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 9, 2000
THISTLE GROUP HOLDINGS, CO.
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(Exact name of Registrant as specified in its Charter)
Pennsylvania 000-24353 23-2960768
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(State or other jurisdiction (SEC File No.) (IRS Employer
of incorporation) Identification
Number)
6060 Ridge Avenue, Philadelphia, Pennsylvania 19128
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (215) 483-2800
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Not Applicable
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(Former name or former address, if changed since last Report)
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THISTLE GROUP HOLDINGS, CO.
INFORMATION TO BE INCLUDED IN REPORT
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Item 5. Other Events
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On February 8, 2000, the Registrant issued a press release
announcing that it had organized a broker-dealer to conduct business as TGH
Securities. The transaction is further described in a press release, dated
February 8, 2000, which is attached as Exhibit 99 to this report.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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(c) Exhibits:
99 Press Release dated February 8, 2000
<PAGE>
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, thereunto duly authorized.
THISTLE GROUP HOLDINGS, CO.
Date: February 9, 2000 By: /s/John F. McGill, Jr.
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John F. McGill, Jr.
Chief Executive Officer
EXHIBIT 99
PRESS RELEASE
<PAGE>
Thistle Group Holdings, Co.
- -------------- Contacts: John F. McGill Jr., President
Pam Cyr, Dir. of Investor Relations
News 6060 Ridge Avenue
Release Philadelphia, PA 19128
Phone: 215-483-2800
Fax: 215-483-1038
- -------------- Web: RMBgo.com
THISTLE GROUP HOLDINGS, CO. ORGANIZES BROKER DEALER
Philadelphia, PA, February 8, 2000- Thistle Group Holdings, Co., (the "Company")
(NASDAQ: THTL) announced today it organized a broker dealer which will conduct
business as TGH Securities. The wholly owned subsidiary will be headed by
Allison F. Fleitas II and will focus on underwriting and trading short-term
municipal bonds. Mr. Fleitas was most recently a senior vice president at
Commerce Capital Markets ("CCM") where he ran the municipal notes desk. Joining
Mr. Fleitas at TGH Securities is Darren L. Smith also formerly with CCM.
Commenting on the new company, John F. McGill, Jr., President, of Thistle said
"TGH Securities is consistent with our overall strategy to allocate capital into
non-rate sensitive investments at the holding company level. Allison Fleitas,
with over 20 years of experience, has lead his group to be consistently ranked
among the nation's top underwriters of short-term municipal bonds. TGH
Securities is expected to be accretive to earnings in its first year of
operations. By combining Allison's institutional expertise and relationships
with our commitment to technology, including the Internet, it is expected that
TGH Securities will make a profitable line of business even better.
Pending final regulatory approval TGH Securities is expected to commence
operations during the second quarter of 2000 in Blue Bell, Pennsylvania.
Thistle Group Holdings Co. is a Philadelphia based unitary thrift holding
company whose principal subsidiary is Roxborough Manayunk Bank. At December 31,
1999, the Company had total assets, deposits and stockholders' equity of $555
million, $293 million, and $75 million, respectively. Thistle Group trades on
the NASDAQ under the symbol "THTL".
