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): September 17, 1996
INDUSTRIAL BANCORP, INC.
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(Exact name of registrant as specified in its charter)
OHIO
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(State or other jurisdiction of incorporation)
0-26248 31-1800830
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(Commission File No.) (IRS Employer I.D. No.)
211 North Sandusky Street, Bellevue, Ohio 44811
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(Address of principal executive offices) (Zip Code)
(419) 483-3375
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(Registrant's telephone number, including area code)
Page 1 of 3
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Item 1. Changes in Control of Registrant.
Not applicable.
Item 2. Acquisition or Disposition of Assets.
Not applicable.
Item 3. Bankruptcy or Receivership.
Not applicable.
Item 4. Changes in Registrant's Certifying Accountant.
Not applicable.
Item 5. Other Events.
On September 17, 1996, the Board of Directors of Industrial Bancorp, Inc.
(the "Registrant") declared a quarterly cash dividend of $.10 per share. The
quarterly dividend is to be paid November 6, 1996, to all shareholders of
record as of October 23, 1996. The Board of Directors also announced the
Registrant's plan to repurchase up to 5% of it's outstanding common shares
over the next 12 months, subject to approval by the Office of Thrift
Supervision.
Item 6. Resignations of Registrant's Directors.
Not applicable.
Item 7. Financial Statements and Exhibits.
Exhibit 99.1 Press Release
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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.
INDUSTRIAL BANCORP, INC.
By: David M. Windau, President
Date: September 20, 1996
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REGULAR QUARTERLY DIVIDEND INCREASED
AND
5% BUYBACK PLAN ANNOUNCED
On September 17, 1996, the Board of Directors of Industrial Bancorp, Inc.
(Nasdaq: INBI) increased the regular quarterly cash dividend from $.075 per
share to $.10 per share. The quarterly dividend is to be paid November 6, 1996
to all shareholders of record as of October 23, 1996.
Industrial Bancorp, Inc. also announced its intent to "buy back" 5% of
its outstanding shares. The Company's plan, which is subject to final approval
of the Office of Thrift Supervision, calls for the purchase of 277,725
treasury shares during the next twelve months.
According to President and Chief Executive Officer David M. Windau, "The
33% increase in dividend is in response to the continued strong earnings of
the Company. The plan to buy back 5% of the Company's outstanding shares shows
our continued efforts to strengthen return on equity. Both decisions are an
indication of our ongoing commitment to maximizing return to our
shareholders."
Industrial Bancorp, Inc. is the holding company for Industrial Savings
and Loan Association, headquartered in Bellevue, Ohio. At June 30, 1996,
Industrial Bancorp reported consolidated assets of $314 million and
shareholders' equity of $61 million.
