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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):
August 26, 1999
BCSB BANKCORP, INC.
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(Exact name of registrant as specified in its charter)
United States 0-24589 52-2108333
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(State or other jurisdiction (Commission (I.R.S. employer
of incorporation) file number) identification no.)
4111 E. Joppa Road, Suite 300, Baltimore, Maryland 21236
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code:
(410) 256-5000
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 August 26, 1999, the Board of Directors of the
Registrant announced that it was commencing a stock repurchase
program to acquire up to 320,124 shares of its common stock,
representing approximately 5% of the outstanding common stock of
the Registrant.
Further information regarding the stock repurchase is set
forth in a press release dated August 26, 1999, attached as
Exhibit 99 and incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
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AND EXHIBITS
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The following is a list of exhibits filed with this Current
Report on Form 8-K.
Exhibit No. Description
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99 Press Release, dated August 26, 1999
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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 hereto duly authorized.
BCSB BANKCORP, INC.
Date: August 30, 1999 By: /s/ David M. Meadows
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David M. Meadows
Vice President
BCSB BANKCORP, INC.
PRESS RELEASE
FOR RELEASE THURSDAY, AUGUST 26, 1999 AT 4:00 P.M.
For More Information Contact
David Meadows
Baltimore County Savings Bank
(410) 256-5000
BCSB BANKCORP, INC.
ANNOUNCES
STOCK REPURCHASE PROGRAM
Baltimore, Maryland...
BCSB Bankcorp, Inc. announced that it is commencing a stock
repurchase program to acquire up to 320,124 shares of the
Corporation's common stock, which represents approximately 5% of
the Company's outstanding shares of common stock, in part to
fund stock plans approved by the stockholders at a Special
Meeting held on July 15, 1999. The program will be dependent
upon market conditions and there is no guarantee as to the exact
number of shares to be repurchased by the Corporation.
Gary C. Loraditch, President of the Corporation, stated
that the Board of Directors has authorized the repurchase
program, which is expected to be completed within twelve months.
Mr. Loraditch explained that the Board of Directors considers
the Corporation's common stock to be an attractive investment.
It is expected that a reduction in the amount of the
Corporation's outstanding stock would have the effect of
increasing the Corporation's per share book value, earnings and
return on equity.
According to Mr. Loraditch, the repurchase generally would
be effected through open market purchases, although he did not
rule out the possibility of unsolicited negotiated transactions
or other types of repurchases.
This press release contains statements that are
forward-looking, as that term is defined by the Private
Securities Litigation Act of 1995 or the Securities and Exchange
Commission in its rules, regulations, and releases. The Company
intends that such forward-looking statements be the subject to
the safe harbors created thereby. All forward-looking
statements are based on values and the impact of interest rates
on financing. Accordingly, actual results may differ from those
expressed in the forward-looking statements, and the making of
such statements should not be regarded as a representation by
the Company or any other person that results expressed therein
will be achieved.
