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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 Exchange Act of 1934
Date of Report (Date of earliest event reported) August 14, 1996
HUBCO, INC.
(Exact name of registrant as specified in its charter)
New Jersey
(State or other jurisdiction of incorporation)
1-10699 22-2405746
(Commission File Number) (IRS Employer Identification No.)
1000 MacArthur Boulevard, Mahwah, New Jersey 07430
(Address of principal executive offices)
(201) 236-2630
(Registrant's telephone number, including area code)
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Item 5. Other Events
HUBCO, Inc. (the "Company") acquired Lafayette American Bank and Trust Company
("Lafayette") effective July 1, 1996. Under the acquisition agreement with
Lafayette, the Company is required to report the consolidated results of
operations for the 30 day period following the acquisition to terminate the
prohibition on sales or transfers by affiliates. This 8-K is designed solely to
present the combined financial results for the Company and its subsidiaries,
including Lafayette, for the month ended July 31, 1996. These results are not
necessarily indicative of the results which the Company may report for the
quarter ending September 30, 1996.
In the Registration Statement on Form S-4 filed for the acquisition of
Lafayette, a press release and related Form 8-K, the Company disclosed that it
expected to take one-time charges for merger related expenses and restructuring
charges which it estimated would total approximately $8.5 million, after tax.
The one month results include a substantial portion but not all of such one-time
expenses and charges. Lafayette at June 30, 1996 had incurred approximately $1.5
million, after tax, of such one-time expenses and charges. The Company expects
that additional one-time expenses and charges will be included in the results
for the quarter ending September 30, 1996. The previously announced aggregate of
$8.5 million, net after tax, was only an estimate and actual results may differ.
The sole purpose of these financial statements is to report the combined results
of operations for the one month period. They should not be relied upon for any
other purpose.
For the One Month
Period Ended
July 31, 1996
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(in thousands)
Pre-Tax Income Before Merger Related
Expenses and Restructuring Charges $ 4,172
Net Income After Tax and Before Merger Related
Expenses and Restructuring Charges $ 2,816
Merger Related Expenses and
Restructuring Charges Net of Tax Effect (6,569)
Net Loss After Merger Related -------
Expenses and Restructuring Charges $(3,753)
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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 thereunto duly authorized.
HUBCO, INC.
Dated: August 14, 1996 By: /S/ D. LYNN VAN BORKULO-NUZZO
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D. Lynn Van Borkulo-Nuzzo,
Executive Vice President
