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As filed with the Securities and Exchange Commission on April 27, 1999
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 8 - K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 27, 1999
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FIRST CHARTER CORPORATION
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(Exact name of registrant as specified in its charter)
North Carolina 0-15829 56-1355866
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
22 Union Street, North, Concord, North Carolina 28026-0228
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(Addresses, including zip codes, of principal executive offices)
(704) 786-3300
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(Registrant's telephone number, including area code)
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ITEM 5 OTHER EVENTS.
On April 27, 1999 First Charter Corporation announced a stock
repurchase plan and second quarter dividend. First Charter Corporation intends
to purchase in the open market or through privately negotiated transactions up
to 1,000,000 shares of its common stock. In addition at its April 21, 1999
meeting, First Charter Corporation's Board of Directors declared a $0.17 per
share dividend for the second quarter. A copy of the press release announcing
the stock repurchase plan and second quarter dividend is included as Exhibit
99.1 to this Current Report on Form 8-K.
ITEM 7 FINANCIAL STATEMENTS AND EXHIBITS
(c) The following exhibits are filed herewith:
Exhibit No. Description
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99.1 News release disseminated on April 27, 1999 by First Charter
Corporation
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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.
FIRST CHARTER CORPORATION
By: /s/ Lawrence M. Kimbrough
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Lawrence M. Kimbrough
President and Chief Executive Officer
Dated: April 27, 1999
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EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit No. Description Sequential Page
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<S> <C> <C>
99.1 News Release disseminated on April 27, 1999 by First
Charter Corporation.
</TABLE>
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For Additional Information,
Contact Robert O. Bratton
(704) 721-4473 or
David E. Keul
(704) 721-4482
FOR IMMEDIATE RELEASE
FIRST CHARTER CORPORATION ANNOUNCES
STOCK REPURCHASE PLAN AND
SECOND QUARTER DIVIDEND
Concord, North Carolina, April 27, 1999 -- First Charter Corporation (NASDAQ:
FCTR) reported today that the Corporation's Board of Directors has authorized a
stock repurchase plan to acquire up to 1 million shares, or approximately 5.4%,
of the Corporation's common stock. The shares will be purchased from time to
time at the Corporation's discretion based on market conditions. Repurchased
shares will be retired. The purchases of shares will be effected in the open
market or through privately negotiated transactions and will be made in
compliance with all applicable regulatory guidelines. The repurchase program may
be discontinued at any time.
"Our Board believes that First Charter Corporation stock is an attractive
investment with potential for continued long-term growth," commented Lawrence
M. Kimbrough, President and Chief Executive Officer. "This repurchase program
is consistent with our determination to build maximum value for our
shareholders."
Second Quarter Dividend -- In addition, at its April 21, 1999 meeting, the
Corporation's Board of Directors declared a $0.17 per share dividend for the
second quarter. The dividend will be payable on July 15, 1999 to shareholders
of record as of June 18, 1999.
First Charter is a regional financial services company with assets of $1.9
billion. The bank operates 33 branch offices and 65 ATMs located in six
counties throughout the greater Charlotte metropolitan region of North
Carolina. In December 1998, ground was broken for the First Charter Center, a
$35 million customer support and technology facility in the University Research
Park, which the bank will occupy in the summer of 2000. First Charter provides
businesses and individuals with a broad range of financial services, including
banking, comprehensive financial planning, funds management, investments,
insurance, mortgages and administration of a full array of employee benefit
programs.
Common stock for First Charter Corporation is traded under the symbol "FCTR" on
the NASDAQ National Market.
