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 20, 1999
KEYSTONE FINANCIAL, INC.
(Exact name of registrant as specified in its charter)
Pennsylvania 0-11460 23-2289209
(State or other jurisdiction (Commission File Number) (IRS Employer ID No.)
of incorporation)
One Keystone Plaza, P.O. Box 3660, Harrisburg, Pennsylvania 17105-3660
(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 May 20, 1999.
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 20, 1999 Donald F. Holt
_____________________________
Executive Vice President &
Chief Financial Officer
<PAGE>
EXHIBIT INDEX
Exhibit No. Description
- ---------- ---------------
99.1 Press Release of Keystone Financial, Inc. dated
May 20, 1999.
<PAGE>
For Further Information, Contact:
Donald F. Holt
Executive Vice President &
Chief Financial Officer
(717) 231-5704
Keystone Shareholders Support Board
Harrisburg, PA, May 20, 1999--- Shareholders of Keystone Financial, Inc.
(NASDAQ: KSTN), the fourth largest financial institution headquartered in
Pennsylvania, rejected two shareholder proposals opposed by the Board of
Directors at its annual meeting today. These proposals recommended that
the board consider the sale or merger of the corporation and changes to
Keystone's Restated Articles of Incorporation and Bylaws.
"We are pleased with the continued support of our shareholders", commented Carl
L. Campbell, Chairman and Chief Executive Officer. "We remain optimistic about
the future of Keystone. The corporate restructuring efforts are progressing
well, and we appreciate the receptivity of our customers to the many
enhancements brought about by the restructuring".
Shareholders also ratified Ernst & Young LLP as the corporation's auditors for
1999 and reelected the following directors for terms expiring in 2002: A. Joseph
Antanavage, Donald Devorris, Richard G. King, Uzal H. Martz Jr., Max A.
Messenger, Don A. Rosini, and F. Dale Schoeneman.
In a separate action, the Board of Directors declared a regular cash dividend of
29 cents per share, payable on July 20, 1999 to shareholders of record as of
July 9, 1999.
Keystone Financial, Inc. is the holding company for Keystone Financial Bank, NA,
which has 175 branches throughout Pennsylvania, Maryland and West Virginia.
Keystone also operates Martindale Andres & Co., an investment management
services provider; Keystone Financial Mortgage Co.; MMC&P, a retirement benefit
services firm; Keystone Brokerage, Inc., offering full service investment
planning and discount brokerage; and a 24-hours a day, seven days a week
Telephone Banking Center.
For more information, visit the company's web site on the Internet at
www.keyfin.com.
