-----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, TxsyjwUUicZWVgr1IZ9RfVPdV1gYpuoHNeaazAlExIscb1YR71Cg2Me0D0m23C4Y UjyyVso/qsK6S43hnZTZKQ== 0000928385-97-000692.txt : 19970425 0000928385-97-000692.hdr.sgml : 19970425 ACCESSION NUMBER: 0000928385-97-000692 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970415 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19970424 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: CFSB BANCORP INC CENTRAL INDEX KEY: 0000859083 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 380399619 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-18609 FILM NUMBER: 97586370 BUSINESS ADDRESS: STREET 1: 112 E ALLEGAN ST CITY: LANSING STATE: MI ZIP: 48933 BUSINESS PHONE: 5174834871 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 Date of Report (Date of earliest event reported): April 15, 1997 CFSB Bancorp, Inc. ----------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 0-18609 38-2920051 ----------------- ---------------------- --------------- (State or other (Commission File No.) (I.R.S. Employer jurisdiction of Identification No.) incorporation) 112 East Allegan Street, Lansing, Michigan 48933 ------------------------------------------- ---------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (517)371-2911 ------------- Not Applicable ------------------------------------------------------------- (Former name or former address, if changed since last report) Item 5. Other Events - ----------------------- On April 15, 1997 the registrant's Board of Directors authorized a stock repurchase program pursuant to which the registrant may repurchase up to 235,000 shares of the registrant's common stock, representing approximately 5 percent of the registrant's outstanding common stock, which repurchases are expected to be completed over the next 12 months. The timing of the repurchases and the exact number of shares to be repurchased will be dependent on future market conditions. The Board of Directors approved a similar repurchase program in June 1996 authorizing the Corporation to repurchase 246,000 shares of common stock. This program is now complete. For information regarding the repurchase program, reference is made to the registrant's press release dated April 16, 1997 which is attached hereto as Exhibit 99.1 and incorporated herein by reference. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits - ------------------------------------------------------------------------------ Exhibit 99.1 - - Press Release dated April 16, 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 hereunto duly authorized. CFSB BANCORP, INC. (Registrant) By: /s/ Robert H. Becker ------------------------------------------ Robert H. Becker President and Chief Executive Officer Date: April 16, 1997 EX-99.1 2 PRESS RELEASE DATED 4/16/97 Exhibit 99.1 CONTACT: Robert H. Becker President & CEO 517-374-3588 OR: John W. Abbott Executive Vice President & COO 517-483-4871 NEWS RELEASE FOR IMMEDIATE RELEASE -- APRIL 16, 1997 - --------------------------------------- CFSB BANCORP, INC. ANNOUNCES STOCK REPURCHASE PROGRAM Lansing, Michigan -- CFSB Bancorp, Inc., (NASDAQ-NMS: CFSB) holding company for Community First Bank, announced today it is commencing a stock repurchase program to acquire up to 235,000 shares of the Corporation's common stock, which represents approximately 5 percent of the outstanding common shares. The program will be dependent upon market conditions and there is no guarantee as to the exact number of shares to be repurchased by the Corporation. Robert H. Becker, President and Chief Executive Officer, stated the Board of Directors has authorized the repurchase program, which is expected to be completed within 12 months, subject to market conditions. Mr. Becker explained the Board of Directors considers the Corporation's common stock to be an attractive investment. In addition, the repurchase program is designed to offset the future dilution incurred in connection with the administration of the Corporation's stock option plans and the possible issuance of stock dividends. It is expected a reduction in the amount of the Corporation's outstanding stock would have the effect of increasing the Corporation's per share earnings and represent a continuing benefit to remaining stockholders. According to Mr. Becker, the repurchases generally would be effected through open market purchases, although he did not rule out the possibility of unsolicited negotiated transactions or other types of repurchases. The Board of Directors approved a similar repurchase program in June 1996 authorizing the Corporation to repurchase 246,000 shares of common stock. This program is now complete. CFSB Bancorp, Inc., is the holding company for Community First Bank which specializes in residential mortgage lending and retail banking services. With headquarters in Lansing, Michigan, the Bank serves mid-Michigan from 17 office locations and six additional off-site 24-hour ATM Banking Centers. Total assets of CFSB Bancorp at March 31, 1997, were $834.3 million and stockholders' equity, all tangible, was $63.6 million. ### -----END PRIVACY-ENHANCED MESSAGE-----