UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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): April 14, 2003
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Peoples-Sidney Financial Corporation
(Exact name of registrant as specified in its charter)
Delaware 0-22223 31-1499862
(State or other jurisdiction of (Commission File (IRS Employer
incorporation or organization) Number) Identification No.)
101 E. Court Street, Sidney, Ohio 45365
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (937) 492-6129
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Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
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99.1 Press Release of Peoples-Sidney Financial Corporation, dated April 14,
2003.
Item 12. Results of Operation and Financial Condition.
On Monday, April 14, 2003, Peoples-Sidney Financial Corporation issued a
press release announcing its third quarter earnings for the fiscal year ending
June 30, 2003. A copy of the press release is attached hereto as Exhibit 99.1.
The information in this Form 8-K and Exhibit 99.1 attached hereto shall not
be deemed filed for purposes of Section 18 of the Securities Exchange Act of
1934, nor shall it be deemed incorporated by reference in any filing under the
Securities Act of 1933, except as shall be expressly set forth by specific
reference in such filing.
SIGNATURE
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.
Dated: April 15, 2003
Peoples-Sidney Financial Corporation
By:/s/ Douglas Stewart
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Douglas Stewart
President and Chief Executive Officer
Exhibit Index
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Exhibit
Number Description of Exhibit
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99.1 Press Release of Peoples-Sidney Financial Corporation, dated
April 14, 2003.
For Release: Monday, April 14, 2003
Contact: Douglas Stewart CEO or
Debra Geuy CFO
PEOPLES-SIDNEY FINANCIAL ANNOUNCES QUARTERLY EARNINGS
AND DECLARES DIVIDEND
Sidney, Ohio NASD-NMS "PSFC"
Douglas Stewart, President and CEO of Peoples-Sidney Financial Corporation,
parent company of Peoples Federal Savings and Loan Association announced today
the Corporation's third quarter earnings for the fiscal year ending June 30,
2003.
Net income for the three months ended March 31, 2003 was $203,000, or $0.15
basic and diluted earnings per share compared to $174,000, or $0.13 basic and
diluted earnings per share for the same three months ended March 31, 2002.
The Corporation earned net income of $620,000, or $0.45 basic and diluted
earnings per share for the nine months ended March 31, 2003. This compares to
$473,000, or $0.34 basic and diluted earnings per share for the same nine month
period a year ago. The increase in net income for the three and nine month
periods is primarily attributed to an increase in net interest income resulting
from the lower interest rate environment in the recent economy. Net interest
income increased $50,000 and $275,000 for the three and nine months ended March
31, 2003 as compared to the same periods a year ago.
On April 10, 2003 the Board of Directors declared a quarterly dividend of $0.12
per share for record holders as of April 30, 2003. The payable date for the
dividend will be May 15, 2003.
Peoples Federal operates offices in Sidney, Anna and Jackson Center, Ohio. The
Corporation's assets totaled $143.3 million with shareholders' equity of $17.3
million as of March 31, 2003.
Press Release
For Release April 14, 2003
PEOPLES-SIDNEY FINANCIAL CORPORATION
Page 2
When used in this press release or other public or shareholder
communications, in filings by the Corporation with the Securities and Exchange
Commission and in oral statements made with the approval of an authorized
executive office, the words or phrases "should result," "will likely result,"
"will enable," "are expected to," "is anticipated," "estimate," "project" or
similar expressions are intended to identify "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995. Such
statements are subject to certain risks and uncertainties, including changes in
economic conditions in the Corporation's market area, changes in policies by
regulatory agencies, fluctuations in interest rates, demand for loans in the
Corporation's market area and competition, that could cause actual results to
differ materially from historical results and those presently anticipated or
projected. The Corporation wishes to caution readers not to place undue reliance
on such forward-looking statements, which speak only as of the date made. The
Corporation wishes to advise readers that the factors listed could affect the
Corporation's financial performance and could cause the Corporation's actual
results for future periods to differ materially from any opinions or statements
expressed with respect to future periods in any current statements.
The Corporation does not undertake-and specifically declines any
obligation-to publicly release the result of any revisions which may be made to
any forward-looking statements to reflect events or circumstances after the date
of such statements or to reflect the occurrence of anticipated or unanticipated
events.