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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): DECEMBER 4, 1998
ALLEGIANT BANCORP, INC.
(Exact name of registrant as specified in its charter)
MISSOURI 0-26350 43-1519382
(State or other (Commission File (I.R.S. Employer
jurisdiction of Number) Identification
organization) Number)
2122 KRATKY ROAD
ST. LOUIS, MISSOURI 63114
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (314) 692-8200
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Item 5. Other Events
On December 4, 1998, Allegiant Bancorp, Inc. (the "Registrant")
completed the sale of its three Northeast Missouri commercial banking branch
offices in Kahoka, Palmyra and Monroe City, including the deposit liabilities
and certain loans and fixed assets with respect thereto, to Exchange Bank of
Northeast Missouri, a subsidiary of Lincoln County Bancorp, Inc. The sale of
these branches will allow the Registrant to concentrate exclusively on
opportunities in the higher-growth St. Louis metropolitan area and contiguous
counties. Pursuant to this branch sale, the Registrant transferred
approximately $40.0 million of deposit liabilities and approximately $15.3 of
total assets, including approximately $13.9 million of total loans, to
Exchange Bank of Northeast Missouri. The Registrant received a total premium
of approximately $2.4 million in connection with such sale.
Item 7. Financial Statements and Exhibits
(a) Financial Statements of Business Acquired.
Not Applicable.
(b) Pro Forma Financial Information
Not Applicable.
(c) Exhibits
See Exhibit Index.
* * *
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.
Dated: December 18, 1998
ALLEGIANT BANCORP, INC.
By: /s/ Shaun R. Hayes
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Shaun R. Hayes, President
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EXHIBIT INDEX
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Exhibit No. Description
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<C> <S>
99 Press Release, dated December 15, 1998
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[ALLEGIANT BANCORP, INC. LETTERHEAD]
NEWS EDITOR: for further information on this
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news release, please contact Shaun R. Hayes,
President (314) 692-8200 or Sandra L. Friedman,
Senior Vice President & CFO (314) 692-8200.
FOR IMMEDIATE RELEASE:
NEWS FROM ALLEGIANT BANCORP, INC.
---------------------------------
ST. LOUIS, MO -- December 15, 1998 -- Allegiant Bancorp, Inc. (Nasdaq
National Market symbol: ALLE), a St. Louis-headquartered bank holding
company, today announced that on December 4, 1998 it completed the sale of its
three Northeast Missouri commercial banking branch offices in Kahoka, Palmyra,
and Monroe City, including deposit liabilities, loans and fixed assets, to
Exchange Bank of Northeast Missouri, a subsidiary of Lincoln County Bancorp,
Inc. The sale of these branches was at a premium, and will allow Allegiant
Bank to concentrate on opportunities in the higher growth St. Louis
metropolitan area and contiguous counties. Pursuant to these branch sales,
Allegiant Bank transferred $40.2 million of deposit liabilities, and $15.3
million of total assets, including $13.5 million of total loans, to Exchange
Bank of Northeast Missouri.
As previously announced, the Board of Directors has approved an increase
to five cents per share for the fourth quarter dividend to be paid on January
15, 1999 to the shareholders of record as of the close of business on
December 31, 1998. Additionally, the Board declared a 20% stock dividend to
be paid January 29, 1999 to holders of record as of the close of business on
January 8, 1999.
Allegiant Bancorp also announced that it has entered into a relationship
with LaSalle National Bank to refinance existing debt of the parent company
including an early payoff of higher rate subordinated debentures.
Allegiant Bancorp, Inc. is the parent company of Allegiant Bank, which
operates twelve branches in the St. Louis area. Allegiant offers commercial
and retail products and financial services to its customers, including
mortgages, trust services, home equity credit lines, debit cards and free
checking.
