SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Pursuant to Section 13 or 15 (d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 3, 1997
PEOPLES BANCORP
(Exact name of registrant as specified in its charter)
Indiana 0-18991 35-1811284
(State or other jurisdiction (Commission I.R.S. Employer
of incorporation) File Number) Identification No.)
212 West Seventh Street, Auburn, Indiana 46706
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (219) 925-2500
Not Applicable
(Former name or former address, if changed since last report)
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Item 5. Other Events
On May 17, 1997, the Board of Directors authorized establishment of stock
repurchase program pursuant to which the registrant may repurchase up to 160,000
shares of its common stock, which represents approximately 7% of its outstanding
stock, from time to time in the open market or in privately negotiated
transactions. Such stock purchases are expected to be completed within two
years. For information regarding the repurchase program, reference is made to
the registrant's press release dated June 3, 1997, which is attached hereto as
Exhibit A and incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
Exhibit A -- Press Release dated June 3, 1997.
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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.
PEOPLES BANCORP
By: Roger J. Wertenberger
Chairman of the Board
Date: June 3, 1997
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EXHIBIT A
FOR IMMEDIATE RELEASE DATE: June 3, 1997
CONTACT: Roger J. Wertenberger
(219) 925-2500
PEOPLES BANCORP APPROVES STOCK REPURCHASE PROGRAM
(AUBURN, IN) -- Peoples Bancorp today announced that it is commencing a stock
repurchase program to acquire up to 7% of the Company's outstanding common
stock, or approximately 160,000 shares. The program will be dependent upon
market conditions, and there is no guaranty as to the exact number of shares to
be repurchased by the Company.
Roger J. Wertenberger, Chairman of the Board of Peoples Bancorp, stated that the
Board of Directors has authorized the expenditure of up to $4 million for the
repurchase program, which is expected to be completed within two years. Mr.
Wertenberger explained that the Board of Directors considered Peoples' common
stock to be an attractive investment.
According to Mr. Wertenberger, the repurchases generally would be effected
through open market purchases, although he did not rule out the possibility of
unsolicited negotiated transactions.
At March 31, 1997, Peoples Bancorp reported total assets of $283.2 million and
shareholders' equity of $43 million, or 15.18% of total assets.
Peoples Bancorp, through its wholly owned subsidiary, Peoples Federal Savings
Bank, offers an extensive line of banking services to northeastern Indiana
through offices in Auburn, Avilla, Columbia City, Garrett, Kendallville, and
LaGrange.
The common stock of Peoples Bancorp is traded in the National Market System
under the NASDAQ symbol PFDC.
