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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) May 19, 1998
MADISON BANCSHARES GROUP, LTD.
(Exact name of registrant as specified in charter)
Pennsylvania 0-17539 23-2512079
(State or other jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification Number)
1767 Sentry Parkway West, Blue Bell, PA 19422
(Address of principle executive offices) (Zip Code)
Registrant's telephone number, including area code 215-641-1111
This document consists of 4 pages
Exhibit Index appears at Page 3
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Item 5. Other Events
On May 19, 1998, the Board of Directors declared a stock dividend
in the amount of twenty (20%) percent, payable in shares of the
Registrant's common stock. Such dividend is payable on or about
June 17, 1998 to holders of the Registrant's shares of Common
Stock on June 3, 1998. No fractional shares will be issued in
connection with such dividend.
The Registrant issued a press release regarding such dividend on
May 20, 1998, a copy of which is attached hereto and incorporated
herein by reference.
Item 7. Financial Statements and Exhibits
Exhibit 99 - Press Release of the Registrant, dated May 20, 1998.
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.
MADISON BANCSHARES GROUP, LTD.
Date: May 21, 1998 By: /s/ E. Cheryl Hinkle
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Name: E. Cheryl Hinkle
Title: Vice President
2
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EXHIBIT INDEX
Exhibit No.
99 Press Release dated May 20, 1998
3
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Exhibit 99
NEWS For Immediate Release
RELEASE Contact: Vito DeLisi
Madison Bank
(215)641-1111
MADISON BANCSHARES OF BLUE BELL
ANNOUNCES PAYMENT OF 20% STOCK DIVIDEND
BLUE BELL, PA, May 20, 1995 -- Madison Bancshares Group, Ltd., the
Pennsylvania bank holding company of Madison Bank of Blue Bell, PA,
has announced the declaration of a 20% stock dividend, payable in
shares of the Corporation's common stock, to shareholders of record of
the corporation's 1,295,748 shares of common stock as of June 3, 1998.
The dividend will be payable on or about June 17, 1998. No fractional
shares will be issued in conjunction with this dividend.
According to Madison Bank CEO, Vito A. DeLisi, "This stock dividend
payment represents the continued success of Madison Bank's community
banking approach in the suburban Philadelphia financial market."
Madison is currently servicing over 1,500 loan accounts and over 8,000
deposit accounts. Madison will be opening its sixth branch at Rhawn
and Verree Roads in the Fox Chase Section of Northeast Philadelphia at
the end of May.
Madison Bank, headquartered in Blue Bell, PA, operates branch offices
in the Madison Bank Building, Blue Bell, PA, Plymouth Square Shopping
Center, Conshohocken, PA, Village of Centre Square, Blue Bell, PA,
Lancaster Avenue in Strafford, PA, and on Main Street in Lansdale, PA.
Madison services commercial and personal accounts, offering services
including; early morning, late evening and weekend banking hours;
commercial, personal and mortgage loans; and money market and checking
accounts with free MAC transactions.
