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): July 29, 1996
NS&L Bancorp Inc.
(Exact name of registrant as specified in charter)
Missouri 0-25814 43-1709446
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(State or other jurisdiction (Commission File (I.R.S. Employer
of incorporation) Number) Identification No.)
111 East Main Street, Neosho, Missouri 64850
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (417) 451-0429
Not Applicable
(Former name or former address, if changed since last report)
Item 5. Other Events
On July 29, 1996, the Registrant announced it had received approval from
the OTS to commence a stock repurchase program to acquire up to 10% of its
outstanding common stock, or approximately 84,342 shares, over a twelve month
period. Reference is made to the Registrant's press release dated July 29,
1996, which is attached hereto as Exhibit 99 and incorporated herein by
reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
Exhibit 99 Registrant's Press release Dated July 29, 1996
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.
NS&L BANCORP, INC.
Date: July 29, 1996 By: /s/ C.R. Butler
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C.R. Butler
President and Chief
Executive Officer
EXHIBIT 99
Registrant's Press Release Dated
July 29, 1996
*PRESS RELEASE*
FOR IMMEDIATE RELEASE:
July 30, 1996
CONTACT: C.R. "Rick" Butler
President and Chief Executive Officer
(417) 451-0429
NS&L BANCORP, INC.
TO INITIATE SECOND STOCK REPURCHASE PROGRAM
(Neosho, Missouri) NS&L Bancorp, Inc. Monday announced that the
Corporation has received regulatory approval to commence a stock repurchase
program to acquire up to 10% of the Corporation's outstanding common stock, or
approximately 84,342 shares. The Corporation previously completed its initial
stock purchase program in which it repurchased 5% of the Corporation's
outstanding shares. The current program will commence on July 30, 1996 and is
expected to be completed within twelve months, at which time the Corporation
will reevaluate the program and decide whether to terminate or continue it.
C.R. "Rick" Butler, President and Chief Executive Officer of the
Corporation, explained that the Board of Directors continues to consider the
Corporation's stock an attractive investment relative to certain other
investment alternatives.
According to Mr. Butler, the repurchases generally would be conducted
through open market purchases, although he did not rule out the possibility of
unsolicited negotiated transactions or other types of repurchases. No shares
will be repurchased directly from directors or officers of the Corporation.
Mr. Butler explained that, as with the initial repurchase program, the
price to be paid for the shares purchased in the open market will not exceed
the lowest current independent offer quotation reported on the Nasdaq SmallCap
Market. The number of shares to be purchased in the open market during any
day generally is not to exceed 25% of the average daily trading volume of the
common stock over the preceding four weeks, except for block purchases.
At March 31, 1996, the Corporation reported total consolidated assets of
$59 million and consolidated stockholders' equity of $13.9 million. The
Corporation is a unitary savings and loan holding company whose sole
subsidiary is Neosho Savings and Loan Association, F.A.
The common stock of NS&L Bancorp, Inc. is traded on the Nasdaq SmallCap
Market under the symbol "NSLB."