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) March 27, 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 March 27, 1998.
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: March 31, 1998 /s/ Donald F. Holt
____________________________
Senior Vice President &
Corporate Controller
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EXHIBIT INDEX
Exhibit No. Description
__________ _______________
99.1 Press Release of Keystone Financial, Inc. dated
March 27, 1998.
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Donald F. Holt March 27, 1998
Sr. Vice President
Corporate Controller
(717) 231-5704
KEYSTONE FINANCIAL ANNOUNCES NEW SHARE BUYBACK PLAN;
DECLARES QUARTERLY CASH DIVIDEND
HARRISBURG, PA, March 27 -- Keystone Financial, Inc., (NASDAQ, NMS: KSTN),
the fourth largest bank holding company headquartered in Pennsylvania, today
announced a newly approved plan for repurchasing up to 500,000 shares of common
stock. Shares repurchased under the plan are to be held as treasury stock for
various corporate programs, including the funding of existing employee benefit
plans. This latest share repurchase plan follows a recently completed 500,000
share buyback announced in January 1998.
In a separate action, the board of directors declared a regular cash
dividend of 28 cents per share, payable April 20, 1998, to shareholders of
record on April 9, 1998.
Keystone Financial, Inc., with assets of approximately $6.8 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-Sate 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., West Conshohocken, PA, a company providing
investment management services, Keystone Financial Mortgage Co., Lancaster, PA,
MMC&P, a retirement benefit services firm, Pittsburgh, PA, Keystone Financial
Leasing Corporation, Exton, PA and Key Call Phone Banking Center, Cumberland,
MD.
For more information, visit the company's web site on the Internet at
www.keyfin.com.
