stock savings
institution on April 25, 1997. Accordingly, earnings per share for the period
ended June 30, 1997 was computed based on net income of the Corporation since
April 25, 1997.
The Corporation had $103,000,000 in assets and $25,000,000 in stockholder's
equity as of June 30, 1997.
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PSFC/YEAR-END
CONTACT: DOUGLAS STEWART PRESIDENT
(937) 492-6129
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Peoples Federal Savings and Loan Association was founded in 1886 and serves
Shelby and surrounding counties in Ohio. The company exceeds all regulatory
capital standards imposed by the Federal Government.
Peoples-Sidney Financial Corporation shares are traded on The NASDAQ Stock
Market under the symbol "PFSC".
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EXHIBIT 99.2
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PEOPLES-SIDNEY FINANCIAL CORPORATION
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CORNER COURT STREET AND OHIO AVENUE * P.O. BOX 727 * SIDNEY, OHIO 45365
EXECUTIVE OFFICES * TEL. (937) 492-6129 * FAX (937) 498-4554
FOR MORE INFORMATION CONTACT: FOR IMMEDIATE RELEASE
Douglas Stewart, President July 25, 1997
(937) 492-6129
PEOPLES-SIDNEY FINANCIAL CORPORATION
DECLARES INITIAL CASH DIVIDEND
SIDNEY, OHIO -- Peoples-Sidney Financial Corporation, parent corporation of
Peoples Federal Savings and Loan Association of Sidney ("Peoples-Sidney"), has
announced that the Corporation will pay a cash dividend of $.05 per share for
the second quarter of 1997. The dividend will be payable on August 6, 1997, to
shareholders of record on July 31, 1997.
Peoples-Sidney Financial Corporation was formed in 1997 and acquired all of the
shares of Peoples Federal upon its conversion from a mutual to a stock savings
association. Peoples Federal serves Shelby County, Ohio through Peoples
Federal's main office located at 101 East Court Street, Sidney, Ohio
The Corporation had $103 million in assets and $25 million in stockholder's
equity as of June 30, 1997. The Corporation is traded on the NASDAQ National
Market System under the symbol "PSFC".
