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
JUNE 10, 1997
(Date of earliest event reported)
Fed One Bancorp, Inc.
(Exact name of registrant as specified in its charter)
DELAWARE 0-25348 55-0736264
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
21 TWELFTH STREET, WHEELING, WEST VIRGINIA 26003-3295
(Address of principal executive offices) (Zip Code)
(304) 234-1100
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former name, former address and former fiscal year, if changed since last
report)
Page 1 of 4 Pages.
Exhibit Index appears on page 2.
<PAGE>
ITEM 5. OTHER EVENTS
On June 10, 1997, Fed One Bancorp, Inc. (the "Company" or the
"Registrant") announced plans to open three full-service branch offices in
Kroger supermarkets. A copy of the Press Release, dated June 10, 1997, is
attached hereto as Exhibit 99 and is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Not Applicable.
(b) Not Applicable.
(c) Exhibits:
99 Press Release, dated June 10, 1997
<PAGE>
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 thereunto duly authorized.
FED ONE BANCORP, INC.
Date: June 10, 1997 By: /S/ LISA K. DICARLO
Lisa K. DiCarlo
Senior Vice President and Treasurer
EXHIBIT 99
[FED ONE BANCORP LETTERHEAD]
RELEASE DATE: June 10, 1997
CONTACT: Lisa K. DiCarlo, SVP and Treasurer
William Salvatori, SVP
(304) 234-1100
FED ONE BANCORP ANNOUNCES EXPANSION
Fed One Bank, a subsidiary of Fed One Bancorp, Inc. (NASDAQ: FOBC),
announced today plans to open three full-service branch offices in Kroger
supermarkets. The Bank, subject to regulatory approval and the final
agreement, will place full-service offices in the new Kroger supermarkets
located in Bellaire, Ohio; Clairsville, Ohio; and Wheeling, West Virginia.
According to Senior Vice President William Salvatori, the Bellaire and St.
Clairsville offices are schedules to open in 1997 and the Wheeling office
is scheduled to open in the first quarter of 1998.
The supermarket branches will be open seven days a week with evening
and weekend hours. At the new branches, customers will find all the
accounts, services, and amenities of any full-service office, including a
full range of checking accounts, savings accounts, mortgage loans and
consumer loans. ATMs will also be located in each store.
In-store branching industry leader, International Banking Technologies
(IBT), will assist Fed One with developing the specialized banking program.
IBT reports that there are more than 5,000 in-store bank branches
nationwide.
Mr. Salvatori commented, "The locations for these offices were
carefully selected to expand our existing branch network to provide even
more convenience for our customers and to enable us to expand our customer
base. The in-store banking strategy is a cost-effective means for
expanding Fed One's delivery system."
Fed One Bank currently operates eight banking offices in West Virginia
and one banking office in Ohio.
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