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): June 16, 1998
FEDERAL TRUST CORPORATION
(Exact name of registrant as specified in its charter)
Florida 33-27139 59-2935028
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(State or other jurisdiction Commission File Number (I.R.S. Employer
Of incorporation) Identification No.)
1211 Orange Avenue
Winter Park, Florida 32789
(address of principal executive offices)
Registrant's telephone number: (407) 645-1201
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ITEM 5. OTHER EVENTS
On June 10, 1998, the common stock for Federal Trust Corporation was
approved for trading on the Nasdaq SmallCap Market System. The stock will begin
trading today, Wednesday, June 17, 1998 at 9:30 A.M. The stock price is quoted
under the symbol "FDTR" and was previously listed on the Over-the-Counter
Bulletin Board" with its stock price quoted on the "electronic pink sheets".
Federal Trust Corporation stock last traded on June 16, 1998 at $4.562 per
share. The press release is attached as Exhibit 1.
Pursuant to the requirements of the Securities Act of 1934, the registrant
has duly caused the report to be signed on its behalf by the undersigned
hereunto duly authorized.
Date: June 17, 1998
FEDERAL TRUST CORPORATION
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(Registrant)
By: /s/ Aubrey H. Wright, Jr.
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Aubrey H. Wright, Jr.
Chief Financial Officer and duly authorized
Officer of the Registrant
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PRESS RELEASE
FEDERAL TRUST CORPORATION
WINTER PARK, FLORIDA
Federal Trust Corporation, the parent holding company for Federal Trust
Bank, Winter Park, Florida, announced today as of 9:30 A.M., that its common
stock is now listed and traded on the NASDAQ SmallCap Market System. The common
stock price is quoted under the symbol "FDTR".
Jim Suskiewich, the Chairman and Chief Executive Officer of Federal Trust,
stated that "Over the past two years, we have worked very hard to restructure
the Company's operations and loan portfolio, so that our stock could make the
necessary market adjustments to accurately reflect our Company's position. This
effort has resulted in a steady increase in trading to ensure a narrower spread
between the bid and asking price for the Company's shares. We also wanted to
provide further liquidity for our shareholders, which we believe will be
accomplished by our NASDAQ listing."
There are five investment banking firms that are actively serving as market
makers for the Company's common stock, Robert W. Baird & Company, Naples,
Florida; Keefe, Bruyette & Woods, Inc. New York, New York; Tucker Anthony, Inc.
Chicago, Illinois; William R. Hough & Company, St. Petersburg, Florida; and
Allen C. Ewing & Company, Jacksonville, Florida.
Following the successful rights and community offering, which closed on
December 5, 1997, at a price of $2.00 per share, the common stock was previously
listed on the "Over the Counter Bulletin Board" and its stock price was quoted
on the "electronic pink sheets". As of the close of business on June 16, 1998,
Federal Trust's stock was traded at $4.562 per share.
EXHIBIT 1
