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) November 29, 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
<PAGE>
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 November 29, 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)
Donald F. Holt
Date: November 29, 1999 ___________________________________
Executive Vice President &
Chief Financial Officer
<PAGE>
EXHIBIT INDEX
Exhibit No. Description
- ---------- ---------------
99.1 Press Release of Keystone Financial, Inc. dated
November 29, 1999.
<PAGE>
For further information, contact:
Donald F. Holt
Executive Vice President &
Chief Financial Officer
(717) 231-5704
KEYSTONE ANNOUNCES STRATEGIC REALIGNMENT
HARRISBURG, PA., (November 29, 1999) - Keystone Financial Inc., (NASDAQ, NMS:
KSTN), the fourth largest bank holding company headquartered in Pennsylvania,
announced that they have realigned the corporate structure to focus on two
divisions: Wealth Management and Banking.
The announcement indicates that company CEO and Chairman, Carl L. Campbell, has
also assumed the presidency of Keystone Financial. Former company President and
COO Mark Pulaski has been appointed as President of the new wealth management
division and a search has been launched to identify a President for the banking
division. Both positions will report to Campbell. The position of chief
operating officer has been eliminated.
In commenting on the realignment, Campbell noted "We strongly believe that
wealth management activities will be a high growth, major driver in the success
of Keystone in 2000 and beyond. For this reason, both Mark and I have agreed
that it is in the best interest of Keystone, that he lead this new initiative
which will be so vital to Keystone's future success."
The new Banking Division, including both the retail and commercial lines of
business, will allow Keystone to capitalize on the operational efficiencies and
standardization achieved through their year-long restructuring program while
re-energizing a regional focus which emphasizes local leadership and
involvement. "Our regional ties and local knowledge have always been one of our
most significant competitive advantages, we now have the structure in place to
fully recognize the value of the Keystone brand in our communities" said
Campbell.
