|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report
(Date of earliest event reported) - April 1, 1996
HIGH POINT FINANCIAL CORP.
(Exact Name of Registrant as Specified in Charter)
NEW JERSEY
(State or Other Jurisdiction of Incorporation)
0-12430 22-2426221
(Commission File Number) (IRS Employer Identification No.)
P.O. Box 460, Branchville, NJ 07826
(Address of Principal Executive Offices)
(201) 948-3300
(Registrant's Telephone Number)
Item 5 - Other Events
On April 1, 1996, the National Bank of Sussex County ("NBSC"), High Point
Financial Corp.'s banking subsidiary, received a letter from its primary
regulator, the Office of the Comptroller of the Currency (the "OCC"), dated
March 27, 1996, advising that NBSC's stipulation and consent agreement
("the Consent Order") with the OCC has been terminated. NBSC entered into
the Consent Order with the OCC on November 12, 1991. The Consent Order
required NBSC to increase the level of its capital, submit a capital plan,
enhance its lending policies and procedures, make certain revisions to its
methodology for analyzing the adequacy of the allowance for possible loan
losses, and enhance its asset/liability management policies and procedures.
NBSC increased its capital in 1994.
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.
HIGH POINT FINANCIAL CORP.
/S/Gregory W. A. Meehan
April 10, 1996 BY:___________________________
Gregory W. A. Meehan
Vice President and Treasurer
|
|