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UNITED STATES
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: June 1, 1999
(Date of earliest event reported): (June 1, 1999)
MEGABANK FINANCIAL CORPORATION
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(Exact name of registrant as specified in its charter)
Colorado 001-13819 84-0949755
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
8100 E. Arapahoe Road, Suite 214 Englewood, CO 80112
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number: (303) 740-2265
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Item 5. Other Events
Pursuant to the requirements of Section 11(a) of
the Securities Act of 1933, as amended, and Rule 158
thereunder, the Registrant is filing an earnings statement
covering a period of at least 12 consecutive months
beginning after the effective date of February 9, 1998 for
its Registration Statement (SEC File Nos. 333-42189 and 333-
42191) reflecting the issuance of 1,200,000 shares of Trust
Preferred Securities.
Item 7. Financial Statements and Exhibits
(c) Exhibits
1. Consolidated Statements of Income for the twelve
months ended March 31, 1999 (unaudited).
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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 duly authorized.
MEGABANK FINANCIAL CORPORATION
/s/ Thomas R. Kowalski
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Thomas R. Kowalski, Chairman
and Chief Executive Officer
Dated: June 1, 1999
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ITEM 7. EXHIBIT 1.
MEGABANK FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
Twelve months ended March 31, 1999 (Unaudited)
(Dollars in thousands)
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Interest income
Loans, including fees $ 20,102
Taxable investment securities 332
Nontaxable investment securities 732
Funds sold 364
Other interest 189
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Total interest income 21,719
Interest expense
Deposits 6,019
Borrowed funds 123
Trust preferred securities 1,098
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Total interest expense 7,240
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Net interest income 14,479
Provision for loan losses 590
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Net interest income after
provision for loan losses 13,889
Other income
Service charges on deposit accounts 552
Gain on sale of investment securities 21
Other income 484
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Total other income 1,057
Other expenses
Salaries and employee benefits 4,486
Occupancy expenses of premises 1,114
Furniture and equipment expense 457
Other expenses 2,349
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Total other expenses 8,406
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Income before income taxes 6,540
Income tax expense 2,210
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Net income $ 4,330
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