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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) February 25, 1997
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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 Tuesday, February 25,
1997 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 Tuesday,
February 25, 1997 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: February 26, 1997 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 Tuesday, February 25, 1997
announcing Registrant's quarterly dividend
FOR IMMEDIATE RELEASE Contact: Augustine F. Jehle
February 25, 1997 201-795-4000
Anthony S. Cicatiello
908-382-1066
STATEWIDE FINANCIAL CORP DECLARES DIVIDEND
Jersey City, N.J. (February 25, 1997) . . . Statewide Financial Corp
(Nasdaq: SFIN), the holding company for Statewide Savings Bank S.L.A.,
announced that its Board of Directors yesterday (Monday, February 24)
approved a quarterly dividend on its common stock of ten cents ($0.10)
per common share. The dividend will be payable on March 31, 1997, to
shareholders of record at the close of business on March 14, 1997.
This is the third consecutive quarterly dividend paid by Statewide
Financial Corp since its initial public offering on September 29,
1995. On August 19 of last year, 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,
and its second on December 27.
In announcing the new dividend, Victor M. Richel, Statewide Financial
Corp's chairman, president and chief executive officer, said, "These
ongoing dividend declarations are an integral part of our capital
management plan. We are confident of our ability to continue this
pattern of growth that will maximize shareholder value and enhance our
competitive position."
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).
