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) June 19, 1998
KEYSTONE FINANCIAL, INC.
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(Exact name of registrant as specified in its charter)
Pennsylvania 0-11460 23-2289209
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State or other jurisdiction (Commission File Number) (IRS Employer ID No.)
of incorporation)
One Keystone Plaza, P.O.Box 3660, Harrisburg, Pennsylvania 17105-3660
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(Address of principal executive offices) (ZIP CODE)
Registrant's telephone number including area code: (717) 233-1555
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Item 5. Other Events
The following document is filed as an exhibit to this Form 8-K:
I. Press Release of Keystone Financial, Inc.
dated June 19, 1998.
Signatures
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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.
Keystone Financial, Inc.
(Registrant)
Date: June 19, 1998 Donald F. Holt
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Senior Vice President &
Chief Financial Officer
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EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release of Keystone Financial, Inc. dated
June 19, 1998.
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Amy Mountain, Keystone Financial
717-231-5736
Tom Earley, Financial Trust
717-241-7760
Keystone Financial Announces Completion of Capital Region Expansion
Financial Trust acquires former Pennsylvania National Bank offices
HARRISBURG, PA. (June 19, 1998) -- Keystone Financial, Inc. today confirmed that
its Financial Trust subsidiary completed the acquisition of seven Pennsylvania
National Bank community offices that serve the greater Harrisburg area. The
consolidation previously announced in January ensures that customers, served by
the Keystone Financial subsidiaries of Financial Trust and Pennsylvania National
Bank, will continue to benefit from a focus on their unique regions.
Seven offices of Pennsylvania National Bank join Carlisle-based Financial Trust.
The consolidation demonstrates the commitment of Financial Trust to providing
customers in the Harrisburg area with a full array of financial products and
services.
At the same time, Pottsville-based Pennsylvania National Bank continues to focus
on customers in the Northeast Pennsylvania region. Expansion efforts into Berks
and Schuylkill counties are underway.
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"Keystone Financial and its member banks are committed to supercommunity
banking," says Carl L. Campbell, chairman and CEO of Keystone Financial. "We
understand the value of providing local service and decision making for our
customers. Our affiliates are independent organizations with local executives
and boards dedicated to serving customers in a way that supports our
relationship-oriented philosophy."
Financial Trust is a Carlisle-based financial services institution with assets
of approximately $1.2 billion. Acquired by Keystone Financial in 1997, Financial
Trust now serves customers in Dauphin, Cumberland, Lancaster, Franklin, Adams,
York and Perry counties through a system of 42 community offices and 74 ATM
machines.
To better serve customer needs, Financial Trust is divided into two regions:
Eastern Division and Western Division. Each region offers comprehensive products
and services with local decision making authority and expertise. Thomas Lennox,
President, Eastern Division, will oversee 13 offices, including 9 locations in
Dauphin County and 4 in Cumberland County. Robert Rahal, President, Western
Division, will be responsible for 29 offices serving customers in Cumberland,
York, Franklin, Adams and Perry counties.
In conjunction with its focus on business lending, Financial Trust will offer
SBA (Small Business Administration) loans to small business customers. And,
customers will benefit from extended Saturday hours now available at select
Financial Trust community offices.
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"We are excited at the prospect of serving our customers with an expanded
network," says James M. Deitch, President and CEO of Financial Trust. "Customers
can be confident that their financial needs will be met through the local
expertise of Financial
Trust teams."
Keystone Financial is committed to expanding the spectrum of products and
services available to customers. In anticipation of customers' needs, Keystone
acquired Martindale Andres & Co., a full-service investment company, developed
the nation's second largest MAC Check ATM network and launched Pennsylvania's
first full-service mobile banking unit. Financial Trust furthers that expansion
by transforming an existing office at Trindle Road in Hampden Twp. into a
specialized location dedicated to the specific lines of business including
business banking, mortgage and leasing.
Ray Wolfe, Financial Trust's chairman, says the forward-thinking, supercommunity
banking philosophy appealed to the bank prior to joining Keystone. He adds,
"Customers are asking for easier access and more options, particularly in the
capital region. This expansion offers customers the opportunity to bank with a
local organization that draws its strength from a seven billion dollar holding
company."
All customers will benefit from a talented, locally based management team.
Chairman Ray L. Wolfe, brings a wealth of experience from his long association
with Financial Trust. Wolfe continues to serve in his current position since
retiring from the Chairman role at Keystone Financial. James M. Deitch,
President and CEO of Financial Trust, brings a strong background in retail
mortgage lending. He also serves as Chairman and Chief Executive Officer of
Keystone National Bank, headquartered in Lancaster.
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A prominent leader in the business banking area, Thomas Lennox serves as
President of Financial Trust's Eastern Division. Robert Rahal brings over 15
years of experience in commercial, mortgage and consumer lending to his role as
President of Financial Trust's Western Division.
Harrisburg-based Keystone Financial, Inc. is the third largest financial
services holding company in Pennsylvania with assets totalling more than $6.8
billion. Keystone Financial operates seven member banks; Financial Trust,
Carlisle; Pennsylvania National Bank, Pottsville; Keystone National Bank,
Lancaster; Keystone Bank, N.A. Horsham; Mid-State Bank, Altoona; Northern
Central Bank, Williamsport; and American Trust Bank, Cumberland, MD. The company
also operates Keystone Financial Mortgage, Lancaster, PA; Keystone Financial
Leasing, Exton, PA; a Telephone Banking Center in Cumberland, MD; Martindale
Andres & Co., West Conshohocken, PA; and MMC&P, a retirement benefits services
firm in Pittsburgh, PA. Keystone Financial's website is located on the Internet
at www.keyfin.com.
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