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): February 20, 1997
First West Chester Corporation
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(Exact name of registrant as specified in its charter)
Pennsylvania
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(State or other jurisdiction of incorporation)
0-12870 23-2288763
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(Commission File No.) (IRS Employer Identification No.)
9 North High Street, West Chester, Pennsylvania 19380
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(610) 692-3000
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Registrant's Telephone Number
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ITEM 5.
On February 20, 1997, the Board of Directors of the First West Chester
Corporation (the "Company") authorized a "4 for 3" stock split in the form of a
331/3% stock dividend payable April 21, 1997 to shareholders of record March 21,
1997.
In addition, the Board of Directors of the First West Corporation declared a
regular first quarter dividend of $0.25 per share. The cash dividend is payable
April 1, 1997 to shareholders of record March 1, 1997.
Attached as Exhibit 99.1, is a press release relating to this event.
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ITEM 7. EXHIBITS
99.1 Press Release dated February 20, 1997
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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.
Dated: February 24, 1997 FIRST WEST CHESTER CORPORATION
By: /s/ Charles E. Swope
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Charles E. Swope,
Chairman of the Board and President
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EXHIBIT 99.1
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[LETTERHEAD OF FIRST WEST CHESTER CORPORATION]
Press Release
THE FIRST NATIONAL BANK
OF WEST CHESTER
A wholly-owned subsidiary of the First West Chester Corporation
DECLARES
331/3% STOCK DIVIDEND
AND DECLARES FIRST QUARTER
CASH DIVIDEND
WEST CHESTER, February 20, 1997--The Board of Directors of First West
Chester Corporation and its wholly-owned subsidiary, The First National Bank of
West Chester, authorized a "4 for 3" stock split in the form of a 33 1/3% STOCK
DIVIDEND payable April 21, 1997 to shareholders of record March 21.
In addition, the Board of Directors of First West Chester Corporation
declared a regular first quarter cash dividend of $0.25 per share, a 9% increase
compared to the cash dividend declared in the same period last year. The cash
dividend is payable April 1, 1997 to shareholders of record March 1. This is the
532nd consecutive quarterly cash dividend paid by the Organization. The
quarterly cash dividend of $0.25 per share is based on shares of record March 1
before the stock dividend payable on April 21.
Charles E. Swope, Chairman of the Board and President, said,"The First
National Bank of West Chester is having another banner year. The stock dividend
is the result of our continuing growth and profitability. We have earned the
reputation as a Premier Community Bank in Pennsylvania by providing quality
financial services, innovative products, and implementing an effective expansion
program."
For more information, you may contact John C. Stoddart, Shareholder
Relations Officer, at (610) 344-2686.
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