SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report: March 17, 1998
INTERCHANGE FINANCIAL SERVICES CORPORATION
(Exact name of registrant as specified in its charter)
NEW JERSEY 1-10508 22-2553159
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification No.)
PARK 80 WEST/PLAZA TWO, SADDLE BROOK, N.J. 07663
(Address of principal executive offices) (Zip Code)
(201) 703-2265
(Registrant's telephone number, including area code)
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Item 5. Other Events
On February 27, 1998, the registrant issued the following press release
increasing quarterly cash dividend and 3 for 2 stock split.
SADDLE BROOK, New Jersey, February 27, 1998 - On February 26, 1998,
Interchange Financial Services Corporation, the holding company for Interchange
State Bank, declared an increased quarterly cash dividend of 15 cents per common
share payable on April 17, 1998, to holders of record as of March 20, 1998. The
dividend will be paid on shares outstanding before the effects of the 3 for 2
stock split. This dividend represents 60 cents per share on an annualized basis.
Based upon the price of the stock as quoted on 2/26/98 of $30.00, the yield is
2.0 percent.
In addition, Interchange declared a 3 for 2 stock split, to be
distributed on April 17, 1998, to shareholders of record as of March 20, 1998.
The dividend (after considering the effects of the split) will be 10 cents per
share per quarter.
Interchange Financial Services Corporation is a one-bank holding
company whose principal subsidiary is Interchange State Bank, a full-service
commercial bank in Saddle Brook, New Jersey, with 12 offices throughout Bergen
County. Total resources as of 12/31/97 were $548.0 million.
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 hereunto duly authorized.
INTERCHANGE FINANCIAL SERVICES CORPORATION
By: S/S ANTHONY LABOZZETTA
Anthony Labozzetta, Executive Vice President and CFO
Date: February 27, 1998
