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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): March 6, 1998
THE PEOPLES BANCTRUST COMPANY, INC.
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(Exact name of Registrant as Specified in Charter)
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<S> <C> <C>
Alabama 0-13653 63-0896239
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
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310 Broad Street, Selma, Alabama 36701
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(Address of Principal Executive Offices)
(334) 875-1000
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Registrant's telephone number, including area code
Not Applicable
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(Former name or former address, if changed since last report)
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Item 2. Acquisition or Disposition of Assets.
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On March 6, 1998, The Peoples BancTrust Company, Inc. (the "Registrant")
announced that, as of such date, it had consummated the acquisition of Merchants
& Planters Bancshares, Inc. ("Bancshares"), the parent company of Merchants &
Planters Bank, an Alabama commercial bank based in Montevallo, Alabama
("Merchants Bank"). The Registrant paid $20,085,083 in cash for the outstanding
shares of common stock of Bancshares, representing consideration of $949.38 per
share. The acquisition was approved by the shareholders of Bancshares at a
special meeting of stockholders on March 5, 1998.
The operations of Merchants Bank have not been merged with those of the
Registrant's other bank subsidiary, The Peoples Bank and Trust Company, Selma,
Alabama ("Peoples Bank"). The Registrant currently expects to consummate the
merger of Merchants Bank into Peoples Bank by mid-April, 1998.
For additional information, reference is made to the Agreement and Plan of
Reorganization dated as of December 2, 1997 by and among the Registrant, Peoples
Bank, Bancshares, and Merchants Bank, attached as Exhibit 2 to the Form 8-K
previously filed by the Registrant on December 10, 1997 and incorporated herein
by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(a) Financial Statements of Business Acquired.
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It is not currently practicable to provide the financial statements
required by Item 7(a) of Form 8-K. Such financial statements will be filed by
amendment to this Form 8-K no later than May 22, 1998.
(b) Pro Forma Financial Information.
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It is not currently practicable to provide the pro forma financial
information required by Item 7(b) of Form 8-K. Such pro forma financial
information will be filed by amendment to this Form 8-K no later than May 22,
1998.
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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 hereunto duly authorized.
THE PEOPLES BANCTRUST COMPANY, INC.
DATE: March 6, 1998 By: /s/Richard P. Morthland
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Richard P. Morthland
Chairman of the Board and
Chief Executive Officer
