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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) November 22, 1999
UNITED NATIONAL BANCORP
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(Exact name of registrant as specified in its charter)
New Jersey
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(State or other jurisdiction of incorporation)
000-16931 22-2894827
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(Commission File Number) (IRS Employer Identification No.)
1130 Route 22 East, Bridgewater, New Jersey 08807-0010
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(Address of principal executive offices)
(908) 429-2200
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(Registrant's telephone number, including area code)
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Item 5. Other Events.
On November 22, 1999, the Board of Directors of United National Bancorp
("United") has approved a plan to repurchase up to 800,000 shares, or
approximately five percent of its common stock
Under the stock repurchase plan, which is effective immediately, the Company
will purchase shares from time to time in open market transactions or privately
negotiated transactions at prevailing market prices. Repurchased shares will be
reserved for later reissue in connection with future stock dividends, employee
benefit plans and other general corporate purposes.
The Company currently has 16,145,931 outstanding shares. Repurchase of the
Company's stock is subject to availability of the stock and may be discontinued
at any time.
A copy of United's press release is being filed as an exhibit to this Current
Report.
Item 7. Financial Statements and Exhibits. Exhibits
99(a) United issued a press release dated November 22, 1999,
announcing United's stock repurchase program.
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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.
UNITED NATIONAL BANCORP
Dated: November 24, 1999 By:Thomas C. Gregor
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Thomas C. Gregor
Chairman, President and
Chief Executive Officer
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INDEX TO EXHIBITS
Exhibit No. Description
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99(a) Press Release dated November 22, 1999
Exhibit 99(a)
UNITED NATIONAL BANCORP
ANNOUNCES STOCK REPURCHASE PROGRAM
Bridgewater, NJ-November 22, 1999-United National Bancorp (NASDAQ: UNBJ), parent
company of United National Bank, announced today that its Board of Directors has
approved a plan to repurchase up to 800,000 shares, or approximately five
percent of its common stock.
Under the stock repurchase plan, which is effective immediately, the Company
will purchase shares from time to time in open market transactions or privately
negotiated transactions at prevailing market prices. Repurchased shares will be
reserved for later reissue in connection with future stock dividends, employee
benefit plans and other general corporate purposes.
"Based on current market conditions, this is a particularly opportune time to
repurchase shares," stated Thomas C. Gregor, United National's chairman and
chief executive officer. "We view this repurchase plan as part of an ongoing
strategy to build value for our stockholders while maintaining appropriate
capital levels."
The Company currently has 16,145,931 outstanding shares. Repurchase of the
Company's stock is subject to availability of the stock and may be discontinued
at any time.
United National Bancorp, headquartered in Bridgewater, New Jersey, is a $2.1
billion asset commercial bank holding company whose principal subsidiary is
United National Bank. The Bank operates 35 offices throughout Essex, Hunterdon,
Middlesex, Morris, Somerset, Union and Warren counties in New Jersey. United
National provides a complete range of personal and business banking services as
well as an array of trust and investment services. United Commercial Capital
Group, a subsidiary of United National Bank, provides timely and innovative
financing solutions for real estate and commercial transactions that do not fall
within the boundaries of traditional bank financing. Visit United National on
the World Wide Web at www.united-national.com.
Contact: media, Donald Reinhard of United National, 908-429-2370 or investors,
United National Investor Relations, 908-429-2405.
