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) July 29, 1998 (July 1, 1998)
Alliance Bancorp of New England, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware 001-13405 06-1495617
(State of Other Jurisdiction (Commission File IRS Employer
of Incorporation) Number) Identification No.
348 Hartford Turnpike, Vernon, CT 06066
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (860) 875-2500
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events.
On July 1, 1998, the Alliance Bancorp of New England, Inc. ("Alliance")
announced the repurchase of a block of its outstanding common stock from an
institutional holder in a privately negotiated transaction. A copy of the
press release announcing the stock repurchase is attached hereto as Exhibit
99.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Financial Statements of Businesses Acquired
Not applicable
(b) Pro Forma Financial Information
Not applicable
(c) Exhibits
(99) Press release dated July 1, 1998
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 hereto duly authorized.
ALLIANCE BANCORP OF
NEW ENGLAND, INC.
Registrant
Date: July 29, 199 By: __________/s/_______________
David H. Gonci
Vice President/Chief Financial
Officer
DAVID GONCI
VICE PRESIDENT/
CHIEF FINANCIAL OFFICER
Vernon, CT - July 2, 1998
ALLIANCE BANCORP OF NEW ENGLAND, INC.
ANNOUNCES COMPLETION OF STOCK REPURCHASE
Alliance Bancorp of New England, Inc. announced that it has repurchased a
block representing approximately 8.0% of its common stock from an
institutional shareholder. The repurchase was a privately negotiated
transaction totalling 200,599 shares and was completed at a price below the
closing price on July 1, 1998.
Joseph Rossi, President and Chief Executive Officer said, "This action
reflects the Board of Directors' belief that Alliance's stock is an attractive
investment and that this purchase will enhance shareholder value. Also,
through this purchase, the company acted to minimize potential market impact
from this transaction, since the block of shares repurchased was well in
excess of the average monthly volume in our stock."
The company anticipates the shares repurchased may eventually be used for
funding of certain existing and future benefit plans.
Alliance Bancorp of New England, Inc. (AMEX:ANE) is the holding company for
Tolland Bank, a Connecticut-chartered savings bank serving Tolland County and
the surrounding communities.
