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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): MAY 20, 1997
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) 973-7488
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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
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 May 21, 1997.
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
Senior Vice President
Dated: May 22, 1997
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Exhibit Index
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Exhibit No. Page
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99 CoreStates Financial Corp News
Release dated May 21, 1997 4
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Exhibit 99
CoreStates Financial Corp [Logo of
Broad and Chestnut Streets CoreStates
PO Box 7558 appears here]
Philadelphia PA 19101-7558
Contact Gary Brooten or George Biechler
(215) 973-3546
For Release Immediately Upon Receipt
MCCULLOUGH LEAVES CORESTATES BOARD
Philadelphia, PA, May 21, 1997 -- Samuel A. McCullough, who has been
nominated by Governor Tom Ridge to head Pennsylvania's Department of Community
and Economic Development, resigned yesterday from the board of directors of
CoreStates Financial Corp (NYSE-CFL). McCullough completed his activities as
senior consultant to CoreStates during May.
McCullough had served as president of CoreStates from April 9, 1996, when
CoreStates acquired Meridian Bancorp, until June 30, 1996, when he assumed a
full time consulting role working with customers and public constituencies of
CoreStates. Before the merger he was chairman, president and chief executive
officer of Meridian.
"Sam McCullough has distinguished himself as a banking leader and strong
presence in the business, civic and community life of our region," said Terrence
A. Larsen, chairman and chief executive officer of CoreStates.
"He led the creation of a great institution in Meridian Bank, and he has
played a crucial part in making the CoreStates-Meridian merger work. Sam has
been a great contributor in all his roles at CoreStates, and I expect that he
will be a great Secretary of Community and Economic Development," said Larsen.
No replacement has been named for the board.
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