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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
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) February 24, 2000
AMERICORP
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(Exact name of Registrant as specified in its charter)
CALIFORNIA 033-18392 77-0164985
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(State or other jurisdiction (File number) (I.R.S. Employer
of incorporation) Identification No.)
304 EAST MAIN STREET, VENTURA, CA 93001
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(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code: (805) 658-6633
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(Former name or former address, if changed since last report)
Page 1 of 4 pages
Exhibit Index page 3
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ITEM 5. OTHER EVENT
The Board of Directors of Americorp has approved a stock repurchase
program for outstanding shares of Americorp's common stock. A press release
as of February 24, 2000 relating to such stock repurchase program is attached
as an exhibit to this Report.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99 Press Release of February 24, 2000
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.
Dated: February 24, 2000 AMERICORP
By: /s/ Gerald J. Lukiewski
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Gerald J. Lukiewski
President
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EXHIBIT INDEX
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Exhibit No. Description Page No.
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99 Press Release of February 24, 2000
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EXHIBIT 99
[LETTERHEAD]
FOR IMMEDIATE RELEASE
February 24, 2000
FOR MORE INFORMATION, CONTACT:
Gerald J. Lukiewski
PRESIDENT & CEO
805/658-6633
AMERICORP BOARD OF DIRECTORS ANNOUNCES
THE REPURCHASE OF 200,000 SHARES OF COMMON STOCK.
VENTURA, CA: Gerald J. Lukiewski, President and Chief Executive Officer of
Americorp, (OTC BB: AICA), the holding company of Ventura County based
American Commercial Bank announced today that the Board of Directors has
adopted a stock repurchase program for up to 200,000 of its outstanding
shares. Repurchases will be made from time to time over the next three years
in open market and privately negotiated transactions based on then current
market prices. The Company has approximately 2,100,000 shares of common stock
outstanding.
Mr. Lukiewski stated "The Board of Directors considers Americorp's stock to
be an attractive investment. Its objective in authorizing the repurchase
program is to increase the earnings per share of those shares of Americorp
that remain outstanding after the repurchases, as well as shareholder market
value generally."
Americorp and its subsidiary, American Commercial Bank, with assets over $240
million, is the largest independent bank with headquarters in Ventura County.
It currently operates six branches in the communities of Ventura, Oxnard and
Camarillo. The Bank is also a preferred SBA lender and has a full-service
mortgage department serving all of Ventura County.
