SECURITIES AND EXCHANGE COMMISSION
Washington, DC. 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): May 15, 1998
Vista Bancorp. Inc.
(Exact name of registrant as specified in its charter)
New Jersey 0-21264 22-2870972
(State or other jurisdiction (Commission (I.R.S. employer
of incorporation) file number) Id. No.)
305 Roseberry Street, P.O. Box 5360, Phillipsburg, New Jersey 08865
(Address of Principal Executive Offices) (Zip Code)
Registrant's te1ephone number, including area code: (908) 859-9500
Former name or former address, if changed from last report: Not Applicable.
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VISTA BANCORP, INC.
FORM 8-K
Item 1. Changes in Control of Registrant
Not Applicable.
Item 2. Acquisition or Disposition of Assets.
Not Applicable.
Item 3. Bankruptcy or Receivership.
Not Applicable.
Item 4. Changes in Registrant's Certifying Accountant.
Not Applicable.
Item 5. Other Events
At the Registrant's Board Meeting of May 15, 1998, the directors
approved the declaration and payment of a ten percent (10%) stock
dividend on its outstanding common stock payable on June 10, 1998, to
holders of record as of the close of business on June 1, 1998.
No Fractional shares shall be issued in connection with the foregoing
stock dividend, but in lieu thereof, a cash payment shall be made to
any shareholder who otherwise would be entitled to a fractional share,
equal to the average of the closing sale prices for the five trading
days immediately preceding the trading date prior to such payment
date, of the shares of the Registrant's outstanding common stock on
The Nasdaq Stock Market, multiplied by the fraction of the share not
delivered to such shareholder.
Item 6. Resignations of Registrant's Directors.
Not Applicable.
Item 7. Financial Statements and Exhibits.
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The press re1ease of the Registrant with respect to the stock dividend is
attached hereto and incorporated by reference in as entirety herein.
Item 8. Change in fiscal year
Not Applicable.
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.
VISTA BANCORP, INC.
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(Registrant)
Date: May 15, 1998 /s/ William F. Keefe
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William F. Keefe, Executive Vice
President and Chief Financial Officer
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FOR IMMEDIATE RELEASE
For further information contact:
William F. Keefe, Exec. VP & CFO
(908) 859-9539
Jill A. Pursell, Asst. VP & Secretary
(908) 859-9559
VISTA ANNOUNCES 10% STOCK DIVIDEND AND INCREASE IN CASH DIVIDEND
Phillipsburg, New Jersey, May 15, 1998 --Vista Bancorp, Inc, (NASDAQ:VBNJ)
parent company of Phillipsburg National Bank and Twin Rivers Community Bank
today declared a 10% stock dividend in addition to an increase in its quarterly
cash dividend to $.12 per share from $.11 currently.
The dividend increase is the second in the last nine months. The stock
dividend and second quarter cash dividend will be payable on June 10, 1998 to
shareholders of record at the close of business June 1, 1998.
Barbara Harding, President and CEO commented, "these actions are consistent
with Vista's commitment to provide long-term shareholder value." Mrs. Harding
added, "we are very pleased by the confidence and loyalty entrusted to us by our
shareholders."
Following payment of the 10% stock dividend, Vista will have
approximately 4.6 million
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Except for the historical information contained herein, the matters discussed in
this news release are forward-looking statements that involve risks and
uncertainties, including the timely availability and acceptance of new products,
the impact of competitive products and pricing, the management of growth, and
the other risks detailed from time to time in the Company's SEC reports,
including the report on Form 10-K for the period ended December 31, 1997.
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