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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): March 15, 2000
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FIRST DEPOSIT BANCSHARES, INC.
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(Exact name of Registrant as specified in its charter)
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<S> <C> <C>
Georgia 000-26033 58-2443683
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(State or other jurisdiction of incorporation (Commission File No.) (IRS Employer
or organization) Identification No.)
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8458 Campbellton Street
Douglasville, Georgia 30134-1803
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(Address of principal executive offices, including zip code)
(770) 942-5108
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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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FIRST DEPOSIT BANCSHARES, INC.
INFORMATION TO BE INCLUDED IN REPORT
Item 5. Other Events
The Registrant announced that it had received the required approvals
necessary to implement a stock repurchase plan to purchase up to 5% of its
outstanding common stock held by persons other than First Deposit Bancshares,
Inc. The Registrant will purchase up to 72,450 shares of its outstanding common
stock. For further details, reference is made to the Press Release dated
March 15, 2000, which is attached hereto as Exhibit 99 and incorporated herein
by this reference.
Item 7. Financial Statements And Exhibits
(c) Exhibits
99 Press Release dated March 15, 2000.
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
FIRST DEPOSIT BANCSHARES, INC.
Date: March 15, 2000 /s/ J. David Higgins
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J. David Higgins
President and Chief Executive Officer
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FIRST DEPOSIT BANCSHARES, INC.
ANNOUNCES
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OTS APPROVAL OF STOCK REPURCHASE
Douglasville, Georgia, March 15, 2000 /PRNewswire/ -- First Deposit Bancshares,
Inc. (OTC Bulletin Board: FDBI) ("First Deposit") reported today that the Office
of Thrift Supervision has approved a proposal whereby First Deposit may
repurchase up to 5%, or 72,450 shares, of the currently outstanding common stock
of First Deposit. The stock repurchase program was previously approved by First
Deposit's Board of Directors on January 18, 2000.
The repurchases will be made from time to time, depending upon market
conditions, in open market transactions subject to the availability of such
shares until either July 7, 2000 or until 72,450 shares have been repurchased,
whichever is first to occur. Repurchased shares will become authorized but
unissued shares and will be utilized for general corporate and other purposes.
First Deposit is a thrift holding company with consolidated assets of $117.9
million and shareholders' equity of $23.3 million as of December 31, 1999, and
offices in Douglasville and Lithia Springs, Georgia. First Deposit began
operations in July, 1999, following an initial public offering of its common
stock and the acquisition of its wholly-owned subsidiary, Douglas Federal Bank.
First Deposit's common stock is traded on the Over the Counter Bulletin Board
under the trading symbol FDBI. The closing price of First Deposit's common stock
on March 14, 2000 was $11.8125 per share.
For additional information about First Deposit's products and services, please
visit their web site at www.douglasfederal.com. Additional financial information
regarding First Deposit is available from John L. King, First Deposit's Chief
Financial Officer, at (770) 942-5108.
