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) - December 12,
1997
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.)
275 Broad Hollow Road
Melville, New York 11747
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (516) 844-1004
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ITEM 5. OTHER EVENTS
North Fork Bancorporation, Inc. announced today that it has
completed the acquisition of Branford Savings Bank. The
acquisition of Branford has been treated as a tax free exchange
and reflected as a purchase for financial reporting purposes.
North Fork issued approximately 1.3 million shares of Common
Stock at an exchange ratio of 0.1957 shares of North Fork Common
Stock for each share of Branford Voting and Non-voting Common
Stock outstanding. North Fork has also made a cash payment of
approximately $3.0 million to the holder of all outstanding
Branford Warrants in accordance with the terms specified in the
Agreement and Plan of Merger.
At September 30, 1997, Branford had total assets of
approximately $180 million, deposits of $162 million, and
stockholders' equity of $18 million and operates through five
branch locations in New Haven County, Connecticut. The press
release, issued by the Registrant on December 9, 1997 and
previously filed on Form 8-K dated December 9, 1997, described
herein is attached hereto as Exhibit 99.1 and is hereby
incorporated herein by reference in its entirety.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
AND EXHIBITS
(a) Financial Statements of the Business Acquired.
Not Applicable
(b) Pro Forma Financial Information
Not Applicable
(c) Exhibits
99.1 Press Release dated December 9, 1997
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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 hereunto duly authorized.
Date: December 12, 1997
NORTH FORK BANCORPORATION, INC.
By: /s/ Daniel M. Healy
Daniel M. Healy
Executive Vice President and
Chief Financial Officer
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Exhibit 99.1
FOR IMMEDIATE RELEASE Contact: North Fork Bancorp
Daniel M. Healy
Executive Vice President &
Chief Financial Officer
(516) 298-5000
Branford Savings Bank
Gregory R. Shook
Senior Vice President &
Secretary
NORTH FORK BANCORPORATION ACQUISITION
OF BRANFORD SAVINGS BANK RECEIVES SHAREHOLDER APPROVAL
Melville, N.Y. - December 9, 1997 - North Fork Bancorporation,
Inc. (NYSE: NFB) and Branford Savings Bank (NASDAQ: BSBC)
jointly announced today that the shareholders of Branford
Savings Bank have approved the merger of Branford into North
Fork. The closing of the transaction will occur by the end of
the year. Branford, with total assets of approximately $180
million, operates through five branch locations in New Haven
County, Connecticut.
As previously announced on October 7, 1997, a definitive merger
agreement was signed with New York Bancorp. Inc. (NYSE: NYB),
the parent company of Home Federal Savings Bank, to acquire N.Y.
Bancorp in a stock-for-stock merger valued at approximately $800
million. This transaction, which is subject to shareholder and
regulatory approvals, is expected to close in the first quarter
of 1998. On a pro forma basis at September 30, 1997, assuming
the completion of both acquisitions, North Fork would have
approximately $10.1 billion in assets, $5.6 billion in loans,
$6.3 billion in deposits and capital of $800 million. Its
branch locations will exceed 100 throughout New York and
Connecticut.
North Fork Bancorporation, Inc., with total assets, at
September 30, 1997, of $6.6 billion, deposits of $4.5 billion
and stockholders' equity of $538 million, or $8.16 in book value
per share, is the holding company for North Fork Bank, operating
80 branches in the New York metropolitan area.
