-----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, B4fdvCX2aWKx8Eal0GsMVnMmXKt0CUbQFtb7MVIFlFmAfD+DCRAWIjgV+CLyb+0Q NNFwRKuEg6vYrWXNbqwV+A== 0000907471-96-000004.txt : 19960522 0000907471-96-000004.hdr.sgml : 19960522 ACCESSION NUMBER: 0000907471-96-000004 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19960520 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19960521 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST MIDWEST FINANCIAL INC CENTRAL INDEX KEY: 0000907471 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 421406262 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22140 FILM NUMBER: 96570237 BUSINESS ADDRESS: STREET 1: FIFTH AT ERIE STREET 2: P O BOX 1307 CITY: STORM LAKE STATE: IA ZIP: 50588 BUSINESS PHONE: 7127324117 MAIL ADDRESS: STREET 1: FIFTH AT ERIE STREET 2: P O BOX 1307 CITY: STORM LAKE STATE: IA ZIP: 50588 8-K 1 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): May 20, 1996 FIRST MIDWEST FINANCIAL, INC. (Exact name of registrant as specified in its charter) Delaware 0-22140 42-1406262 (State or other jurisdiction (Commission File No.) (IRS Employer of incorporation) Identification No.) Fifth at Erie, Storm Lake, Iowa 50588 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (712) 732-4117 N/A (Former name or former address, if changed since last report) Item 5. Other Events On May 20, 1996, the Registrant issued the attached press release. Item 7. Financial Statements and Exhibits (a) Exhibits 1. Press release, dated May 20, 1996. 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. FIRST MIDWEST FINANCIAL, INC. Date: May 20, 1996 By: /s/ Donald J. Winchell Donald J. Winchell, Vice President, Treasurer, Chief Financial Officer and Principal Accounting Officer FOR IMMEDIATE RELEASE: Contact: Kristi L. Frey Telephone: 712-732-4117 FIRST MIDWEST FINANCIAL, INC. OF STORM LAKE, IOWA TO ACQUIRE SECURITY STATE BANK OF STUART, IOWA: (Storm Lake, Iowa - May 20, 1996) James S. Haahr, President and Chief Executive Officer of First Midwest Financial, Inc., Storm Lake, Iowa (NASDAQ: "CASH"), the holding company of First Federal Savings Bank of the Midwest, Storm Lake, Iowa, announced today that First Midwest has entered into a definitive agreement to acquire Central West Bancorporation, the holding company of Security State Bank, Stuart, Iowa, for estimated aggregate consideration valued at approximately $5.3 million or approximately $73.00 per share, to be paid 75% in common stock of First Midwest and 25% in cash. First Midwest expects to issue approximately 173,000 shares of its common stock to the Central West stockholders. After acquiring Central West, First Midwest will hold Security State Bank as a separate subsidiary of First Midwest. Claude F. Havick, President of Security State Bank, will continue to serve as President of Security State Bank after the acquisition. The acquisition, which will be accounted for as a purchase, is subject to approval by the Federal Reserve Board and the Iowa superintendent of banking. The stockholders of Central West have approved the acquisition. After completion of the acquisition, Security State Bank and First Federal will continue to exceed their minimum regulatory capital requirements. At March 31, 1996, First Midwest had assets of approximately $310 million, deposits of approximately $201 million and stockholders' equity of approximately $39 million. First Midwest's savings bank subsidiary, First Federal, serves the Des Moines market through the Des Moines office of its Iowa Savings Bank Division, the northwest Iowa market through its seven offices in northwest Iowa, and the Brookings, South Dakota market through the Brookings offices of its Brookings Federal Division. At March 31, 1996, Central West had assets of approximately $30 million, deposits of approximately $27 million and stockholders' equity of approximately $2.5 million. Security State Bank's offices in Stuart, Casey and Menlo, Iowa will continue to operate after the acquisition. Commenting on the acquisition, Mr. Haahr stated, "We are very pleased to make this announcement, as Central West Bancorporation is the first commercial bank holding company acquired by First Midwest. Located approximately 30 miles west of Des Moines, Security State Bank's offices in Stuart, Casey and Menlo will further enhance our market position in south central Iowa. Additionally, we are delighted that Claude Havick has agreed to continue serving as President of Security State Bank." Mr. Havick commented, "Security State Bank remains committed to serving the financial needs of our market area. The additional resources and financial strengths resulting from this transaction will further support that commitment and enable us to expand customer services." For further information, contact: Kristi L. Frey Director of Investor Relations First Midwest Financial, Inc. Fifth at Erie Storm Lake, Iowa 50588 712-732-4117 Claude F. Havick, President Security State Bank 615 South Division Stuart, Iowa 50250 515-523-2203 (END) -----END PRIVACY-ENHANCED MESSAGE-----