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 - May 20, 1998
MONOCACY BANCSHARES, INC.
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(Exact name of registrant as specified in its charter)
Maryland 0-22536 52-1824297
____________________ ______________________ __________________
State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification Number)
222 East Baltimore Street
Taneytown, Maryland 21787
________________________________________ ____________________
(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code: (410) 756-2655
____________________
N/A
__________________________________________
(Former name or former address, if changed since last report)
<PAGE>
Item 1. Changes in Control of Registrant.
Not Applicable.
Item 2. Acquisition or Disposition of Assets.
Not Applicable.
Item 3. Bankruptcy or Receivership.
Not Applicable.
Item 4. Changes in Registrant's Certifying Accountant.
Not Applicable.
Item 5. Other Events.
Registrant files this Current Report on Form 8-K to submit a copy of
Registrant's Press Release, dated May 20, 1998, regarding the
resignation of Frank W. Neubauer, as President and Chief Executive
Officer, and the appointment of Eric E. Glass, Chairman of the Board
of Directors, as acting Chief Executive Officer of the Registrant. A
copy of the Press Release is attached as Exhibit 99, hereto, and
incorporated herein by reference.
Item 6. Resignations of Registrant's Directors.
Not Applicable.
Item 7. Financial Statements and Exhibits.
(a) Not Applicable.
(b) Not Applicable.
(c) Exhibits
99 Press Release, dated May 20, 1998, regarding the
resignation of Frank W. Neubauer.
Item 8. Change in Fiscal Year.
Not Applicable.
<PAGE>
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.
MONOCACY BANCSHARES, INC.
(Registrant)
Dated: May 20, 1998 /s/ Michael K. Walsch
---------------------------------
Michael K. Walsch, Executive Vice
President, Chief Financial Officer
and Chief Operations Officer
<PAGE>
EXHIBIT INDEX
Page Number
in Manually
Exhibit Signed Original
- ------- ---------------
99 Press Release, dated May 20, 1998, 5
regarding resignation of Frank W. Neubauer.
EXHIBIT 99
PRESS RELEASE
NEWS ABOUT TANEYTOWN BANK
& TRUST COMPANY
FOR: IMMEDIATE RELEASE CONTACT: MICHAEL K. WALSCH,
May 20, 1998 Executive Vice President/
Chief Operating Officer
410.876.3787 Or 410. 756.2655
www.taneytownbank.com
RESIGNATION OF FRANK W. NEUBAUER
Frank W. Neubauer, the President and Chief Executive Officer of Monocacy
Bancshares, Inc. and of Taneytown Bank & Trust Company, today announced his
resignation as President, CEO and a Director of each company, effective
immediately. Mr. Neubauer said that he was leaving to pursue other
opportunities. The Board of Directors accepted Mr. Neubauer's resignation.
The Board of Directors has appointed Eric E. Glass, a Bank Director since 1977
and the current Chairman of the Board of Directors, as acting Chief Executive
Officer. Michael K. Walsch will continue his duties as Executive Vice President,
Chief Operating Officer and Chief Financial Officer of the company continuing
his current role in directing the day to day operations of the bank reporting to
Eric E. Glass.
Mr. Glass stated, "since Mike Walsch has been a driving force in the banks
tremendous success, I am confident that we will continue the level of service
and performance that our bank has previously achieved."
In this interim capacity, Mr. Glass will work towards this smooth transition.
Taneytown Bank & Trust Company is a full service bank which operates eleven
branches in Carroll, Howard, Baltimore and Adams (PA) Counties. Taneytown Bank
Insurance Center is a division of the company that provides a full range of
personal and commercial insurance products. The Bank also owns and operates TBT
Insurance, Inc., a subsidiary offering Mutual Funds and Single Premium and IRA
Annuities.
Taneytown Bank & Trust Company is a part of Monocacy Bancshares, Inc.
