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) July 8, 1996
FIRST COLORADO BANCORP, INC.
(Exact name of Registrant as specified in its Charter)
Colorado 0-27126 84-1320788
(State or Other Jurisdiction (Commission (IRS Employer
Jurisdiction of Incorporation) File Number) Identification No.)
215 South Wadsworth Boulevard, Lakewood, Colorado 80226
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (303) 232-2121
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
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FIRST COLORADO BANCORP, INC.
INFORMATION TO BE INCLUDED IN REPORT
Item 5. Other Events
The Registrant announced that its Board of Directors had adopted a stock
repurchase program and received a letter of non- objection from the Office of
Thrift Supervision with respect to the repurchase program to repurchase up to 5%
of the outstanding shares of the common stock of the registrant during the
period ending December 31, 1996.
A copy of a press release issued July 8, 1996 by the Registrant is
attached hereto as Exhibit 99 and is incorporated herein by reference in its
entirety.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits
(c) Exhibits:
99 Press Release dated July 8, 1996.
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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 COLORADO BANCORP, INC.
Date: July 11, 1996 By: /s/ Malcolm E. Collier, Jr.
Malcolm E. Collier, Jr.
President and Chief Executive
Officer
EXHIBIT 99
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N E W S
(303) 232-2121
For Immediate Release:
July 8, 1996
FIRST COLORADO BANCORP, INC. ANNOUNCES
OTS APPROVAL OF STOCK REPURCHASE PROGRAM
Lakewood, Colorado - Mr. Malcolm E. Collier, Jr., Chairman of First
Colorado Bancorp, Inc., Lakewood, Colorado (the "Company"), the holding company
of First Federal Bank of Colorado (the "Bank"), announced today that the Office
of Thrift Supervision ("OTS") has approved a stock repurchase program
("Program") providing for the repurchase of up to 1,006,712 shares of the
Company's common stock representing up to 5% of the 20,134,256 shares of Common
Stock outstanding. Shares may be purchased in the open market during the period
ending December 31, 1996, subject to the availability of stock, market
conditions, the trading price of the stock and the Company's financial
performance. Repurchased shares will be held as treasury shares and will be
utilized for general corporate purposes, including the issuances of shares in
connection with the exercise of stock options awarded under the Company stock
benefit plans.
The Company is a unitary savings and loan holding company which owns all of
the outstanding stock of the Bank. The Bank is a community-oriented, retail
savings institution offering traditional deposit and mortgage loan products. The
Bank primarily serves the Colorado counties of Denver, Adams, Arapahoe,
Jefferson, Boulder, Douglas, Mesa, Delta and Montrose through a network of 26
offices, providing a full range of retail banking services, with emphasis on
one-to-four family residential mortgages. Deposits at the Bank are insured up to
the maximum permissible amount by the Federal Deposit Insurance Corporation
("FDIC"). The Corporation's common stock is traded on the Nasdaq National Market
under the symbol "FFBA".
For further information, please contact Brian Johnson or Bill Marcoux at
(303) 232-2121.
215 South Wadsworth Boulevard, Lakewood, Colorado 80226
FIRST COLORADO BANCORP, INC.
