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
AUGUST 19, 1996
(Date of earliest event reported)
First Financial Corporation of Western Maryland
(Exact name of registrant as specified in its charter)
DELAWARE 0-19837 52-1700036
(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
118 BALTIMORE STREET, CUMBERLAND, MARYLAND 21502
(Address of principal executive offices) (Zip Code)
(301) 724-3363
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former name, former address and former fiscal year, if changed since last
report)
Page 1 of 4 Pages
Exhibit Index appears on Page 2
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Item 5. OTHER EVENTS
On August 19, 1996, First Financial Corporation of Western Maryland
(the "Corporation") announced that it has engaged Alex. Brown & Sons
Incorporated as its financial adviser in order to assist the Board of
Directors in exploring and evaluating the various options available to the
Corporation to maximize shareholder value, including the possible sale of the
Corporation. A copy of the press release, dated August 19, 1996, is attached
hereto as Exhibit 99 and is incorporated herein by reference.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) FINANCIAL STATEMENTS OF BUSINESS ACQUIRED
Not applicable.
(b) PRO FORMA FINANCIAL INFORMATION
Not applicable.
(c) EXHIBITS
(99) Press release dated August 19, 1996.
<PAGE>
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 thereunto duly authorized.
FIRST FINANCIAL CORPORATION
OF WESTERN MARYLAND
Date: August 19, 1996 By: /S/WILLIAM C. MARSH
William C. Marsh
Executive Vice President and
Chief Financial Officer
[LETTERHEAD OF FIRST FINANCIAL CORPORATION
OF WESTERN MARYLAND]
PRESS RELEASE
Release Date: Further Information:
IMMEDIATE RELEASE Patrick J. Coyne
Chairman of the Board,
President and Chief
Executive Officer
Phone: 301/784-3105
-or-
William C. Marsh
Executive Vice President
Chief Financial Officer
August 19, 1996 Phone: 301/784-3106
FIRST FINANCIAL CORPORATION OF WESTERN MARYLAND
ANNOUNCES TAKING ACTION TO MAXIMIZE SHAREHOLDER VALUE
Cumberland, Maryland, August 19, 1996 - First Financial Corporation of Western
Maryland, (Nasdaq: FFWM) the holding company of First Federal Savings Bank of
Western Maryland, announced today that it has engaged Alex. Brown & Sons
Incorporated as its financial adviser in order to assist the Board of
Directors in exploring and evaluating the various options available to the
Company to maximize shareholder value, including the possible sale of the
Company. The Board has determined that it is appropriate to identify
potential acquirers and to pursue discussions with interested parties,
although no assurance can be given that discussions will occur or, should
discussions occur, that they will result in an offer being made to the Company
or that the Board will determine that any such offer, if received, is in the
best interest of shareholders.
The Company's wholly-owned subsidiary First Federal Savings Bank of Western
Maryland is a federally chartered, FDIC-insured stock savings bank which
conducts its business through 10 offices located within the greater Cumberland
area, Hagerstown, Frostburg, Oakland and Westernport, Maryland.
