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)
November 24, 1999
PEEKSKILL FINANCIAL CORPORATION
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(Exact name of Registrant as specified in its Charter)
Delaware 0-27178 13-3858258
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(State or other (Commission File No.) (IRS Employer
jurisdiction of Identification
incorporation) Number)
1019 Park Street, Peekskill, New York 10566
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (914) 737-2777
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N/A
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(Former name or former address, if changed since last report)
Item 5. Other Events
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On November 24, 1999, the Registrant issued the attached press release
announcing its first quarter results.
Item 7. Financial Statements and Exhibits
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(a) Exhibits
99.1 Press release, dated November 24, 1999.
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.
PEEKSKILL FINANCIAL CORPORATION
Date: November 29, 1999 By: /s/ Eldorus Maynard
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Eldorus Maynard, Chairman and
Chief Executive Officer
EXHIBIT 99.1
November 24, 1999
FOR INFORMATION CONTACT FOR IMMEDIATE RELEASE
William LaCalamito, President
(914) 737-2777
PEEKSKILL FINANCIAL CORPORATION ANNOUNCES COMPLETION OF
100,000 SHARE REPURCHASE PROGRAM AND ANNOUNCES THE
COMMENCEMENT OF ADDITIONAL 100,000 SHARE REPURCHASE PROGRAM
Peekskill, New York -- Peekskill Financial Corporation (NASDAQ:
"PEEK"), the holding company for First Federal Savings Bank (the "Bank"),
announced that the Company has completed its repurchase of 100,000 of its
outstanding shares of common stock at an average price per share of $13.15. The
Company also announced it intends to repurchase up to 100,000 of its outstanding
shares of common stock in the open market over the next twelve months. These
shares will be purchased at prevailing market prices from time to time depending
upon market conditions.
Eldorus Maynard, Chairman and Chief Executive Officer of the Company,
indicated that the Board of Directors approved the repurchase program in view of
the current price level of the Company's common stock and the strong capital
position of the Company's subsidiary, First Federal Savings Bank. Mr. Maynard
stated that, "We believe the repurchase of our shares continues to be an
attractive investment opportunity which will benefit the Company and its
stockholders."
The Company was organized in 1995 to act as the holding company of the
Bank. The Bank, with headquarters in Peekskill, New York, primarily serves the
communities in its market area through its three full service branches.
At September 30, 1999, the Company had consolidated total assets of
$207.2 million and stockholders' equity of $26.6 million. The Company's stock is
traded on the NASDAQ National Market System under the symbol "PEEK."
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