<PAGE>
FORM 10-Q/A
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
OF THE SECURITIES AND EXCHANGE ACT OF 1934
(X) Quarterly report pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
OR
( ) Transition report pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
For the Quarter Ended:
March 31, 1996 Commission File Number: 0-17286
PRIME BANCORP, INC.
(Exact name of registrant as specified in its charter)
Delaware 23-2528428
(State of other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
6425 Rising Sun Avenue, Philadelphia, Pennsylvania 19111
(Address of principal executive offices) (Zip Code)
(215) 742-5300
(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed
all reports required to be filed by Section 13 or 15(d) of the
Securities and Exchange Act of 1934 during the preceding 12 months
(or for shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements
for the past 90 days.
Yes X No
The number of shares outstanding of the Registrant's common
stock as of March 31, 1996:
Common Stock -- 3,723,353
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PART II
OTHER INFORMATION
Item 1 Legal Proceedings
The Company is not engaged in any legal proceedings of a material nature
at the present time. From time to time, the Company is a party to legal
proceedings wherein it enforces its security interest in mortgage loans made
by it.
Item 2 Changes in Securities
Not applicable.
Item 3 Defaults Upon Senior Securities
Not applicable.
Item 4 Submission of Matters to a Vote of Security Holders
The 1996 Annual Meeting of Stockholders of Prime Bancorp, Inc. was held
on April 17, 1996 for the purpose of electing two directors, the
appointment of KPMG Peat Marwick LLP as independent auditors for the fiscal
year 1996. The results of the voting with respect to each nominee for
director and, with respect to the ratification of auditors were as follows:
1. Directors For Withheld Non-Vote
a. Raymond L. Weimann 2,866,959 141,249 --
b. Erwin T. Straw 2,866,959 141,249 --
2. Ratification of Auditors
For Against Abstain Non-Vote
2,993,716 6,909 7,580 --
Item 5 Other Information
Not applicable.
Item 6 Exhibits and Reports on Form 8-K
(a) Exhibits
27. Financial Data Schedules
(b) Reports on Form 8-K
None
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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.
Date: May 15, 1996 /s/ James J. Lynch
James J. Lynch
President and Chief
Executive Officer
Date: May 15, 1996 /s/ Michael J. Sexton
Michael J. Sexton
Treasurer and Chief
Financial Officer
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EXHIBIT INDEX
<TABLE>
<CAPTION>
EXHIBIT METHOD OF FILING
<S> <C> <C>
27. Financial Data Schedules ............. Filed herewith electronically
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 9
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> MAR-31-1996
<CASH> 14,909
<INT-BEARING-DEPOSITS> 3,394
<FED-FUNDS-SOLD> 0
<TRADING-ASSETS> 0
<INVESTMENTS-HELD-FOR-SALE> 96,600
<INVESTMENTS-CARRYING> 100,717
<INVESTMENTS-MARKET> 101,020
<LOANS> 362,033
<ALLOWANCE> 3,812
<TOTAL-ASSETS> 608,967
<DEPOSITS> 484,408
<SHORT-TERM> 49,020
<LIABILITIES-OTHER> 8,055
<LONG-TERM> 10,000
0
0
<COMMON> 3,907
<OTHER-SE> 53,577
<TOTAL-LIABILITIES-AND-EQUITY> 608,967
<INTEREST-LOAN> 7,760
<INTEREST-INVEST> 3,034
<INTEREST-OTHER> 145
<INTEREST-TOTAL> 10,939
<INTEREST-DEPOSIT> 4,648
<INTEREST-EXPENSE> 775
<INTEREST-INCOME-NET> 5,516
<LOAN-LOSSES> 300
<SECURITIES-GAINS> 131
<EXPENSE-OTHER> 3,533
<INCOME-PRETAX> 2,447
<INCOME-PRE-EXTRAORDINARY> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 1,603
<EPS-PRIMARY> .42
<EPS-DILUTED> .42
<YIELD-ACTUAL> 8.03
<LOANS-NON> 2,386
<LOANS-PAST> 0
<LOANS-TROUBLED> 0
<LOANS-PROBLEM> 981
<ALLOWANCE-OPEN> 3,764
<CHARGE-OFFS> 290
<RECOVERIES> 38
<ALLOWANCE-CLOSE> 3,812
<ALLOWANCE-DOMESTIC> 3,574
<ALLOWANCE-FOREIGN> 0
<ALLOWANCE-UNALLOCATED> 238
</TABLE>
