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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 10, 1997
FRANKFORT FIRST BANCORP, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-26360 61-1271129
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
216 W. Main Street, Frankfort, Kentucky 40602
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(502) 223-1638
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Not Applicable
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(Former name or former address, if changed since last report)<PAGE>
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ITEM 5. OTHER EVENTS.
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On June 10, 1997, the Registrant announced that it had
delayed the effective date of its previously announced one-for-
two reverse stock split to a to-be-determined date following
shareholder approval at the Company's 1997 annual meeting of
shareholders. The Registrant also announced certain information
regarding the ex-dividend date for its recently announced $4.00
special dividend payable on June 24, 1997.
Further information regarding the elements of this plan are
set forth in a press release dated June 10, 1997, attached as
Exhibit 99.1 and incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits
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Exhibits
99.1 Press Release dated June 10, 1997<PAGE>
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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 hereto duly authorized.
FRANKFORT FIRST BANCORP, INC.
DATE: June 10, 1997 BY: /s/ William C. Jennings
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William C. Jennings
Chairman, President and Chief
Executive Officer
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Frankfort First Bancorp, Inc.
For Immediate Release June 10, 1997
Contact: William C. Jennings, President
(502) 223-1638
216 West Main Street
P.O. Box 535
Frankfort, KY 40602
FRANKFORT FIRST BANCORP, INC.
CLARIFIES PAYMENT DATE OF SPECIAL DIVIDEND AND
DELAYS EFFECTIVE DATE FOR REVERSE STOCK SPLIT
Frankfort First Bancorp, Inc. (NASDAQ:FKKY) headquartered in
Frankfort, Kentucky, announced today that it had been informed by
the Nasdaq Stock Market that, due to the size of the Company's
previously-announced $4.00 special cash distribution in relation
to the trading price of its common stock; the common stock would
not trade as "ex-dividend" (or without the right to receive the
special dividend) until the first business day following the
payment of the special dividend or June 25, 1997. Consequently,
parties purchasing shares of common stock through the Nasdaq
Stock Market during the period between June 18, 1997 and June 24,
1997 will be entitled to receive the special distribution in lieu
of the seller. Such payment will come from the seller, not the
Company. Normally, the common stock trades "ex-dividend"
beginning two business days prior to the record date for the
dividend and purchasers of the common stock during the ex-
dividend period are not entitled to receive the dividend.
Individuals transacting in the common stock of the Company during
the period between the record date for the special distribution
and the payment date should consult their brokers for further
information.
Also, in order to obtain shareholder approval for the
previously-announced one-for-two reverse stock split, the Company
announced that it had delayed the effective date of the reverse
stock split from July 15, 1997 to a date to be determined but
expected to occur in the second quarter of fiscal year 1998,subject to
shareholder approval at the Company's 1997 annual
meeting.
Frankfort First Bancorp, Inc. is the holding company of
First Federal Savings Bank of Frankfort, which conducts its
business through its main office and two branch offices located
in Frankfort, Kentucky.
