-----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, C/5yz4N+39Vq1rQVkkkDc9tMtnn4gC+27VU+pZZxhnBSrTF/2zGVVl/NU+8DtqeW 9H0UTWV59rGFn4NR5lYfOg== 0000946275-98-000510.txt : 19980818 0000946275-98-000510.hdr.sgml : 19980818 ACCESSION NUMBER: 0000946275-98-000510 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980807 ITEM INFORMATION: FILED AS OF DATE: 19980817 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: REDWOOD FINANCIAL INC /MN/ CENTRAL INDEX KEY: 0000942895 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 411807233 STATE OF INCORPORATION: MN FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-25884 FILM NUMBER: 98693134 BUSINESS ADDRESS: STREET 1: 301 S WASHINGTON ST STREET 2: P O BOX 317 CITY: REDWOOD FALLS STATE: MN ZIP: 56283 BUSINESS PHONE: 5076378730 MAIL ADDRESS: STREET 1: 301 S WASHINGTON ST STREET 2: PO BOX 317 CITY: REDWOOD FALLS STATE: MN ZIP: 56283 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): August 7, 1998 -------------- REDWOOD FINANCIAL, INC. ------------------------------------------------------ (Exact name of Registrant as specified in its Charter) Minnesota 0-25884 41-1807233 - ---------------------------- ------------------------ ------------------- (State or other jurisdiction (Commission File Number) (I.R.S. Employer of incorporation) Identification No.) 301 S. Washington Street, P.O. Box 317, Redwood Falls, Minnesota 56283 - ---------------------------------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (507) 637-8730 -------------- Not Applicable ------------------------------------------------------------- (Former name or former address, if changed since last Report) Item 7. Financial Statements, Pro Forma Financial Information and Exhibits - --------------------------------------------------------------------------- (c) Exhibits: Exhibit 99 - Press Release dated August 7, 1998 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. REDWOOD FINANCIAL, INC. Date: August 11, 1998 By: /s/ Paul W. Pryor ----------------- Paul W. Pryor President EX-99 2 EXHIBIT 99 EXHIBIT 99 Press Release [Redwood Financial, Inc. Letterhead] FOR IMMEDIATE RELEASE Date: August 7, 1998 Contact: Paul W. Pryor (507) 637-8730 Fax: (507) 637-5825 Redwood Financial, Inc. Fourth Quarter Earnings and Authorization of Stock Repurchase Program Redwood Falls, Minnesota--Redwood Financial, Inc. (the "Company"), the parent holding company of HomeTown Bank (previously known as Redwood Falls Federal Savings and Loan Association) has announced net earnings for the fourth fiscal quarter ended June 30, 1998. For the three months ended June 30, 1998, the Company recorded net earnings of $108,415. Basic and diluted earnings per share were $0.13 per share, and $0.13 per share, respectively. For the fiscal year ended June 30, 1998, the Company recorded net earnings of $425,335. Basic and diluted earnings per share were $0.52 per share, and $0.49 per share, respectively. Comparatively, for the three months ended June 30, 1997, the Company recorded net earnings of $126,487. Basic and diluted earnings per share were $0.13 per share, and $0.13 per share, respectively. For the fiscal year ended June 30, 1997, the Company recorded net earnings of $251,500. Basic and diluted earnings per share were $0.27 per share, and $0.26 per share, respectively. The Company further announced its intention to repurchase shares of the Company's common stock. Mr. Paul W. Pryor, President, said the Company has been authorized by the Board of directors to repurchase up to 86,800 shares (approximately 10% of its currently outstanding shares) of common stock. The repurchases are expected to be made in open-market transactions, subject to the availability of stock, market conditions, the trading price of the stock and the Company's financial performance. Repurchased shares will be retired, thereby available in the future for general corporate and other purposes, including the issuance of shares in connection with the exercise of stock options. The Company may terminate this program at any time. At June 30, 1998, the Company reported total consolidated assets and consolidated stockholders' equity of $77,287,000 and $11,938,000 respectively. HomeTown Bank is headquartered in Redwood Falls, Minnesota and operates through its main office in Redwood Falls and its branch office located in Olivia, Minnesota. The Bank's deposits are insured up to maximum legal limits by the Federal Deposit Insurance Corporation (FDIC). The common stock of Redwood Financial, Inc. (trading symbol "REDW") is listed on the OTC Bulletin Board. -----END PRIVACY-ENHANCED MESSAGE-----