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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): March 25, 1998
BT Financial Corporation
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(Exact name of registrant as specified in its charter)
Pennsylvania 0-12377 251441348
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
551 Main Street, Johnstown, Pennsylvania 15901
(Address of principal executive offices)
(814)532-3801
(Registrant's telephone number, including area code)
Page 1 of 3
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Item 5. Other Events.
BT Financial Corporation's press release dated March 25, 1998 regarding BT
Financial Corporation's 2-for-1 stock split filed herewith as Exhibit 99 is
incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
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Exhibit 99. BT Financial Corporation press release dated March 25, 1998.
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Signature
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.
BT FINANCIAL CORPORATION
Date: March 26, 1998 By: /s/ John H. Anderson
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John H. Anderson
Chairman and Chief Executive Officer
(Principal Executive Officer)
/s/ Steven C. Ackmann
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Steven C. Ackmann
President and Chief Operating Officer
/s/ Mark L. Sollenberger
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Mark L. Sollenberger
Executive Vice President and Treasurer
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EXHIBIT 99
LOGO
BT
Financial Corporation
NEWS RELEASE
Contact: John H. Anderson, Chairman and Chief Executive Officer
For Release: Immediately
BT FINANCIAL CORPORATION ANNOUNCES 2-FOR-1
STOCK SPLIT
Johnstown, PA, March 25, 1998 - The board of directors of BT Financial
Corporation (NASDAQ NNM:BTFC) today announced a 2-for-1 stock split in the form
of a common stock dividend. This distribution will be made May 1, 1998 to
shareholders of record April 8, 1998.
John H. Anderson, BTFC's Chairman and Chief Executive Officer, said the dividend
demonstrates a commitment to consistent increases in shareholder value. "this
2-for-1 split is indicative of our confidence in the continuation of the
Corporation's position as a superior community banking franchise.
Trading of BTFC common stock on a post-split basis will commence on May 4, 1998.
If shareholders are contemplating a sale from the record date to the payable
date, they should consult their broker as to their entitlement to the split
shares. There will be 12,500,872 outstanding shares after the split, based on
the number of shares outstanding as of February 28, 1998. Giving effect to the
stock split, earnings for the year ended December 31, 1997 would have been $1.37
per share.
BT Financial Corporation is a bank holding company with headquarters at BT
Financial Plaza, 551 Main Street, Johnstown, Pennsylvania, and assets totaling
$1.57 billion. The Corporation's banking affiliate is Laurel Bank headquartered
in Johnstown, Pennsylvania. Laurel Bank serves 12 counties in southwestern
Pennsylvania. BT Financial Corporation's other affiliates are Laurel Trust
Company, a state chartered trust company, Bedford Associates, Inc. a real estate
company, and Laurel Community Development Corporation.
This news release may contain forward looking statements as defined in the
Private Securities Litigation Reform Act of 1995. Actual results and trends
could differ materially from those set forth in such statements due to various
factors. Such factors include the possibility that increased demand or prices
for the Company's financial services and products may not occur, changing
economic and competitive conditions, technological developments, and other risks
and uncertainties, including those detailed in the Company's filings with the
Securities and Exchange Commission.
www.Citipage.com
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BT Financial Corporation BT Financial Plaza 551 Main Street Johnstown, PA 15901
(814) 532-3801 Fax:(814) 536-2278
Affiliates: Johnstown Bank and Trust Company Laurel Bank Fayette Bank
BT Management Trust Company Bedford Associates, Inc.
