SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): July 13, 1999
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
(610) 344-2686
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Registrant's Telephone Number
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ITEM 5.
On October 15, 1999, Charles E. Swope, Chairman of the Board and President of
First West Chester Corporation and The First National Bank of West Chester,
released information regarding 3rd quarter earnings for 1999.
Attached as Exhibit 99.1, is a press release relating to this event.
ITEM 7. EXHIBITS
99.1 Press Release dated October 15, 1999
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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: October 15, 1999 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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FIRST WEST CHESTER CORPORATION ANNOUNCES
NET INCOME FOR THE
THIRD QUARTER 1999
(October 15, 1999 - West Chester, PA) - Charles E. Swope, Chairman of
the Board, President, and CEO of The First National Bank of West Chester,
subsidiary of First West Chester Corporation, announced that net income for the
quarter ended September 30, 1999 was $1.351 million, an increase of 7.9%
compared to 1998 third quarter net income of $1.252 million, resulting in a year
to date net income of $3.831 million. Mr. Swope also announced an increase of
Financial Management Services ("FMS") revenues of 13.4% to $650 thousand
compared to $573 thousand for the third quarter of 1998. Bank assets on
September 30, 1999, were $484.3 million, an increase of $37.0 million or 8.3%
compared to $447.3 million at September 30, 1998.
On October 1, 1999 we introduced our "Net Teller" and "Bill Pay"
Internet banking products. These products give our customer's the convenience to
access their accounts and make transactions 24 hours a day from home. We are
also proud to announce that the First National Bank has been selected to operate
branch banking facilities in four local retirement communities. We expect the
branches to open in late 1999 and provide services to the residents and
employees of the retirement communities. These four new branches expand our
network of branches to 12.
First National Bank, a community bank founded in 1863, offers a full
range of financial management and banking services to individuals and businesses
in Chester Counties and Delaware Counties. President Swope stated, "As West
Chester celebrates its 200th Anniversary, we reaffirm our intention to remain
the Largest Independent Bank headquartered in Chester County."
First West Chester Corporation is traded in the over-the-counter market
under the symbol of "FWCC." For more information, please contact our Shareholder
Relations Department at (610) 344-2686 or visit our web site @
www.fnbwestchester.com.
