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): April 1, 1996
_______________________
Comm Bancorp, Inc.
________________________________________________________________________
(Exact name of registrant as specified in its charter)
Pennsylvania 0-17455 23-2242292
_________________________________ ________________ ________________
(State or other jurisdiction of (Commission (I.R.S. employer
incorporation) file number) Identification No.)
521 Main Street, Forest City, Pennsylvania 18421
__________________________________________ _____________
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (717)785-3181
______________
Former name or former address, if changed from last report:
Not Applicable.
Page 1 of 4
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.
An amendment to the Amended Articles of Incorporation became effective
April 1, 1996, in order to increase the aggregate number of shares
that Comm Bancorp, Inc. has the authority to issue to twelve million
(12,000,000) shares of common stock with a par value of thirty-three
cents ($0.33) per share, and thereby effectuating a three-for-one
(3 for 1) stock split.
Item 6. Resignations of Registrant's Directors.
Not Applicable.
Item 7. Financial Statements and Exhibits.
(a) Financial Statement of Business Acquired.
Not Applicable.
(b) Pro Forma Financial Information.
Not Applicable.
(c) Exhibits.
Form of Press Release that Comm Bancorp, Inc. has effectuated a
three-for-one (3 for 1) stock split as of April 1, 1996.
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.
COMM BANCORP, INC.
__________________
(Registrant)
Date: April 3, 1996 /s/ Scott A. Seasock
______________________
Scott A. Seasock
Chief Financial Officer
FOR IMMEDIATE RELEASE
David L. Baker, President and Chief Executive Officer and the Board of Directors
of Comm Bancorp, Inc. and its subsidiary, Community Bank & Trust Company with
corporate offices located at Main Street, Forest City, Pennsylvania, are pleased
to announce that at a meeting held March 27, 1996, a three-for-one (3 for 1)
stock split was unanimously approved. The amendment to the Articles of
Incorporation and the three-for-one split became effective on April 1, 1996.
The stock split is the third split since 1990. The Company recorded a
five-for-one (5 for 1) split in December 1990 and a four-for-one (4 for 1) split
in February 1994.
In addition, the Directors are pleased to announce that first quarter earnings
exceeded one million dollars. These results reflect the highest quarterly
earnings in the bank's history. The Board of Directors has also approved
management to make application to the NASDAQ Stock Market, a national market
system.
Community Bank and Trust Company, one of the few surviving locally owned
community banks, has grown from total assets of $802 thousand in 1934 to
approximately $340 million at March 31, 1996. The Bank operates ten community
offices with locations in Carbondale, Clifford, Eaton Twp., Forest City, Lake
Winola, Lakewood, Montrose, Nicholson, Simpson and Tunkhannock.
