FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
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 15, 1999
ANCHOR FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
South Carolina 0-13759 57-0778015
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification number)
2002 Oak St., Myrtle Beach, S. C. 29577
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (843) 448-1411
<PAGE>
ITEM 5. OTHER EVENTS
On December 15, 1999, Anchor Financial Corporation announced that its Board of
Directors had authorized the purchase of up to 160,000 of its outstanding shares
in the open market or in privately negotiated transactions. This equals
approximately two percent (2%) of Anchor's total outstanding shares. A majority
of the shares to be purchased are being allocated to the company's stock option
plans. The news release regarding this repurchase is attached to this filing.
<PAGE>
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements - not applicable.
(b) Pro forma financial information - not applicable.
(c) Exhibits:
(99) News release issued by Anchor, dated December 15, 1999
<PAGE>
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 thereunto duly authorized.
/s/ Tommy E. Looper
Tommy E. Looper
Executive Vice President and Chief
Financial Officer
Date: December 16, 1999
[ANCHOR FINANCIAL CORPORATION NEWS
RELEASE GRAPHIC APPEARS HERE]
FOR IMMEDIATE RELEASE
CONTACT: TOMMY LOOPER
843-946-3164
BETH BRANHAM
843-946-3191
Anchor Financial Corporation Board
Authorizes Stock Repurchase
Myrtle Beach, SC, December 15, 1999 - The Board of Directors of Anchor Financial
Corporation (Nasdaq: AFSC) has authorized the purchase of up to 160,000 of the
company's outstanding shares or approximately 2% of its total outstanding
shares. The purchases will take place over the next 12 months in the open market
or in privately negotiated transactions at times deemed appropriate. A majority
of the shares to be purchased are being allocated to options under the company's
stock option plans.
Anchor Financial Corporation has assets of $1.2 billion and operates 33 banking
offices in South Carolina and North Carolina. The Corporation's web address is
www.anchorfinancialcorp.com.
