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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 30, 1996
MELLON BANK CORPORATION
(Exact name of registrant as specified in charter)
Pennsylvania 1-7410 25-1233834
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
One Mellon Bank Center
500 Grant Street
Pittsburgh, Pennsylvania 15258
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code - (412) 234-5000
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ITEM 5. OTHER EVENTS
By press release dated September 30, 1996, Mellon Bank Corporation (the
"Corporation") announced that it has completed its acquisition for
approximately $1.7 billion of the Business Equipment Financing unit of
USL Capital Corporation, a Ford Motor Co. subsidiary.
By press release dated October 1, 1996, the Corporation announced that
it has completed its acquisition of FUL Incorporated, known in the
marketplace as First United Leasing Corporation. Terms of the
agreement were not disclosed.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit
Number Description
99.1 Mellon Bank Corporation Press Release, dated September 30, 1996.
99.2 Mellon Bank Corporation Press Release, dated October 1, 1996.
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 thereunto duly authorized.
MELLON BANK CORPORATION
Date: October 2, 1996 By: STEVEN G. ELLIOTT
Steven G. Elliott
Vice Chairman, Chief
Financial Officer & Treasurer
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EXHIBIT INDEX
Number Description Method of Filing
99.1 Press Release dated September 30, 1996 Filed herewith
99.2 Press Release dated October 1, 1996 Filed herewith
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[LOGO OF MELLON] News Release
Contact:
Corporate Affairs
Media Analysts One Mellon Bank Center
----- -------- Pittsburgh, PA 15258-0001
Stephen K. Dishart Donald J. MacLeod
(412) 234-0850 (412) 234-5601
FOR IMMEDIATE RELEASE
MELLON COMPLETES ACQUISITION OF LEASING BUSINESS FROM FORD
PITTSBURGH, Sept. 30, 1996--Mellon Bank Corporation (NYSE: MEL) today announced
that it has completed its previously announced acquisition for approximately
$1.7 billion of the Business Equipment Financing (BEF) unit of USL Capital
Corporation, a Ford Motor Co. subsidiary.
Through the addition of USL Capital's approximately $1.5 billion BEF
portfolio, Mellon's Leasing Group has acquired a leading middle market leasing
and financing provider for business and commercial equipment to more than 2,500
middle market companies. The unit is based in San Francisco with 32 offices
across the country and approximately 143 employees. It will operate under the
name Mellon US Leasing.
Mellon also expects to complete soon its recently announced acquisition
of FUL Incorporated, known in the marketplace as First United Leasing
Corporation. The two acquisitions will make Mellon's Leasing Group the sixth
largest bank-owned leasing company in the country with a total leasing portfolio
of more than $2.6 billion.
Mellon's Leasing Group currently markets a broad range of leasing and
lease-related services to corporations throughout the United States with annual
sales of more than $250 million, as well as to corporations in the Central
Atlantic region and California with annual sales between $10 million and $250
million.
With balance sheet assets of approximately $43 billion and assets
under management or administration of more than $1.1 trillion, Mellon Bank
Corporation is a major financial services company headquartered in Pittsburgh;
its primary subsidiary is Mellon Bank, N.A. Mellon provides a full range of
banking and investment products and services to individuals and small, midsize
and large businesses and institutions. Its principal mutual fund business is
The Dreyfus Corporation.
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[LOGO OF MELLON] News Release
Contact:
Corporate Affairs
Media Analysts One Mellon Bank Center
----- -------- Pittsburgh, PA 15258-0001
Stephen K. Dishart Donald J. MacLeod
(412) 234-0850 (412) 234-5601
FOR IMMEDIATE RELEASE
MELLON COMPLETES ACQUISITION
OF FIRST UNITED LEASING CORPORATION
PITTSBURGH, Oct. 1, 1996--Mellon Bank Corporation (NYSE: MEL) today announced
that it has completed its previously announced acquisition of FUL Incorporated,
known in the marketplace as First United Leasing Corporation. Terms of the
agreement were not disclosed.
First United is a Chicago-based vendor leasing company providing short-
to medium-term leases on office, medical and light industrial equipment to users
of small-ticket equipment throughout the United States. The acquisition adds
First United Leasing's approximately $150 million in assets, as well as its
premier position in the small-ticket arena, to Mellon's Leasing Group. The new
unit will operate under the name Mellon First United Leasing.
Mellon also recently announced the completion of its acquisition of the
Business Equipment Finance unit of USL Capital Corporation, which will operate
under the name Mellon US Leasing. The two acquisitions make Mellon's Leasing
Group the sixth largest bank-owned leasing company in the country with a total
leasing portfolio of more than $2.6 billion.
As a result of these acquisitions, Mellon's Leasing Group offerings now
include small, medium and large ticket leasing and lease-related services to a
broad range of customers, including small businesses, middle market and large
corporations throughout the United States.
With balance sheet assets of approximately $43 billion and assets
under management or administration of more than $1.1 trillion, Mellon Bank
Corporation is a major financial services company headquartered in Pittsburgh;
its primary subsidiary is Mellon Bank, N.A. Mellon provides a full range of
banking and investment products and services to individuals and small, midsize
and large businesses and institutions. Its principal mutual fund business is
The Dreyfus Corporation.
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