SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
ANNUAL REPORT
PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934 [NO FEE REQUIRED, EFFECTIVE OCTOBER 7, 1996].
For the fiscal year ended December 31, 1999
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OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934 [NO FEE REQUIRED].
For the transition period from _______________ to ______________________
Commission File Number 0-23654
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A. Full title of the plan and the address of the plan, if different from that
of the issuer named below:
Leeds Federal Savings Bank Retirement Savings Plan and Trust
B: Name of issuer of the securities held pursuant to the plan and the address
of its principal executive office:
Leeds Federal Bankshares, Inc.
1101 Maiden Choice Lane
Baltimore, Maryland 21229-5411
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SUMMARY ANNUAL REPORT
FOR
Leeds Federal Savings Bank Retirement And Savings Plan & Trust
This is a summary of the annual report for Leeds Federal Savings Bank Retirement
And Savings Plan & Trust, 52-0386310 for 01/01/1999 through 12/31/1999. The
annual report has been filed with the Internal Revenue Service, as required
under the Employee Retirement Income Security Act of 1974 (ERISA).
Basic Financial Statement
Benefits under the plan are provided by a trust. Plan expenses were $7,272.
These expenses included $ {Not applicable) in administrative expenses and $7,272
in benefits paid to participants and beneficiaries, and $0 in other expenses. A
total of 28 persons were participants in or beneficiaries of the plan at the end
of the plan year, although not all of these persons had yet earned the right to
receive benefits.
The value of plan assets, after subtracting liabilities of the plans, was
$965,975 as of 12/31/1999, compared to $884,907 as of 01/01/1999. During the
plan year the plan experienced an increase in its net assets of $81,068. This
increase includes unrealized appreciation or depreciation in the value of plan
assets; that is, the difference between the value of the plan's assets at the
end of the year and the value of the assets at the beginning of the year or the
cost of assets acquired during the year. The plan had total income of $88,340,
including employer contributions of $35,471, employee contributions of $62,016,
gains/losses of $N/A from the sale of assets and earnings from investments of
($9,147).
Your Rights to Additional Information
You have the right to receive a copy of the full annual report, or any part
thereof, on request. The items listed below are in that report: Schedules R, T
and I
To obtain a copy of the full annual report, or any part thereof, write or call
the office of Leeds Federal Savings Bank, who is Plan Administrator, 1101 MAIDEN
CHOICE LANE, BALTIMORE, MD, 21229-5499, (410) 242-1234. The charge to cover
copying cost will be $0.00 for the full annual report, or $0.00 per page for any
part thereof.
You also have the right to receive from the plan administrator, on request and
at no charge, a statement of the assets and liabilities of the plan and
accompanying notes, or a statement of income and expenses of the plan and
accompanying notes, or both. If you request a copy of the full annual report
from the plan administrator, these two statements and accompanying notes will be
included as part of that report. The charge to cover copying costs given above
does not include a charge for copying of these portions of the report because
these portions are fumished without charge.
You also have the legally protected right to examine the annual report at the
main office of the plan 1101 MAIDEN CHOICE LANE, BALTIMORE, MD, 21229-5499 and
at the US Department of Labor in Washington DC, or obtain a copy from the US
Department of Labor upon payment of copying costs. Requests to the Department
should be addressed to: Public Disclosure Room, N5638, Pension and Welfare
Benefit Administration, US Department of Labor, 200 Constitution Avenue, NW,
Washington DC 20210.
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SIGNATURES
The Plan. Pursuant to the requirements of the Securities Exchange Act
of 1934, the trustees (or other persons who administer the employee benefit
plan) have duly caused this annual report to be signed on its behalf by the
undersigned hereunto duly authorized.
LEEDS FEDERAL SAVINGS BANK RETIREMENT
SAVINGS PLAN AND TRUST
Date: June 22, 2000 By: Dale R. Douglas
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Name: Dale R. Douglas
Title: Senior Vice President
