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UNITED STATES
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: September 30, 1996
EMERGENT GROUP, INC.
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(Exact name of registrant as specified in its charter)
South Carolina 0-8909 57-0513287
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(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification
incorporation) Number)
Suite 750, 15 South Main Street, Greenville, South Carolina 29601
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code (803) 235-8056
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ITEM 5. OTHER EVENTS
The Company reported on June 9, 1996 on Form 8-K that First Greensboro
Home Equity, Inc. and First Greensboro Home Equity of Arkansas, Inc.
(collectively, "First Greensboro") had terminated their agreement with certain
Emergent Group, Inc. subsidiaries. This termination resulted in litigation
described in the Company's Form 10-Q for the quarter ended June 30, 1996.
On September 17, 1996, First Greensboro and the Company entered into a
settlement agreement resolving all issues associated with such litigation and
such contract termination, in connection with which settlement, First
Greensboro paid the Company $7,250,901.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of the Business Acquired. Not applicable.
(b) Pro Forma Financial Information. Not applicable.
(c) Exhibits
None
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed and on its behalf by the
undersigned hereto duly authorized.
EMERGENT GROUP, INC.
Date: October 2, 1996 BY: /s/ Kevin J. Mast
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Kevin J. Mast
Vice President, Treasurer &
Chief Financial Officer
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