SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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)
September 22, 1997
AMTRUST CAPITAL CORP.
__________________________________________
(Exact name of registrant as specified in its charter)
DELAWARE 0-25485 35-1940250
_____________________________________________________________________________
(State or other jurisdiction (Commission File No.) (IRS Employer ID No.)
of incorporation)
20 W. Fifth Street, Peru, Indiana 46970
_____________________________________________________________
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (765) 472-1991
N/A
_____________________________________________________________
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events
On September 22, 1997, the Registrant issued the attached two press
releases.
Item 7. Financial Statements and Exhibits
(a) Exhibits
99. Press Releases, dated September 22, 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.
AMTRUST CAPITAL CORP.
Date: September 22, 1997 /s/ Jami L. Cornish
______________________________
Jami L. Cornish, Treasurer and
Chief Financial Officer
<PAGE>
EXHIBIT 99
<PAGE>
AMTRUST CAPITAL CORP.
20 West 5th Street, P.O. Box 105, Peru, Indiana, 46970, (765) 472-1991
AMTRUST NEWS RELEASE
FOR IMMEDIATE RELEASE
Date: September 22, 1997
FOR MORE INFORMATION CONTACT:
Bruce M. Borst, President and Chief Executive Officer
(765) 472-1991
AMTRUST CAPITAL CORP.
DECLARES FOURTH QUARTER EARNINGS
PERU, INDIANA--AmTrust Capital Corp., the parent corporation of
AmericanTrust Federal Savings Bank ("AmericanTrust"), reported earnings of
$87 thousand for the quarter ending June 30, 1997 as compared to $165
thousand for the same quarter ending June 30, 1996. Earnings for the twelve
months ended June 30, 1997 were $134 thousand as compared to $333
thousand for the same period last year. The decrease was primarily the result
of a one time FDIC special assessment to recapitalize the SAIF of $170
thousand, net of tax. Absent the one-time special assessment, net income for
the year would have been $304 thousand. Total assets increased $353
thousand to $72.2 million for the twelve months ended June 30, 1997 as
compared to $71.9 at June 30, 1996. Earnings per share for the three month
period ending June 30, 1997 were $0.18 as compared to $0.31 for the same
period in 1996. Earnings per share for the twelve month period ending June
30, 1997 was $0.27 as compared to $0.63 for the same period in 1996.
AmericanTrust Federal Savings Bank, a subsidiary of AmTrust Capital Corp.,
is based in Peru Indiana with a branch in Kokomo Indiana. The Indiana
Financial Service Corporation ("IFSCO") is a wholly owned subsidiary of
AmericanTrust.
AMTRUST CAPITAL CORP.
20 West 5th Street, P.O. Box 105, Peru, Indiana, 46970, (765) 472-1991
AMTRUST NEWS RELEASE
FOR IMMEDIATE RELEASE
Date: September 22, 1997
FOR MORE INFORMATION CONTACT:
Bruce M. Borst, President and Chief Executive Officer
(765) 472-1991
AMTRUST CAPITAL CORP.
DECLARES BRANCH REAL ESTATE PURCHASE
PERU, INDIANA--AmTrust Capital Corp., the parent corporation of
AmericanTrust Federal Savings Bank ("AmericanTrust"), announced on
September 22, 1997 that it has signed a purchase agreement with Key Bank to
acquire the former Key Bank branch facility located at 2135 North Washington
Street in Kokomo Indiana. The purchase involves real estate only and not
deposits or loans. AmericanTrust intends to close on the transaction within
forty five days and open a full service branch as soon as renovations are
complete. President and CEO Bruce M. Borst stated "We view the purchase
of the branch facility as an important strategic location for our expansion in
Howard County. This will be an excellent opportunity to offer our existing
customers the additional convenience of a new location as well as a chance to
market our banking services to the North side. It will be a perfect compliment
to our Howard and Miami county operations."
AmericanTrust Federal Savings Bank serves communities located in Howard
and Miami Counties, Indiana through its main office, one branch office and a
limited service branch.
AmTrust Capital Corp., had $72.0 million in assets and $7.4 million in
stockholders' equity as of June 30, 1997. The corporation's stock is traded on
the Nasdaq Small-Cap System under the symbol "ATSB".
