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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 (DATE OF EARLIEST EVENT REPORTED)
OCTOBER 23, 2000 (OCTOBER 18, 2000)
AREA BANCSHARES CORPORATION
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(Exact name of registrant as specified in its charter)
Kentucky 0-26032 61-0902343
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(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
230 Frederica Street, Owensboro, Kentucky 42301
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(Address of principal executive office) (Zip code)
Registrant's telephone number, including area code: (270) 926-3232
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Not Applicable
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(Former name or former address, if changed since last report)
The Current Report consists of 10 pages.
The exhibit index is located on page 4.
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Item 5. Other Events
On October 18, 2000 Area Bancshares Corporation ("Area") issued a press release
announcing its results for the three and nine-month periods ended September 30,
2000. In the press release Area also announced that it was restating its net
income for the three-month period ended March 31, 2000. The restatement is being
done to correct the accounting for a portion of the deferred taxes associated
with the acquisition that was completed on January 31, 2000. The restatement
resulted in an increase in income tax expense of $1.28 million and a
corresponding reduction in goodwill recorded in accounting for the acquisition.
The effects of the restatement have been included in the results reported for
the nine-months ended September 30, 2000. For the three-month period ended March
31, 2000, the originally reported net income of $12.88 million or $0.78 per
diluted share has been restated to $11.60 million or $0.70 per diluted share.
For the six-month period ended June 30, 2000, the originally reported
year-to-date net income of $24.59 million or $1.48 per diluted share has been
restated to $23.31 million or $1.41 per diluted share.
Area intends to file amendments to its quarterly reports on Form 10-Q for the
periods ended March 31, 2000 and June 30, 2000 to reflect the restated results
for the first quarter and second quarter year-to-date periods.
A copy of the press release is attached hereto as Exhibit 99-1, and is
incorporated herein by reference.
Item 7. Financial Statements and Exhibits
C. Exhibits
<TABLE>
<CAPTION>
Exhibit No. Description
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<S> <C>
99-1 Press release dated October 18, 2000
</TABLE>
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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.
Area Bancshares Corporation
DATE: October 23, 2000 By: /s/ Edward J. Vega
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Edward J. Vega
Senior Vice President &
Chief Financial Officer
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INDEX TO EXHIBITS
<TABLE>
<CAPTION>
Exhibit Number Exhibit Description Page
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<S> <C> <C>
99-1 Press release dated October 18, 2000 5
</TABLE>
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