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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) June 25, 1998
HUBCO, INC.
(Exact name of registrant as specified in its charter)
New Jersey
(State or other jurisdiction of incorporation)
1-10699 22-2405746
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(Commission File Number) (IRS Employer Identification No.)
1000 MacArthur Boulevard
Mahwah, New Jersey 07430
(Address of principal executive offices)
(201) 236-2600
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(Registrant's telephone number, including area code)
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Item 5. Other Events
On June 25, 1998, HUBCO, INC. ("HUBCO") issued a press release announcing that
it had completed its purchase of 13 New Jersey and 8 Connecticut branches of
First Union National Bank. The New Jersey First Union branches were added to
HUBCO's New Jersey bank subsidiary, Hudson United Bank which now has $1.755
billion in assets and 72 branches. The Connecticut First Union branches were
added to HUBCO's Connecticut bank subsidiary, Lafayette American Bank, now a
$1.57 billion asset bank with 36 branches in Fairfield, New Haven, Middlesex and
Hartford counties. The press release is attached as an Exhibit to this Form 8-K.
The addition of these offices expands HUBCO's presence in the northern and
southern counties of New Jersey and Fairfield, New Haven, Middlesex and Hartford
counties in Connecticut.
HUBCO's purchase of 2 New York branches from First Union National Bank is
scheduled to close at the end of July.
Item 7. Exhibits
99 Press Release dated June 25, 1998
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: July 1, 1998 By: D. LYNN VAN BORKULO-NUZZO
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D. Lynn Van Borkulo-Nuzzo,
Executive Vice President
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INDEX TO EXHIBIT
Exhibit No. Description
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99 Press Release dated June 25, 1998
AT HUBCO, INC.
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Kenneth T. Neilson, Chairman Joseph F. Hurley
President & CEO (201)236-2631 EVP & CFO (201) 236-6141
FOR IMMEDIATE RELEASE
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June 25, 1998
HUBCO, INC. COMPLETES PURCHASE OF FIRST UNION BRANCHES
MAHWAH, NEW JERSEY, June 25, 1998 -- HUBCO, Inc. (NASDAQ:HUBC) today completed
the purchase of 13 New Jersey and 8 Connecticut branches of First Union National
Bank.
The New Jersey First Union branches were added to HUBCO's New Jersey bank
subsidiary, Hudson United Bank which now has $1.755 billion in assets and 72
branches. The addition of these 13 offices expands the Bank's presence in the
northern counties of Bergen, Essex, Hudson, Passaic, and Morris and also marks
the Bank's expansion into the southern New Jersey counties of Ocean, Burlington,
Camden, Hunterdon and Atlantic.
The Connecticut First Union branches were added to HUBCO's Connecticut bank
subsidiary, Lafayette American Bank, now a $1.57 billion asset bank with 36
branches in Fairfield, New Haven, Middlesex and Hartford counties. The 8
branches acquired from First Union expanded the Bank's existing presence within
those counties.
HUBCO's purchase of 2 New York branches, located in Woodstock and Hyde Park from
First Union are anticipated to close on July 23, 1998.
HUBCO's banking subsidiaries offer a full array of innovative products and
services to retail and commercial customers including imaged checking accounts,
24 hour telephone banking. PC banking, loans by phone, alternative investments,
insurance products, private label credit card programs, trust services and a
wide variety of commercial loans and services including international services,
cash management services, asset based loans and SBA Loans.
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