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): September 8, 2000
CITIZENS COMMUNITY BANCORP, INC.
(Exact name of registrant as specified in its charter)
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Florida 33-98090 65-0614044
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(State or other jurisdiction Commission File Number (I.R.S. Employer
Of incorporation) Identification No.)
650 East Elkcam Circle
Marco Island, Florida 34145
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(address of principal executive offices)
Registrant's telephone number: (904) 389-1800
Not Applicable
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(Former name or former address, if changed since last report)
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ITEM 5. Other Events
On September 8, 2000, Citizens Community Bancorp, Inc. announced the
repurchase of 100,000 (or approximately 2.9%) of its outstanding shares of
common stock. A copy of the press release is filed with this form.
ITEM 7. Exhibits
99.1 Press release dated September 8, 2000
SIGNATURE
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.
Date: September 8, 2000
Citizens Community Bancorp, Inc.
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(Registrant)
By: /s/ Richard Storm, Jr.
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Richard Storm, Jr.
Chairman & Chief Executive Officer
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Exhibit 99.1
CITIZENS COMMUNITY BANCORP, INC.
ANNOUNCES SHARE REPURCHASE
MARCO ISLAND, FLORIDA - SEPTEMBER 8, 2000 - CITIZENS COMMUNITY BANCORP,
INC. (NASDAQ: CCBI) announced today that CCBI has repurchased 100,000 shares, or
approximately 2.9% of the company's shares outstanding, in a private sale
transaction. The shares were from the Estate of a former Director. "The
repurchase was in keeping with the spirit of CCBI's Stock Repurchase Program
adopted by the Board of Directors earlier this year", said Richard Storm, Jr.,
CCBI's Chairman and Chief Executive Officer. CCBI paid $75/8 per share, or a
total of $762,500, to acquire the shares. According to Mr. Storm: "This purchase
was made in accordance with the company's commitment to enhance the liquidity of
CCBI's common stock, as well as providing an opportunity to enhance shareholder
value." To date, CCBI has repurchased 108,000 shares since adoption of its
Repurchase Program in January of this year.
CCBI's stock is listed on the NASDAQ Small Cap market under the symbol
"CCBI". At June 30, 2000, CCBI had total assets of $140.7 million, deposits of
$113.9 million, loans of $108.0 million and shareholders' equity of $18.3
million. For the first six months of 2000, net earnings were $490,000 or $0.14
per basic and diluted share, compared to $238,000 and $0.07, respectively for
the first half of 1999. Prior to the repurchase of the 100,000 shares, CCBI had
3,487,199 shares outstanding.
Copies of CCBI's press release, current price quotes, stock charts and
other investor information can be found on CCBI's website at
http://www.ccbancorpfl.com. For additional information, please contact Gregory
E. Smith, President & CFO, at (941)389-1800, ext. 280.
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