8-K: Current report filing
Published on March 2, 1995
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, AS AMENDED
Date of Report(Date of Earliest Event Reported): February 22, 1995
NATIONSBANK CORPORATION
------------------------------------------------------------------
(Exact Name of Registrant as Specified in its Charter)
North Carolina 1-6523 56-0906609
------------------------ ------------- -------------------
(State of Incorporation) (Commission (IRS Employer
File Number) Identification No.)
NationsBank Corporate Center, Charlotte, North Carolina 28255
- ------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
(704) 386-5000
- ------------------------------------------------------------------------
(Registrant's Telephone Number, including Area Code)
ITEM 5. OTHER EVENTS.
On February 22, 1995, NationsBanc Mortgage Corporation ("NationsBanc
Mortgage"), an indirect, wholly-owned subsidiary of NationsBank Corporation,
announced that it had reached a definitive agreement with Source One Mortgage
Services Corporation ("Source One") for NationsBanc Mortgage to purchase a $10
billion residential mortgage servicing portfolio from Source One. NationsBanc
Mortgage will pay approximately $190 million for this Source One portfolio.
The transaction, which is subject to certain regulatory conditions and other
customary closing conditions, is expected to be completed by March 31, 1995.
The press release announcing this transaction is included as Exhibit 99.1
hereto.
On February 23, 1995, NationsBanc Mortgage announced that it had reached a
definitive agreement with KeyCorp and Key Bank of New York for NationsBanc
Mortgage to purchase the residential mortgage servicing business of KeyCorp
Mortgage Inc. The acquired assets will include primarily KeyCorp Mortgage
Inc.'s $25 billion residential mortgage servicing portfolio, for which
NationsBanc Mortgage will pay approximately $350 million, a mortgage servicing
operation employing about 500 people and other servicing-related assets, for
which NationsBanc Mortgage will pay approximately $150 million. The
transaction, which is subject to certain regulatory conditions and other
customary closing conditions, is expected to close by March 31, 1995. The
press release announcing this acquisition is included as Exhibit 99.2 hereto.
-2-
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
The following exhibits are filed herewith:
Exhibit No. Description of Exhibit
----------- ----------------------
99.1 Press Release dated February 22, 1995 with respect
to the joint announcement of NationsBanc Mortgage
Corporation, and Source One Mortgage Services
Corporation that NationsBanc Mortgage will acquire
a $10 billion residential mortgage servicing
portfolio from Source One.
99.2 Press Release dated February 23, 1995 with respect
to the joint announcement of NationsBanc Mortgage
Corporation, and KeyCorp and Key Bank of New York
that NationsBanc Mortgage will acquire the
residential mortgage servicing business of KeyCorp
Mortgage Inc.
-3-
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
NATIONSBANK CORPORATION
By: /s/ Charles M. Berger
-------------------------
Charles M. Berger
Associate General Counsel
Dated: March 2, 1995
-4-
EXHIBIT INDEX
Exhibit No. Description of Exhibit
- ----------- ----------------------
99.1 Press Release dated February 22, 1995 with respect
to the joint announcement of NationsBanc Mortgage
Corporation and Source One Mortgage Services
Corporation that NationsBanc Mortgage will acquire
a $10 billion residential mortgage servicing
portfolio from Source One.
99.2 Press Release dated February 23, 1995 with respect
to the joint announcement of NationsBanc Mortgage
Corporation and KeyCorp and Key Bank of New York
that NationsBanc Mortgage will acquire the
residential mortgage servicing business of KeyCorp
Mortgage Inc.