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)
May 16, 2000
FARNSWORTH BANCORP, INC.
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(Exact name of Registrant as specified in its Charter)
New Jersey 0-24621 22-3591051
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(State or other jurisdiction (SEC File No.) (IRS Employer
of incorporation) Identification
Number)
789 Farnsworth Avenue, Bordentown, NJ. 08505
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (609)298-0723
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Not Applicable
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(Former name or former address, if changed since last Report)
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FARNSWORTH BANCORP, INC.
INFORMATION TO BE INCLUDED IN REPORT
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Item 5. Other Events
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On May 16, 2000, the Registrant announced that it intended to initiate
a repurchase of 5%, or 18,992 shares of its outstanding common stock in the open
market. The Registrant announced that the repurchases would be made from time to
time in open market transactions, subject to the availability of stock.
For further details, reference is made to the Press Release dated May
16, 2000, which is attached hereto as Exhibit 99 and incorporated herein by this
reference.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits
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Exhibit 99 -- Press Release dated May 16, 2000.
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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, thereunto duly authorized.
FARNSWORTH BANCORP, INC.
Date: May 19, 2000 By: /s/Gary N. Pelehaty
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Gary N. Pelehaty
President and Chief
Executive Officer
EXHIBIT 99
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FOR IMMEDIATE RELEASE FOR FURTHER INFORMATION CONTACT:
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May 16, 2000 Gary N. Pelehaty
President and Chief Executive Officer
(609) 298-0723
FARNSWORTH BANCORP, INC. ANNOUNCES STOCK REPURCHASE
Bordentown, New Jersey -- Farnsworth Bancorp, Inc., the parent holding
company of Peoples Savings Bank, Bordentown, New Jersey, today announced it had
received the necessary regulatory and Board approval to repurchase up to 5% or
18,992 shares of the Company's common stock. The company currently has 379,858
shares of common stock outstanding. Mr. Gary N. Pelehaty, President and Chief
Executive Officer of the Company, indicated that the repurchase plan could
mitigate some of the potentially dilutive effects of the Company's stock benefit
plans and would also be available for general corporate use. The repurchases
will be made from time to time in open-market transactions, subject to the
availability of stock.
The Company became the holding company for the Bank on September 29,
1998, following its initial public offering at the time of the Bank's conversion
to the stock form of ownership.
Peoples Savings Bank is a federally chartered stock savings bank which
conducts its business from three offices located in Bordentown, Florence and
Mount Laurel, New Jersey. The Bank's deposits are insured up to the maximum
legal amount by the Federal Deposit Insurance Corporation (FDIC). The Company's
common stock is traded in the over-the-counter market with quotations available
through the OTC "Electronic Bulletin Board" under the symbol "FNSW."
