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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) August 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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Item 2. Acquisition or Disposition of Assets.
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Item 3. Bankruptcy or Receivership.
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Item 4. Changes in Registrant's Certifying Accountant.
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Item 5. Other Events.
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The Registrant issued a press release on Tuesday, August 20,
1996 announcing its first quarterly dividend.
Item 6. Resignations of Registrant's Directors.
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Item 7. Exhibits and Financial Statements.
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The following exhibit is filed with this Current Report on
Form 8-K.
Exhibit No. Description
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99 Press Release dated August 20, 1996
announcing the Registrant's first
quarterly dividend.
Item 8. Change in fiscal year
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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: August 20, 1996 By: BERNARD F. LENIHAN
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Bernard F. Lenihan
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 August 20, 1996 announcing
Registrant's first quarterly dividend.
FOR IMMEDIATE RELEASE CONTACT: Augustine F. Jehle
August 20, 1996 (201)795-4000
Anthony S. Cicatiello
(908)382-1066
STATEWIDE FINANCIAL CORP
DECLARES DIVIDEND
JERSEY CITY, N.J.--(August 20, 1996)--Statewide Financial Corp
(NASDAQ: SFIN), the holding company for Statewide Savings Bank S.L.A.,
announced that its Board of Directors Monday 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.
At the same time, the Board of Directors declared a quarterly dividend
on its common stock of ten cents ($0.10) per common share. The
dividend will be payable on September 30, 1996 to shareholders of
record at the close of business on September 10, 1996. This is the
first dividend paid by Statewide Financial Corp since its initial
public offering on September 29, 1995.
In announcing the dividend, Victor M. Richel, Chairman, President and
Chief Executive Officer, said, "The declaration of our dividend policy
reflects our fundamental commitment to maintaining shareholder value.
This policy is the result of our sound financial condition and the
progress we've made in implementing our customer-focused marketing
plan."
Headquartered in Jersey City, N.J., Statewide Savings Bank is a state-
chartered stock savings and loan association that 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).
