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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): July 28, 1998
BSB BANCORP, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-17177 16-1327860
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
58-68 Exchange Street, Binghamton, New York 13902
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (607) 779-2525
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Not Applicable
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
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On July 28, 1998, BSB Bancorp, Inc. issued a press release announcing the
completion of a $30 million capital securities offering. A copy of the press
release is attached hereto as Exhibit 99.
(c) Exhibits.
Exhibit No. Description
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99 Press Release, Dated July 28, 1998.
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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.
BSB BANCORP, INC.
(Registrant)
Date: July 29, 1998 By: /s/ Alex S. DePersis
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Alex S. DePersis
President and Chief Executive Officer
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INDEX TO EXHIBITS
Exhibit No. Description Page
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99 Press Release, Dated July 28, 1998...............E-1
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Alex S. DePersis
President & CEO
607-779-2584
www.bsbbank.com
Binghamton, NY, July 28, 1998 - BSB Bancorp, Inc. (NASDAQ/NMS:BSBN)
announced today the completion of a $30 million capital securities offering. The
30-year 8.125% capital securities were issued by BSB Capital Trust I, a Delaware
business trust that was formed by BSB Bancorp, Inc. Keefe, Bruyette & Woods,
Inc. was the lead underwriter and the capital securities were sold to
institutional investors in an offering that was exempt from registration under
the federal securities laws.
The Trust was formed solely to invest the proceeds from the sale of the
capital securities in 8.125% junior subordinated debentures issued by BSB
Bancorp, Inc. The capital securities will qualify as Tier I Capital for BSB
Bancorp, Inc. and the proceeds to BSB Bancorp, Inc. will be used for general
corporate purposes.
BSB Bancorp, Inc.'s President and CEO Alex S. DePersis stated, "We believe
this is an opportune time for us to leverage the strength of BSB's sound
financial base and take advantage of a favorable interest rate environment.
This action provides added flexibility as we pursue opportunities for further
growth."
BSB Bancorp, Inc., which reported consolidated total assets of $1.77
billion as of June 30, 1998, is the holding company for BSB Bank & Trust Co.
BSB Bancorp, Inc. and BSB Bank & Trust Co. are headquartered in Binghamton, New
York and conduct business in Broome, Tioga, Chenango, Chemung and Onondaga
Counties, and adjacent areas in New York State.
