SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT FORM
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 26, 2000
NewMil Bancorp, Inc.
(Exact Name of Registrant as Specified in its Charter)
Delaware 0-16455 06-1186389
(State or other Jurisdiction (Commission (IRS Employer
of Incorporation File Number) Identification No.)
19 Main Street, P.O. Box 600, New Milford, Connecticut 06776
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 860-355-7600
N/A
(Former name or former address, if changed since last report)
ITEM. 5 OTHER EVENTS.
Attached is a copy of the Company's press release dated October 26, 2000
announcing shareholder approval of the acquisition of Nutmeg Federal
Savings and Loan Association.
Contact: Francis J. Wiatr
Chairman, President and CEO
(860) 355-7602
www.newmil.com
October 26, 2000
For Immediate Release
NewMil Bancorp Receives Regulatory and Shareholder
Approvals to Acquire Nutmeg Federal Savings and Loan
New Milford, CT (October 26, 2000) Shareholders of NewMil Bancorp, Inc,
(NASDAQ/NM: NMIL), holding company for NewMil Bank, approved its
previously announced acquisition of Nutmeg Federal Savings and Loan
Association of Danbury at a special meeting of shareholders on October
25, 2000. The company has received all regulatory approvals for the
acquisition.
Nutmeg shareholders voted to approve the agreement on October 18. Under
the terms of the agreement, Nutmeg common shareholders will receive the
equivalent of $8.25 in cash or common stock of NewMil for each share of
Nutmeg's common stock and $14.4375 in cash or common stock of NewMil for
each share of Nutmeg's Series B preferred. These figures may be
adjusted upward based on the sale by Nutmeg of certain loan servicing
rights prior to closing.
"Our partnership with Nutmeg significantly enhances NewMil Bank's
franchise in western Connecticut and will substantially strengthen our
position in the very attractive Danbury market where Nutmeg has four
branch offices," said Francis J. Wiatr, chairman, president and CEO of
NewMil Bancorp. "In addition, Nutmeg's Ridgefield branch will allow us
to further connect our franchise to lower Fairfield County and our
Norwalk location. Nutmeg's customers will benefit from having greater
convenience through our branch and ATM networks and will enjoy a
broader selection of services, including Online Banking."
"We will make the transition simple and convenient for Nutmeg customers,
who will continue to be served by familiar Nutmeg staff."
The acquisition, which was announced on May 31, is expected to close in
early November.
NewMil Bancorp, Inc. is the parent company of NewMil Bank, which has
served western Connecticut since 1858, and operates 14 full-service
banking offices and one special-needs branch throughout western
Connecticut. When the Nutmeg acquisition is complete, NewMil Bank
will have 18 full-service banking offices and total assets in excess
of $500 million.
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.
NEW MIL BANCORP, INC.
(Registrant)
Dated: October 26, 2000 By: /s/
B. Ian McMahon
Its: Executive Vice President
