-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Pok3cp6TlNF/8rlkeezlpHKeK6TtYSSfW5pHy5tZ1EVgaLps5jU6txKNzLk8U+NW 4d8pEbdRS8be6NkdSA0H5A== 0001000301-98-000022.txt : 19980821 0001000301-98-000022.hdr.sgml : 19980821 ACCESSION NUMBER: 0001000301-98-000022 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980630 ITEM INFORMATION: FILED AS OF DATE: 19980820 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMBANC HOLDING CO INC CENTRAL INDEX KEY: 0001000301 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 141783770 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-27036 FILM NUMBER: 98694799 BUSINESS ADDRESS: STREET 1: 11 DIVISION ST CITY: AMSTERDAM STATE: NY ZIP: 12010 BUSINESS PHONE: 5188427200 MAIL ADDRESS: STREET 1: PO BOX 669 CITY: AMSTERDAM STATE: NY ZIP: 12010 8-K 1 SECOND QUARTER EARNINGS 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 August 19, 1998 AMBANC HOLDING CO., INC. - -------------------------------------------------------------------------------- (Exact name of Registrant as specified in its Charter) Delaware 0-27036 14-1783770 - -------------------------------------------------------------------------------- (State or other jurisdiction (Commission File No.) (IRS Employer of incorporation) Identification No.) 11 Division Street, Amsterdam, New York 12010-4303 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (518) 842-7200 -------------------- N/A - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) Item 5. Other Events - -------------------- On August 19, 1998, the Registrant issued the press release attached hereto as Exhibit 99 announcing its earnings for the second quarter ended June 30, 1998. Item 7. Financial Statements and Exhibits - ----------------------------------------- (c) Exhibits The Exhibits referred to in Item 5 of this Report and listed on the accompanying Exhibit Index are filed as part of this Report and are incorporated herein by reference. 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. AMBANC HOLDING CO., INC. Date: August 19, 1998 By: --------------------------- --------------------------------- Lauren T. Barnett President & Chief Executive Officer Exhibit Number Description - ------- --------------------------------------------------- 99 Press release dated August 19, 1998 EX-99 2 SECOND QUARTER EARNINGS PRESS RELEASE FOR IMMEDIATE RELEASE Contact: Lauren T. Barnett, President and CEO Tel:(518) 842-7200 Fax:(518) 842-7500 Harold A. Baylor, Jr., Vice Pres., CFO, and Treas. Tel:(518) 842-7200 Fax:(518) 842-1688 Ambanc Holding Co., Inc. Announces Earnings for the Three and Six Months Ended June 30, 1998 Amsterdam, N.Y., August 19, 1998 -- Lauren T. Barnett, President and CEO of Ambanc Holding Co., Inc. (Nasdaq National Market under the symbol "AHCI") announced that net income for the three and six months ended June 30, 1998, as compared to the corresponding period in 1997, had declined due to non-core charges against earnings. Mr. Barnett stated that the Company's core income after taxes, which excludes gains/losses on securities transactions and certain other items, had increased for the quarter ended June 30, 1998 from the comparable 1997 quarter to approximately $499,000 from $465,000. He also indicated that core income after taxes for the six months ended June 30, 1998 declined to approximately $945,000 from $1.1 million in 1997. Net income for the three months ended June 30, 1998 was $97,000, or $0.03 per diluted share, and $543,000, or $0.14 per diluted share, for the six months ended June 30, 1998. In the corresponding 1997 periods, the Company had net income of $572,000, or $0.14 per diluted share, and $1.2 million, or $0.30 per diluted share, respectively. Mr. Barnett attributed the earnings declines for the three and six months ended June 30, 1998, compared to 1997, primarily to the items excluded from core income after taxes. During the quarter ended June 30, 1998, the Company took a charge against operating results of $399,000 related to the termination and consulting agreements entered into with the former President and CEO and $159,000 in legal fees incurred by the Company to defend against legal actions initiated by a shareholder. Also contributing to the earnings declines were losses on securities transactions of $112,000 and $105,000 for the quarter and six months ended June 30, 1998, respectively, compared to gains on securities transactions of $178,000 and $177,000 in the corresponding periods of 1997. Ambanc Holding Co., Inc. is a unitary savings and loan holding company. The Company's primary subsidiary, Amsterdam Savings Bank, F.S.B. operates twelve banking offices in Montgomery (4), Saratoga (4), Albany (2), Schenectady (1), and Fulton (1) counties in the Capital Region of upstate New York. - END - -----END PRIVACY-ENHANCED MESSAGE-----