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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: APRIL 11, 2000
OAK HILL FINANCIAL, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Ohio 0-26876 31-1010517
- --------------- ------------------- ---------------
(STATE OR OTHER (COMMISSION FILE NO.) (IRS EMPLOYER
JURISDICTION OF IDENTIFICATION
INCORPORATION OR NUMBER)
ORGANIZATION)
14621 State Route 93
Jackson, Ohio 44640
(740) 286-3283
(ADDRESS, INCLUDING ZIP CODE, AND TELEPHONE NUMBER
INCLUDING AREA CODE OF REGISTRANT'S
PRINCIPAL EXECUTIVE OFFICES)
Not Applicable
(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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ITEM 5. OTHER EVENTS.
On April 11, 2000, Oak Hill Financial, Inc., ("Oak Hill") issued a news
release announcing that it will repurchase 320,000, or approximately six
percent, of Oak Hill's outstanding shares of common stock through December 31,
2000. The information contained in the news release, which is attached as
Exhibit 99 to this Form 8-K, is incorporated herein by this reference.
The information contained or incorporated by reference in this Current
Report on Form 8-K may contain forward-looking statements, including certain
plans, expectations, goals, and projections, which are subject to numerous
assumptions, risks, and uncertainties. Actual results could differ materially
from those contained or implied by such statements for a variety of factors,
including: changes in economic conditions; movements in interest rates;
competitive pressures on product pricing and services; success and timing of
business strategies; the nature and extent of legislative and regulatory actions
and reforms; and extended disruption of vital infrastructure.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
Exhibit No. Description
99 Press release of Oak Hill Financial, Inc., dated
April 11, 2000.
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 hereunto duly authorized.
OAK HILL FINANCIAL, INC.
Date: April 13, 2000 By: /s/ H. Tim Bichsel
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H. Tim Bichsel, Secretary
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EXHIBIT INDEX
Exhibit No. Description
99 Press release of Oak Hill Financial, Inc., dated
April 11, 2000.
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Exhibit 99
FOR IMMEDIATE RELEASE
Tuesday, April 11, 2000
Contact: David G. Ratz, Chief Administrative Officer
(740) 286-3283
OAK HILL FINANCIAL ANNOUNCES SHARE REPURCHASE PROGRAM
JACKSON, OHIO -- Oak Hill Financial, Inc. (Nasdaq NMS: OAKF) today announced its
intention to repurchase up to 320,000 shares, or approximately 6 percent, of its
outstanding common stock. The company's board of directors approved the buyback
program in light of current market conditions and the capital position of the
company.
"We believe the repurchase of our shares is an excellent investment that will
enhance shareholder value," said John D. Kidd, President and CEO of Oak Hill
Financial. "The repurchase program should have a positive impact on our earnings
per share and return on equity."
The repurchase program will run through December 31, 2000. Under the program,
the company's shares will be repurchased from time to time through open market
or privately negotiated transactions. The repurchased shares will become
treasury shares that will be used for general corporate purposes, including
mitigating the potentially dilutive effect of the company's stock option plan.
Oak Hill Financial is a community bank holding company headquartered in Jackson,
Ohio. Its subsidiaries, Oak Hill Banks, Towne Bank, and Action Finance Company,
operate 22 full-service banking offices, four bank loan production offices, and
four consumer finance offices in 16 counties across southern Ohio.
At March 31, 2000, Oak Hill Financial had $612.8 million in assets and 5.3
million shares outstanding.
