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UNITED STATES
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) April 23, 1999
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NORTHEAST PENNSYLVANIA FINANCIAL CORP.
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(Exact name of registrant as specified in its charter)
Delaware 1-13793 06-1504091
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(State or other Jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification No.)
12 E. Broad Street, Hazleton, Pennsylvania 18201
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(Address of principal executive offices)
(570) 459-3700
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(Registrant's telephone number, including area code)
Not Applicable
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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 April 23, 1999, Northeast Pennsylvania Financial Corp. (the "Company"),
issued a press release which announced that it had completed its repurchase of
5% of the Company's outstanding shares.
A press release announcing the stock repurchase is attached as Exhibit
99.1.
ITEM 7. FINANCIAL STATEMENTS AND OTHER EXHIBITS.
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Exhibit 99.1 Press Release dated April 23, 1999.
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.
Dated: April 23, 1999 By: /s/ E. Lee Beard
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E. Lee Beard
President and Chief Executive Officer
Dated: April 23, 1999 By: /s/ Patrick J. Owens, Jr.
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Patrick J. Owens, Jr.
Senior Vice President and
Chief Financial Officer
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EXHIBIT 99.1 PRESS RELEASE
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NEWS RELEASE
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FOR IMMEDIATE RELEASE
DATE: April 23, 1999
CONTACT: Patrick J. Owens, Jr.
Treasurer
PHONE: (570) 459-3722 office
FAX: (570) 450-6110
NORTHEAST PENNSYLVANIA FINANCIAL CORP. COMPLETES COMMON STOCK
REPURCHASE PROGRAM.
Hazleton, Pa........ E. Lee Beard, President and Chief Executive Officer of
Northeast Pennsylvania Financial Corp. (the "Company") (Amex; NEP), the holding
company for First Federal Bank (the "Bank") announced that as of April 22, 1999,
it has completed its repurchase of 305,299 shares of its common stock at an
average cost of $11.49 per share. The stock repurchase program was previously
approved by its Board of Directors to repurchase up to five percent of the
Company's 6,105,982 outstanding shares.
Northeast Pennsylvania Financial Corp. is the holding company of Abstractors,
Inc., a wholly-owned title insurance agency, and First Federal Bank, which
serves the greater Hazleton area, Mountaintop, Bloomsburg, Lehighton, and all of
Schuylkill County, through ten office locations.
Statements contained in this news release, which are not historical facts, are
forward-looking statements, as the term is defined in the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements are subject to
risk and uncertainties which could cause actual results to differ materially
from those currently anticipated due to a number of factors, which include, but
are not limited to, factors discussed in documents filed by the Company with
the Securities and Exchange Commission from time to time.