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): December 23, 1997
Lake Ariel Bancorp, Inc.
(Exact name of registrant as specified in its charter)
Pennsylvania 2-85306 23-2244948
(State or other jurisdiction (Commission (I.R.S. employer
of incorporation) file number) Id. No.)
Post Office Box 67, Lake Ariel, Pennsylvania 18436
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (717) 698-5695
Former name or former address, if changed from last report: Not Applicable.
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Item 1. Changes in Control of Registrant.
Not Applicable.
Item 2. Acquisition or Disposition of Assets.
Not Applicable.
Item 3. Bankruptcy or Receivership.
Not Applicable.
Item 4. Changes in Registrant's Certifying Accountant.
Not Applicable.
Item 5. Other Events.
The Registrant completed its current firm underwritten
offering on December 23, 1997, by the sale to the underwriter
of 105,000 shares of the Registrant's common stock, par value
$0.21 per share (the "Common Stock") pursuant to the exercise
of the full overallotment option granted to the underwriter.
The Registrant sold in the aggregate 805,000 shares of the
Common Stock, which represented all of the shares of Common
Stock registered for this offering on Form S-2 (No.
333-40473).
The gross proceeds of the offering were $12,880,000 and the
estimated net proceeds were $__________ after deducting all
expenses and selling commissions. The Registrant intends to
use the net proceeds as set forth in its Prospectus, dated
December 15, 1997.
Item 6. Resignations of Registrant's Directors.
Not Applicable.
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Item 7. Financial Statements and Exhibits.
(a) Financial Statement of Business Acquired.
Not Applicable.
(b) Pro Forma Financial Information.
Not Applicable.
(c) Exhibits.
None.
Item 8. Change in fiscal year.
Not Applicable.
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.
LAKE ARIEL BANCORP, INC.
(Registrant)
Date: December 29, 1997
Joseph J. Earyes, CPA, Executive Vice
President and Chief Financial Officer
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