SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934
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Date of Report Commission File Number 0-11117
December 5, 1995
(date of earliest event reported)
(November 29, 1995)
SDNB FINANCIAL CORP.
(Exact Name of registrant as specified in its charter)
CALIFORNIA
(State or jurisdiction or incorporation)
95-372079
(I.R.S. Employer Identification Number)
1420 Kettner Blvd.
San Diego, California 92101
(Address of principal executive offices) (Zip Code)
(619) 233-1234
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
SDNB Financial Corp., Registrant, has announced an
agreement has been approved by the Federal District Court to settle the
lawsuit brought by Pioneer Liquidating Corporation against San Diego
National Bank, its wholly owned subsidiary. The settlement cost has
already been provided for in the Bank's and the Registrant's consolidated
financial statements as at September 30, 1995.
<PAGE>
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS
(c) Exhibits
Press release with respect to disclosure of resolution of
litigation.
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SIGNATURES
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.
Dated: December 5, 1995 SDNB FINANCIAL CORP.
By: /s/
Howard W. Brotman
Senior Vice President/
Chief Financial Officer
<PAGE>
EXHIBIT "A"
Press release with respect to disclosure of resolution of litigation
against Registrant's wholly-owned subsidiary.
<PAGE>
INDEX OF EXHIBITS
Exhibit 20 Press release with respect to disclosure of resolution of
litigation against Registrant's wholly-owned subsidiary.
[SDNB FINANCIAL CORP. Letterhead]
NEWS
Date: December 1, 1995
Subject: Lawsuit Settlement
Contact: Nikki Symington
Phone: (619)232-2030
SDNB Financial Corp. Announces Litigation Settlement
For Immediate Release:
(San Diego, CA.)****SDNB Financial Corp. announced today that
an agreement has been approved by the Federal District Court to settle the
lawsuit brought by Pioneer Liquidating Corporation against San Diego
National Bank, its wholly owned subsidiary.
Murray L. Galinson, President and C.E.O. of both companies,
stated that the settlement will result in resolution of all claims against
the bank, its officers and directors.
"We are very pleased to finally have this matter behind us.
This represents the end to a series of lawsuits involving Pioneer Mortgage
Company that dated back to 1991. Although we feel the bank did nothing
wrong, it is important that this final phase be concluded. We can not
continue to bear the cost of defending these lawsuits," said Galinson.
Galinson stated that the cost of settlement has been provided
for in the bank's and holding company's financial statements at September
30,1995.
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