FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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 15, 1994
NATIONAL CITY BANCSHARES, INC.
(Exact name of registrant as specified in its charter)
INDIANA 0-13585 35-1632155
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
227 Main Street, P.O. Box 868, Evansville, Indiana 47705-0868
(Address of principal executive offices)
Registrant's telephone number, including area code: 812-464-9800
Former name or former address, if changed since last report: N/A
Date of Report: March 21, 1994
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Pursuant to Section 13 or Section 15(b) of the Securities and
Exchange Act of 1934, Registrant hereby makes current report
regarding the following event:
On March 15, 1994, during its regularly scheduled monthly
meeting, the Board of Directors of National City Bancshares, Inc.
authorized the Corporation's officers to repurchase up to five
percent of its common stock over the next twelve months at market
prices. Purchases of the Corporation's stock under this program
will be completed in brokered transactions or directly from the
Corporation's market makers. The repurchased stock could be used
for a future stock dividend or other corporate purposes.
The Corporation's stock has been listed in the Nasdaq
National Market System since December 1991 and is traded under
the symbol NCBE. In excess of 240,000 and 200,000 shares were
traded during 1993 and 1992, respectively. The stock price ended
1993 at $37.00 per share, or 1.6 times book value.
Management and the Board of Directors believe the
Corporation's stock is valued less than comparable bank holding
company stock in the region and are confident that this
repurchase program will increase shareholder value.
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act
of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
NATIONAL CITY BANCSHARES, IN
Date: March 18, 1994 /s/ HAROLD A. MANN
Harold A. Mann
Secretary/Treasurer
