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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) or
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 17, 1996
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FINANCIAL TRUST CORP
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(Exact name of registrant as specified in its charter)
Pennsylvania 0-10756 23-2229155
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1415 Ritner Highway, P.O. Box 220, Carlisle, Pennsylvania 17013
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (717) 243-8003
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N E W S R E L E A S E
FOR IMMEDIATE RELEASE: January 17, 1996
Carlisle, PA Hanover, PA
Chambersburg, PA Middletown, PA
Elizabethtown, PA Waynesboro, PA
Gettysburg, PA Williamsport, MD
FINANCIAL TRUST CORP ANNOUNCES
RECORD FOURTH QUARTER AND FULL YEAR EARNINGS
DECLARES FIRST QUARTER DIVIDEND
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Ray L. Wolfe, Chairman of the Board and Chief Executive Officer, today
announced Financial Trust Corp (NASDAQ-FITC) achieved record earnings for both
the fourth quarter and full year 1995. All financial results for 1994 and 1995
have been pooled and restated to include the September 30, 1995 acquisition of
Washington County National Bank, headquartered in Williamsport, Maryland.
Quarterly net income was $4,578,000, a 14.4% increase over fourth quarter 1994
earnings of $4,002,000. Net income for 1995 was $18,135,000, a 10.4% improvement
over the $16,429,000 earned in 1994. Return on average assets for fourth quarter
1995 and twelve months 1995 were at 1.63% and 1.64% respectively, compared to
1.46% and 1.53% in 1994. Assets at December 31, 1995 were $1.14 billion.
Fourth quarter earnings per share stoop at $.59, up from $.52 for last
year's fourth quarter, bringing 1995 to $2.34, a 10.4% increase over the $2.12
earned for 1994.
The Board of Directors declared a regular quarterly cash dividend of $.25
per share, payable February 10 to shareholders of record February 1,
representing an 8.7% increase over the February 1995 dividend.
For further information contact Ray L. Wolfe, Chairman and CEO, or Lauren
L. Shutt, Secretary.
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ITEM 5. Other Events
On January 17, 1996, Financial Trust Corp (FITC) released its earnings for both
the fourth quarter of 1995 and full year 1995. Financial results for 1995 and
1994 were pooled and restated to include the acquisition of Washington County
National Bank (WCNB) that was completed on September 30, 1995. A copy of the
press release announcing results of operations for 1994 and 1995 is filed
herewith as Exhibit I.
ITEM 7. Financial Statements and Exhibits
Press release dated January 17, 1996 Exhibit I
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.
Date January 25, 1996 Financial Trust Corp
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(Registrant)
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(Signature)
Bradley S. Everly
Senior Vice President, Treasurer and
Chief Financial Officer
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