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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) November 20, 1996
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Statewide Financial Corp.
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(Exact name of registrant as specified in its charter)
New Jersey 0-26546 22-3397900
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(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) Identification No.)
70 Sip Avenue, Jersey City, New Jersey 07306
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (201) 795-4000
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Item 1. Changes in Control of Registrant.
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Not Applicable.
Item 2. Acquisition or Disposition of Assets.
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Not Applicable.
Item 3. Bankruptcy or Receivership.
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Not Applicable.
Item 4. Changes in Registrant's Certifying Accountant.
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Not Applicable.
Item 5. Other Events.
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Registrant issued a press release on Wednesday,
November 20, 1996 announcing Registrant's quarterly
dividend.
Item 6. Resignations of Registrant's Directors.
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Not Applicable.
Item 7. Exhibits and Financial Statements.
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Exhibit No. Description
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99 Press Release dated Wednesday,
November 20, 1996 announcing
Registrant's quarterly dividend.
Item 8. Change in fiscal year
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Not Applicable.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, Statewide Financial Corp. has duly caused this report to be
signed on its behalf by the undersigned thereunto duly authorized.
STATEWIDE FINANCIAL CORP.
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(Registrant)
Dated: November 21, 1996 By: Bernard F. Lenihan
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Senior Vice President and
Chief Financial Officer
EXHIBIT INDEX
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CURRENT REPORT ON FORM 8-K
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Exhibit No. Description
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99 Press Release dated Wednesday, November 20, 1996
announcing Registrant's quarterly dividend.
FOR IMMEDIATE RELEASE CONTACT: Augustine F. Jehle
November 20, 1996 201-795-4000
Anthony S.Cicatiello
908-382-1066
STATEWIDE FINANCIAL CORP DECLARES DIVIDEND
Jersey City, N.J. (November 20, 1996) . . . Statewide Financial Corp
(Nasdaq:SFIN), the holding company for Statewide Savings Bank S.L.A.,
announced that its Board of Directors approved a quarterly dividend on
its common stock of ten cents ($0.10) per common share. The dividend
will be payable on December 27, 1996, to shareholders of record at the
close of business on December 9, 1996.
This is the second dividend paid by Statewide Financial Corp since its
initial public offering on September 29, 1995. On August 19, 1996 the
Board of Directors adopted a dividend policy to pay an annual dividend
of $0.40 per common share, payable in equal quarterly installments,
should the earnings of the Company warrant. The Company paid its
first dividend on September 30.
In announcing the dividend, Victor M. Richel, Chairman, President and
Chief Executive Officer, said, "This second dividend declaration
highlights our continuing commitment to maintaining shareholder value.
Earlier in the year, Statewide completed a 5 percent stock repurchase
program, and earlier this month the Board adopted an additional
buyback program under which, subject to regulatory approval, the
Company will buy back up to 10 percent of its stock."
Headquartered in Jersey City, N.J., Statewide Savings Bank conducts
business from 16 locations in Hudson, Union, Bergen and Passaic
counties. Statewide's deposits are insured by the Savings Association
Insurance Fund (SAIF) of the Federal Deposit Insurance Corporation
(FDIC).
