FORM 10-Q
SECURITIES EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
(Mark One)
(X) Quarterly Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the quarterly period ended March 31, 1998
----------------------------------------------
OR
( ) Transition Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the transition period from _________ to__________
Commission File Number: to be assigned ________________
FIRST NATIONAL COMMUNITY BANCORP, INC.
--------------------------------------
(Exact name of registrant as specified in its charter)
Pennsylvania 23-2900790
------------ ----------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
102 East Drinker Street
Dunmore, Pennsylvania 18512
-----------------------------------------------
(Address of principal executive offices)(Zip Code)
(717) 346-7667
--------------------------
(Registrant's telephone number, including area code)
N/A
---------------------------
(Former Name, former address and former fiscal year,
if changed since last report)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
Yes [X] No [ ]
--- ---
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS:
Indicate by check mark whether registrant has filed all documents and
reports required to be filed by Section 12, 13 or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a plan
confirmed by a court.
Yes [ ] No [ ]
--- ---
APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the issuer's classes
of Common Stock, as of the latest practicable date.
Common Stock, $1.25 Par Value 2
----------------------------- -------
Class Outstanding Shares at
May 8, 1998
<PAGE>
PART I. FINANCIAL INFORMATION
First National Community Bancorp, Inc. (the "Registrant") was incorporated
to serve as the stock holding company for First National Community Bank, a
National bank (the "Bank") in connection with the Bank's reorganization into a
one-bank holding company structure. As of the date hereof, the Bank has not
completed its reorganization, and, accordingly, the Registrant has no assets or
liabilities, has not engaged in any operations or transactions except pursuant
to the reorganization and currently has $2.50 of initial capitalization.
Item 1. Financial Statements
N/A
Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations
N/A
Item 3. Quantitative and Qualitative Disclosures about
Market Risk
N/A
PART II. OTHER INFORMATION
Item 1. Legal Proceedings
None
Item 2. Changes in Securities and Use of Proceeds
None
Item 3. Defaults Upon Senior Securities
None
<PAGE>
Item 4. Submission of Matters to a Vote of Security Holders
None
Item 5. Other information
None
Item 6. Exhibits and Reports on Form 8-K
a. Exhibits
Exhibit 2(a) Plan of Reorganization, dated
March 12, 1997, by and among Registrant, First
National Community Interim Bank and First
National Community Bank, incorporated by
reference to Exhibit A of the Proxy Statement/
Prospectus included in Registrant's
Registration Statement No. 333-24121 on Form S-
4, filed with the Commission on March 28, 1997.
Exhibit 2(b) Plan of Merger, dated March 12, 1997, by and
among First National Community Interim Bank and
First National Community Bank, incorporated by
reference to Exhibit B of the Proxy Statement/
Prospectus included in Registrant's
Registration Statement No. 333-24121 on Form S-
4, filed with the Commission on March 28, 1997.
Exhibit 3(i) Articles of Incorporation of Registrant,
incorporated by reference to Exhibit C of the
Proxy Statement/ Prospectus included in
Registrant's Registration Statement No. 333-
24121 on Form S-4, filed with the Commission on
March 28, 1997.
Exhibit 3(ii) Bylaws of Registrant, incorporated by reference
to Exhibit D of the Proxy Statement/ Prospectus
included in Registrant's Registration Statement
No. 333-24121 on Form S-4, filed with the
Commission on March 28, 1997.
Exhibit 27 Financial Data Schedule.
b. No reports on Form 8-K were filed for the
quarter ending March 31, 1998.
<PAGE>
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.
FIRST NATIONAL COMMUNITY BANCORP, INC.
Date: May 12, 1998 /s/ J. David Lombardi, President
------------------ ---------------------------------
J. David Lombardi, President
(Chief Executive Officer)
Date: May 12, 1998 /s/ William S. Lance, Treasurer
------------------ ----------------------------------
William S. Lance, Treasurer
(Chief Financial and Accounting
Officer)
<PAGE>
EXHIBIT INDEX
Sequential Page
Number in Manually
Exhibit Number Signed Original
- -------------- ------------------
Exhibit 2(a) Plan of Reorganization, dated
March 12, 1997, by and among
Registrant, First National
Community Interim Bank and
First National Community Bank,
incorporated by reference to
Exhibit A of the Proxy Statement/
Prospectus included in
Registrant's Registration
Statement No. 333-24121 on
Form S-4, filed with the
Commission on March 28, 1997.
Exhibit 2(b) Plan of Merger, dated March 12,
1997, by and among First National
Community Interim Bank and
First National Community Bank,
incorporated by reference to
Exhibit B of the Proxy Statement/
Prospectus included in Registrant's
Registration Statement No. 333-24121
on Form S-4, filed with the Commission
on March 28, 1997.
Exhibit 3(i) Articles of Incorporation of Registrant,
incorporated by reference to Exhibit
C of the Proxy Statement/Prospectus
included in Registrant's Registration
Statement No. 333-24121 on Form S-4,
filed with the Commission on
March 28, 1997.
Exhibit 3(ii) Bylaws of Registrant, incorporated by
reference to Exhibit D of the Proxy
Statement/ Prospectus included in
Registrant's Registration Statement
No. 333-24121 on Form S-4, filed
with the Commission on March 28, 1997.
Exhibit 27 Financial Data Schedule. 6
<TABLE> <S> <C>
<ARTICLE> 9
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> MAR-31-1998
<CASH> 3
<INT-BEARING-DEPOSITS> 0
<FED-FUNDS-SOLD> 0
<TRADING-ASSETS> 0
<INVESTMENTS-HELD-FOR-SALE> 0
<INVESTMENTS-CARRYING> 0
<INVESTMENTS-MARKET> 0
<LOANS> 0
<ALLOWANCE> 0
<TOTAL-ASSETS> 0
<DEPOSITS> 0
<SHORT-TERM> 0
<LIABILITIES-OTHER> 0
<LONG-TERM> 0
0
0
<COMMON> 3
<OTHER-SE> 0
<TOTAL-LIABILITIES-AND-EQUITY> 0
<INTEREST-LOAN> 0
<INTEREST-INVEST> 0
<INTEREST-OTHER> 0
<INTEREST-TOTAL> 0
<INTEREST-DEPOSIT> 0
<INTEREST-EXPENSE> 0
<INTEREST-INCOME-NET> 0
<LOAN-LOSSES> 0
<SECURITIES-GAINS> 0
<EXPENSE-OTHER> 0
<INCOME-PRETAX> 0
<INCOME-PRE-EXTRAORDINARY> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 0
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
<YIELD-ACTUAL> 0
<LOANS-NON> 0
<LOANS-PAST> 0
<LOANS-TROUBLED> 0
<LOANS-PROBLEM> 0
<ALLOWANCE-OPEN> 0
<CHARGE-OFFS> 0
<RECOVERIES> 0
<ALLOWANCE-CLOSE> 0
<ALLOWANCE-DOMESTIC> 0
<ALLOWANCE-FOREIGN> 0
<ALLOWANCE-UNALLOCATED> 0
</TABLE>
