UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-K/A
Amendment No. 1
to
Annual Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of
1934
For the fiscal year ended December 31, 1994 Commission File Number 0-13030
Trans Financial, Inc.
(Exact name of registrant as specified in its charter)
Kentucky 61-1048868
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
500 East Main Street, Bowling Green, Kentucky 42101
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (502)781-5000
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act:
Common Stock, no par value per share
(Title of Class)
Preferred Stock Purchase Rights
(Title of Class)
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of the registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. _
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes X No _
The aggregate market value of the voting stock held by nonaffiliates of the
registrant on March 1, 1995: $132,974,000.
The number of shares outstanding of the issuer's class of common stock on March
15, 1995: 11,212,977 shares.
Document Incorporated By Reference
Portions of the registrant's Proxy Statement for the Annual Meeting of
Shareholders to be held on April 24, 1995 are incorporated by reference into
Part III of this report.
The amended Exhibit Index is on page 4. This filing contains 21 pages (including
this facing sheet).
<PAGE>
The registrant's Annual Report on Form 10-K is hereby amended to include as an
exhibit the Annual Report on Form 11-K of the Trans Financial, Inc. Savings
Investment Plan, which was not available at the time of the initial filing of
the registrant's Form 10-K. Item 14 of Part IV is amended to read in its
entirety as follows:
Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K
(a) (1) Financial statements filed
The list of consolidated financial statements together with the
report thereon of KPMG Peat Marwick LLP, as set forth in Part II, Item 8
of this report is report is incorporated herein by reference.
(2) Financial statement schedules
Schedules to the consolidated financial statements are omitted, as
the required information is not applicable.
(3) List of exhibits
The list of exhibits listed on the Exhibit Index on pages 4 and 5 of
this Form 10-K/A is incorporated herein by reference.
The management contracts and compensatory plans or arrangements
required to be filed as exhibits to this Form 10-K/A pursuant to Item
14(c) are noted by asterisk (*) in the Exhibit Index.
(b) Reports on Form 8-K
(1)The registrant filed on November 14, 1994, an amended report on Form
8-K dated August 31, 1994 reporting the
merger of FGC Holding Company ("FGC") with and into the registrant, and
the issuance of 1,050,000 shares of common stock of the registrant,
pursuant to an Agreement and Plan of Reorganization and Plan of Merger
dated January 28, 1994.
The following consolidated financial statements of FGC, notes related
thereto and independent auditors' report thereon were filed as a part of
the report:
(a) Independent Auditors' Report;
(b) Consolidated Balance Sheets as of December 31, 1993 and 1992;
(c) Consolidated Statements of Income for the years ended December 31,
1993 and 1992;
(d) Consolidated Statements of Changes in Stockholders' Equity for the
years ended December 31, 1993 and 1992;
(e) Consolidated Statements of Cash Flows for the years ended December
31, 1993 and 1992; and
(f) Notes to Consolidated Financial Statements.
The following unaudited consolidated financial statements of FGC were
filed as a part of the report:
(a) Consolidated Balance Sheet as of June 30, 1994 (unaudited);
(b) Consolidated Statement of Income for the six months ended June 30,
1994 (unaudited); and
(c) Consolidated Statement of Cash Flows for the six months ended June
30,1994 (unaudited).
The following unaudited pro forma consolidated financial statements
of Trans Financial Bancorp, Inc. and notes related thereto were filed as
a part of the report:
(a) Pro Forma Balance Sheet as of June 30, 1994 (unaudited);
(b) Pro Forma Income Statement for the six months ended June 30, 1994
(unaudited);
(c) Pro Forma Income Statement for the year ended December 31, 1993
(unaudited);
(d) Pro Forma Income Statement for the year ended December 31, 1992
(unaudited);
(e) Pro Forma Income Statement for the year ended December 31, 1991
(unaudited); and
(f) Notes to Pro Forma Financial Statements (unaudited).
<PAGE>
(2)The registrant filed on December 6, 1994, a report on Form 8-K
which included financial statements of Kentucky Community Bancorp,
Inc. and supplemental consolidated financial
statements of Trans Financial Bancorp, Inc.
The following consolidated financial statements of Kentucky Community
Bancorp, Inc., notes related thereto and independent auditors' report
thereon were filed as a part of the report:
(a) Independent Auditors' Report;
(b) Consolidated Balance Sheets as of December 31, 1993 and 1992;
(c) Consolidated Statements of Income for the years ended December 31,
1993, 1992 and 1991;
(d) Consolidated Statements of Stockholders' Equity for the years ended
December 31, 1993, 1992 and 1991;
(e) Consolidated Statements of Cash Flows for the years ended December
31, 1993, 1992 and 1991; and
(f) Notes to Consolidated Financial Statements.
The following supplemental consolidated financial statements of Trans
Financial Bancorp, Inc., notes related thereto and independent auditors'
report thereon were filed as a part of the report:
(a) Independent Auditor's Report;
(b) Supplemental Consolidated Balance Sheets as of December 31, 1993
and 1992;
(c) Supplemental Consolidated Statements of Income for the years ended
December 31, 1993, 1992 and 1991;
(d) Supplemental Consolidated Statements of Changes in Shareholders'
Equity for the years ended December 31, 1993, 1992 and 1991;
(e)Supplemental Consolidated Statements of Cash Flows for the years ended
December 31, 1993, 1992 and 1991; and
(f) Notes to Supplemental Consolidated Financial Statements.
(c) Exhibits
The exhibits listed on the Exhibit Index on pages 4 and 5 of this Form 10-
K/A are filed as a part of this report.
(d) Financial statement schedules
No financial statement schedules are required to be filed as a part of
this report.
<PAGE>
SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) 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.
Trans Financial, Inc.
(Registrant)
By: /s/ Edward R. Matthews
Edward R. Matthews
Chief Financial Officer
Date: June 29, 1995
<PAGE>
Exhibits
Sequentially
Numbered Pages
4(a)
Restated Articles of Incorporation of the registrant are
incorporated by reference to Exhibit 3 of the registrant's
report on Form 10-Q for the quarter ended March 31, 1992.
4(b)
Restated Bylaws of the registrant are incorporated by
reference to Exhibit 4(b) of the registrant's report on Form
10-K for the year ended December 31, 1993.
4(c)
Rights Agreement dated January 20, 1992 between
Manufacturers Hanover Trust Company and Trans Financial
Bancorp, Inc. is incorporated by reference to Exhibit 1 to
the registrant's report on Form 8-K dated January 24, 1992.
4(d)
Form of Indenture (including Form of Subordinated Note)
dated as of September 1, 1993, between the registrant and
First Tennessee Bank National Association as Trustee,
relating to the issuance of 7.25% Subordinated Notes due
2003, is incorporated by reference to Exhibit 4 of
Registration Statement on Form S-2 of the registrant (File
No. 33-67686).
10(a)Trans Financial Bancorp, Inc. 1987 Stock Option Plan is incorporated
by reference to Exhibit 4(a) of Registration Statement on Form S-8
of the registrant (File No. 33-43046).*
10(b)Trans Financial Bancorp, Inc. 1990 Stock Option Plan is incorporated
by reference to Exhibit 10(d) of
the registrant's Report on Form 10-K for the year ended
December 31, 1990.*
10(c)Trans Financial Bancorp, Inc. 1992 Stock Option Plan is incorporated
by reference to Exhibit 28 of the registrant's Report on Form 10-Q
for the quarter ended March 31, 1992.*
10(d)Trans Financial Bancorp, Inc. 1994 Stock Option Plan is incorporated
by reference to the registrant's
Proxy Statement dated March 18, 1994, for the April 25, 1994
Annual Meeting of Shareholders.*
10(e)Employment Agreement between Douglas M. Lester and Trans Financial
Bancorp, Inc. is incorporated by reference to Exhibit 10(c) of the
registrant's Report on Form
10-K for the year ended December 31, 1990.*
10(f)Employment Agreement between Harold T. Matthews and Trans Financial
Bank, National Association is incorporated by reference to
Exhibit 10(e) of the registrant's
Report on Form 10-K for the year ended December 31, 1992.*
10(g)Description of the registrant's Performance Incentive Plan***
10(h)Form of Deferred Compensation Agreement between registrant and
certain officers of the registrant is incorporated by reference
to Exhibit 10(g) of the
registrant's Report on Form 10-K for the year ended December
31, 1992.*
10(i)Trans Financial Bancorp, Inc. Dividend Reinvestment and Stock
Purchase Plan is incorporated by reference to Registration Statement
on Form S-3 of the registrant
dated May 15, 1991 (File No. 33-40606).
<PAGE>
Sequentially
Numbered Pages
10(j)Warrant dated as of February 13, 1992 between Morgan Keegan &
Company, Inc. and Trans Financial Bancorp, Inc. incorporated
by reference to Exhibit 10(m) of
Registration Statement on Form S-2 of the registrant (File
No. 33-45483).
10(k)Share Exchange Agreement dated March 25, 1993 between Trans Financial
Bancorp, Inc. and Trans Kentucky
Bancorp is incorporated by reference to Exhibit 1 of the
registrant's Report on Form 8-K dated April 8, 1993.
10(l)Loan Agreement dated as of July 6, 1993 between First Tennessee Bank
National Association and Trans Financial Bancorp, Inc. is
incorporated by reference to
Exhibit 10(p) to the Registration Statement on Form S-2 of
the registrant (File No. 33-67686).
10(m)Underwriting Agreement dated as of September 9, 1993 among Morgan
Keegan & Company, Inc., J.C. Bradford and Company, and Trans Financial
Bancorp, Inc. incorporated by reference to Exhibit (1) to
Registration Statement on
Form S-2 of the registrant (File No. 33-67686).
10(n)Subordinated Note dated as of September 16, 1993, by Trans Financial
Bancorp, Inc. is incorporated by
reference to Exhibit 1 to Registration Statement on Form S-2
of the registrant (File No. 33-67686).
10(o)Agreement and Plan of Reorganization dated November 9, 1993, as
amended January 6, 1994, among Trans Financial Bancorp, Inc., Trans
Financial Acquisition
Corporation and Kentucky Community Bancorp, Inc. is incorporated
by reference to Exhibit 2 to the Registration
Statement on Form S-4 of the registrant (File No. 33-51575).
10(p)Agreement and Plan of Reorganization and Plan of Merger dated
December 27, 1993 between Trans Financial Bancorp, Inc. and Peoples
Financial Services, Inc. is incorporated by reference to Exhibit 2
of the registrant's Report on Form 8-K dated January 10, 1994.
<PAGE>
10(q)Agreement and Plan of Reorganization and Plan of Merger dated January
28, 1994 between Trans Financial
Bancorp, Inc. and FGC Holding Company is incorporated by
reference to Exhibit 2(a) and 2(b) of the registrant's
Report on Form 8-K dated February 18, 1994.
11 Statement of Computation of Per Share Earnings **
21 List of Subsidiaries of the Registrant **
23 Consent of Independent Auditors **
23(a)Consent of Independent Auditors 6
99 Annual Report on Form 11-K for the Trans Financial,Inc.
Savings Investment Plan 7-21
* Denotes a management contract or compensatory plan or arrangement of the
registrant required to be filed as an exhibit pursuant to Item 601 (10) (iii)
of Regulation S-K.
** Previously filed.
<PAGE>
Exhibit 23(a)
Consent of Independent Auditors
The Board of Directors
Trans Financial, Inc.:
We consent to incorporation by reference in the Registration Statement No. 33-
53960 on Form S-8 of our report dated June 16, 1995, relating to the statements
of net assets available for benefits of the Trans Financial,Inc. Savings
Investment Plan as of December 31, 1994 and 1993 and the related statements of
changes in net assets available for benefits with fund information for the years
then ended, which report appears in the December 31, 1994 Annual Report on Form
11-K of the Trans Financial,Inc. Savings Investment Plan, formeraly Trans
Financial Bancorp Savings Investment Plan.
/s/ KPMG PEAT MARWICK LLP
KPMG PEAT MARWICK LLP
Louisville, Kentucky
June 29, 1995
<PAGE>
Trans Financial, Inc.
Annual Report on Form 10-K
For the Year Ended December 31, 1994
Exhibit 99
Annual Report on Form 11-K for the Trans Financial,Inc. Savings Investment Plan
<PAGE>
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 11-K
Annual Report Pursuant to Section 15(d) of The Securities Exchange Act of 1934
For the fiscal year ended December 31, 1994 Commission File Number 0-13030
Trans Financial,Inc. Savings Investment Plan
(Exact name of plan)
Trans Financial, Inc.
(Exact name of issuer of securities)
500 East Main Street
Bowling Green, KY 42101
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
trustees (or other persons who administer the employee benefit plan) have caused
this report to be signed on its behalf by the undersigned hereunto duly
authorized.
Trans Financial,Inc. Savings Investment Plan
(Name of Plan)
By: /s/ Roger E. Lundin
Roger E. Lundin
Senior Vice President
and Plan Administrator
Date: June 29, 1995
<PAGE>
TRANS FINANCIAL,INC.
SAVINGS INVESTMENT PLAN
Financial Statements and Schedules
December 31, 1994 and 1993
With Independent Auditors' Report Thereon
<PAGE>
TRANS FINANCIAL,INC.
SAVINGS INVESTMENT PLAN
Index to Financial Statements
and Schedules
Page(s)
Independent Auditors' Report 12
Statements of Net Assets Available for Benefits
as of December 31, 1994 and 1993 13 - 14
Statements of Changes in Net Assets Available for Benefits
for the years ended December 31, 1994 and 1993 15 - 16
Notes to Financial Statements 17 - 19
Schedule(s)
Item 27a - Schedule of Assets Held for Investment Purposes -
December 31, 1994 A
Item 27d - Schedule of Reportable Transactions - Year ended
December 31, 1994 D
Other schedules as required by Items 27(b), (c), (e) and (f) of Form 5500 have
been omitted because they are not applicable.
<PAGE>
Independent Auditors' Report
The Plan Committee
Trans Financial,Inc.
Savings Investment Plan:
We have audited the accompanying statements of net assets available for benefits
of the Trans Financial,Inc. Savings Investment Plan (formerly Trans Financial
Bancorp Savings Investment Plan)(Plan) as of December 31, 1994 and 1993, and the
related statements of changes in net assets available for benefits for the years
then ended. These financial statements are the responsibility of the PlanOs
management. Our responsibility is to express an opinion on these financial
statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the Plan as of
December 31, 1994 and 1993, and the changes in net assets available for benefits
for the years then ended in conformity with generally accepted accounting
principles.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of Assets
Held for Investment Purposes and Reportable Transactions are presented for the
purpose of additional analysis and are not a required part of the basic
financial statements but are supplementary information required by the
Department of Labor's Rules and Regulations for Reporting and Disclosure under
the Employee Retirement Income Security Act of 1974. The fund information of
net assets available for benefits and the changes in net assets available for
benefits is presented for purposes of additional analysis rather than to present
the net assets available for benefits and changes in net assets available for
plan benefits of each fund. The supplemental schedules and fund information
have been subjected to the auditing procedures applied in the audits of the
basic financial statements and, in our opinion, are fairly stated in all
material respects in relation to the basic financial statements taken as a
whole.
Louisville, Kentucky
June 16, 1995
<PAGE>
TRANS FINANCIAL,INC.
SAVINGS INVESTMENT PLAN
Statement of Net Assets Available for Benefits With Fund Information
<TABLE>
<CAPTION>
December 31, 1994
Fund Information
Income Aggressive
Stock Income Growth Balanced Growth Growth Clearing Total
Assets
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Investments, at fair value:
Trans Financial Inc.
Common stock $3,762,408 - - - - - - 3,762,408
Mutual funds - 39,015 176,633 897,693 542,481 364,178 - 2,020,000
Cash equivalents 238,594 4,337 3,874 66,297 63,797 42,717 25,156 444,772
Total investments $4,001,002 43,352 180,507 963,990 606,278 406,895 25,156 6,227,180
Accrued Investment income 938 244 676 3,640 1,493 801 160 7,952
Contribution receivable
from employees 19,389 262 944 7,190 8,072 6,464 - 42,321
Contribution receivable
from employer 33,412 - - - - - - 33,412
Other assets 3,646 - - - - - - 3,646
Net assets available
for benefits $4,058,387 43,858 182,127 974,820 615,843 414,160 25,316 6,314,511
</TABLE>
<PAGE>
TRANS FINANCIAL,INC.
SAVINGS INVESTMENT PLAN
Statement of Net Assets Available for Benefits With Fund Information
<TABLE>
<CAPTION>
December 31, 1993
Fund Information
Guaranteed
Growth Investment
Stock Equity Bond Contract Total
Assets
Investments, at fair value:
<S> <C> <C> <C> <C> <C>
Trans Financial, Inc.
Common stock $4,224,331 - - - 4,224,331
Cash equivalents 22,306 838,733 331,875 428,554 1,621,468
Total investments $4,246,637 838,733 331,875 428,554 5,845,799
Interfund receivable
(payable) (4,003) - - 4,003 -
Accrued investment income 31,613 658 206 476 32,953
Contribution receivable
from employer (5,944) 5,696 2,578 1,752 4,082
Net assets available
for benefits $4,268,303 845,087 334,659 434,785 5,882,834
</TABLE>
<PAGE>
TRANS FINANCIAL,INC.
SAVINGS INVESTMENT PLAN
Statement of Changes in Net Assets Available for Benefits With Fund Information
<TABLE>
<CAPTION>
Year ended December 31, 1994
Fund Information
Guaranteed
Growth Investment Income Aggressive
Stock Equity BondContract Income Growth Balanced Growth GrowthClearing Total
Assets
Additions:
Dividends of
Trans Financial,
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Inc.
Common stock $157,770 - - - - - - - - - 157,770
Interest and
other dividends 6,631 - - - 2,096 8,896 35,349 19,915 8,445 1,997 83,329
Net realized
and unrealized
depreciation in
fair value (989,306) - - - (2,600) (10,799) (33,877) (20,330) (8,006) -(1,064,918)
Contributions from
employer 482,772 - - - - - - - - 482,772
Contributions from
employees 281,844 - - - 6,978 23,572 164,025 176,992 144,505 - 797,916
$(60,289) - - - 6,474 21,669 165,497 176,577 144,944 1,997 456,869
Deductions:
Benefits paid to
participants 517,075 18,158 14,843 26,602 2,043 24,166 11,865 121,794 7,273 223,004 966,823
Net increase (decrease) prior to
KCB and
Interfund
transfers (577,364)(18,158)(14,843)(26,602) 4,431 (2,497) 153,632 54,783 137,671(221,007)(509,954)
Transfer
from KCB 47,712 - - - 7,390 60,452 400,281 124,221 55,252 246,323 941,631
Interfund
transfers 319,736 (826,929)(319,816)(408,183)32,037 124,172 420,907 436,839 221,237 - -
Net increase
(decrease) (209,916)(845,087)(334,659)(434,785)43,858182,127 974,820 615,843 414,161 25,316 431,677
Net assets available
for benefits
at beginning
of year 4,268,303 845,087 334,659 434,785 - - - - - -5,882,834
Net assets available
for benefits at
end of year $4,058,387 - - - 43,858 182,127 974,820 615,843 414,160 25,3166,314,511
</TABLE>
<PAGE>
TRANS FINANCIAL,INC.
SAVINGS INVESTMENT PLAN
Statement of Changes in Net Assets Available for Benefits With Fund Information
<TABLE>
<CAPTION>
Year Ended December 31, 1993
Fund Information
Guaranteed
Growth Investment
Stock Equity Bond Contract Total
Assets
Additions:
<S> <C> <C> <C> <C> <C>
Dividends of Trans Financial, Inc.
Common Stock$ 118,431 - - - 118,431
Interest and
other dividends 2,148 16,568 23,783 1,856 44,355
Net realized and unrealized
appreciation in
fair value 176,429 25,540 3,200 20,301 225,470
Contributions
from employer 350,163 - - - 350,163
Contributions
from employee 293,352 124,923 64,773 39,897 522,945
940,523 167,031 91,756 62,054 1,261,364
Interfund transfers 119,199 (69,204) (28,201) (21,794) -
Deductions:
Benefits paid
to participants 103,748 74,391 6,498 33,122 217,759
Miscellaneous expenses 15,728 3,362 1,444 1,898 22,432
119,476 77,753 7,942 35,020 240,191
Net increase prior to
interfund transfers 821,047 89,278 83,814 27,034 1,021,173
Net increase 940,246 20,074 55,613 5,240 1,021,173
Net assets available
for benefits at
beginning of year 3,328,057 825,013 279,046 429,545 4,861,661
Net assets available
for benefits at
the end of year$ 4,268,303 845,087 334,659 434,785 5,882,834
</TABLE>
<PAGE>
TRANS FINANCIAL,INC.
SAVINGS INVESTMENT PLAN
Notes to the Financial Statements
Two Years Ended December 31, 1994
1.Description of the Plan
a. General
The Trans Financial,Inc. Savings Investment Plan (Plan) is a contributory
defined contribution plan which covers substantially all employees of
Trans Financial, Inc. (the Company) and its subsidiaries whose
compensation is not determined by collective bargaining. The plan was
formerly known as the Trans Financial Bancorp Savings Investment Plan.
The plan's name was changed to reflect the name change of the plan's
sponsor.
The Plan is subject to the provisions of the Employee Retirement Income
Security Act of 1974 (ERISA).
The Company has the right under the Plan to discontinue all contributions
at any time and terminate the Plan. In the event that the Plan is
terminated, the net assets of the Plan will be distributed to
participants in the amounts of the participantsO account balances valued
as of the termination date.
b. Contributions
The Plan is funded through employee contributions. Participants may elect
to contribute from 1% to 10% of their compensation up to a maximum, as
prescribed by the Internal Revenue Code, for any calendar year.
Participants may elect to invest in any of six available options in
increments of 5%. Contributions made by participants are intended to
qualify as cash or deferred arrangements under Section 401(k) of the
Internal Revenue Code.
The Company matches employee contributions up to 4% of the employeeOs
salary. Employer contributions are invested, to the extent possible, in
the Stock Fund.
c. Participant Accounts
Each participant's account is credited with employee contributions and
employer contributions and an allocation of plan earnings and
forfeitures of terminated participantsO nonvested accounts. The benefit
to which a participant is entitled is the benefit that can be provided
from the participantOs account.
d. Vesting and Benefit Payments
All participants are fully vested in employee contributions and related
earnings. Employees have a vested interest in the employer matching
contribution and related earnings in accordance with the following
schedule:
<PAGE>
Years Vested
of service percentage
Less than 2 0%
2 but less than 3 20%
3 but less than 4 40%
4 but less than 5 60%
5 but less than 6 80%
6 or more 100%
<PAGE>
TRANS FINANCIAL,INC.
SAVINGS INVESTMENT PLAN
Notes to the Financial Statements
1.Description of the Plan - Continued
Upon termination of service, a participant may elect to receive the value
of his or her account in a lump-sum distribution or periodic payments
over a period not to exceed the life expectancy of the participant or
his or her beneficiary.
The foregoing description of the Plan provides only general information.
Participants should refer to the Plan agreement for a more complete
description of the PlanOs provisions. Copies are available from the
Company.
On July 1, 1994, the Kentucky Community Bancorp, Inc. 401(k) Plan was
merged into this Plan. The amount of funds transferred to this Plan was
$941,631.
2. Summary of Significant Accounting Policies
The financial statements of the Plan are prepared on the accrual basis.
a. Investments
The PlanOs investments, held by the trustee, are stated at fair value as
reported by the Trustee, using published quotations and other data.
The Plan was amended effective January 1, 1994 to include the following
investment options: an Employer Stock Fund, an Income Fund, an Income
Growth Fund, a Balanced Fund, a Growth Fund and an Aggressive Growth
Fund. Purchases and sales of securities are recorded on a trade-date
basis.
b. Payment of Benefits
Benefits are recorded when paid.
3. Investments
The fair value of individual investments at December 31, 1994 and 1993 are
summarized as follows:
December 31
1994 1993
Trans Financial, Inc.
Common Stock $3,762,408(A) 4,224,331
Federated Short Inter. Govt. 152,384 _
Federated High Yield 174,324 _
Federated Inter. Govt. 183,119 _
Fidelity Investment Grade Bond 189,062 _
Fidelity Equity Growth 352,030(A) _
Fidelity Growth & Income 201,001 _
Fidelity Blue Chip Growth 351,353(A) _
Federated Index Trust Minicap 226,803 _
Federated GNMA 119,020 _
Fidelity Overseas 70,904 _
Cash equivalents 444,772(A) 1,621,468
6,227,180 5,845,799
(A) This investment individually represents 5% or more of net assets
at year-end.
<PAGE>
TRANS FINANCIAL,INC.
SAVINGS INVESTMENT PLAN
Notes to the Financial Statements
4.Income Tax Status
The Internal Revenue Service has determined and informed the Company by a
letter dated July 11, 1989, that the Plan and related trust are designed in
accordance with applicable sections of the Internal Revenue Code (IRC).
The Plan has been amended since receiving the determination letter.
However, the Plan administrator and the PlanOs tax counsel beleive that the
Plan is designed and is currently being operated in compliance with the
applicable requirements of the IRC.
5.Reconciliation of Financial Statements to Form 5500
The Department of Labor requires that amounts allocated to accounts of
persons who have elected to withdraw from the plan but have not yet been
paid be reported as a liability on Form 5500. Under generally accepted
accounting principles, these amounts are not accrued as a liability and are
not included in distributions paid.
The following is a reconciliation of net assets available for benefits per
the financial statements to the Form 5500:
December 31,
1994 1993
Net assets available for benefits
per the financial statements $6,314,511 5,882,834
Amounts allocated to
withdrawing participants (144,752) (167,695)
Net assets available for benefits
per the Form 5500 $ 6,169,759 5,715,139
The following is a reconciliation of benefits paid to participants per the
financial statements to the Form 5500:
Year ended
December 31, 1994
Benefits paid to participants per
the financial statements $966,823
Add: Amounts allocated to withdrawing
participants at December 31, 1994 144,752
Less: Amounts allocated to withdrawing
participants at December 31, 1994 (167,695)
Benefits paid to participants per
the Form 5500 $ 943,880
<PAGE>
6.Related Party Transactions
Plan investments include shares of the Company's stock. The Company's trust
department is the trustee as defined by the Plan and therefore, this
transaction qualifies as party-in-interest. Also, administrative services
and related expenses were provided at no charge by the Company.
<PAGE>
Item 27a - Schedule of Assets Held for Investment Purposes
Employer Identification Number: 61-0156617
Plan Year Ending: December 31, 1994
Plan Number: 001
Schedule A
TRANS FINANCIAL,INC.
SAVINGS INVESTMENT PLAN
Number of Current
shares or units Cost value
Trans Financial, Inc.
Common Stock 289,416 $ 2,834,423 3,762,408
Federated Short Inter. Govt. 15,073 153,367 152,384
Federated High Yield 20,877 176,351 174,324
Federated Inter. Govt. 18,294 192,138 183,119
Fidelity Investment Grade Bond 27,600 205,564 189,062
Fidelity Equity Growth 12,322 356,161 352,030
Fidelity Growth & Income 9,531 209,786 201,001
Fidelity Blue Chip Growth 13,540 347,681 351,353
Federated Index Trust Minicap 20,036 231,579 226,803
Federated GNMA 11,357 127,004 119,020
Fidelity Overseas 2,597 72,069 70,904
Cash equivalents 444,772 444,772 444,772
$5,350,895 6,227,180
<PAGE>
Item 27d - Schedule of Reportable Transactions
Employer Identification Number: 61-0156617
Plan Year Ending: December 31, 1994
Plan Number: 001
Schedule D
TRANS FINANCIAL,INC.
SAVINGS INVESTMENT PLAN
Description Purchase Selling Fair Net Gain
of Asset Price Price Cost of Value (Loss)
Asset
Trans $676,339 - 676,399 676,399 -
Financial,
Inc. Common
Stock
Federated 344,351 - 344,351 344,351 -
Inter. Govt. - 144,908 152,213 152,213 (7,305)
Fidelity Equity
Growth 469,583 - 469,583 469,583 -
- 113,937 113,422 113,422 515
Fidelity Blue
Chip Growth 355,176 - 355,176 355,176 -
- 7,607 7,495 7,495 112
Federated Index
Trust Minicap 309,190 - 309,190 309,190 -
- 75,226 77,611 77,611 (2,385)
Federated 234,040 - 234,040 234,040 -
Maxcap
- 231,491 234,040 234,040 (2,549)
Federated Govt
Trust Fund 2,890,267 - 2,890,267 2,890,267 -
- 2,492,957 2,492,957 2,492,957 -
