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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): June 25, 1998
COMMUNITY INDEPENDENT BANK, INC.
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(Exact name of registrant as specified in its charter)
Pennsylvania 000-29658 23-2357593
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation or File No.) Identification Number)
organization)
201 North Main Street, Bernville, Pennsylvania 19506
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(610) 488-1200
NOT APPLICABLE
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(Former name or address, if changed, since last report)
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ITEM 5 Other Events.
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On June 25, 1998, the Board of Directors of the Corporation approved
a 2-for-1 split of the common stock. The stock split is payable on July 31,
1998 to shareholders of record as of the close of business on July 17, 1998.
There will be no change in the $5.00 per share par value of the common stock as
a result of the split. The Corporation's news release regarding the split is
attached hereto as Exhibit 99.
ITEM 7 Financial Statements, Pro-Forma Financial Information and Exhibits.
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(c) Exhibits.
- The Corporation's News Release announcing the 2-for-1
stock split.
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.
COMMUNITY INDEPENDENT BANK, INC.
By: /s/ Arlan J. Werst
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Arlan J. Werst
President and Chief Executive Officer
Date: June 25, 1998
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EXHIBIT INDEX
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Exhibit No. Page No.
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99 The Corporation's News Release 4
announcing 2-for-1 stock split
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Exhibit No. 99
COMMUNITY INDEPENDENT BANK, INC.
201 North Main Street
Bernville, PA 19506
NEWS
RELEASE
FOR IMMEDIATE RELEASE CONTACT: Linda L. Strohmenger
June 25, 1998 Secretary
(610) 488-1200
COMMUNITY TO SPLIT STOCK 2-FOR-1
BERNVILLE, PA, June 25, 1998 ...... The Board of Directors of Community
Independent Bank, Inc. today declared a 2-for-1 split of the outstanding common
stock.
The new shares will be distributed on July 31, 1998 to shareholders of
record on July 17, 1998. All shareholders who own Community common stock on the
record date will receive one additional share for each share held. After the
split, there will be approximately 696,574 shares outstanding
Commenting on the stock split, Mr. Arlan J. Werst, President and Chief
Executive Officer said, "In this exciting economic environment, we are pleased
that Community has continued to grow and that we are able to share the Company's
profitability with the shareholders. Furthermore, the stock split should bring
the per share price into a more favorable trading range and broaden the
distribution and liquidity of Community's shares in the marketplace."
Community is a one bank holding company with assets in excess of $92
million, headquartered in Bernville, Pennsylvania. Community's bank subsidiary
is Bernville Bank, N.A., a national bank also headquartered in Bernville
Pennsylvania.
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