SECURITIES AND EXCHANGE COMMISSION Washington, DC 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): June 24, 1998 FOUR OAKS FINCORP, INC. (Exact name of registrant as specified in its charter) North Carolina 000-22787 56-2028446 (State or other (Commission File No.) I.R.S. Employer jurisdiction Identification Number of incorporation) 6144 U. S. 301 South, Four Oaks, North Carolina 27524 (Address of principal executive offices) (919) 963-2177 (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report) ITEM 5. OTHER EVENTS. Four Oaks Fincorp, Inc. announced on June 24, 1998, a three-for-two stock split of its common stock, par value $1.00 per share ("Common Stock"), to be effected as a stock dividend (the "Stock Split"). Each shareholder of record of Common Stock on July 6, 1998, is entitled to receive one and one-half (1 1/2) shares of Common Stock for each share of Common Stock held by such shareholder on the record date. The payment date for the Stock Split is July 21, 1998. In accordance with Rule 416(b) promulgated under the Securities Act of 1933, as amended (the "Securities Act"), the number of shares of Common Stock registered for sale under the Securities Act by the following Registration Statements on Forms S-3 and S-8 will be deemed to be increased by the Stock Split to cover the additional shares resulting from the application of the Stock Split to the registered shares of Common Stock remaining unsold under the Registration Statements listed below as of July 21, 1998: Registration Statement on Form S-3 (Reg. No. 333-33527) filed with the Securities and Exchange Commission on August 13, 1997. Registration Statement on Form S-8 (Reg. No. 333-30677) filed with the Securities and Exchange Commission on July 2, 1997 The foregoing Registration Statements, each of which incorporates this current report on Form 8-K, are hereby amended pursuant to Rule 416(b) promulgated under the Securities Act to increase the number of shares of the Common Stock registered thereunder to reflect the effects of the Stock Split. 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. FOUR OAKS FINCORP, INC. By: /s/ NANCY S. WISE ----------------------------------- Dated: July 10, 1998 Nancy S. Wise Senior Vice President, Chief Financial Officer