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
April 26, 2000
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(Date of earliest event reported)
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Progress Financial Corporation
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(Exact name of registrant as specified in its charter)
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Delaware 0-14815 25-2413363
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(State of other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identified No.)
4 Sentry Parkway, Suite 230, Blue Bell, Pennsylvania 19422-0764
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(Address of principal executive offices) (Zip Code)
(610)-825-8800
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(Registrant's telephone number, including area code)
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Not Applicable
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(Former name,former address and former fiscal year,if changed since last report)
Exhibit Index appears on page 4
<PAGE>
Item 5. Other Events
On April 26, 2000, Progress Financial Corporation declared quarterly
cash dividend of $.05 per share to shareholders of record on April 30, 2000,
which was paid on May 12, 2000. For further information, see the press release
attached as Exhibit 99(a) and incorporated herein by reference.
<PAGE>
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 thereunto duly authorized.
PROGRESS FINANCIAL CORPORATION
Dated: June 20, 2000 By: /s/ Michael B. High
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Michael B. High
Executive Vice President and
Chief Financial Officer
<PAGE>
EXHIBIT INDEX
Exhibit Number Description
99(a) Press Release on dividend declaration issued on
April 26, 2000
<PAGE>
Exhibit 99(a)
Press Release on dividend declaration
issued on April 26, 2000
<PAGE>
Exhibit 99(a)
NEWS RELEASE
Contact: Michael B. High--(610) 941-4804
Executive Vice President and CFO
Progress Financial Corporation
4 Sentry Parkway - Suite 200
Blue Bell, PA 19422
For immediate release:
Progress Financial Corporation Declares Cash Dividend
Blue Bell, PA, April 26, 2000 - The Board of Directors of Progress
Financial Corporation (the "Company" - Nasdaq: PFNC) has declared its regular
quarterly cash dividend on its common stock, according to W. Kirk Wycoff,
Chairman, President and Chief Executive Officer. The cash dividend of $.05 per
share will be paid on May 12, 2000 to shareholders of record on April 30, 2000.
Progress Financial Corporation is a unitary thrift holding company
headquartered in Blue Bell, Pennsylvania. The business of the Company consists
primarily of the operation of Progress Bank, which serves businesses and
consumers through fifteen full service offices. The Company also offers a
diversified array of financial services including equipment leasing through
Progress Leasing Company, with offices in Blue Bell, Pennsylvania and Timonium,
Maryland, and financial planning services and investments through Progress
Financial Resources, Inc., headquartered in Philadelphia, Pennsylvania; and
asset based lending through the Progress Business Credit. In addition, the
Company also conducts commercial mortgage banking and brokerage services through
Progress Realty Advisors, Inc. with locations in Blue Bell, Pennsylvania;
Richmond and Chesapeake, Virginia; Woodbridge, New Jersey; and Raleigh, North
Carolina. The Company also conducts business-to-business telemarketing through
Procall Teleservices, Inc.; construction and development of assisted living
communities through Progress Development Corporation; venture capital activities
managed by Progress Capital Management, Inc.; and financial and operational
management consulting services for commercial clients through KMR Management,
Inc. located in Willow Grove, Pennsylvania. The Company's common stock is traded
on the Nasdaq Stock Market, National Market under the Symbol "PFNC".
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