Baybanks Inc – ‘8-K’ for 6/30/95

As of:  Friday, 7/7/95   ·   For:  6/30/95   ·   Accession #:  950135-95-1489   ·   File #:  0-00959

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Baybanks, Inc. Current Report Dated June 30, 1995      3     12K 
 2: EX-99       Press Release                                          2      8K 

8-K   —   Baybanks, Inc. Current Report Dated June 30, 1995
Document Table of Contents

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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):   
June 30, 1995 

BAYBANKS, INC.
(Exact name of registrant as specified in its charter)

                                                                [Download Table]
                                                                            
        Massachusetts                 0-959                   04-2008039    
(State or other jurisdiction      (Commission File          (IRS Employer   
      of incorporation)               Number)            Identification No.)

175 Federal Street, Boston, Massachusetts  02110
(Address of principal executive offices and zip code) 

Registrant's telephone number, including area code: 
(617) 482-1040

CONFORMED COPY

Exhibit Index appears on page 3                                                 

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Item 5.   Other Events.                                                         

Effective after the close of business on June 30, 1995,               
BayBanks, Inc. (the "Company") acquired NFS Financial Corp.                     
("NFS"), a New Hampshire-based savings and loan holding company.                
The acquisition was structured as a merger of BayBank New                     
Hampshire, Inc. ("BBNH"), a wholly owned subsidiary of the                      
Company, with and into NFS pursuant to the terms of an                          
Acquisition Agreement dated December 22, 1994 among NFS, the                    
Company and BBNH (the "Acquisition Agreement").  As a result of                 
the merger, NFS became a wholly-owned subsidiary of the Company                 
and its name was changed to BayBank New Hampshire, Inc.                         
Following the acquisition, the two subsidiary banks of NFS, NFS                 
Savings Bank, FSB of Nashua, N.H. and Plaistow Co-operative                     
Bank, FSB of Plaistow, N.H. were merged into a single federal                   
savings bank under the name BayBank FSB.                                        

The Acquisition Agreement was filed as an exhibit to the              
Company's Current Report on Form 8-K filed January 4, 1995.  In                 
accordance with the terms of the Acquisition Agreement, each                    
share of NFS common stock, par value $.01, issued and                           
outstanding at the time of consummation of the acquisition was                  
converted into the right to receive (a) $20.15 in cash and (b)                  
0.1696 of a share of the Company's common stock, $2.00 par                      
value.  In addition, all options to purchase NFS common stock                   
that were outstanding and unexercised upon consummation of the                  
acquisition were converted into options to purchase shares of                   
the Company's common stock.                                                     

A copy of a press release of the Company issued in connection         
with the consummation of the acquisition is attached hereto as                  
an exhibit and is incorporated herein by reference.                             

Item 7.   Financial Statements, Pro Forma Financial Information and Exhibits.   

(c)  Exhibits:                                                        

See Exhibit Index on Page 3 

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.                         

BAYBANKS, INC.

Date:  July 6, 1995           By:  /s/ Michael W. Vasily                        
                            --------------------------------------
       Michael W. Vasily
                            Executive Vice President and Treasurer

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EXHIBIT INDEX 

                                                                [Download Table]

Exhibit                                                             
  No.         Description                                           
                                                                    
  99       BayBanks, Inc. Press Release Dated June 30, 1995 entitled
           "BayBanks, Inc. Completes Acquisition of NFS             
           Financial Corp."                                         

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Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
Filed on:		7/7/95
		7/6/95		2
For Period End:		6/30/95		1		3			10-Q
		1/4/95		2					8-K
		12/22/94		2					8-K
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