As filed with the Securities and Exchange Commission on May 10, 1999
Registration No. 333-_________
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM S-8
REGISTRATION STATEMENT
Under
THE SECURITIES ACT OF 1933
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REPUBLIC SECURITY FINANCIAL CORPORATION
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(Exact name of registrant as specified in its charter)
FLORIDA 59-2335075
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(State or Other Jurisdiction (I.R.S. Employer Identification No.)
of Incorporation or Organization)
Organization)
450 SOUTH AUSTRALIAN AVENUE
WEST PALM BEACH, FLORIDA 33401
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(Address of principal executive offices) (Zip Code)
REPUBLIC SECURITY FINANCIAL CORPORATION AMENDED AND RESTATED
1997 PERFORMANCE INCENTIVE PLAN
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(Full title of the plan)
RUDY E. SCHUPP
450 SOUTH AUSTRALIAN AVENUE
WEST PALM BEACH, FLORIDA 33401
(Name and address of agent for service)
(561) 650-2500
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(Telephone number, including area code, of agent for service)
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COPIES TO:
Kara L. MacCullough, Esq.
Morgan, Lewis & Bockius LLP
5300 First Union Financial Center
200 South Biscayne Boulevard
Miami, Florida 33131-2339
(305) 579-0446
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CALCULATION OF REGISTRATION FEE
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Title of securities Amount to be Proposed maximum Proposed maximum Amount of
to be registered Registered (1) offering price aggregate registration fee (3)
per share (2) offering price (2)
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<S> <C> <C> <C> <C>
Common Stock, par 8.938 $26,814,000 $7,454,29
value $0.01 per share 3,000,000
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<FN>
(1) This registration statement covers shares of Common Stock of Republic
Security Financial Corporation which may be offered or sold pursuant to
the Amended and Restated 1997 Performance Incentive Plan (the "Plan").
This registration statement also relates to an indeterminate number of
shares of Common Stock that may be issued upon stock splits, stock
dividends or similar transactions in accordance with Rule 416. The
contents of an earlier registration statement, Registration No.
333-33213 covering 2,000,000 shares of Common Stock under the Plan, is
incorporated by reference in this Registration Statement
(2) Calculated solely for the purpose of this offering under Rule 457(c) of
the Securities Act of 1933 on the basis of the high and low selling
prices per share of Common Stock of Republic Security Financial
Corporation on May 5, 1999 as reported by the Nasdaq National Market.
(3) Calculated pursuant to Section 6(b) as follows: proposed maximum
aggregate offering price multiplied by .000278.
</FN>
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PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 8. Exhibits.
The following is a list of exhibits filed as part of this Registration
Statement:
Exhibit Exhibit
Number
5 Opinion of Morgan, Lewis & Bockius LLP.
23.1 Consent of Morgan, Lewis & Bockius LLP (included within Exhibit 5.1)
23.2 Consent of Ernst & Young LLP
23.3 Consent of Deloitte & Touche LLP
23.4 Consent of KPMG Peat Marwick LLP
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended,
the Registrant has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of West Palm Beach, State of Florida on May 10, 1999.
REPUBLIC SECURITY FINANCIAL CORPORATION
By: /s/Rudy E. Schupp
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Rudy E. Schupp
Chairman of the Board and
Chief Executive Officer
Pursuant to the requirements of the Securities Act of 1933, as amended,
this Registration Statement has been signed below by the following persons in
the capacities and on the date indicated.
BY: /S/ Rudy E. Schupp May 10, 1999
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Rudy E. Schupp
Chairman of the Board
Chief Executive Officer
BY: /S/ Richard J. Haskins May 10, 1999
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Richard J. Haskins
Executive Vice President
Chief Financial and Accounting
Officer
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<S> <C> <C> <C>
/s/ Johnny R. Adcock May 10, 1999
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Johnny R. Adcock, Director
/s/ Paula Berliner May 10, 1999 /s/ Mary A. McCarty May 10, 1999
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Paula Berliner, Director Mary A. McCarty, Director
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<S> <C> <C> <C>
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/s/ Thomas F. Carney
May 10, 1999 /s/ Carol R. Owen May 10, 1999
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Thomas F. Carney, Director Carol R. Owen, Director
/s/ Joseph D. Cesarotti, Sr. May 10, 1999 /s/ Richard C. Rathke May 10, 1999
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Joseph D. Cesarotti, Sr., Director Richard C. Rathke, Director
/s/ Mary Anna Fowler May 10, 1999 /s/Daniel D. Sokoloff May 10, 1999
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Mary Anna Fowler, Director Daniel D. Sokoloff, M.D., Director
/s/ H. Gearl Gore May 10, 1999 /s/ William F. Spitznagel May 10, 1999
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H. Gearl Gore, Director William F. Spitznagel, Director
/s/Fred A. Greene May 10, 1999 /s/ Bruce E. Wiita May 10, 1999
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Fred A. Greene, Director Bruce E. Wiita, Director
/s/ R. Randy Guemple May 10, 1999 /s/ William Wolfson May 10, 1999
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R. Randy Guemple, Director William Wolfson, Director
/s/ Eugene W. Hughes, Jr. May 10, 1999
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Eugene W. Hughes, Jr., Director
/s/ Thomas J. Langan, Jr. May 10, 1999
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Thomas J. Langan, Jr, Director
/s/ Lennart Lindahl May 10, 1999
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Lennart Lindahl, Director
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INDEX TO EXHIBITS
Exhibit Exhibit
Number
5 Opinion of Morgan, Lewis & Bockius LLP.
23.2 Consent of Ernst & Young LLP
23.3 Consent of Deloitte & Touche LLP
23.4 Consent of KPMG Peat Marwick LLP
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Exhibit 5
May 10, 1999
Republic Security Financial Corporation
450 South Australian Avenue
West Palm Beach, Florida 33401
Re: Republic Security Financial Corporation --
Registration Statement on Form S-8
Ladies and Gentlemen:
As your counsel, we have assisted in the preparation of the above-referenced
Registration Statement on Form S-8 (the "Registration Statement") for filing
with the Securities and Exchange Commission pursuant to the Securities Act of
1933, as amended (the "Act"), and the rules and regulations promulgated
thereunder.
The Registration Statement relates to 3,000,000 shares of Common Stock, par
value $0.01 per share (the "Common Stock"), of Republic Security Financial
Corporation (the "Company"), which may be issued pursuant to the 1997
Performance Incentive Plan (the "Plan").
As counsel for the Company, we have examined the Company's Articles of
Incorporation, as amended, Bylaws, as amended, minutes and such other documents,
and have made such inquiries of the Company's officers, as we have deemed
appropriate. In our examination, we have assumed the genuineness of all
signatures, the authenticity of all items submitted to us as originals, and the
conformity with originals of all items submitted to us as copies.
Based upon the foregoing, it is our opinion that the Company's Common Stock,
upon issuance in accordance with the terms of the Plan, will be validly issued,
fully paid and non-assessable.
We hereby consent to the use of this opinion as Exhibit 5 to the Registration
Statement.
Very truly yours,
/s/Morgan, Lewis & Bockius LLP
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Exhibit 23.2
CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
We consent to the incorporation by reference in this Registration Statement for
the registration of 3,000,000 shares of Republic Security Financial Corporation
common stock of our report dated March 15, 1999, with respect to the
consolidated financial statements of Republic Security Financial Corporation and
Subsidiaries included in its Annual Report on Form 10-K for the year ended
December 31, 1998, filed with the Securities and Exchange Commission.
/s/ Ernst & Young LLP
West Palm Beach, Florida
May 6, 1999
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Exhibit 23.3
CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by reference in this Registration
Statement of Republic Security Financial Corporation on Form S-8 of our report
dated February 21, 1997 (relating to the consolidated statements of income,
stockholders' equity and cash flows of County Financial Corporation for the year
ended December 31, 1996, not presented separately in the Form 10-K) appearing in
the annual report on Form 10-K of Republic Security Financial Corporation for
the year ended December 31, 1998.
/s/ Deloitte & Touche LLP
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West Palm Beach, Florida
May 10, 1999
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Exhibit 24.4
CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by reference in this Registration
Statement (No. not yet determined ) on Form S-8 of Republic Security Financial
Corporation of our report dated October 29, 1997 (relating to the consolidated
balance sheet as of September 30, 1997 and the related consolidated statements
of income, stockholders' equity and cash flows of Unifirst Federal Savings Bank
and subsidiaries for the years ended September 30, 1997 and 1996) appearing in
the annual report on Form 10-K of Republic Security Financial Corporation for
the year ended December 31, 1998.
/s/ KPMG Peat Marwick LLP
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Fort Lauderdale, Florida
May 4, 1999
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