FORM 8-K
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 (date of earliest event reported): April 1, 1997
EAGLE FINANCIAL CORP.
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(Exact name of registrnt as specified in its charter)
Delaware 0-15311 06-1194047
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(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification Number)
222 Main Street, P.O. Box 1157, Bristol, Connecticut 06010
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (860) 314-6400
NOT APPLICABLE
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
On April 1, 1997, Eagle Financial Corp. announced the completion of a $50
million private placement of 10% capital securities due March 15, 2027. The
securities were issued by Eagle Financial Corp's recently formed subsidiary,
Eagle Financial Capital Trust I.
The April 1, 1997 press release is attached as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
99 Press release date April 1, 1997
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SIGNATURES
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 thereunto duly authorized.
EAGLE FINANCIAL CORP.
By: /s/ Mark J. Blum
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Mark J. Blum
Vice President
Chief Financial Officer and Secretary
Date: April 8, 1997
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99 Press Release dated April 1, 1997
N E W S R E L E A S E
[LOGO] EAGLE FINANCIAL CORP.
Contact: Robert J. Britton
President & Chief Executive Officer
860-314-6411
Mark J. Blum
Chief Financial Officer
860-314-6410
EAGLE FINANCIAL ANNOUNCES ISSUANCE OF CAPITAL SECURITIES
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Bristol, CT/April 1, 1997 -- Eagle Financial Corp. (NASDAQ:EGFC), the holding
company for Eagle Federal Savings Bank, announced today the completion of a $50
million private placement of 10.00% capital securities due March 15, 2027. The
securities were issued by Eagle Financial Corp's recently formed subsidiary,
Eagle Financial Capital Trust I, and underwritten by Sandler O'Neill & Partners,
L.P. The securities were sold in an offering under Rule 144A of the Securities
Act of 1933.
Proceeds from the issue were invested by the Eagle Financial Capital Trust I in
Junior Subordinated Debentures issued by Eagle Financial Corp. The Capital
Securities are fully and unconditionally guaranteed by Eagle Financial Corp. Net
proceeds from the sale of debentures will be used for general corporate
purposes, including capital contributions to Eagle Federal Savings Bank to fund
its expanding operations and, if necessary, the financing of future
acquisitions.
Robert J. Britton, President and Chief Executive Officer of Eagle Financial,
commented "The new issue provides increased funds for the Company at a
relatively low cost. We believe that the issuance of these securities will allow
the Company to continue growing both internally and through future
acquisitions."
In January 1997, Eagle Financial announced the signing of a definitive agreement
under which Eagle Financial would acquire MidConn Bank, a $363 million financial
institution headquartered in Kensington, Connecticut that operates ten branch
offices in the central Connecticut market just south of Hartford. Under the
terms of the agreement, Eagle Financial would acquire MidConn Bank in a tax-free
stock-for-stock transaction, after which MidConn Bank would be merged into Eagle
Federal Savings Bank. The merger will increase Eagle's deposit base in Hartford
county by almost 40%, further solidifying an already strong position in the
greater Hartford market. It is anticipated that the MidConn transaction will
close in the second calendar quarter of 1997, subject to shareholder and
regulatory approvals.
Eagle Financial Corp. currently has $1.5 billion in total assets and operates 19
traditional and 4 supermarket branch offices in Hartford and eastern Litchfield
counties through its Bank subsidiary.
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Eagle Federal Savings Bank is a subsidiary of Eagle Financial Corp.
222 Main Street, P.O. Box 1157, Bristol, CT 06010 / 203 589-4600 / 203 489-5410
Fax
