-----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, Rt+m08zKRDUExdzae5uFflK2ATeUyvp1V2SlMCbV4aGEG6mb+nfb+4BYV74cD05t /jEjMcYpPiah/2dh2HihHQ== 0000914317-99-000080.txt : 19990215 0000914317-99-000080.hdr.sgml : 19990215 ACCESSION NUMBER: 0000914317-99-000080 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990201 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990212 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SUSSEX BANCORP CENTRAL INDEX KEY: 0001028954 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 223475473 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-12569 FILM NUMBER: 99535034 BUSINESS ADDRESS: STREET 1: 399 RTE 23 STREET 2: 9 CITY: FRANKLIN STATE: NJ ZIP: 07416 BUSINESS PHONE: 9738272914 MAIL ADDRESS: STREET 1: 399 RTE 23 CITY: FRANKLIN STATE: NJ ZIP: 07416 8-K 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 Date of Report (Date of earliest event reported) February 1, 1999 SUSSEX BANCORP -------------- (Exact name of registrant as specified in its charter) New Jersey 0-29030 22-3475473 - ---------------------------- ------------ ------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 399 Route 23, Franklin, New Jersey 07416 ---------------------------------- ----- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (973) 827-2914 -------------- Item 5. Other Events The Registrant issued a press release announcing its 1998 net income increased by 3% from $708,000 in 1997 to $710,000 in 1998. The details announced in the press release are incorporated by reference as if set forth at length herein. Item 7. Exhibits. The following exhibit is filed with this Current Report on Form 8-K. Exhibit No. Description ----------- ----------- 99 Press Release announcing an increase in net income. Page 2 of 5 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, Sussex Bancorp has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. SUSSEX BANCORP -------------- (Registrant) Dated: February 3, 1999 By: /s/ CANDACE A. LEATHAM ---------------------- CANDACE A. LEATHAM Chief Financial Officer Page 3 of 5 EXHIBIT INDEX CURRENT REPORT ON FORM 8-K Exhibit No. Description Page No. ----------- ----------- -------- 99 Press Release announcing an increase in net income 5 Page 4 of 5 EX-99 2 EXHIBIT 99 Press Release FOR IMMEDIATE RELEASE SUSSEX BANCORP REPORTS HIGHER EARNINGS CONTACT: Donald L. Kovach (973)-827-2914 President SYMBOL: SBB Franklin, NJ, February 1, 1999-Sussex Bancorp=s net income increased by 3% to $710,000 for 1998 from $708,000 in 1997. Basic earning per share for the two periods were $.50 and $.51, respectively. Diluted earnings per share were $.50 in 1998 and $.51 in 1997. The change in per share earnings reflects an increased number of average shares outstanding during 1998, as the Company's average shares outstanding increased to 1,410,535 from 1,377,934. The increase was attributable to issuance of new shares through the Company=s dividend reinvestment plans and exercises of stock options. For the year ended December 31, 1998 Sussex Bancorp had total interest income of $8.3 million, compared to interest income of $7.4 million for 1997. Total interest expense for year ended December 31, 1998 was $3.8 million compared to interest expense of $3.1 million in 1997. During 1998, Sussex Bancorp's non-performing loans decreased by $341,000 or 47% from 1997. The Company's ratio of non-performing loans to total loans declined to .56% at December 31, 1998 from 1.07% at December 31, 1997. At December 31, 1998, Sussex Bancorp had total assets of $137.5 million compared to total assets at December 31, 1997 of $114.3 million. Total deposits increased to 127.7 million at December 31, 1998 from $104.9 million at December 31, 1997. Sussex operates through the Sussex County State Bank, which has seven branches in Northern New Jersey. In addition, the Bank has recently formed the Sussex Bancorp Mortgage Company, Inc. The Mortgage Company will offer a wide variety of mortgage products. Page 5 of 5 -----END PRIVACY-ENHANCED MESSAGE-----