UNITED STATES
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) January 21, 1997
Commission File Number 0-16839
PEOPLES FIRST CORPORATION
(Exact name of registrant as specified in its charter)
Kentucky 61-1023747
(State or other jurisdiction of (I R S Employer
incorporation or organization) Identification No.)
100 South Fourth Street
Paducah, Kentucky 42002-2200
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (502) 441-1200
Item 5. Other Event - Information of importance to security holders:
Press Release Date: January 21, 1997
The Board of Directors of Peoples First Corporation (Nasdaq/NMS: PFKY) today
declared a 5% stock dividend on Peoples First common shares. The stock dividend
is payable on March 20, 1997 to shareholders of record at the close of business
on February 21, 1997. The stock dividend is in addition to the Company's
regular quarterly cash dividend of $0.20 per share, which is payable on February
14, 1997 to shareholders of record at the close of business on January 31, 1997.
Aubrey W. Lippert, Chairman of the Board, stated "Management believes that
Peoples First's strong capital position is vital to continued profitability and
that it is imperative to promote depositor and investor confidence. Through the
implementation of our capital policies, the Company has achieved a strong
regulatory capital position." The current indicated annual cash dividend rate is
approximately 46% of financial analyst's 1996 net income per common share
estimate. This payout ratio is consistent with other publicly traded banks.
The currently announced stock dividend is the third declared by Peoples First.
Mr. Lippert indicated "The Board believes that stock dividends provide potential
shareholder value through their influence on stock prices, and the liquidity of
PFKY is enhanced with periodic issuance of new shares." In 1996, the Company
began repurchasing its common stock in the open market to be used in conjunction
with the stock dividend program.
Peoples First Corporation is a multi-bank holding companies which conducts a
complete range of commercial and personal banking activities through 25 western
Kentucky banking offices and 3 Tennessee banking offices in Clarksville. The
Company's common stock trades on the Nasdaq Stock Market under the symbol
"PFKY". If you would like additional information regarding Peoples First
Corporation, please contact Aubrey W. Lippert, President and Chairman of the
Board or Allan B. Kleet, Principal Accounting Officer at 502/441.1200.
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SIGNATURE
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, thereunto duly authorized, on January 21, 1997.
PEOPLES FIRST CORPORATION
By: /s/ Allan B. Kleet
Allan B. Kleet
Principal Accounting Officer
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