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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) - May 20, 1999
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HUDSON UNITED BANCORP
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(Exact Name of Registrant as Specified in Charter)
NEW JERSEY
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(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
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(Address of Principal Executive Offices)
(201) 236-2600
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(Registrant's Telephone Number)
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Item 5. Acquisition or Disposition of Assets.
On May 20, 1999, Hudson United Bancorp completed its previously
announced acquisition of Little Falls Bancorp, Inc. and Little Falls' wholly
owned banking subsidiary, Little Falls Bank. Little Falls was merged with and
into Hudson United and Little Falls Bank with and into Hudson United Bank,
Hudson United's banking subsidiary, pursuant to the Agreement and Plan of Merger
dated as of January 26, 1999. In the merger, 51% of the Little Falls' common
stock was converted into Hudson United common stock using a 0.6408 per share
exchange ratio and 49% of the Little Falls' common stock was exchanged for
$20.64 in cash per share. As of March 31, 1999, Little Falls had total assets of
approximately $351 million, total deposits of approximately $244 million and
stockholders' equity of approximately $37 million.
Item 7. Exhibits
Exhibit 99 - Press Release dated May 20, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registration has duly caused this report to be signed on its behalf by the
undersigned thereto duly authorized.
HUDSON UNITED BANCORP
D. LYNN VAN BORKULO-NUZZO
Dated: May 24, 1999 By: ______________________________
D. Lynn Van Borkulo-Nuzzo
Executive Vice President and
Corporate Secretary
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Index to Exhibits
Exhibit 99 - Press Release dated May 20, 1999.
AT THE COMPANY
Kenneth T. Neilson, Chairman, Chris Witkowski, Senior Vice
President & CEO President, Assistant to the President
(201) 236-2631 (201) 236-6144
FOR IMMEDIATE RELEASE
HUDSON UNITED BANCORP COMPLETES THE LITTLE FALLS BANK MERGER
Mahwah, N.J -- May 20, 1999--Hudson United Bancorp (NYSE; HU) today closed its
acquisition of Little Falls Bancorp, and completed its merger of Little Falls
Bank into its subsidiary, Hudson United Bank. Little Falls Bank is a $341
million asset institution with six offices in Hunterdon and Passaic counties.
Hudson United Bancorp is a $7 billion bank holding company operating in New
Jersey, New York, and Connecticut.
For Hudson United Bancorp this acquisition represents its twenty-seventh
acquisition in the past eight years and enhances Hudson United Bank's strong
presence in the state of New Jersey. With a branch network of over 160 banking
locations throughout New Jersey, Connecticut, and New York, Hudson United Bank
maintains a commitment to community banking, providing the breadth of products
and services of larger banking entities while setting a high standard for
delivering a superior customer experience.
Hudson United Bancorp's banking subsidiary offers a full array of innovative
products and services to retail and commercial customers that include imaged
checking accounts, 24 hour telephone banking, loans by phone, alternative
investments, insurance products, trust services and a wide variety of commercial
loans and services including international services, cash management services,
asset based loans S.B.A. loans and much more.
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