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) - September 19,
1995
North Fork Bancorporation, Inc.
(Exact name of Registrant as specified in its charter)
Delaware 1-10458 36-3154608
(State or other jurisdiction (Commission (IRS Employer of
incorporation) File Number) Identification No.)
9025 Main Road
Mattituck, New York 11952
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (516) 298-5000
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Item 5. Other Events
On September 19, 1995, North Fork Bancorporation, Inc. issued
a press release announcing that it will purchase the domestic
commercial banking business of Extebank, a wholly-owned
subsidiary of Banco Exterior de Espana, S.A., Spain. A copy of
such press release is attached hereto as Exhibit 99 and is
incorporated herein by reference.
Item 7. Financial Statement and Exhibits
(c) The following Exhibit is filed with this Current Report
on Form 8-K:
Exhibit
Number Description
99 Press Release of North Fork Bancorporation, Inc., dated
September 19, 1995.
<PAGE>
EXHIBIT INDEX
Exhibit
Number Description
99 Press Release of North Fork Bancorporation, Inc., dated
September 19, 1995.
<PAGE>
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 thereunto duly authorized.
Date: September 22, 1995
NORTH FORK BANCORPORATION, INC.
By:/s/Daniel M. Healy
Daniel M. Healy
Executive Vice President and
Chief Financial Officer
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{NORTH FORK BANK LOGO}
PRESS RELEASE
FOR IMMEDIATE RELEASE Contact: Daniel M. Healy
Executive Vice President &
Chief Financial Officer
NORTH FORK BANCORPORATION AGREES TO
ACQUIRE EXTEBANK DOMESTIC BANKING BUSINESS
Mattituck, N.Y.- September 19, 1995 - North Fork Bancorporation,
Inc. (NYSE:NFB) announced today that it will purchase the
domestic commercial banking business of Extebank, a wholly-owned
subsidiary of Banco Exterior de Espana, S.A., Spain. North Fork
Bank will purchase the stock of Extebank for $47 million in cash
which represents approximately 157% of book value. Banco
Exterior will retain the international business of Extebank
which will be conducted from Banco Exterior's branch
headquarters in New York City.
Extebank operates from six branch locations in Suffolk County,
one in Nassau County and one in Manhattan. "This is a unique
opportunity to do a highly efficient, in-market acquisition of a
commercial bank and is consistent with our acquisition strategy,
now and in the future," stated John Adam Kanas, President,
Chairman and Chief Executive Officer.
Press Release: September 19, 1995
<PAGE>
Summary financial data of Domestic Extebank at June 30, 1995 is
as follows:
(in millions)
Total Assets $442
Loans, net of unearned discount 252
Investment Securities 56
Deposits 396
"Extebank's domestic business enjoys a net interest margin in
excess of 6%," stated Daniel M. Healy, Executive Vice President
and Chief Financial Officer. "Combined with our ability to
eliminate redundant expenses, we believe this transaction to be
immediately accretive to earnings," he added. North Fork's
current core efficiency ratio is approximately 42%.
The transaction is expected to be completed in the first
quarter of 1996, following the receipt of regulatory approvals.
In 1995, North Fork completed the purchase of the Bank of Great
Neck and opened two de novo branches in Nassau County.
North Fork plans an analyst conference call to elaborate on the
Extebank acquisition and other business matters. An
announcement will be made when the date is established.
North Fork Bancorporation, Inc. with total assets of $2.9
billion, deposits of $2.4 billion and stockholders' equity of
$285.9 million, or book value per share of $11.59, is the parent
company of North Fork Bank, the largest independent commercial
bank headquartered on Long Island. The Bank operates 49
branches in Suffolk, Nassau, Queens, Westchester and Rockland
Counties.
