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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) October 19, 1999
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SECURITY OF PENNSYLVANIA FINANCIAL CORP.
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(Exact name of registrant as specified in its charter)
Delaware 1-14577 23-2980576
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(State or other Jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification No.)
31 W. Broad Street, Hazleton, Pennsylvania 18201
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(Address of principal executive offices)
(570) 454-0824
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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 October 19, 1999, Security of Pennsylvania Financial Corp. 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 October 19, 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 hereunto duly authorized.
Dated: October 19, 1999 By: /s/ Richard C. Laubach
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Richard C. Laubach
President and Chief Executive Officer
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EXHIBIT 99.1 PRESS RELEASE
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[SECURITY OF PENNSYLVANIA FINANCIAL CORP. LETTERHEAD]
FOR IMMEDIATE RELEASE
Contact: Richard C. Laubach
President and Chief Executive Officer
Security of Pennsylvania Financial Corp.
31 West Broad Street
Hazleton, Pennsylvania 18201
(570) 454-0824
SECURITY OF PENNSYLVANIA FINANCIAL CORP.
COMPLETES STOCK REPURCHASE PROGRAM
Hazleton, Pennsylvania, October 19, 1999 -- Security of Pennsylvania
Financial Corp. (AMEX-SPN), the holding company for Security Savings Association
of Hazleton, announced that as of October 18, 1999, it had completed its
repurchase of 79,350 shares of its common stock at an average cost of $10.00 per
share.
Richard C. Laubach, President and Chief Executive Officer of Security of
Pennsylvania Financial Corp., said that the Company had completed the stock
repurchase program previously approved by its Board of Directors to repurchase
up to five percent of the Company's outstanding shares. Following the
repurchase, the Company has 1,507,650 outstanding shares.
Security Savings Association of Hazleton is headquartered in Hazleton,
Pennsylvania, and operates through its administrative/branch office in Hazleton
and through three other full service branches located in Luzerne and Carbon
counties in Northeast Pennsylvania. The Bank's deposits are insured by the
Federal Deposit Insurance Corporation.
