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 18, 1998
COMMISSION FILE NO.: 0-23126
RELIANCE BANCORP, INC.
(Exact name of registrant as specified in its charter)
Delaware 11-3187176
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(State or other Jurisdiction of Incorporation (IRS Employer or
organization) Identification No.)
585 Stewart Avenue, Garden City, New York 11530
(Address of principal executive officer) (Zip Code)
Registrant's telephone number, including area code: (516) 222-9300
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Item 5. Other Events
On March 18, 1998, the Company announced a regular cash dividend of
$0.18 per common share for the quarter ended March 31, 1998, an increase of
$0.02 or 12.5% from the second quarter of fiscal year 1998. The dividend will be
payable on April 17, 1998 to stockholders of record on April 3, 1998.
Item 7 (c). Exhibits
Exhibit 99.1 Press Release announcing declaration of cash dividend dated March
18, 1998.
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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.
By: /s/ Raymond A. Nielsen
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Raymond A. Nielsen
President and
Chief Executive Officer
Dated: March 24, 1998
EXHIBIT 99.1
RELIANCE BANCORP, INC.
585 STEWART AVENUE TEL NO.: (516) 222-9300
GARDEN CITY, NY 11530 FAX: (516) 222-1997
NEWS RELEASE
FOR IMMEDIATE RELEASE March 18, 1998
For Information Contact:
Paul D. Hagan
S.V.P. - Chief Financial Officer
(516) 222-9300 extension 215
RELIANCE BANCORP, INC. ANNOUNCES INCREASE IN THIRD QUARTER
CASH DIVIDEND FOR FISCAL YEAR 1998
Garden City, New York, March 18, 1998
Reliance Bancorp, Inc. (NASDAQ/NMS:RELY), today announced that its Board of
Directors has declared a regular cash dividend of $0.18 per common share for the
quarter ending March 31, 1998, an increase of $0.02 or 12.5% from the regular
cash dividend paid for the second quarter of fiscal year 1998. The dividend will
be payable on April 17, 1998 to stockholders of record on April 3, 1998.
Raymond A. Nielsen, President and Chief Executive Officer commented, "The Board
of Directors' action to increase the cash dividend is reflective of the
Company's strong cash earnings and consistent with the Company's stated
objective of enhancing long term stockholder value."
Reliance Bancorp, Inc. is the holding company for Reliance Federal Savings Bank
and has assets of $2.2 billion. Reliance Bancorp, Inc. and Reliance Federal
Savings Bank are headquartered in Garden City, New York and operate 30 banking
offices, located in the Long Island, New York counties of Queens, Nassau and
Suffolk. Reliance Federal is a consumer oriented financial institution
specializing in providing deposit and credit services for its communities.
