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) JANUARY 31, 1996
1ST COMMUNITY BANCORP, INC.
(Exact name of registrant as specified in its charter)
MICHIGAN 33-9110 38-2659066
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
109 EAST DIVISION, SPARTA, MICHIGAN 49345
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (616)887-7366
NOT APPLICABLE
(Former name or former address, if changed since last report)
REPORTABLE EVENTS FOR FORM 8-K
ITEM 5. OTHER EVENTS
Effective January 1, 1996, Sparta State Bank ("SSB"), a wholly-owned
subsidiary of the Registrant, acquired Bradford Insurance Centre, Ltd.
("Bradford") through a merger of Bradford with a wholly-owned subsidiary of
SSB. Bradford is an independent insurance agency with offices located in
Sparta, Cedar Springs, and Grand Rapids, Michigan. Bradford became a
wholly-owned subsidiary of SSB. The Registrant's common stock was issued
in exchange for 100% of the common stock of Bradford. The acquisition of
Bradford will be accounting for as a pooling-of-interests.
Unaudited Results of Operations for One Month Ended January 31, 1996.
To provide a period that the Registrant can use to demonstrate that the
risk sharing requirements for pooling-of-interests accounting treatment (as
required by the Securities and Exchange Commission's Codification of
Financial Reporting Policies, Section 201.01) are satisfied, stated on the
following page are the combined condensed unaudited results of operations
for the one month ended January 31, 1996, which covers at least thirty days
of post-merger operations.
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<TABLE>
<CAPTION>
ONE MONTH ENDED
JANUARY 31, 1996
<S> <C>
Interest income
Loans, including fees $650
Securities 114
Federal funds sold and Federal Home Loan
Bank account 1
Total interest income 765
Interest expense
Deposits 325
Federal funds purchased 4
Federal Home Loan Bank advance 5
Total interest expense 334
Net interest income 431
Provision for loan losses 30
Net interest income after provision for
loan losses 401
Other income 112
Other expenses (339)
Income before income tax 174
Income tax expense 50
Net income $124
Net income per common share $.26
</TABLE>
The operating results presented above for the one month period ended
January 31, 1996, are not necessarily indicative of the results that may be
expected for the three month period from January 1, 1996, to March 31,
1996.
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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.
1ST COMMUNITY BANCORP, INC.
Date MARCH 14, 1996 /S/ THOMAS L. LAMPEN
Thomas L. Lampen
Treasurer
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