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UNITED STATES
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: March 21, 1997
SECOND BANCORP, INCORPORATED
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(Exact name of registrant as specified in its charter)
Ohio 0-15624 34-1547453
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(State of incorporation) (Commission (IRS employer
File Number) Identification NO.)
108 Main Avenue S.W., Warren, Ohio 44482-1311
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(Address of principal executive officer) (Zip code)
Registrant's telephone number, including area code: 330-841-0123
ITEM 5. OTHER EVENTS
On March 18, 1997, the Company issued the following press release:
SECOND BANCORP INCREASES DIVIDEND, ANNOUNCES STOCK SPLIT
Warren, Ohio, March 18, 1997--Second Bancorp Incorporated (Nasdaq
"SECD") announced that the Company's board of directors has increased the
dividend on its common stock to twenty-four cents ($.24) per share payable
April 30, 1997 to shareholders of record on April 15, 1997. This represents a
9% increase over the dividend paid in this year's first quarter. Alan G. Brant,
Chairman and President of Second Bancorp, stated "This increase in our common
stock dividend is the direct result of the Company's consistently improving
financial and operating performance. Our solid earnings record has put us in
position to continue sharing the Company's success with our shareholders
without affecting our ability to retain earnings at a level necessary to
sustain Second Bancorp's growth and expansion programs."
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Second Bancorp's board also approved a two-for-one stock split of the Company's
common stock effective May 1, 1997 to shareholders of record at the close of
business on April 30, 1997. David L. Kellerman, Second Bancorp's Treasurer,
stated "Our stock is now trading at or near its historic high. The stock split
being announced today will return the market price of a share of our comon
stock to a more affordable trading range. Maintaining the price of our stock at
a level which, we believe, accommodates and encourages small investors has
traditionally been a part of the company's business philosophy."
Second Bancorp is a bank holding company which provides a full range of
commercial banking, trust, insurance and investment services to communities in
a five county area of northeastern Ohio through the 27 office network of its
banking subsidiary, Second National Bank of Warren.
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.
Second Bancorp, Incorporated
Date: March 26, 1997 /s/ DAVID L. KELLERMAN
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David L. Kellerman,
Treasurer
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