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) February 19, 1998
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COMMISSION FILE NO.: 0-23126
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RELIANCE BANCORP, INC.
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(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
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(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 February 19, 1998, the Company announced the completion of its fifth
stock repurchase program. The Company repurchased 440,973 shares of its
outstanding common stock, in open market transactions at an aggregate cost of
approximately $13,379,000. There will be 9,595,427 shares of Reliance Bancorp,
Inc. common stock outstanding upon settlement of the last transaction on or
about February 24, 1998.
Item 7 (c). Exhibits
Exhibit 99.1 Press Release announcing the completion of the Company's fifth
stock repurchase program.
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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: February 19, 1998
EXHIBIT 99.1
RELIANCE BANCORP, INC.
585 STEWART AVENUE (516) 222-9300
GARDEN CITY, NY 11530 FAX: (516) 222-1997
NEWS RELEASE
FOR IMMEDIATE RELEASE: February 19, 1998
For Information Contact:
Paul D. Hagan
Senior Vice President and
Chief Financial Officer
(516) 222-9308 Ext. 215
RELIANCE BANCORP, INC. COMPLETES FIFTH STOCK REPURCHASE
Garden City, New York, February 19, 1998
Reliance Bancorp, Inc. (NASDAQ/NMS:RELY), today announced that it has completed
its previously announced 5% stock repurchase program. The Company said it
repurchased 440,973 shares of its outstanding common stock, par value $.01 per
share, in open market transactions at an aggregate cost of approximately
$13,379,000. Upon settlement of the last transaction on or about February 24,
1998 there will be 9,595,427 shares of Reliance Bancorp, Inc. common stock
outstanding.
Reliance Federal Savings Bank is headquartered in Garden City, N.Y. and operates
through its administrative office in Garden City and through 30 full service
banking offices in the Long Island, N.Y. metropolitan area. The Bank's deposits
are insured by The Federal Deposit Insurance Corporation.
