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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): June 10, 1998
SUCCESS BANCSHARES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-23235 36-3497644
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(State or other jurisdiction of (Commission File Number) (I.R.S. Employee
incorporation) Identification No.)
One Marriott Drive, Lincolnshire, Illinois 60069
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (847) 634-4200
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ITEM 5. OTHER EVENTS
Reference is made to the press release of the Registrant, issued on June
10, 1998 which contains information meeting the requirements of this Item 5,
and which is incorporated herein by this reference. A copy of the press release
is attached to this Form 8-K as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
99.1 Press release dated June 10, 1998, relating to the resignation and
replacement of the Registrant's chief financial officer and executive
vice president.
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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 hereunto duly authorized.
SUCCESS BANCSHARES, INC.
Date: June 10, 1998
By: /s/ Saul D. Binder
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Saul D. Binder
President and
Chief Executive Officer
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Exhibit 99.1
SUCCESS BANCSHARES, INC. NAMES NEW CFO
Lincolnshire, IL, June 10, 1998 -- Success Bancshares, Inc. (NASDAQ-SXNB),
the holding company for Success National Bank, today announced the resignation
of Steven A. Covert as Chief Financial Officer and Executive Vice President.
Mr. Covert is leaving the Company to pursue an opportunity at a local financial
institution near his hometown in New York. The Company also announced that Kurt
C. Felde has replaced Mr. Covert as Chief Financial Officer and Senior Vice
President.
Since 1989, Mr. Felde has served as Chief Financial Officer and Senior
Vice President of Regency Savings Bank, a financial institution with 18
locations throughout Illinois and California.
Saul D. Binder, President and Chief Executive Officer of the Company,
expressed regret at Mr. Covert's departure, citing his contributions to the
growth and prosperity of the Company. Mr. Binder also stated that the Company
is very fortunate to welcome Mr. Felde.
During his nine year tenure at Regency Savings Bank, Mr. Felde had overall
senior management responsibility for accounting, corporate administration,
management information systems, investments and operations. Prior to joining
Regency, Mr. Felde served as vice president and controller of First National
Bank of Des Plaines and as vice president-financial reporting of Boulevard
Technical Services, Inc., each of which is a subsidiary of Boulevard Bancorp,
Inc., a publicly-held corporation. Mr. Felde has served as the chief financial
or accounting officer of various financial institutions since 1977.
Success Bancshares, Inc. provides community banking services through ten
locations to individuals and small-to-medium sized businesses primarily in the
north and northwest suburbs of Chicago and the north side of Chicago. The
Company is traded on the NASDAQ National Market System under the symbol "SXNB"
and can be reached at its web page: http://www.successbank.com.
Statements made herein that are forward-looking in nature within the
meaning of the Private Securities Litigation Reform Act of 1995 are subject to
risks and uncertainties that could cause actual results to differ materially.
Such risks and uncertainties include, but are not limited to, those related to
the impact of branch openings on profitability, economic conditions in the
Company's market area, effect of interest rates, competitive products and
pricing and other risks and uncertainties. The Company disclaims any
obligation to publicly announce future events or developments which affect the
forward-looking statements herein.
