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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): October 13, 1998
Life Financial Corporation
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(Exact name of registrant as specified in its charter)
Delaware 000-22193 33-0743196
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(State or other jurisdiction (Commission File No.) (I.R.S. Employer
of incorporation Identification No.)
Registrant's telephone number, including area code: (909) 637-4000
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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Life Financial Corporation issued a press release on Monday, October 12,
1998 stating that Life Financial Corporation's Board of Directors informed
FirstPlus Financial Group on October 9, 1998 that Life Financial Corporation is
terminating the Agreement and Plan of Merger entered into by the parties on
March 11, 1998. The Board of Directors believed it was in the best interest of
the stockholders to no longer continue with the merger.
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.
LIFE FINANCIAL CORPORATION
By: /s/ Daniel L. Perl
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Daniel L. Perl
President and Chief Executive Officer
DATE: October 13, 1998
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Exhibit Index
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The following Exhibit is filed as part of this report:
Exhibit 99. Press Release dated October 12, 1998
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Exhibit 99
FOR IMMEDIATE RELEASE MONDAY, OCTOBER 12, 1998
8:00 A.M. EST
Life Financial Terminates FirstPlus Merger Agreement
Life Financial Corporation today announced that on Friday, October 9, 1998 it
had advised FirstPlus Financial Group, Inc. that it was terminating the
Agreement and Plan of Merger by and between Life and FirstPlus dated March 11,
1998. Daniel L. Perl, President and Chief Executive Officer of Life Financial
Corporation, commented "Our Board of Directors determined that it was in the
best interest of our stockholders to no longer continue with this merger based
upon certain actions and recent developments concerning FirstPlus."
Life Financial Corporation is traded on the Nasdaq Stock Market under the symbol
"LFCO". Life Financial is the holding company for Life Bank and Life Capital
Markets.
