DAUPHIN DEPOSIT CORP
8-K, 1994-07-05
STATE COMMERCIAL BANKS
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<PAGE>
 
                     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 1, 1994


                         DAUPHIN DEPOSIT CORPORATION
- --------------------------------------------------------------------------------
           (Exact name of registrant as specified in its charter)



         Pennsylvania                  0-8415                23-1938831
- -------------------------------      ----------         ------------------------
(State or other jurisdiction of      (Commission        (I.R.S. Employer
incorporation or organization)       File No.)          Identification Number)



    213 Market Street, Harrisburg, Pennsylvania                    17105
- --------------------------------------------------------------------------------
    (Address of principal executive offices)                    (Zip Code)



             Registrant's telephone number, including area code:


                               (717) 255-2121



                               NOT APPLICABLE
- --------------------------------------------------------------------------------
           (Former name or address, if changed, since last report)
<PAGE>
 
ITEM 5    OTHER EVENTS.
          ------------

          Effective July 1, 1994, Dauphin Deposit Corporation (the 
"Corporation"), through its wholly-owned bank subsidiary, Dauphin Deposit Bank
and Trust Company ("Dauphin Bank") acquired 100% of the outstanding stock of 
Eastern Mortgage Services, Inc. ("EMS"), a closely-held mortgage banking 
company headquartered in Trevose, Pennsylvania.

          Pursuant to the definitive Stock Purchase Agreement dated May 26, 
1994, the outstanding stock of EMS was acquired by Dauphin Bank for a purchase
price of approximately $20,000,000 in cash, subject to post-closing 
adjustments.  EMS will be operated as a wholly-owned subsidiary of Dauphin 
Bank.

          A copy of the Corporation's Press Release regarding the consummation
of the acquisition is attached hereto as Exhibit 99 and by this reference 
incorporated herein.

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<PAGE>
 
ITEM 7  FINANCIAL STATEMENTS, PRO-FORMA FINANCIAL INFORMATION AND EXHIBITS.
        -------------------------------------------------------------------

           (c) Exhibits.
  
               99     Dauphin Deposit Corporation Press Release dated
                      July 1, 1994.

        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
                       ---------------------------
                          Dennis L. Dinger
                          Executive Vice President and
                          Chief Financial Officer


Date: July 1, 1994



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<PAGE>
 
 
                                EXHIBIT INDEX


Exhibit 
Number                        Description                      Page
- -------                       -----------                      ----
  99                Press Release, dated July 1, 1994,          5
                    announcing consummation of acquisition
                    of Eastern Mortgage Services, Inc. by
                    Dauphin Deposit Bank and Trust Company 



                                      4


<PAGE>
 
 
              [LETTERHEAD OF DAUPHIN DEPOSIT BANK APPEARS HERE]

FOR IMMEDIATE RELEASE                         CONTACT: N. Bruce Pinto
July 1, 1994                                           Vice President
                                                       (717) 255-2066

             DAUPHIN DEPOSIT ACQUIRES EASTERN MORTGAGE SERVICES

     Harrisburg, PA, July 1, 1994...Dauphin Deposit Bank and Trust Company 
completed the previously announced acquisition of Eastern Mortgage Services, 
Inc., a closely held mortgage banking company headquartered in Trevose, 
Pennsylvania.
     Dauphin paid approximately $20 million in cash for all the outstanding 
stock of Eastern Mortgage. The price is subject to post closing adjustments.
     Marvin Bank, managing director and chief executive officer of Eastern 
Mortgage will continue to function in that capacity. Eastern Mortgage  
services approximately $635,000,000 of first mortgage loans on residential 
property, primarily in the eastern Pennsylvania and New Jersey markets.
     Dauphin Deposit Bank and Trust Company, headquartered in Harrisburg, PA, 
includes the Reading based Bank of Pennsylvania, the Hanover based Farmers 
Bank and the Chambersburg based Valleybank Divisions. The Bank is a 
subsidiary of Dauphin Deposit Corporation, the leading independent bank 
holding company in Central Pennsylvania.

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