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 13, 1999
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 jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
101 E. 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
On October 13, 1999, Peoples-Sidney Financial Corporation (the
"Company") issued the press release attached hereto as Exhibit 99, announcing
the Company's first quarter earnings for the fiscal year ending June 30, 2000
and the declaration of a cash dividend.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99 Press Release dated October 13, 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 thereunto duly authorized.
PEOPLES-SIDNEY FINANCIAL CORPORATION
Date: October 20, 1999 By: /s/ Douglas Stewart
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Douglas Stewart, President and Chief
Executive Officer
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EXHIBIT 99
[PEOPLES-SIDNEY FINANCIAL CORPORATION Letterhead]
For Release: October 13, 1999
Contact: Douglas Stewart, President
PEOPLES-SIDNEY FINANCIAL CORPORATION
ANNOUNCES QUARTERLY EARNINGS AND DIVIDEND
(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, 2000.
Net income was $131,000 for the three months ended September 30, 1999,
or $0.09 basic and diluted earnings per share, compared to $117,000 or $0.07
basic and diluted earnings per share for the same period ended September 30,
1998. The improvement in earnings is a result of increased lending from the
development of new lending products designed to aid the small business and
agricultural sectors of our market. In addition, the branch network continues to
show improvement each month which should, over time, translate to an increase in
the earnings level of the company.
Total assets grew to $123 million at September 30, 1999 compared to
$117 million at fiscal year end, June 30, 1999, representing a 5.1% increase.
This growth in total assets resulted in the additional efficiency in the
company's equity to asset ratio from 14.85% at June 30, 1999 to 14.19% at
September 30, 1999. On-going efforts by the Board of Directors and management
are being made to increase earnings per share and build additional shareholder
value.
The Board of Directors declared a quarterly dividend of $0.07 per share
at their October 8, 1999 meeting. The record date for ownership is October 25,
1999 with a payable date of November 8, 1999.
Peoples Federal operates from its main office at 101 E. Court Street,
Sidney and its branches at 405 S. Pike Street, Anna and 115 W. Pike Street,
Jackson Center, Ohio.
When used in this press release or other public or shareholder
communications, in filings by Peoples-Sidney Financial Corporation with the
Securities and Exchange Commission and in oral statements made with the approval
of an authorized executive officer, the words or phrases "should," "should
result," "will likely result," "will enable," "are expected to," "will
continue," "is anticipated," "estimate," "project," or similar expressions are
intended to identify "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements are subject to
certain risks and uncertainties, including changes in economic conditions in the
Corporation's market area, changes in policies by regulatory agencies,
fluctuations in interest rates, demand for loans in the Corporation's market
area and competition, that could cause actual results to differ materially from
historical results and those presently anticipated or projected. The Corporation
wishes to caution readers not to place undue reliance on forward-looking
statements, which speak only as of the date made. The Corporation wishes to
advise readers that the factors listed could affect the Corporation's financial
performance and could cause the Corporation's actual results for future periods
to differ materially from any opinions or statements expressed with respect to
future periods in any current statements.
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The Corporation does not undertake-and specifically declines any
obligation-to publicly release the result of any revisions which may be made to
any forward-looking statements to reflect events or circumstances after the date
of such statements or to reflect the occurrence of anticipated or unanticipated
events.
