SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 3, 1997
MASON-DIXON BANCSHARES, INC.
(Exact name of Registrant as specified in Charter)
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Maryland 0-20516 52-1764929
(State or other Jurisdiction (Commission File Number) (IRS Employer Identification
of incorporation) No.)
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45 W. Main Street, Westminster, MD 21157
(Address of Principal Executive Offices/Zip Code)
Registrant's telephone number, including area code: (410) 857-3401
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
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INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events.
On November 28, 1997, Mason-Dixon Bancshares, Inc. issued a press
release entitled "Mason-Dixon Bancshares to Purchase Leading Maryland Consumer
Finance Company," a copy of which is attached to this Current Report on Form 8-K
as Exhibit 99.1.
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.
MASON-DIXON BANCSHARES, INC.
Date: December 3, 1997 By: /s/ Thomas K. Ferguson
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Thomas K. Ferguson
President and Chief Executive Officer
F4660.600
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EXHIBIT INDEX
Exhibit
Number Description of Exhibit Page
99.1 Press Release entitled "Mason-Dixon Bancshares to 5
Purchase Leading Maryland Consumer Finance
Company" dated November 28, 1997.
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Exhibit 99.1
NEWS FROM MASON-DIXON BANCSHARES, INC.
FOR RELEASE
Thomas K. Ferguson
Chief Executive Officer
410-857-3400
Mark A. Keidel
Chief Financial Officer
410-857-3453
MASON-DIXON BANCSHARES TO PURCHASE LEADING MARYLAND CONSUMER
FINANCE COMPANY
Westminster, MD - November 28, 1997 - Mason-Dixon Bancshares, Inc. (NASDAQ:MSDX)
today announced it has signed an agreement to purchase the Baltimore-based Rose
Shanis Companies, a family owned consumer finance company with approximately $47
million in loans outstanding.
Founded in 1932, by Rose Shanis Glick, the Rose Shanis organization consists of
a network of 12 strategically located branch offices located around the
Baltimore Beltway and in the cities of Annapolis, Bel Air and Easton, MD. In
addition to originating consumer loans through its branches, the company also
finances consumers' purchases of large ticket items, such as automobiles,
appliances and furniture through a network of dealers with whom Rose Shanis has
developed strong, long-term relationships.
"We see the addition of the Rose Shanis organization to our franchise as a very
solid strategic fit," said Thomas K. Ferguson, President and CEO of Mason-Dixon
Bancshares. "It's a logical extension of the balance sheet and a business line
in which we already have considerable experience and a favorable track record.
Rose Shanis has historically produced strong loan growth and excellent
profitability."
"The Rose Shanis network of offices is well-situated and complements the
existing branch locations of our two banks," said Ferguson.
Upon completion of the transaction, which is expected to occur in early 1998,
Rose Shanis will be operated as a wholly-owned subsidiary of Mason-Dixon
Bancshares, Inc. Rose Shanis' President, Norman J. Glick, will continue his
affiliation with the Company after the acquisition, according to Ferguson.
Mason-Dixon Bancshares is headquartered in Westminster, MD and through its two
banking subsidiaries (Carroll County Bank and Trust Company and Bank of
Maryland) operates 22 retail banking offices in Central Maryland and on
Maryland's Eastern Shore. Other operating divisions include Mason-Dixon Trust
Company, Mason-Dixon Bancshares Mortgage Company, Mason- Dixon Investment
Services, and Mason-Dixon Commercial Finance. At September 30, 1997, Mason-Dixon
had total assets of $982 million, and was ranked as the 5th largest locally-
headquartered financial institution in Maryland.
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