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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): MARCH 12, 1997
PARK BANCORP, INC.
(Exact name of registrant as specified in its charter)
_____________________________
DELAWARE 0-20867 36-4082530
(State or other jurisdiction of (Commission file number) (I.R.S. employer
incorporation) identification
no.)
2740 WEST 55TH STREET OFFICE 60632
CHICAGO, ILLINOIS (Zip Code)
(Address of principal executive office)
Registrant's telephone number, include area code: (773) 434-6040
NOT APPLICABLE
(Former name or former address, if changed since last year)
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ITEM 5. OTHER EVENTS.
On March 12, 1997, Park Bancorp, Inc. (the "Corporation") announced by
way of a news release that its board of directors has authorized and it has
received approval from the Department of Treasury, Office of Thrift Supervision
to repurchase up to 10% or 270,144 shares of the Corporation's outstanding
common stock over the next six months.
ITEM 7(c). EXHIBITS.
Exhibit 99.1 Press Release dated March 12, 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 thereunto duly authorized.
PARK BANCORP, INC.
Date: March 13, 1997 By: /s/ David A. Remijas
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David A. Remijas
President and Chief
Executive Officer
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INDEX TO EXHIBITS
Exhibit
99.1 Press Release dated March 12, 1997
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Exhibit 99.1
PARK BANCORP, INC.
2740 West 55th Street, Chicago, Illinois 60632
PRESS RELEASE
FOR FURTHER INFORMATION, CONTACT: FOR IMMEDIATE RELEASE
MARCH 12, 1997
David Remijas
President
(630) 969-8900
PARK BANCORP, INC. ANNOUNCES STOCK REPURCHASE PROGRAM
CHICAGO MARCH 12, 1997 - PARK BANCORP, INC. (NASDAQ: PFED), the holding company
for Park Federal Savings Bank, today announced that its board of directors has
authorized and it has received approval from the Department of Treasury, Office
of Thrift Supervision to repurchase up to 10% or 270,144 shares of the
Company's outstanding common stock over the next six months. The Company
currently has 2,701,441 shares of common stock outstanding.
Stock repurchased under the program will be made in open market or
negotiated transactions and will commence immediately. The purchased stock
will be used to fulfill the Company's obligations under its stock-based
incentive plan and for general corporate purposes.
"This repurchase of up to 10% of the Company's outstanding common stock
is an effective use of our excess capital that we believe will have a positive
impact on the value of our shareholders' investment," said David A. Remijas,
Chairman and President.
Headquartered in Chicago, Park Federal Savings Bank is a
community-oriented institution offering a variety of retail financial services
to meet the needs of the communities it serves. The bank currently operates 3
full-service offices, two of which are located on the southwest side of Chicago
and one in suburban Westmont, Illinois.
