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): May 28, 2002
South Street Financial Corp.
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(Exact name of registrant as specified in its charter)
North Carolina 0-21083 56-1973261
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
155 West South Street
Albemarle, North Carolina 28001
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(Address of principal executive offices)
Registrant's telephone number, including area code: (704) 982-9184
N/A
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(Former name or former address, if changed since last report)
Item 5. Other Events and Regulation FD Disclosure.
After reaching mandatory retirement age under the bylaws of South Street
Financial Corp. (the "Registrant"), Carl M. Hill retired from his position as
Chairman of the Board, Chief Executive Officer, and President of the Registrant,
and as Chairman of the Board and Chief Executive Officer of its wholly-owned
savings bank subsidiary, Home Savings Bank of Albemarle, Inc., S.S.B. (the
"Subsidiary"), on May 28, 2002.
J. Banks Garrison, Vice President of South Central Oil Company, has been elected
to the board of directors of the Registrant and the Subsidiary, effective May
28, 2002.
The following persons have also been elected as officers of the Registrant,
effective May 28, 2002:
R. Ronald Swanner Chief Executive Officer, President, and
Chairman of the Board
Cris D. Turner Vice President
David L. Smith Secretary
Christopher F. Cranford Treasurer
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.
SOUTH STREET FINANCIAL CORP.
Date: July 25, 2002 By: /S/ R. Ronald Swanner
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R. Ronald Swanner
Chief Executive Officer
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