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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 28, 1997
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 of (Commission (I.R.S. Employer
incorporation or organization) File No.) Identification Number)
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 28, 1997, 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
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EXHIBITS.
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(c) Exhibits.
99 - Press Release, dated January 29,
1997, 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 4, 1997
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EXHIBIT INDEX
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Exhibit No. Page No.
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99 Press Release, dated January 29, 1997, 6
announcing authorization of stock
repurchases
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[LETTERHEAD OF HERITAGE BANCORP, INC. APPEARS HERE]
RELEASE DATE: FOR ADDITIONAL INFORMATION
IMMEDIATE RELEASE CONTACT:
Allen E. Kiefer
President and CEO
(717) 622-2320
HERITAGE BANCORP, INC. AUTHORIZES
SHARE REPURCHASE
Pottsville, Pennsylvania, January 28, 1997...Heritage Bancorp, Inc's Board of
Directors authorized the repurchase of up to $2,500,000 in aggregate purchase
price of the Corporation's 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 the Corporation's Employee Stock Ownership
Plan, Dividend Reinvestment and Stock Purchase Plan, Stock Option Plans and
other appropriate uses. Currently Heritage has 2,400,261 shares outstanding.
Heritage Bancorp, Inc., with December 31, 1996 assets of $342 million, is
headquartered in Pottsville, Pennsylvania, and is the parent company of Heritage
National Bank.
