-----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, JIE8J1uS56LhkagVypc8706qlPphUnc7Lgcx4XDG9LLSENp346mq0QwKjDtzeHr3 taDs7pvm87HaRBFN7QASBQ== 0000943374-00-000072.txt : 20000307 0000943374-00-000072.hdr.sgml : 20000307 ACCESSION NUMBER: 0000943374-00-000072 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20000228 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000303 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALLIANCE BANCORP CENTRAL INDEX KEY: 0000885638 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 363811768 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-20082 FILM NUMBER: 560973 BUSINESS ADDRESS: STREET 1: ONE GRANT SQUARE CITY: HINSDALE STATE: IL ZIP: 60521 BUSINESS PHONE: 7083231780 MAIL ADDRESS: STREET 1: ONE GRANT SQUARE CITY: HINSDALE STATE: IL ZIP: 60522 FORMER COMPANY: FORMER CONFORMED NAME: HINSDALE FINANCIAL CORPORATION DATE OF NAME CHANGE: 19930328 8-K 1 FORM 8-K FOR ALLIANCE BANCORP 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 28, 2000 Alliance Bancorp ----------------- (Exact Name of Registrant as Specified in Charter) Delaware 0-20082 33-3811768 - -------------------- ------------------------------- ---------- (State or Other Jurisdiction (Commission File Number) (I.R.S. Employer of Incorporation) Identification No.) One Grant Square, Hinsdale, Illinois 60521 - -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (630) 323-1776 -------------- Not Applicable ------------------------------------------------------------ (Former Name or Former Address, if Changed Since Last Report) Item 5. Other Events. ------------- On February 28, 2000, Alliance Bancorp (the "Registrant") announced the successful completion of an auction of $100,000,000 of Federal Home Loan Bank ("FHLB") advances. The advances were sold to other member banks of the FHLB of Chicago. Liberty Federal Bank, the Registrant's wholly owned subsidiary, will record a pre-tax gain of $7.2 million on the sale of the advances. This will be reported as an "Extraordinary Item-Gain on Early Extinguishment of Debt, Net of Tax" of $4.7 million. For further information, see the Registrant's press release dated February 28, 2000, which is included as Exhibit 99.1 to this report. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. ------------------------------------------------------------------- The following Exhibits are filed as part of this report: Exhibit 99.1 Press Release of Alliance Bancorp dated February 28, 2000. 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. ALLIANCE BANCORP By: /s/Richard A. Hojnicki DATE: March 3, 2000 -------------------------------- Richard A. Hojnicki Executive Vice President and Chief Financial Officer EXHIBIT INDEX The following Exhibits are filed as part of this report: Exhibit 99.1 Press Release of Alliance Bancorp. EXHIBIT 99.1 PRESS RELEASE OF ALLIANCE BANCORP For: Alliance Bancorp Contact: Richard A. Hojnicki One Grant Square Executive Vice President Hinsdale, Illinois 60521 and Chief Financial Officer NASDAQ/NMS-ABCL (630) 323-1776 ALLIANCE BANCORP REPORTS SUCCESSFUL AUCTION OF ADVANCES Hinsdale, Illinois, February 28, 2000 -- Alliance Bancorp (Nasdaq: ABCL), the holding company for Liberty Federal Bank ("the Bank"), today reported the successful completion of an auction of $100,000,000 of Federal Home Loan Bank ("FHLB") Advances. The advances were sold to other member banks of the Chicago FHLB. Liberty Federal Bank will record a pre-tax gain of $7.2 million on the sale of the advances. This will be reported as an "Extraordinary Item-Gain on Early Extinguishment of Debt, Net of Tax "of $4.7 million. In related transactions, the Bank also sold $99 million of Investment and Mortgage-backed securities, recognizing a loss of $5.5 million. The net of these transactions after costs is a pre-tax gain of $1.4 million, which will be reported for the quarter ended March 31, 2000. "This de-leveraging transaction of approximately 5% of the Bank's assets and liabilities brings a number of benefits to the Company - the most important being the potential for enhanced longer term earnings through re-leveraging", stated Kenne P. Bristol, President and CEO of Alliance Bancorp and Liberty Federal Bank. "At current market prices, the Bank was able to recognize a net transaction gain equal to three years' worth of net interest income this leveraged position provided. Since the Bank is currently originating a significant amount of commercial and multi-family real estate loans, we intend to prudently re-leverage with loan products at increased spreads. The current accounting treatment of "securities available for sale" only reflects market changes in the value of assets, and not the offsetting market value effect on liabilities. Therefore, with this transaction we have also been able to increase equity", added Mr. Bristol. The overall effect of this de-leveraging will increase the Net Income of Alliance Bancorp by approximately $868,000, or 8(cent) per diluted share, for the quarter ended March 31, 2000. The Bank was assisted in this transaction by the investment banking firm of Keefe, Bruyette & Woods, Inc. Statements contained in this news release which are not historical facts are forward-looking statements, as the term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated, due to a number of factors, which include, but are not limited to, factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time. The Company's common stock trades on the Nasdaq National Market tier of the Nasdaq Stock Market under the symbol: ABCL. -end- -----END PRIVACY-ENHANCED MESSAGE-----