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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
Date of Report (Date of earliest event reported) January 29, 1998
FIRST CENTRAL FINANCIAL CORPORATION
(Exact Name of Registrant as Specified in Charter)
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<S> <C> <C>
NEW YORK 1-9138 11-2648222
(State or Other Jurisdiction of (Commission File Number) (I.R.S. Employer Identification Number)
Incorporation)
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266 MERRICK ROAD
LYNBROOK, NEW YORK 11563
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (516) 593-7070
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ITEM 3. BANKRUPTCY OR RECEIVERSHIP.
An Order of Rehabilitation was entered by the Special Term Part II of the
Supreme Court of the State of New York, County of Nassau, on January 27, 1998,
in the Matter of The Application of Neil D. Levin, as Superintendent of
Insurance of the State of New York, for an order to take possession of the
property of and rehabilitate First Central Financial Company. Neil D. Levin and
his successors in office as Superintendent of Insurance of the State of New York
were appointed rehabilitator of First Central Insurance Company, the primary
subsidiary of the Company, under the provisions of the Insurance Law of the
State of New York, effective as of January 27, 1998.
ITEM 5. OTHER EVENTS.
Pursuant to Paragraph F of the General Instructions to Form 8-K, the
Company hereby incorporates by reference herein the press release issued by the
Company on January 29, 1998, which is attached hereto as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) EXHIBITS
Exhibit Description
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99 Press release, dated January 29, 1998
SIGNATURES
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.
FIRST CENTRAL FINANCIAL CORPORATION
February 10, 1998 By: /s/ Andrew W. Attivissimo
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Andrew W. Attivissimo
President
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EXHIBIT 99
PRESS RELEASE
FIRST CENTRAL FINANCIAL CORPORATION
FOR RELEASE: January 29, 1998
CONTACT: Andrew W. Attivissimo, President
First Central Financial Corporation
266 Merrick Road
Lynbrook, NY 11563
(516) 593-7070
Lynbrook, New York, January 29, 1998 - First Central Financial Corporation
announced today that an order of rehabilitation under the provisions of the
Insurance Law of the State of New York has been entered with respect to its
primary subsidiary, First Central Insurance Company. First Central Financial
Corporation is considering a filing under the United States Bankruptcy Code.
Except for historical information, this news release contains forward-looking
statements which involve unknown risks and uncertainties that may cause First
Central's actual results or outcomes to be materially different from those
anticipated and discussed herein.
