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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). January 24, 1994
DAUPHIN DEPOSIT CORPORATION
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(Exact name of registrant as specified in its charter)
Pennsylvania 0-8415 23-1938831
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization File No.) Identification Number
213 Market Street, Harrisburg, Pennsylvania 17105
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(717) 255-2121
NOT APPLICABLE
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(Former name or address, if changed, since last report)
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Item 5. Other Events
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Authorization of Stock Repurchases
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On January 24, 1994, the Board of Directors of the Corporation
authorized the repurchase of up to 1,000,000 shares of the Corporation's
outstanding common stock. Pursuant to the authorization, appropriate senior
officers of the Corporation may direct the repurchases at times and in amounts
determined by them to be prudent.
The Corporation expects to use available cash to fund the repurchases
and does not anticipate borrowing for this purpose. Repurchases will be made
from time to time on the open market or in privately negotiated transactions.
The shares to be purchased will be used for general corporate purposes including
reissuance in connection with the Corporation's Employee Stock Purchase Plan,
Stock Option Plan and such other benefit plans as may hereinafter be adopted by
the Corporation.
The press release announcing the authorization of the share repurchases
is attached hereto as Exhibit 99 and incorporated herein by reference.
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Item 7. Financial Statements, Pro Forma Financial Information and
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Exhibits
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(c) Exhibits
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99. Press Release, dated January 24, 1994, announcing
authorization of stock repurchases.
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SIGNATURE
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.
DAUPHIN DEPOSIT CORPORATION
BY: /s/ Dennis L. Dinger
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Dennis L. Dinger
Executive Vice President
and Chief Financial Officer
Date: January 27, 1994
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EXHIBIT INDEX
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Exhibit Number Description Page
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99 Press Release, dated January 24, 6
1994, announcing authorization of
stock repurchases.
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EXHIBIT 99
[LETTERHEAD OF DAUPHIN DEPOSIT APPEARS HERE] NEWS
FOR IMMEDIATE RELEASE CONTACT: N. Bruce Pinto
January 24, 1994 Vice President
(717) 255-2066
DAUPHIN DEPOSIT AUTHORIZES 1,000,000 SHARE REPURCHASE;
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DECLARES QUARTERLY DIVIDEND
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Harrisburg, PA, January 24, 1994...Dauphin Deposit Corporation announced
that its board of directors declared a regular quarterly cash dividend and
authorized the repurchase of up to 1,000,000 shares of the Corporation's common
stock. Dauphin presently has 32,507,414 shares outstanding.
The quarterly dividend of $.23 per share will be paid on April 15, 1994 to
shareholders of record March 25, 1994.
Dauphin expects to use available cash to fund the share repurchases which
will be made from time to time on the open market or in privately negotiated
transactions. The Corporation said that the shares purchased under the
authorization would be used for general corporate purposes, including the
Corporation's Employee Stock Purchase Plan, Stock Option Plan and other
appropriate uses.
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Dauphin Deposit Corporation, with $4.9 billion in assets and headquartered
in Harrisburg, Pennsylvania, is the parent company of Dauphin Deposit Bank and
Trust Company, which includes the Bank of Pennsylvania and the Valleybank
Divisions, and Farmers Bank and Trust Company of Hanover. Other subsidiaries of
Dauphin are: Hopper Soliday & Co., Inc.; Dauphin Life Insurance Company; Dauphin
Investment Company; Farmers Mortgage Corporation; Financial Realty, Inc.; and
FARMCO Realty, Inc.
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