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 - October 3, 1996
CONTINENTAL BANCORPORATION
(Exact name of registrant as specified in its charter)
New Jersey 0-17907 52-1625583
(State or other (Commission (I.R.S. Employer
jurisdiction of incorporation) File Number) Identification No.)
1345 Chews Landing Road, Gloucester Township, Laurel Springs, New Jersey 08201
(Address of principal executive offices, zip code)
609-227-8000
(Registrant's telephone number, including area code)
<PAGE>
Items 1, 3 - 6, 8 Omitted
Item 2, Acquisition or Disposition of Assets
The attached press release (Exhibit 99) issued by Collective
Bancorp, Inc., contains all relevant information concerning the
disposition of all the assets of Continental Bancorporation.
Item 7. Financial Statements and Exhibits
(a) and (b) Omitted.
(c) Exhibits
(99) Collective Bancorp, Inc. press release
dated October 1, 1996
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.
Continental Bancorporation
--------------------------
(Registrant)
Date: October 3, 1996 SCOTT T. PAGE
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Scott T. Page
Senior Executive Vice President
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COLLECTIVE BANCORP NEWS RELEASE
Contact: Scott T. Page
(609) 625-1110
-------------------------
October 1, 1996
FOR IMMEDIATE RELEASE
COFD #131
COLLECTIVE BANCORP COMPLETES ACQUISITION
OF CONTINENTAL BANCORPORATION
Egg Harbor, New Jersey, October 1, 1996 - Collective Bancorp, Inc. (NASDAQ: NMS:
COFD) has completed its acquisition of Continental Bancorporation, it was
announced today by Thomas H. Hamilton, Chairman and CEO of Collective.
Continental Bancorporation is the parent holding company for Continental Bank of
New Jersey, a state-chartered commercial bank with $170 million in assets which
operates four banking offices in Camden County, New Jersey. Collective Bancorp
will operate Continental Bank of New Jersey as a separate subsidiary under a
multiple holding company structure.
Under the terms of the transaction, each of the 5,140,527 shares of Continental
Bancorporation common stock outstanding was converted into the right to receive
$5.00 per share in cash. The total transaction is valued at $25.7 million.
Instructions for the surrender of shares for payment will be mailed to holders
of Continental Bancorporation common stock as soon as practicable, Collective
indicated.
Collective Bancorp, Inc. is the parent holding company for Collective Bank, a
$5.2 billion in assets federal savings bank headquartered in Egg Harbor, New
Jersey. Collective Bank operates 78 banking offices providing depository and
lending services to individuals and businesses throughout New Jersey.
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