SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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)
October 15, 1996
AMTRUST CAPITAL CORP.
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(Exact name of registrant as specified in its charter)
DELAWARE 0-25485 35-1940250
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(State or other jurisdiction (Commission File No.) (IRS Employer ID No.)
of incorporation)
20 W. Fifth Street, Peru, Indiana 46970
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (317) 472-1991
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 October 15, 1996, the Registrant issued the attached press release.
Item 7. Financial Statements and Exhibits
(a) Exhibits
99. Press Release, dated October 15, 1996
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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.
AMTRUST CAPITAL CORP.
Date: October 15, 1996 /s/ Jami L. Cornish
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Jami L. Cornish, Treasurer and
Chief Financial Officer
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EXHIBIT 99
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AMTRUST CAPITAL CORP.
20 West 5th Street, P.O. Box 105, Peru, Indiana, 46970, (317) 472-1991
For Immediate Release For Information contact:
Date: October 15, 1996 Bruce M. Borst, President
(317) 472-1991
AMTRUST CAPITAL CORP.
ANNOUNCES REGULATORY FILING
FOR APPROVAL OF
STOCK REPURCHASE PROGRAM
PERU, INDIANA, October 15, 1996 - AmTrust Capital Corp., the
holding company for AmericanTrust Federal Savings Bank, announced that the
Company has filed a regulatory notice with the Office of Thrift Supervision for
approval to repurchase approximately 5% of its outstanding shares of common
stock in the open market over a twelve-month period. Subject to OTS
no-objection, the shares will be purchased at prevailing market prices from time
to time depending upon market conditions.
Bruce M. Borst, President and Chief Executive Officer of the
Company, indicated that the Board of Directors believes the repurchase
program is in the best interest of the Company and its stockholders in view of
the current price level of the Company's common stock and the strong capital
position of AmericanTrust Federal Savings Bank. Mr. Borst stated that "we
believe that the repurchase of our shares is an attractive investment
opportunity which will benefit the Company and its stockholders. Subject to
receipt of regulatory approval, the repurchased shares will become treasury
shares and will be used for general corporate purposes".
The Company was organized in November 1994 to act as the Holding
Company of the Bank. The Bank, headquartered in Peru, Indiana, primarily
serves the communities located in Howard and Miami Counties, Indiana
though its three offices located in Peru and Kokomo, Indiana.
At September 30, 1996, the Company had consolidated total assets of
$71.9 million and stockholders' equity of $7.2 million. The Company's stock
is traded on the SmallCap System under the symbol "ATSB".
