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)
March 9, 1998
SISTERSVILLE BANCORP, INC.
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(Exact name of Registrant as specified in its Charter)
Delaware 0-22535 31-1515424
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(State or other jurisdiction (SEC File No.) (IRS Employer
of incorporation) Identification
Number)
726 Wells Street, Sistersville, West Virginia 26175
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (304) 652-3671
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Not Applicable
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(Former name or former address, if changed since last Report)
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SISTERSVILLE BANCORP, INC.
INFORMATION TO BE INCLUDED IN REPORT
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Item 5. Other Events
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On March 10, 1998, the Registrant announced that it had completed the
repurchase of 33,071 shares or 5% of its outstanding common stock in the open
market pursuant to a stock repurchase program originally announced by the
Registrant on February 19, 1998. The Registrant currently has 628,357 shares of
common stock outstanding.
For further details, reference is made to the Press Releases dated
February 19, 1998 and March 10, 1998, which are attached hereto as Exhibits 99.1
and 99.2 and incorporated herein by this reference.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits
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Exhibit 99.1 -- Press Release dated February 19, 1998.
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Exhibit 99.2 -- Press Release dated March 10, 1998.
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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.
SISTERSVILLE BANCORP, INC.
Date: March 10, 1998 By: /s/Stanely M. Kiser
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Stanley M. Kiser
President and Chief
Executive Officer
EXHIBIT 99.1
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[SISTERSVILLE BANCORP, INC. LETTERHEAD]
FOR IMMEDIATE RELEASE FOR FURTHER INFORMATION CONTACT:
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February 19, 1998 Stanley M. Kiser
President and Chief Executive Officer
(304) 652-3671
SISTERSVILLE BANCORP, INC. ANNOUNCES STOCK REPURCHASE
Sistersville, West Virginia -- Sistersville Bancorp, Inc., the parent
holding company of First Federal Savings Bank, today announced that it has
received the necessary regulatory and Board approval to initiate a repurchase
plan covering up to 5% or 33,071 shares of the Company's common stock to be
purchased in the open market. The company currently has 661,428 shares of common
stock outstanding. Mr. Stanley M. Kiser, President and Chief Executive Officer
of the Company, indicated that the repurchase plan could mitigate some of the
potentially dilutive effects of the Company's stock benefit plans and would also
be available for general corporate use. The repurchases will be made from time
to time in open-market transactions, subject to the availability of stock.
The Company became the holding company for the Bank on June 25, 1997,
following its initial public offering at the time of the conversion of the Bank
from the mutual to stock form of ownership.
First Federal Savings Bank is a federally-chartered savings bank which
conducts its business in Sistersville, West Virginia. The Bank's deposits are
insured up to the maximum legal amount by the Federal Deposit Insurance
Corporation (FDIC). The Company's common stock is traded in the over-the-counter
market with quotations available through the OTC "Electronic Bulletin Board"
under the symbol "SVBC."
EXHIBIT 99.2
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[SISTERSVILLE BANCORP, INC. LETTERHEAD]
FOR IMMEDIATE RELEASE FOR FURTHER INFORMATION CONTACT:
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March 10, 1998 Stanley M. Kiser
President and Chief Executive Officer
(304) 652-3671
SISTERSVILLE BANCORP, INC. ANNOUNCES COMPLETION
OF STOCK REPURCHASE
Sistersville, West Virginia -- Sistersville Bancorp, Inc., the parent
holding company of First Federal Savings Bank, today announced that it completed
the repurchase of 33,071 shares, or 5% of the Company's outstanding common
stock, through open market purchases. The company currently has 628,357 shares
of common stock outstanding.
The Company became the holding company for the Bank on June 25, 1997,
following its initial public offering at the time of the conversion of the Bank
from the mutual to stock form of ownership.
First Federal Savings Bank is a federally-chartered savings bank which
conducts its business in Sistersville, West Virginia. The Bank's deposits are
insured up to the maximum legal amount by the Federal Deposit Insurance
Corporation (FDIC). The Company's common stock is traded in the over-the-counter
market with quotations available through the OTC "Electronic Bulletin Board"
under the symbol "SVBC."
