1
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
January 15, 1997
- ------------------------------------------------------------------------------
(Date of earliest event reported)
First Financial Corporation of Western Maryland
- ------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 0-19837 52-1700036
- ------------------------------------------------------------------------------
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
118 Baltimore Street, Cumberland, Maryland 21502
- ------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
(301) 724-3363
- ------------------------------------------------------------------------------
(Registrant's telephone number, including area code)
Not Applicable
- ------------------------------------------------------------------------------
(Former name, former address and former fiscal year, if changed since last
report)
Page 1 of 6 Pages
Exhibit Index appears on Page 2
2
Item 5. Other Events
On January 15, 1997, First Financial Corporation of Western
Maryland (the "Corporation") announced that the Corporation had consolidated
net income for the quarter ended December 31, 1996 of $1.2 million or $0.55 per
share. Net income for the quarter increased $374,000 or 46.1% as compared to
net income of $811,000 or $0.37 per share for the quarter ended December 31,
1995. For the six month period ended December 31, 1996, the Corporation
realized consolidated net income of $2.4 million or $1.11 per share before the
one-time special Savings Association Insurance Fund ("SAIF") assessment
incurred during the first quarter of the fiscal year, as compared to net income
of $1.6 million or $0.74 per share for the six month period ended December 31,
1995. Net income for the six months ended December 31, 1996 after the SAIF
assessment was $1.2 million or $0.57 per share. A copy of the press release,
dated January 15, 1997, is attached hereto as Exhibit 99 and is incorporated
herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits
(a) Financial Statements of Business Acquired
Not applicable.
(b) Pro Forma Financial Information
Not applicable.
(c) Exhibits
(99) Press release dated January 15, 1997.
3
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.
FIRST FINANCIAL CORPORATION
OF WESTERN MARYLAND
Date: January 21, 1997 By: /s/William C. Marsh
-----------------------------
William C. Marsh
Executive Vice President and
Chief Financial Officer