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)
June 19, 1998
Monterey Bay Bancorp, Inc.
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(Exact name of Registrant as specified in its Charter)
Delaware 0-24802 77-0381362
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(State or other (Commission File No.) IRS Employer
jurisdiction of (Identification Number)
incorporation
36 Brennan Street, Watsonville, California 95076
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (408) 722-3885
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N/A
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(Former name or former address, if changed since last report)
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Item 5. Other Events
On June 19, 1998, the Registrant issued the press release attached as
Exhibit "99" declaring a 5 for 4 stock split in the form of a stock dividend.
Exhibit
Number Description
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99 Press release, published on June 19, 1998.
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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 thereunto duly authorized.
MONTEREY BAY BANCORP, INC.
Date: June 23, 1998 By: /s/ Marshall G. Delk
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Marshall G. Delk
President
And Chief Operating Officer
[LOGO APPEARS HERE]
MONTEREY BAY
BANCORP, INC.
Press Release
MONTEREY BAY BANCORP, INC.
DECLARES 5 FOR 4 STOCK SPLIT
Watsonville, California, June 19, 1998, Marshall G. Delk, President and
COO of Monterey Bay Bancorp, Inc. (Nasdaq NMS: MBBC), the holding company for
Monterey Bay Bank, announced today that the Company had declared a 5 for 4 stock
split of its common stock payable on July 31, 1998, to stockholders of record
on July 9, 1998. Under the terms of the stock split, effected in the form of a
stock dividend, shareholders will receive a dividend of one additional share for
every four shares held on the record date. Any fractional shares resulting from
the split will be paid in cash. The dividend will be paid in authorized but
unissued shares of the common stock of the Company.
The par value of Monterey Bay Bancorp stock will not be affected by the
split and will remain at $.01 per share. The Company anticipates the number of
issued and outstanding shares of stock after the split will be increased from
3,127,469 to 3,909,336.
Mr. Delk stated that, "the Board of Directors has declared this stock
split to increase the stock's market liquidity for the purpose of enhancing its
appeal to investors."
The Company and its wholly-owned subsidiary are headquartered in
Watsonville, California. The Bank operates through its administration office in
Watsonville, eight (8) full service branches and one real estate loan office in
Salinas, California. The Bank's deposits are insured by the Federal Deposit
Insurance Corporation.
