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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 (Date of earliest event reported): March 6, 1998
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EASTON BANCORP, INC.
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(Exact name of registrant
as specified in its charter)
Maryland 33-43317 52-1745344
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(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
501 Idlewild Avenue, Easton, Maryland 21601
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 819-0300
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N/A
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(Former name or former address, if changed since last report.)
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Item 5. Other Events.
On March 6, 1998, Thomas P. McDavid, the President and a director of
Easton Bancorp, Inc. (the "Company") and the President, Chief Executive Officer
and a director of its wholly-owned subsidiary, Easton Bank & Trust Company (the
"Bank"), resigned as an officer and a director of the Company and the Bank and
terminated his employment with the Bank. In connection with Mr. McDavid's
resignation, Mr. McDavid will receive his base salary as well as health and
disability insurance from the Bank for a period of up to twelve months from the
date of his resignation.
The Company is in the process of hiring an individual to fill the
positions vacated by Mr. McDavid's resignation. Delia B. Denny, the Senior Vice
President of the Bank, will serve on an interim basis as the President and Chief
Executive Officer of the Bank. The Company has decided not to appoint an interim
President of the Company. W. David Hill, the Chairman of the Board and the Chief
Executive Officer of the Company, will perform, on an interim basis, any
functions and duties otherwise typically performed by the President of the
Company.
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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.
EASTON BANCORP, INC.
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(Registrant)
By:/s/ W. David Hill
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Name: W. David Hill
Title: Chairman of the Board; Principal
Executive Officer
Dated: March 16, 1998
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