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): October 15, 1999
POINTE FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
FLORIDA 0-24433 65-0451402
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation) Identification No.)
21845 Powerline Road
Boca Raton, FL 33433
Address of principal executive Offices (Zip Code)
Registrant's telephone number, including area code: (561)368-6300
(NOT APPLICABLE)
(Former name of former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
On October 15, 1999, the Board of Directors of Pointe Financial Corporation
declared a dividend of $0.05 per share on its common stock for the quarter ended
September 30, 1999, and allocated an additional $1,000,000 to the stock
repurchase program originally approved on May 4, 1999. The press release
concerning these events is attached hereto as an exhibit.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) The following exhibits are filed with this report:
99.1 Press Release, dated October 19, 1999, issued by
Pointe Financial Corporation.
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 hereunto duly authorized.
POINTE FINANCIAL CORPORATION
By: /s/ Bradley R. Meredith
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Bradley R. Meredith
Chief Financial Officer
(Principal Financial and Accounting Officer)
Dated: October 19, 1999
2
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EXHIBIT INDEX
EXHIBIT DESCRIPTION
99.1 Press Release, dated October 19, 1999
Pointe Financial Corporation
PRESS RELEASE
TODAY'S DATE: October 19, 1999
RELEASE DATE: Immediate
(Nasdaq: PNTE)
POINTE FINANCIAL CORPORATION REPORTS
CONTINUATION OF STOCK BUY-BACK
AND
DIVIDEND FOR THIRD QUARTER OF 1999
Today, Pointe Financial Corporation announced that its Board of Directors, at
their October meeting, authorized the repurchase of up to an additional
$1,000,000 of the Company's stock.
Shares may be purchased from time to time on the open market at prevailing
prices, subject to market conditions. From May 12, 1999 through September, the
Company purchased 188,400 shares of its common stock for an aggregate price of
$1,999,250. Pointe currently has 2,122,193 shares of common stock outstanding.
"The board's action reflects its confidence in the Company's long term prospects
and a continued belief that our stock represents an attractive investment
opportunity," said R. Carl Palmer, Jr.
At its October meeting, the Board also declared a quarterly dividend payment of
five cents ($.05) per share of Pointe Financial Corporation Common Stock. The
dividend will be paid on December 1, 1999, to shareholders of record as of
November 15, 1999.
Pointe Financial Corporation is a Bank Holding Company which owns Pointe Bank, a
community bank, which operates five branch offices located in Palm Beach,
Broward and Miami Dade counties.
CONTACT: R. Carl Palmer, Jr., President and Chief Executive Officer, or Bradley
R. Meredith, Chief Financial Officer, of Pointe Financial Corporation, phone:
(561)368-6300
