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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): January 30, 1996
HERITAGE BANCORP, INC.
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(Exact name of registrant as specified in its charter)
Pennsylvania 0-12506 23-2228542
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation or File No.) Identification Number)
organization)
120 South Centre Street, Pottsville, Pennsylvania 17901
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(717) 622-2320
NOT APPLICABLE
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(Former name or address, if changed, since last report)
Exhibit Index on page 5.
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ITEM 5 OTHER EVENTS.
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AUTHORIZATION OF STOCK REPURCHASES.
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On January 30, 1996, the Board of Directors of the Corporation
authorized the repurchase of up to $2,500,000 in aggregate purchase price of
the Corporation's outstanding common stock. Pursuant to the authorization,
appropriate executive officers of the Corporation may direct the repurchases
at times and in amounts determined by them to be prudent.
The Corporation expects to use available cash to fund the
repurchases and does not anticipate borrowing for this purpose. Repurchases
will be made from time to time on the open market or in privately negotiated
transactions. The shares to be purchased will be used for reissuance in
connection with the Corporation's benefit plans, including but not limited to
the Employee Stock Ownership Plan, Dividend Reinvestment and Stock Purchase
Plan, Stock Option Plans and such other benefit plans as may hereinafter be
adopted by the Corporation and for other general purposes of the Corporation.
The press release announcing the authorization of the share
repurchases is attached hereto as Exhibit 99 and incorporated herein by
reference.
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ITEM 7 FINANCIAL STATEMENTS, PRO-FORMA FINANCIAL INFORMATION AND EXHIBITS.
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(c) Exhibits.
99 - Press Release, dated February 13, 1996,
announcing authorization of stock repurchases.
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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 hereunto duly authorized.
HERITAGE BANCORP, INC.
By: /s/ Allen E. Kiefer
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Allen E. Kiefer
President and Chief Executive Officer
Date: February 13, 1996
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EXHIBIT INDEX
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Exhibit No. Page No.
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99 Press Release, dated February 13, 1996, 6
announcing authorization of stock
repurchases
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NEWS RELEASE
FROM
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[LETTERHEAD OF HERITAGE BANCORP, INC. APPEARS HERE]
Exhibit 99
RELEASE DATE: FOR ADDITIONAL INFORMATION
CONTACT:
IMMEDIATE RELEASE
February 13, 1996 Allen E. Kiefer
President and CEO
HERITAGE BANCORP, INC. AUTHORIZES SHARE REPURCHASE
Pottsville, Pennsylvania, January 30, 1996...Heritage Bancorp, Inc.'s Board of
Directors authorized the repurchase of up to $2,500,000 in aggregate purchase
price of the Corporation's outstanding stock.
Allen E. Kiefer, President and Chief Executive Officer of the Corporation,
indicated that available cash would be used to fund the share repurchases, which
will be made from time to time on the open market or in privately negotiated
transactions. The shares purchased under the authorization would be used for
general corporate purposes, including reissuance under the Corporation's
Employee Stock Ownership Plan, Dividend Reinvestment and Stock Purchase Plan,
Stock Option Plans and other appropriate uses. Currently Heritage has 1,946,575
shares outstanding.
Heritage Bancorp, Inc., with assets in excess of $300 million, is headquartered
in Pottsville, Pennsylvania, and is the parent company of Heritage National
Bank.
