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
April 30, 2001
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(Date of earliest event reported)
Progress Financial Corporation
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(Exact name of registrant as specified in its charter)
Delaware 0-14815 25-2413363
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(State of other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identified No.)
4 Sentry Parkway, Suite 200, Blue Bell, Pennsylvania 19422-0764
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(Address of principal executive offices) (Zip Code)
(610)-825-8800
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name,former address and former fiscal year,if changed since last report)
Exhibit Index appears on page 4
Item 5. Other Events
On April 30, 2001, Progress Financial Corporation declared quarterly
cash dividend of $.06 per share to shareholders of record on April 30, 2001, to
be paid on May 11, 2001. For further information, see the press release attached
as Exhibit 99(a) and incorporated herein by reference.
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 thereunto duly authorized.
PROGRESS FINANCIAL CORPORATION
Dated: April 30, 2001 By: /s/ Michael B. High
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Michael B. High
Executive Vice President and
Chief Financial Officer
EXHIBIT INDEX
Exhibit Number Description
99(a) Press Release on dividend declaration issued on
April 30, 2001.
Exhibit 99(a)
Press Release on dividend declaration
issued on April 30, 2001
Exhibit 99(a)
NEWS RELEASE
Contact: Michael B. High, CFO/Executive Vice President
(610) 941-4804
Dorothy Jaworski, Director of Investor Relations
(484) 322-4822
For immediate release:
Progress Financial Corporation Declares Cash Dividend
Blue Bell, PA, April 30, 2001- The Board of Directors of Progress
Financial Corporation (the "Company" - Nasdaq: PFNC) has declared its regular
quarterly cash dividend on its common stock, according to W. Kirk Wycoff,
Chairman, President and Chief Executive Officer. The cash dividend of $.06 per
share will be paid on May 11, 2001 to shareholders of record on April 30, 2001.
Progress Financial Corporation is a unitary thrift holding company
headquartered in Blue Bell, Pennsylvania. The business of the Company consists
primarily of the operation of Progress Bank, which serves businesses and
consumers through eighteen full service offices. The Company also offers a
diversified array of financial services including equipment leasing through
Progress Leasing Company, with offices in Blue Bell, Pennsylvania, and financial
planning services and investments through Progress Financial Resources, Inc.,
headquartered in Philadelphia, Pennsylvania; and asset based lending through
Progress Business Credit. In addition, the Company also conducts commercial
mortgage banking and brokerage services through Progress Realty Advisors, Inc.
with locations in Blue Bell, Pennsylvania, and Woodbridge, New Jersey. The
Company also receives fees for construction and development activities through
Progress Development Corporation; fees for venture capital management services
provided by Progress Capital Management, Inc.; and financial and operational
management consulting services for commercial clients through KMR Management,
Inc. located in Willow Grove, Pennsylvania. The Company's common stock is traded
on The Nasdaq Stock MarketSM under the Symbol "PFNC".
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