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 27, 1998
UNITED TENNESSEE BANKSHARES, INC.
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(Exact name of registrant as specified in charter)
Tennessee 0-23551 62-1710108
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(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
344 Broadway, Newport, Tennessee 37821
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(423)623-6088
ITEM 5. OTHER EVENTS.
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On August 27, 1998, United Tennessee Bankshares, Inc. (the
"Registrant"), announced that it had received the approval of the
Office of Thrift Supervision to repurchase 5.0% of its
outstanding shares of common stock, approximately 72,737 shares.
The Registrant's press release is attached hereto as Exhibit 99.1
and incorporated by reference herein.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS.
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Exhibit 99.1 Press Release dated August 27, 1998.
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 author-
ized.
UNITED TENNESSEE BANKSHARES, INC.
By: /s/ Richard G. Harwood
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Richard G. Harwood
President and Chief Executive
Officer
Date: August 27, 1998