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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): February 8, 2000
First Coastal Corporation
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(Exact name of registrant as specified in its charter)
Delaware 0-14087 06-1177661
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(State or other jurisdiction (Commission File No.) (IRS Employer
incorporation) Identification No.)
36 Thomas Drive, Westbrook, Maine 04092
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (207) 774-5000
Not applicable
(Former name or former address, if changed since last report)
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ITEM 5. Other Events.
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In June 1999, First Coastal Corporation (the "Company") commenced a stock
repurchase program, with the intent to purchase up to 68,000 shares of its
common stock, representing approximately 5% of the 1,360,527 shares then
outstanding. As of February 1, 2000, the Company had repurchased 52, 619
shares, or 3.9% of its common stock.
On February 8, 2000, the Company announced that its Board of Directors
has authorized an extension of the stock repurchase program and the repurchase
of up to an additional 68,000 shares, or a total of 136,000 shares (representing
10% of the outstanding common stock as of the June 1999 commencement date of the
repurchase program). The stock repurchase program is expected to be in effect
for up to an additional twelve months, until approximately February 2001. Under
the program, no shares knowingly will be purchased from officers or directors of
the Company or from persons who hold in excess of five percent of the Company's
outstanding shares of common stock.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this Report to be signed on its behalf
by the undersigned thereunto duly authorized.
FIRST COASTAL CORPORATION
Date: February 16, 2000 By: /s/Gregory T. Caswell
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Gregory T. Caswell
President and Chief Executive Officer
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