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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: August 3, 1998
SHORELINE FINANCIAL CORPORATION
(Exact name of registrant as
specified in its charter)
MICHIGAN 0-12216 38-2758932
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification no.)
incorporation)
823 RIVERVIEW DRIVE
BENTON HARBOR, MICHIGAN 49022
(Address of principal executive offices) (Zip Code)
Registrant's telephone number,
including area code: (616) 927-2251
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Item 5. OTHER EVENTS.
On August 3, 1998, Shoreline Financial Corporation issued the
press release attached as Exhibit 99 to this Form 8-K.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION, AND
EXHIBITS.
(c) Exhibits:
99 Press Release dated August 3, 1998.
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SIGNATURE
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.
Dated: August 3, 1998 SHORELINE FINANCIAL CORPORATION
(Registrant)
By: /S/ WAYNE R. KOEBEL
Wayne R. Koebel
Executive Vice President
and Chief Financial Officer
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EXHIBIT INDEX
EXHIBIT NUMBER DOCUMENT
99 Press Release dated August 3, 1998.
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EXHIBIT 99
NEWS RELEASE
NASDAQ: SLFC
DATE: AUGUST 3, 1998
9:00 A.M.
CONTACT: WAYNE R. KOEBEL
SHORELINE FINANCIAL CORPORATION
(616) 934-1011
SHORELINE ACQUIRES THE STATE BANK OF COLOMA
Benton Harbor, Michigan -- Dan L. Smith, Chairman of the Board,
President and Chief Executive Officer of Shoreline Financial Corporation,
announced today that Shoreline has completed its acquisition of The State
Bank of Coloma.
The State Bank of Coloma, located in Coloma, Michigan, had total
assets of approximately $27.6 million as of June 30, 1998.
Shoreline Financial Corporation is a bank holding company that had
total assets of $889.4 million as of June 30, 1998. Its subsidiary bank,
Shoreline Bank, serves its banking customers through its main office in
Benton Harbor, Michigan, and 29 branch locations in 20 communities in
Southwestern Michigan. In addition to Shoreline Bank's branch network, it
provides a wide range of products and services including an expanded ATM
network, a VISA debit card, an Investment and Trust Department, and a
Commercial Loan Department.
Mr. Smith stated "This in-market merger gives us greater access to
retail customers in our natural markets, and will enhance our ability to
originate loans and core deposits. We expect the merger to have an
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immaterial effect on our net income in 1998, and to enhance shareholder
value in future years."
Sandra Kraemer, Acting President of The State Bank of Coloma, added
"This affiliation with Shoreline makes a broader range of banking and trust
services available to our customers, while retaining the high level of
personal service The State Bank of Coloma customers have previously
enjoyed."
The customers of The State Bank of Coloma may begin using Shoreline
Bank's extensive branch banking network as soon as Shoreline converts
Coloma's computer systems. Shoreline anticipates that this conversion will
be completed by August 31, 1998.