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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): May 28, 1999
HFB FINANCIAL CORPORATION
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(Exact name of Registrant as specified in its charter)
Tennessee 0-20956 61-1228266
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(Commission (I.R.S. Employer
(State or Other Jurisdiction File Number) Identification No.)
of Incorporation)
1602 Cumberland Avenue, Middlesboro, Kentucky 40965
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(Address of principal executive offices)
(606) 248-1095
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Registrant's telephone number, including area code
Not Applicable
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(Former Name or former address, if changed since last report)
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Item 5. Other Events.
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On May 28, 1999, Home Federal Bank, Federal Savings Bank ("Home Federal"),
a wholly owned subsidiary of the Registrant, and National City Bank of Kentucky
("National City") executed a Branch Purchase and Assumption Agreement providing
for Home Federal's acquisition of the Harlan, Kentucky branch office of National
City.
Under the Agreement, Home Federal will assume approximately $17.2 million
of deposits from National City, and will pay a premium of 3% of deposits
assumed, or approximately $534,000. The acquisition is subject to receipt of
all required regulatory approvals.
For more information, reference is made to the Registrant's press release
attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(a) - (b) Not applicable.
(c) The following exhibit is filed as part of this report.
Exhibit 99.1 Press release dated June 1, 1999
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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 behalf by the undersigned
hereunto duly authorized.
HFB FINANCIAL CORPORATION
Date: June 15, 1999 By: /s/ David B. Cook
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David B. Cook
President and Chief Executive Officer
(Duly Authorized Representative)
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EXHIBIT 99.1
CONTACT: David B. Cook, President FOR IMMEDIATE RELEASE
(606)248-1095
HFB FINANCIAL CORPORATION ANNOUNCES PLANNED ACQUISITION OF
HARLAN, KENTUCKY BRANCH OF NATIONAL CITY BANK OF KENTUCKY
Middlesboro, Kentucky June 1, 1999 HFB Financial Corporation, the parent
company of Home Federal Bank, announced that it has signed an agreement with
National City Bank of Kentucky to acquire its Harlan, Kentucky branch office.
Under the terms of the Agreement, Home Federal will assume approximately $17.2
million of deposits from National City Bank. The acquisition is expected to be
completed in three months and is subject to regulatory approval.
"This transaction will strengthen Home Federal's presence in Harlan County and
will permit us to become a more effective competitor in that market. With our
expanded branch network, we will be well positioned to deliver a full array of
banking services to customers in Harlan County," said David B. Cook, President
and Chief Executive Officer of the Company. "We are excited about welcoming
National City's Harlan customers to Home Federal, and we are committed to
providing our new customers with the highest level of service," added Mr. Cook.
HFB Financial Corporation is the holding company for Home Federal Bank, which
serves Eastern Kentucky and Northeastern Tennessee from its main office in
Middlesboro, Kentucky and branch offices in Harlan, Kentucky and New Tazewell,
Tennessee. At March 31, 1999, HFB Financial Corporation had total assets of
$192.2 million and stockholders' equity of $17.9 million.
