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): MARCH 17, 2000
PERRY COUNTY FINANCIAL CORPORATION
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(Exact name of registrant as specified in its charter)
MISSOURI 0-25088 43-1694505
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(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification
incorporation) No.)
14 NORTH JACKSON, PERRYVILLE, MISSOURI 63775
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (573) 547-4581
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 March 17, 2000, Perry County Financial Corporation (the "Company")
issued the press release attached hereto as Exhibit 99, announcing the Company's
sale of certain investment securities.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
99 Press Release dated March 17, 2000.
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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 hereunto duly authorized.
PERRY COUNTY FINANCIAL CORPORATION
Date: March 29, 2000 By:
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Leo J. Rozier
President and Chief Financial Officer
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EXHIBIT INDEX
Exhibit No. Description
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99 Press Release dated March 17, 2000.
Exhibit 99
March 17, 2000
FOR FURTHER INFORMATION CONTACT:
Leo Rozier, President
Perry County Financial Corporation
(573) 547-4581
PERRY COUNTY FINANCIAL CORPORATION
ANNOUNCES SALE OF INVESTMENT SECURITIES
Perryville, Missouri (Nasdaq SmallCap: PCBC) - In an effort to restructure
its balance sheet to reduce interest rate risk, Perry County Financial announced
it had sold its entire portfolio of zero coupon securities and callable
securities. As of December 31, 1999, these securities had a combined net
unrealized loss of $3.4 million on an after-tax basis. The actual recognized
loss resulting from these securities sales was $3.5 million on an after-tax
basis. Despite the loss, the Bank will continue to be well capitalized.
The decision to sell was based on regulatory concerns regarding the Perry
County Savings interest rate risk exposure. By selling the securities at this
time, with rates having recently declined, the Company believes it was able to
avoid future additional losses to the extent interest rates rise.
The Company is now working on a plan, utilizing an investment advisor, to
re-invest the proceeds in assets designed to maximize earnings while minimizing
interest rate risk.
