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 - December 1, 1995
STERLING FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
Pennsylvania
(State or other jurisdiction
of incorporation)
0-16276
(Commission File
Number)
23-2449551
(IRS Employer
Identification Number)
North Pointe Banking Center
101 North Pointe Boulevard
Lancaster, Pennsylvania
(Address of principal executive offices)
17601-4133
(Zip Code)
Registrant's telephone number including area code: (717) 581-6030
N/A
(Former name or former address, if changed since last report)
Item 1. Changes in Control of Registrant.
Not Applicable.
Item 2. Acquisition or Disposition of Assets.
Not Applicable.
Item 3. Bankruptcy or Receivership.
Not Applicable.
Item 4. Changes in Registrant's Certifying Accountant.
Not Applicable.
Item 5. Other Events.
On December 1, 1995, the registrant's subsidiary completed the
acquisition of branches previously announced in August, 1995. The
attached press release provides the details concerning the
transaction.
Item 6. Resignations of Registrant's Directors.
Not Applicable.
Item 7. Financial Statements and Exhibits.
Exhibit:
99.1 Press Release of the Registrant, Sterling Financial
Corporation, dated December 6, 1995, in connection with
the acquisition of certain assets and the
assumption of certain liabilities associated
with a branch acquisition transaction.
Item 8. Change in Fiscal Year.
Not Applicable.
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.
STERLING FINANCIAL CORPORATION
(Registrant)
Dated: December 7, 1995 /s/ John E. Stefan
John E. Stefan, President and Chief
Executive Officer
(Principal Executive Officer)
PRESS RELEASE 99.1
FOR IMMEDIATE RELEASE
Date: December 6, 1995
Contact Person: John E. Stefan, Chairman of the Board, President and
Chief Executive Officer (717) 581-6030
On December 1, 1995, Bank of Lancaster County, N.A., a wholly-owned
subsidiary of Sterling Financial Corporation, completed the transaction
announced in August of 1995 involving the acquisition of the Ephrata and
Leola branches of CoreStates Bank, N.A. While the previous
announcement referred to three branch offices being acquired, the acquisition
agreement was subsequently amended to remove the North Catasauqua branch
from the transaction. The acquisition involved primarily the assumption of
certain deposit liabilities in the approximate amount of $25 million and the
acquisition of certain assets in the approximate amount of $700,000.
Chairman of the Board, President and Chief Executive Officer, John E.
Stefan, emphatically stated. "These acquisitions validate our commitment to
Lancaster County. With the increasing activity of bank mergers and
acquisitions on the horizon, Bank of Lancaster County will evaluate these
opportunities as they complement our strategic marketing plan."
Ephrata and Leola branches mark the twenty-fourth and twenty-fifth
community banking offices for Bank of Lancaster County, in addition to the
bank's wholly owned subsidiary, Town and Country Leasing, Inc. Bank of
Lancaster County's assets now total $703,011,100.
