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 1, 2000
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Harleysville Savings Financial Corporation
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(Exact name of registrant as specified in its charter)
Pennsylvania 0-29709 23-3028464
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(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
271 Main Street, Harleysville, Pennsylvania 19401
_____________________________________________________________________________
(Address of principal executive offices) (Zip Code)
(215) 256-8828
_____________________________________________________________________________
(Registrant's telephone number, including area code)
Not Applicable
_____________________________________________________________________________
(Former name, former address and former fiscal year, if changed since last
report)
Item 5. Other Matters
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On March 1, 2000, Harleysville Savings Financial Corporation (the
"Company") announced that the Company's Board of Directors authorized the
repurchase of up to 113,037 shares, or approximately 5 percent, of the
Company's outstanding common stock. For additional information, reference is
made to the Press Release, dated March 1, 2000, which is attached hereto as
Exhibit 99 and is incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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(a) Financial Statements of Business Acquired
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Not applicable.
(b) Pro Forma Financial Information
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Not applicable.
(c) Exhibits
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99 Press Release, dated March 1, 2000
SIGNATURES
Under the requirements of the Securities Exchange Act of 1934,
Harleysville Savings Financial Corporation has duly caused this report to be
signed on its behalf by the undersigned thereunto duly authorized.
HARLEYSVILLE SAVINGS FINANCIAL
CORPORATION
Date: March 1, 2000 By: /s/Edward J. Molnar
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Edward J. Molnar
President and Chief Executive
Officer
Exhibit 99
[HARLEYSVILLE LOGO]
FOR IMMEDIATE RELEASE FOR FURTHER INFORMATION
March 1, 2000 Brendan J. McGill
Senior Vice President and
Chief Financial Officer
(215) 256-8828
HARLEYSVILLE SAVINGS FINANCIAL CORPORATION
TO REPURCHASE UP TO 113,037 SHARES OF COMMON STOCK
Harleysville, Pennsylvania - March 1, 2000. Harleysville Savings
Financial Corporation (NASDAQ: HARL) today announced that the Company's Board
of Directors authorized the repurchase of up to 113,037 shares, or
approximately 5 percent, of the Company's outstanding common stock.
Repurchases are authorized to be made by the Company from time to time
in open-market transactions during the next six months as, in the opinion of
management, market conditions warrant. The repurchased shares will be held as
treasury stock, will be reserved for issuance under the Company's stock
benefit plans and will be available for general corporate purposes.
Edward J. Molnar, President and Chief Executive Officer of the Company,
stated: "The repurchase program reflects management's belief that the current
price of the Company's common stock does not adequately reflect the Company's
long-term business and earnings prospects. The use of our cash must continue
to be balanced with other internal and external investment opportunities while
maximizing the use of existing assets and resources to generate stockholder
value. The Company is fortunate to have the financial flexibility that allows
it to demonstrate its commitment to and confidence in its future prospects."
Harleysville Savings Financial Corporation, located in Harleysville,
Pennsylvania, is the holding company for Harleysville Savings Bank.
Harleysville Savings Bank is a Pennsylvania-chartered, federally insured
savings bank headquartered in Harleysville, Pennsylvania. Harleysville
Savings Bank was established in 1915 and is distinguished as a premier
consumer savings bank serving the personal banking needs of individuals and
families.
Harleysville Savings Financial Corporation's common stock is traded on
the Nasdaq National Market System under the symbol: "HARL."
