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)
July 8, 1999
Steelton Bancorp, Inc.
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(Exact name of Registrant as specified in its Charter)
Pennsylvania 000-26499 25-1830745
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(State or other jurisdiction (SEC File No.) (IRS Employer
of incorporation) Identification Number)
51 South Front Street, Steelton, Pennsylvania 17113
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (717) 939-1966
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Not Applicable
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(Former name or former address, if changed since last Report)
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INFORMATION TO BE INCLUDED IN REPORT
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Item 5. Other Events
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Reference is made to the press release dated July 9, 1999, 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 July 9, 1999.
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2
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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.
Steelton Bancorp, Inc.
Date: July 14, 1999 By: /s/Harold E. Stremmel
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Harold E. Stremmel
President
EXHIBIT 99
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PRESS RELEASE
Steelton Bancorp, Inc. Contact: Mr. James S. Nelson
51 South Front Street Vice President
Steelton, Pennsylvania Investor Relations
(717) 939-1966
For Immediate Release
July 9, 1999
STEELTON BANCORP, INC. ANNOUNCES
COMPLETION OF STOCK OFFERING
Steelton, Pennsylvania - July 9, 1999 -- Harold Stremmel, Executive
Vice President and Chief Executive Officer, Mechanics Savings Bank (the "Bank"),
announced today that the Bank completed its mutual to stock conversion at the
close of business on July 8, 1999. In connection with the reorganization,
Steelton Bancorp, Inc., the new holding company for the Bank, sold 385,000
shares of common stock in a subscription stock offering for gross proceeds of
$3.85 million.
"We were pleased with the amount of investor interest in Steelton
stock" said Mr. Stremmel. "Steelton Bancorp is excited about being a public
company and it looks forward to continuing the Bank's service to our customers
and our community."
The Bank, formerly known as Mechanics Savings and Loan, FSA, is a
federally chartered savings bank and conducts its business through its main
office in Steelton, and its branch office in Lower Swatara Township,
Pennsylvania. At March 31, 1999, the Bank had total assets of $42.7 million,
total liabilities of $39.0 million and retained earnings of $3.7 million.
Capital Resources, Inc., Washington, D.C. assisted in the conversion.
The Company's common stock began trading on Friday, July 9, 1999 on the
Electronic Bulletin Board under the symbol "SELO."
