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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) February 26, 1999
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 February 26, 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 February 26, 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: February 26, 1999 By: /s/ E. Lee Beard
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E. Lee Beard
President and Chief Executive Officer
Dated: February 26, 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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[NORTHEAST PENNSYLVANIA FINANCIAL CORP. LETTERHEAD]
NEWS RELEASE
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FOR IMMEDIATE RELEASE
DATE: February 26, 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 February
23, 1999, it has completed its repurchase of 321,368 shares of its common
stock at an average cost of $12.59 per share. The stock repurchase program
previously approved by its Board of Directors to repurchase up to five percent
of the Company's 6,427,350 outstanding shares.
Northeast Pennsylvania Financial Corp. completed its initial public
offering of common stock in connection with the conversion of First Federal
Savings and Loan Association of Hazleton from a federally-chartered mutual
savings and loan association to a federally-chartered stock savings bank, First
Federal Bank, on March 31, 1998. In the conversion, Northeast Pennsylvania
Financial Corp. sold 5,951,250 shares at $10.00 per share, raising $59,512,500
in gross proceeds.
(continued)
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NORTHEAST PENNSYLVANIA FINANCIAL CORP.
First Federal Bank is headquartered in Hazleton, Pennsylvania, and
operates through its administrative/branch office in Hazleton and through nine
other full service branches and one loan origination office located throughout
Northeast Pennsylvania. The Bank's deposits are insured by the Federal Deposit
Insurance Corporation.
