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 (Date of earliest event reported): June 21, 1995
SHAWMUT NATIONAL CORPORATION
Delaware 1-10102 06-1212629
(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
777 Main Street, Hartford, Connecticut 06115
One Federal Street, Boston, Massachusetts 02211
(Address of principal executive offices) (Zip Code)
(203) 986-2000
Registrant's telephone number, including area code: (617) 292-2000
Not Applicable
(Former name or former address, if changed since last report)
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
AND EXHIBITS.
The following exhibits are filed with this Current
Report on Form 8-K:
EXHIBIT
NUMBER DESCRIPTION
99.1 Press Release of Shawmut National
Corporation, dated June 21, 1995.
99.2 Press Release of Shawmut National
Corporation, dated June 21, 1995.
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.
SHAWMUT NATIONAL CORPORATION
By: /s/ Joel B. Alvord
Joel B. Alvord
Chairman and Chief Executive Officer
Dated: June 28, 1995
EXHIBIT INDEX
EXHIBIT PAGE
NUMBER DESCRIPTION NUMBER
99.1 Press Release of Shawmut National
Corporation, dated June 21, 1995.
99.2 Press Release of Shawmut National
Corporation, dated June 21, 1995.
EXHIBIT 99.1
777 Main Street
Hartford, Connecticut 06115
[SHAWMUT NATIONAL One Federal Street
CORPORATION LOGO] Boston, Massachusetts 02211
Contact: NEWS MEDIA CONTACT: INVESTOR CONTACT:
Vincent Loporchio Thomas R. Rice
(617) 292-3239 (203) 986-4872
SHAWMUT NATIONAL CORP. STOCKHOLDERS APPROVE
MERGER WITH FLEET FINANCIAL GROUP INC.
BOSTON, MASS AND HARTFORD, CONN., JUNE 21, 1995 -- Shawmut
National Corp. (NYSE:SNC) stockholders today voted at the
company's annual meeting to approve the previously announced
strategic merger with Fleet Financial Group Inc. (NYSE:FLT). The
meeting was held at the Federal Reserve Bank of Boston.
The merger is subject to approval by federal and state
regulators and is expected to be completed in the fourth quarter
of this year.
"Today's stockholder vote in favor of the Fleet-Shawmut
merger is another important step toward creating New England's
preeminent financial services institution," said Joel B. Alvord,
Shawmut's chairman and chief executive officer.
On February 21, 1995, Fleet and Shawmut announced a
definitive agreement to merge. With over $80 billion in assets
and $50 billion in deposits, the combined institution will be
based in Boston.
The merged organization, which will be called Fleet Financial
Group, will be the 9th largest bank in the country. It will have
about 900 branches and 27,000 employees when the merger is fully
implemented. Terrence Murray, chairman and chief executive
officer of Fleet, will be president and chief executive officer of
the new Fleet and Alvord will be chairman.
Under the agreement, each share of Shawmut common stock would
be exchanged for 0.8922 newly issued shares of Fleet common stock
on a tax-free basis.
Shawmut National is a superregional bank holding company with
assets of $34 billion (as of March 31, 1995) and a franchise of
over 360 branches and 600 ATMs. One of the leading providers of
financial services to consumers and small to medium-sized
businesses in New England, Shawmut also provides services to
corporate customers, correspondent banks and government units.
EXHIBIT 99.2
777 Main Street
Hartford, Connecticut 06115
[SHAWMUT NATIONAL One Federal Street
CORPORATION LOGO] Boston, Massachusetts 02211
Contact: NEWS MEDIA CONTACT: INVESTOR CONTACT:
Vincent Loporchio Thomas R. Rice
(617) 292-3239 (203) 986-4872
SHAWMUT NATIONAL CORP. AUTHORIZES STOCK
REPURCHASE AND DECLARES QUARTERLY DIVIDEND
BOSTON, MASS. AND HARTFORD, CONN., JUNE 21, 1995 -- Shawmut
National Corp. (NYSE:SNC) today announced that its board of
directors has authorized the repurchase of shares of its common
stock sufficient to offset the approximately 6.5 million shares
issued on June 9, 1995 in connection with its acquisition of
Northeast Federal Corp. and to buy back additional shares expected
to be issued pursuant to its stock option plans. There are
approximately 4.8 million options outstanding.
The company expects that the program will entail the
repurchase of up to 9 million shares in 1995. Purchases are
authorized to begin immediately and may be made on the open market
or in privately negotiated transactions.
There were approximately 128.9 million shares of Shawmut
National common stock outstanding as of June 16, 1995.
In other action, the board also voted to pay a quarterly
dividend on its common stock of $.22 per share. The dividend is
payable on July 15, 1995 to shareholders of record on July 5,
1995.
Shawmut National is a superregional bank holding company with
assets of $34 billion (as of March 31, 1995) and a franchise of
over 360 branches and 600 ATMs. One of the leading providers of
financial services to consumers and small to medium-sized
businesses in New England, Shawmut also provides services to
corporate customers, correspondent banks and government units.
