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) February 02,
1998 (January 21, 1998)
Union National Bancorp, Inc.
Maryland 52-1862338
(State or other jurisdiction of (Commission file (IRS Employer
Incorporation or Organization) number) Identification No.)
117 East Main Street, Westminster, Maryland 21157
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code (410) 848-7200
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Item 5: Other Events
Union National Bancorp, Inc. released two separate Press Releases
announcing 1997 earnings and stock actions approved by the Board of Directors.
The Press Releases were dated January 21, 1998 and January 27, 1998.
Item 7: Financial Statements, Proforma Information and Exhibits.
(b) Exhibits;
(2) Press Release - Union National Bancorp Approves Stock Actions
Press Release - Union National Bancorp Earnings up 28.80%
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.
Date: February 03, 1998 Union National Bancorp, Inc.
/s/ Virginia W. Smith
Virginia W. Smith, President
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EXHIBITS
1. Press Release: Union National Bancorp Earnings up 28.80%
2. Union National Bancorp Approves Stock Actions
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PRESS RELEASE
RELEASE: IMMEDIATE Contact: Virginia W. Smith
Union National Bank
President
Date: February 2, 1998 (410) 848-7200
Union National Bancorp Earnings up 28.80%
Union National Bancorp released fourth quarter earnings of $604,440 or $.72 per
share. For the year ended December 31, 1997 earnings were $2,400,103 up 28.80%
from the same period in 1996. Net income for fourth quarter 1997 rose 25% over
$484,712 for fourth quarter 1996. Fourth quarter earnings were boosted by the
strong growth in loans, which were up $9.5 million or 25.5% during the quarter.
After taking into account a one-time charge that occurred in the third quarter
1996, the annual earnings increase for 1997 was 15%. Total assets in 1997 grew
11.3% to $250,561,756.
Union National Bank, which is headquartered in Westminster, operates 9 branches
throughout Carroll County, with the most recent opening of the Mt. Airy branch.
117 East Main Street - P.O. Box 189 - Westminster, Maryland 21157
(410) 848-7200 - (410) 876-2051 - Fax (410) 840-9919
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PRESS RELEASE
RELEASE: IMMEDIATE Contact: Virginia W. Smith
Union National Bank
President
Date: February 2, 1998 (410) 848-7200
UNION NATIONAL BANCORP APPROVES
STOCK ACTIONS
On January 27, 1998, the Board of Directors of Union national Bancorp, Inc., in
the first of two important actions, approved a two for one share stock split for
shareholders of record on January 30, 1998 to be payable on February 13, 1998.
Additionally, the Board approved the listing of the Corporation's stock on the
NASDAQ Small Cap Market to be effective as soon as market makers can be chosen
and applications completed. The three markets makers will create a more active
market in the stock which will allow shareholders to have a true market price
for both purchases and sales. It will also allow shareholders to follow their
stock in the newspaper.
C72379.171 R:1
Union National Bank
117 East Main Street - P.O. Box 189 - Westminster, Maryland 21157
(410) 848-7200 - (410) 876-2051 - Fax (410) 840-9919
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