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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) August 23, 1999
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SOUTH JERSEY FINANCIAL CORPORATION, INC.
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(Exact Name of Registrant as Specified in Its Charter)
Delaware 0-24997 22-3615289
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(State or other Jurisdiction of (Commission (IRS Employer
Incorporation or Organization File Number) Identification No.)
4651 Route 42, Turnersville, New Jersey 08012
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(Address of Principal Executive Offices) (Zip Code)
(609) 629-6000
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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 August 23, 1999, South Jersey Financial Corporation, Inc. (the
"Company"), 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.
ITEM 7. FINANCIAL STATEMENTS AND OTHER EXHIBITS.
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Exhibit 99 Press Release dated August 23, 1999.
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CONFORMED
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.
SOUTH JERSEY FINANCIAL CORPORATION, INC.
Dated: August 24, 1999 By: /s/ Robert J. Colacicco
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Robert J. Colacicco
President and Chief Executive Officer
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EXHIBIT 99 PRESS RELEASE
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SOUTH JERSEY FINANCIAL CORPORATION, INC.
CONTACT:
Robert J. Colacicco
President and Chief Executive Officer
South Jersey Financial Corporation, Inc.
(856) 629-6000
SOUTH JERSEY FINANCIAL CORPORATION, INC.
ANNOUNCES COMPLETION OF STOCK REPURCHASE
Turnersville, New Jersey, August 23, 1999 -- South Jersey Financial Corporation,
Inc., the holding company for South Jersey Savings and Loan Association, has
announced the successful completion of its stock repurchase program. As
previously announced, South Jersey Financial Corporation, Inc. had received
regulatory authorization to purchase up to 5% of the Company's 3,793,430
outstanding shares. Accordingly, the Company has repurchased 189,671 shares of
its common stock in the open market.
South Jersey Financial Corporation, Inc. completed its initial public offering
of common stock in connection with the conversion of South Jersey Savings and
Loan Association from a New Jersey- chartered mutual savings and loan
association to a New Jersey-chartered stock savings and loan association, on
February 12, 1999. In the conversion, South Jersey Financial Corporation, Inc.
issued an aggregate of 3,793,430 shares of its common stock of which 3,512,435
were issued at a purchase price of $10.00 per share in a subscription offering
and 280,995 shares were contributed to the South Jersey Savings Charitable
Foundation, a charitable foundation established by the Association and the
Company.
South Jersey Savings and Loan Association is headquartered in Turnersville, New
Jersey, and operates through its three banking offices located in Gloucester and
Camden Counties in Southwest New Jersey.
