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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 Act of 1934
Date of Report (Date of earliest event reported): December 2, 1994
Corestates Financial Corp
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(Exact name of registrant specified in its Charter)
Pennsylvania 0-6879 23-1899716
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(State or other (Commission (IRS Employee
jurisdiction of File Number) identification No.)
incorporation)
Centre Square West, 1500 Market Street
Philadelphia, Pennsylvania 19101
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(Address of principal executive offices) (Zip Code)
Registrant's telephone, including area code: (215) 973-3806
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(Former name and former address, if changed since last report)
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Item 5. Other Events.
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The information set forth in the news release of CoreStates Financial Corp
dated December 2, 1994 announcing completion of the acquisition of Germantown
Savings Bank by CoreStates Financial Corp as Exhibit 99 is incorporated by
reference and made a part hereof.
Item 7. Exhibits
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(99) CoreStates Financial Corp News Release dated December 2, 1994.
SIGNATURE
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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.
CORESTATES FINANCIAL CORP
(Registrant)
By /s/ David T. Walker
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David T. Walker
Deputy Chief Counsel
Dated: December 12, 1994
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Exhibit Index
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Exhibit No. Page
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99 CoreStates Financial
Corp News Release
Dated December 2,
1994 4
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CoreStates Financial Corp EXHIBIT 99
Broad and Chestnut Streets
PO Box 7558
Philadelphia PA 19101-7558
[LOGO OF CORESTATES APPEARS HERE]
Contact Gregg Feistman or Gary Brooten
(215) 973-3546
For Release Immediately Upon Receipt
CoreStates Completes Acquisition of
Germantown Savings Bank
Philadelphia, Pa., December 2, 1994 -- CoreStates Financial Corp today
completed its previously-announced acquisition of Germantown Savings Bank (GSB)
of Philadelphia. GSB's 32 branch offices will become part of CoreStates Bank,
N.A., further strengthening the bank's dominant market share in the five-county
Philadelphia area. Branch office and systems consolidation are scheduled to take
place late in the first quarter of 1995.
Under terms of the agreement each of GSB's 4.19 million shares will be
exchanged for cash, CoreStates shares or a combination of cash and shares valued
at $62.00 per share of GSB stock.
With the GSB acquisition, CoreStates is a $29.0 billion assets banking
services company with branch banking operations in southeastern, northeastern
and south central Pennsylvania and New Jersey.
CoreStates' banking subsidiaries conduct commercial and correspondent
banking, trust and consumer banking services through 401 domestic and five
foreign branches. Other subsidiaries engage in commercial finance and factoring,
discount brokerage, electronic transaction processing, investment banking and
merchant banking.
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