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) May 21, 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 documents are filed as exhibits to this Form 8-K:
I. Press Release of Keystone Financial, Inc.
dated May 21, 1998 announcing Senior Management changes.
II. Press Release of Keystone Financial, Inc.
dated May 21, 1998 announcing dividend and election of
new directors.
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 hereunto duly authorized.
Keystone Financial, Inc.
(Registrant)
Date: May 26, 1998 Donald F. Holt
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Senior Vice President &
Corporate Controller
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EXHIBIT INDEX
Exhibit No. Description
__________ _______________
99.1 Press Release of Keystone Financial, Inc. dated
May 21, 1998 announcing Senior Management Changes.
99.2 Press Release of Keystone Financial, Inc. dated
May 21, 1998 announcing Dividend and Election of
New Directors.
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Contact: May 21, 1998
Donald F. Holt
Sr. Vice President
Chief Financial Officer
(717)231-5704
KEYSTONE FINANCIAL ANNOUNCES SENIOR MANAGEMENT CHANGES;
CARL L. CAMPBELL NAMED CHAIRMAN & CEO, MARK L. PULASKI
NAMED PRESIDENT & COO
HARRISBURG, PA, May 21--Keystone Financial, Inc., (NASDAQ, NMS:KSTN), the
third largest bank holding company headquartered in Pennsylvania, announced
several changes in senior management at its annual meeting today.
Carl L. Campbell, currently president and chief executive officer, has been
named chairman and chief executive officer of Keystone, replacing Ray L. Wolfe,
who is retiring as chairman but will remain a director and continue to serve as
chairman of Financial Trust Company, a Keystone subsidiary. Campbell served as
president and chief executive officer of Keystone for over ten years and prior
to that was chairman and chief executive officer of Pennsylvania National Bank.
He recently completed 25 years of service with the company.
Mark L. Pulaski has been promoted to president and chief operating officer.
He previously served as vice chairman, chief operating officer and chief
financial officer. Pulaski has been with Keystone or one of its affiliate banks
for over 15 years.
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Ben G. Rooke has been promoted to vice chairman, general counsel and
secretary. He previously served as executive vice president, general counsel and
secretary. Rooke has been with Keystone or one of its affiliate banks for over
16 years.
Donald F. Holt has been named chief financial officer and senior vice
president. Holt previously served as corporate controller.
A. James Durica has been named treasurer and senior vice president. He
previously served as director of investments and asset liability committee
support.
James M. Deitch has been named president and chief executive officer of
Financial Trust Company. He previously served as vice chairman and chief
operating officer of Financial Trust Company and will remain chairman and chief
executive officer of Keystone National Bank, Lancaster.
Keystone Financial, Inc., with assets of approximately $6.9 billion, has
seven member banks - American Trust Bank, N.A., Cumberland, MD; Financial Trust
Company, Carlisle, PA; Keystone Bank, N.A., Horsham, PA; Keystone National Bank,
Lancaster, PA; Mid-State Bank, Altoona, PA; Northern Central Bank, Williamsport,
PA; and Pennsylvania National Bank, Pottsville, PA - which together operate
nearly 200 offices in Pennsylvania, Maryland and West Virginia. Keystone also
operates Martindale Andres & Co., an investment management services provider,
Keystone Financial Mortgage Company, MMC&P, a retirement benefit services firm,
Keystone Financial Leasing Corporation, and Key Call Phone Banking Center. For
more information, visit the company's web site on the Internet at www.keyfin.com
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Contact: May 21, 1998
Donald F. Holt
Sr. Vice President
Chief Financial Officer
(717)231-5704
KEYSTONE FINANCIAL DECLARES QUARTERLY CASH DIVIDEND:
ELECTS TWO NEW DIRECTORS
HARRISBURG, PA, May 21--Keystone Financial, Inc., (NASDAQ, NMS:KSTN), the
third largest bank holding company headquartered in Pennsylvania, today declared
a regular cash dividend of 28 cents per share, payable July 20, 1998 to
shareholders of record July 9, 1998.
The board of directors met following the annual meeting of shareholders,
at which Molly Dickinson Shepard and James I. Scheiner were elected to the board
of directors for two and three year terms, respectively.
Ms. Shepard, is chairman and co-founder of Manchester, Inc., a management
consulting and outplacement company located in Bala Cynwyd, and currently serves
as a member of the Keystone Bank, N.A., board of directors.
Mr. Scheiner, is president of Benatec Associates, Inc., an engineering and
consulting firm based in Harrisburg. He previously served as a member of the
Pennsylvania National Bank board, but now serves as a board member of Financial
Trust Company as a result of the planned consolidation of the Harrisburg area
offices of Pennsylvania National Bank into Financial Trust Company.
-more-
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In addition to the two new directors, shareholders reelected five directors
for terms expiring in 2001. The directors are Carl L. Campbell, Paul I.
Detwiler, Jr., Allan W. Holman, Jr., Ronald C. Unterberger and G. William Ward.
Shareholders also ratified the appointment of Ernst & Young, LLP, as independent
auditors for 1998.
Keystone Financial, Inc., with assets of approximately $6.9 billion, has
seven member banks - American Trust Bank, N.A., Cumberland, MD; Financial Trust
Company, Carlisle, PA; Keystone Bank, N.A., Horsham, PA; Keystone National Bank,
Lancaster, PA; Mid-State Bank, Altoona, PA; Northern Central Bank, Williamsport,
PA; and Pennsylvania National Bank, Pottsville, PA - which together operate
nearly 200 offices in Pennsylvania, Maryland and West Virginia. Keystone also
operates Martindale Andres & Co., an investment management services provider,
Keystone Financial Mortgage Company, MMC&P, a retirement benefit services firm,
Keystone Financial Leasing Corporation, and Key Call Phone Banking Center. For
more information, visit the company's web site on the Internet at www.keyfin.com
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