Form 8-K for FIRST CHESAPEAKE FINANCIAL CORP filed on August 6, 1998
UNITED STATES
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) December 15, 1997
FIRST CHESAPEAKE FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
VIRGINIA 0-21912 54-1624428
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
12 OREGON AVENUE, PHILADELPHIA, PENNSYLVANIA 19148
(Address of principal executive offices)
Registrant's telephone number, including area code (215) 755-5691
(Former name or former address, if changed since last report.) Not applicable
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ITEM 5. OTHER EVENTS
First Chesapeake Announces Management Changes and Relocation of Offices
First Chesapeake Financial Corporation (the "Company") today announced a change
in management, retention of interim management, and the move of its corporate
headquarters.
In December, 1997, the Company's former management resigned and the Company's
Richmond, VA offices were closed. At that time, the Company retained interim
management to oversee the move of the office and cessation of the Company's
former activities.
Effective January 1, 1998, the Company's headquarters was moved from Richmond,
VA to 12 Oregon Avenue, Philadelphia, PA, 19148.
An announcement of permanent management will be made shortly.
According to Board of Directors, "the change in management and move of the
Company to Philadelphia represent the first steps toward restoring the Company's
operations and serving its shareholders."
The Company is a Virginia corporation that formerly engaged in the residential
and commercial mortgage banking business through origination, acquisition and
servicing of mortgage loans and mortgage loan servicing rights.
Statements in the press release concerning the Company's business outlook or
future economic performances, anticipated profitability, revenues, expenses or
other financial items, are forward-looking statements that are estimates
reflecting the best judgment of the Company based on currently available
information. Such forward-looking statements involve known and unknown risks,
uncertainties, contingencies and other factors that could cause results,
performance or achievements to differ materially from those stated. Such risks,
uncertainties, contingencies and other factors, many of which are beyond the
control of the Company, include overall economic and business conditions, trends
for the continued growth of the mortgage and financial services industry, the
realization of anticipated revenues, profitability and cost synergies, the
demand for the Company's products and services, pricing and other competitive
factors in the industry, new government regulations and/or legislative
initiatives, and other risks and uncertainties described in the Company's
reports and filings with the Securities and Exchange Commission. There can be no
such assurance that such factors will not affect the accuracy of such
forward-looking statements, and the Company assumes no obligation to update the
information in this release.
SIGNATURE
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 hereto duly authorized.
FIRST CHESAPEAKE FINANCIAL CORPORATION
Date: August 6, 1998 By: /s/ Richard N. Chakejian, Jr.
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Richard N. Chakejian, Jr. President
By: /s/ Mark Mendelson
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Mark Mendelson, Chief Executive Officer
