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): Febuary 7, 2000
First West Chester Corporation
_____________________________________________________________________
(Exact name of registrant as specified in its charter)
Pennsylvania
_____________________________________________________________________
(State or other jurisdiction of incorporation)
0-12870 23-2288763
__________________________ _________________________________
(Commission File No.) (IRS Employer Identification No.)
9 North High Street, West Chester, Pennsylvania 19380
(610) 344-2686
_____________________________
Registrant's Telephone Number
<PAGE>
ITEM 5.
On Febuary 7, 2000, the Board of Directors of First West Chester
Corporation authorized the repurchase of up to $2 million worth of Common Stock
through open market transactions.
Attached as Exhibit 99.1, is a press release relating to this event.
ITEM 7. EXHIBITS
99.1 Press Release dated February 7, 2000
<PAGE>
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: Febuary 7, 2000 FIRST WEST CHESTER CORPORATION
By:/s/Charles E.Swope
___________________________________
Charles E. Swope,
Chairman of the Board and President
<PAGE>
EXHIBIT 99.1
<PAGE>
ANNOUNCEMENT
FIRST WEST CHESTER CORPORATION PLANS TO REPURCHASE
$2 MILLION WORTH
OF STOCK
(February 7, 2000--WEST CHESTER) President Swope announced that the
Board of Directors authorized the repurchase of up to $2 million worth of Common
Stock through open market transactions. The shares will be purchased from time
to time depending upon market conditions.
President Swope stated, "the stock repurchase program is a prudent use
of capital in the current market environment. Our strong financial position and
growth makes the repurchase of shares an attractive investment opportunity,
which we believe will benefit the Corporation and our shareholders."
First West Chester Corporation is the holding company for The First
National Bank of West Chester, a financial institution with approximately $512
million in commercial assets and $426 million in Financial Management Services'
assets, as of December 31, 2000. The First National Bank of West Chester
operates 12 banking offices in Chester County.
First West Chester Corporation has 4,545,157 outstanding shares of
common stock, which are traded in the over-the-counter market under the symbol
of "FWCC." For more information, please contact John C. Stoddart, Shareholder
Relations Officer, at (610) 344-2686 or visit our new, improved website
www.fnbwestchester.com.
- ----------------------
