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UNITED STATES
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) December 24, 1997
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CITIZENS FIRST FINANCIAL CORP.
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(Exact name of registrant as specified in its charter)
Delaware 1-14274 37-1351861
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(State or other Jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification No.)
2101 N. Veterans Parkway, Bloomington, Illinois 61704
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(Address of principal executive offices)
(309) 661-8700
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(Issuer's telephone number, including area code)
Not Applicable
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS.
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Citizens First Financial Corp., the parent company of Citizens Savings
Bank, F.S.B. (the "Bank") announced the completion of the repurchase of 10% of
its outstanding shares of common stock. The repurchase program was approved by
the Office of Thrift Supervision on December 24, 1996.
In addition, the Company announced that the bank completed the sale of an
office in Chenoa, Illinois to the State Bank of Graymont. A press release
announcing both the stock repurchase and the sale of the branch office is
attached as Exhibit 99.1.
Exhibit 99.1 Press Release dated December 24, 1997.
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.
Dated: December 24, 1997 By: /s/ C. William Landefeld
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C. William Landefeld
President and Chief Executive Officer
Dated: December 24, 1997 By: /s/ Dallas G. Smiley
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Dallas G. Smiley
Senior Vice-President and
Chief Financial Officer
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EXHIBIT 99.1 PRESS RELEASE
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CONTACT:
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C. WILLIAM LANDEFELD
PRESIDENT & CHIEF EXECUTIVE OFFICER
CITIZENS FIRST FINANCIAL CORP.
(309) 661-8700
FOR IMMEDIATE RELEASE
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CITIZENS FIRST FINANCIAL CORP.
ANNOUNCES COMPLETION OF STOCK REPURCHASE
AND SALE OF BRANCH OFFICE
Bloomington, Illinois, December 24, 1997 -- Citizens First Financial Corp.
(AMEX- CBK) (the "Company"), the parent company of Citizens Savings Bank, F.S.B.
(the "Bank") announces the completion of the repurchase of 10% of its
outstanding shares of common stock. The repurchase program was approved by the
Office of Thrift Supervision on December 24, 1996. The 281,750 shares were
repurchased at prices ranging from $13.532 to $18.563, with an average price of
$16.04.
On November 29, 1997, the Bank completed the sale of an office in Chenoa,
Illinois to the State Bank of Graymont. The sale of the $6.2 million of deposits
at an 8.0% premium resulted in an after-tax gain of $303,700 and the sale of the
branch facilities resulted in an after-tax gain of $16,300.
The Bank currently has six offices in Central Illinois.
