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): April 24, 1996
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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ITEM 1. CHANGES IN CONTROL OF REGISTRANT
Not Applicable
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
Not Applicable
ITEM 3. BANKRUPTCY OR RECEIVERSHIP
Not Applicable
ITEM 4. CHANGES IN REGISTRANTS CERTIFYING ACCOUNTANT
Not Applicable
ITEM 5. OTHER EVENTS
On April 24, 1996, the Board of Directors of Financial Trust Corp
(FITC) declared a 10% stock dividend, payable June 17, 1996 to
shareholders of record on June 3, 1996.
ITEM 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS
Not Applicable
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Not Applicable
(b) Not Applicable
(c) Exhibits - Press Release dated April 24, 1996
ITEM 8. CHANGE IN FISCAL YEAR
Not Applicable
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 May 20, 1996 Financial Trust Corp
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(Registrant)
/s/ Bradley S. Everly
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(Signature)
Bradley S. Everly
Senior Vice President, Treasurer
and Chief Financial Officer
<PAGE>
Item 7 (c) Exhibit
NEWS RELEASE
FOR IMMEDIATE RELEASE: April 24, 1996
Carlisle, PA Hanover, PA
Chambersburg, PA Middletown, PA
Elizabethtown, PA Waynesboro, PA
Gettysburg, PA Williamsport, MD
FINANCIAL TRUST CORP ANNOUNCES
RECORD QUARTERLY EARNINGS
DECLARES SECOND QUARTER DIVIDEND AND A 10% STOCK DIVIDEND
Ray L. Wolfe, Chairman of the Board and Chief Executive Officer, today
announced Financial Trust Corp's (NASDAQ-FITC) first quarter earnings were the
highest quarterly earnings in the history of the corporation. Quarterly net
income was $4,804,000, an 11.0% increase over first quarter 1995 earnings of
$4,328,000. Return on average assets grew to 1.68%, up from first quarter 1995's
1.60%. Assets at March 31, 1996 were $1.16 billion.
First quarter earnings per share rose to $.62, up 10.7% over 1995's
first quarter. Net interest margin continued above 5% and loan quality remains
excellent by peer standards.
All financial results for 1995 have been pooled and restated to include
the September 30, 1995 acquisition of Washington County National Bank,
headquartered in Williamsport, Maryland.
The Board of Directors declared a regular quarterly cash dividend of
$.25 per share, payable May 10 to shareholders of record May 4, representing an
8.7% increase over the May 1995 dividend.
Reflecting the strong capital position of the corporation and confidence
in our future performance, the Board also declared a 10% stock dividend payable
June 17 to shareholders of record June 3.
For further information contact Ray L. Wolfe, Chairman & CEO,
or Lauren L. Shutt, Secretary.
