UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(b) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 29, 1999
RIVER VALLEY BANCORP
(Exact name of registrant as specified in its charter)
INDIANA
(State of other jurisdiction of incorporation)
2-47541 35-1984567
(Commission File Number) (IRS Employer Identification No.)
303 Clifty Drive
Madison, Indiana 47250
(Address of principal executive offices) (Zip Code)
Registrants telephone number, including area code: (812) 265-3421
<PAGE>
Item 5. Other Events.
Pursuant to General Instruction F to Form 8-K, the press release issued
June 29, 1999, concerning the Corporation's stock repurchase program and the
resignation of the Corporation's president is attached hereto as Exhibit 1 and
incorporated by reference herein.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
Exhibit 1 - Press Release dated June 29, 1999.
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.
/s/ James E. Fritz
-------------------------------
James E. Fritz, President and
Chief Executive Officer
Dated: June 30, 1999
<PAGE>
Exhibit 1
River Valley Bancorp
Announces Stock Repurchase Program
and Resignation of President
MADISON, Ind.--(BUSINESS WIRE)--June 29, 1999--River Valley Bancorp
(Nasdaq Small Cap Symbol:RIVR), an Indiana corporation which is the holding
company for River Valley Financial Bank, based in Madison, announced today that
the board of directors has approved the repurchase, from time to time, on the
open market of up to 5 percent of the Corporation's outstanding shares of common
stock, without par value, or 53,767 shares.
Such purchases will be made subject to market conditions in open market
or block transactions. According to James E. Fritz, president of the
Corporation, the board believes that the Corporation's shares are currently
undervalued by the market and that open market purchases will have the potential
effects of enhancing the book value per share and growth in earnings per share
of the Corporation's remaining outstanding shares.
The board of directors also announced today that James E. Fritz intends
to resign as the Corporation's president and chief executive officer and as a
member of the Corporation's board of directors. Fritz, who is resigning for
personal reasons, will remain in his current positions with the company until a
qualified replacement is selected by the Corporation's board of directors. The
board of directors has formed a search committee consisting of all outside
directors which has begun the process of selecting and interviewing potential
candidates. The board also hired a search firm to provide assistance in
selecting a qualified candidate to replace Fritz. The search committee has
already begun interviewing qualified replacement candidates.
River Valley Financial Bank operates five full service offices and one
drive-up facility in Madison and Hanover that offer a variety of deposits and
lending services to retail and commercial customers in Jefferson and surrounding
counties.
CONTACT: River Valley Bancorp
James E. Fritz, 812/273-4949
