<PAGE>
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
September 3, 1996
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED)
CENTER FINANCIAL CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Connecticut 0-26384 06-1260924
(STATE OR OTHER (COMMISSION (IRS EMPLOYER
JURISDICTION FILE NUMBER) IDENTIFICATION NO.)
OF INCORPORATION)
60 North Main Street
Waterbury, Connecticut 06702
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER,
INCLUDING AREA CODE: (203) 578-7000 <PAGE>
ITEM 5. OTHER EVENTS.
On September 5, 1996, Center Financial Corporation, a
Connecticut corporation, issued a press release concerning the
execution of an agreement relating to the disposition of a
subsidiary. A copy of the press release is attached as
Exhibit 1 hereto and is incorporated herein by reference.
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(b) Exhibits
1. Press release, dated September 5, 1996.
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SIGNATURES
Pursuant to the requirements of the Securities Ex-
change Act of 1934, the Company has duly caused this report to
be signed on its behalf by the undersigned thereunto duly au-
thorized.
CENTER FINANCIAL CORPORATION
By: /s/ Joseph Carlson II
Name: Joseph Carlson II
Title: Vice President and
Chief Financial
Officer
Date: September 5, 1996
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EXHIBIT INDEX
EXHIBIT SEQUENTIAL
NO. DESCRIPTION PAGE NUMBER
1. Press release, dated September 5, 1996.
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[LETTERHEAD OF CENTER FINANCIAL CORPORATION]
NEWS RELEASE
For more information: Patricia B. Sweet
Senior Vice President
Corporate Communications
Phone: (203) 578-6296
Fax: (203) 578-6279
CENTER FINANCIAL TO SELL LEASING SUBSIDIARY
Waterbury, CT - September 5, 1996....Center Financial Corpora-
tion, the holding company of Centerbank, today announced an
agreement to sell its equipment leasing subsidiary, Center
Capital Corporation, to Center Capital's management. This sale
is contingent upon the prospective merger between Center Finan-
cial Corporation and First Union Corporation which is antici-
pated to occur on or about October 31, 1996.
In making the announcement, Center Financial president and
chief executive officer Robert J. Narkis commented, "I am very
pleased that an opportunity has arisen to allow the subsidi-
ary's management team, led by CEO Mitchell Weiss, to purchase
Center Capital so that it can operate as an independent company
in Connecticut. We are confident that under Mitch's continuing
leadership Center Capital Corporation should fare very well."
In addition to Center Capital Corporation, Center Financial
Corporation is the holding company for Centerbank, Centerbank
Mortgage Company, and Affiliated Business Credit Corporation.
On June 17, Center Financial Corporation announced a definitive
merger agreement with First Union Corporation of Charlotte,
N.C. the sixth largest United States banking company with as-
sets of $139.9 billion at June 30, 1996 and offices in 12 east-
ern states, stretching from Connecticut to Florida, as well as
in the District of Columbia. Centerbank delivers banking ser-
vices throughout central Connecticut via 44 traditional
branches in 27 communities, seven supermarket branches and al-
ternative delivery systems, such as ATMs and telephone banking.
It is insured by the FDIC. Centerbank Mortgage Company is a
full-service mortgage banking company with a residential ser-
vicing portfolio of $7.8 billion. Affiliated Business Credit
Corporation is a commercial finance company serving the North-
east.
