-----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, NRb0W563I4JwBoEMi5C4OlssiG7hcyKeplByiFsIL8v68svTKhPNYbT/0fFtRVne BwsT6T4OgpsEIXcVWtTznQ== 0001002124-97-000108.txt : 19970605 0001002124-97-000108.hdr.sgml : 19970605 ACCESSION NUMBER: 0001002124-97-000108 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970602 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19970604 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: PEOPLES HERITAGE FINANCIAL GROUP INC CENTRAL INDEX KEY: 0000829750 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 010137770 STATE OF INCORPORATION: ME FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-16947 FILM NUMBER: 97618875 BUSINESS ADDRESS: STREET 1: ONE PORTLAND SQ STREET 2: P O BOX 9540 CITY: PORTLAND STATE: ME ZIP: 04112 BUSINESS PHONE: 2077618500 MAIL ADDRESS: STREET 1: P O BOX 9540 CITY: PORTLAND STATE: ME ZIP: 04112-9540 8-K 1 FORM 8-K 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 June 2, 1997 (Date of earliest event reported) Peoples Heritage Financial Group, Inc. (Exact name of registrant as specified in its charter) Maine 0-16947 01-0437984 (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) P.O. Box 9540, One Portland Square, Portland, Maine 04112-9540 (Address of principal executive offices) (Zip Code) (207) 761-8500 (Registrant's telephone number, including area code) Not Applicable (Former name, former address and former fiscal year, if changed since last report) ITEM 5. OTHER EVENTS On June 2, 1997 Peoples Heritage Financial Group, Inc. issued the press release which is included as Exhibit 99(a) hereto. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS (a) Not applicable. (b) Not applicable. (c) The following exhibits are included with this Report: Exhibit 99(a) Press Release, dated June 2, 1997 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. PEOPLES HERITAGE FINANCIAL GROUP, INC. By: /S/ PETER J. VERRILL Name: Peter J. Verrill Title: Executive Vice President, Chief Operating Officer, Chief Financial Officer and Treasurer Date: June 4, 1997 EX-99 2 PRESS RELEASE DATED JUNE 2, 1997 EXHIBIT 99(a) PEOPLES HERITAGE FINANCIAL GROUP, INC. NEWS RELEASE For Immediate Release For Further Information, Contact Brian Arsenault, Corporate Communications Officer (207) 761-8517 James J. Kilbride, Chairman and Chief Executive Officer Morse, Payson & Noyes Insurance (207) 775-6000 Peoples Heritage to Enter Insurance Business Purchasing Nation's 60th Largest Insurance Agency Portland, Maine, June 2, 1997 -- Peoples Heritage Financial Group, Inc. (NASDAQ:PHBK) announced today that it has signed a binding letter of intent to purchase Maine's largest insurance agency, Morse, Payson & Noyes Insurance. Morse, Payson & Noyes, with $125 million in policy premiums and 145 employees, will be operated as an independent wholly-owned subsidiary of the Company's lead bank, Peoples Heritage Bank. The insurance firm's management team and sales staff will remain in place. Morse, Payson & Noyes, incorporated in 1910, is one of the 60 largest privately owned insurance agencies in the country and the largest insurance broker in Maine. It operates nine offices in Maine, one in Massachusetts and one in New Jersey. It is the largest personal lines insurance agency in Maine and one of the largest 25 in the country. Its product offerings include individual property and casualty insurance -- home, auto, boat etc. -- as well as commercial property and casualty insurance, medical, life, and disability insurance and long-term care coverage. William J. Ryan, Peoples' Chairman, President and Chief Executive Officer, said: "This purchase is a perfect strategic fit as we strive to become a broader financial services provider in the northeast. The community focus of Morse, Payson & Noyes and its commitment to quality service is compatible with our corporate culture. Their product offerings are ideal for our customer base." James J. Kilbride, Chairman and Chief Executive Officer of Morse, Payson & Noyes, said: "This new strategic alliance will capitalize on the combined strengths of the two companies and allow us to become a stronger competitive force in our market area which is similar to the bank's. We are excited about the potential value associated with linking our insurance products, services, solutions and our experienced, professional staff with the bank's strong distribution system." Both Ryan and Kilbride stressed that they will actively seek opportunities to expand through the acquisition of other insurance agencies. The acquisition of Morse, Payson & Noyes is subject to the execution of a definitive agreement by the parties and the receipt of certain corporate and regulatory approvals, as well as customary conditions. Peoples Heritage Financial Group is a $5.5 billion multi-bank and financial services holding company headquartered in Portland, Maine. In addition to Peoples Heritage Bank, with 66 banking offices throughout Maine, the Company has two other banking subsidiaries: Bank of New Hampshire with 45 offices throughout New Hampshire and Family Bank, which operates 18 banking offices in northeastern Massachusetts and five offices in southern New Hampshire. The Company and its banking subsidiaries also operate through subsidiaries in trust and investment services, mortgage banking and leasing. -----END PRIVACY-ENHANCED MESSAGE-----