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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 Act of 1934
Date of Report (date of earliest event reported): October 1, 1997
FIRST ALLIANCE CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 0-28706 33-0721183
(State or other (Commission File (I.R.S. Employer
jurisdiction of Number) Identification No.)
incorporation)
17305 Von Karman Avenue, Irvine, California 92714-6203
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (714) 224-8500
(Former name or former address, if changed since last report)
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Item 5. Other Events.
See Press Release attached hereto as Exhibit 99.1.
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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.
FIRST ALLIANCE CORPORATION, a
Delaware corporation
By: /s/ Mark K. Mason
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Name: Mark K. Mason
Title: Chief Financial Officer
October 2, 1997
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EXHIBIT 99.1
(BW) (FIRST-ALLIANCE)(FACO) First Alliance Announces Three-for-Two Stock Split
Business Editors/Finance Writers
IRVINE, Calif. -- (BUSINESS WIRE) -- Oct. 1, 1997 -- First Alliance Corp.
(NASDAQ:FACO) today announced that its board of directors has authorized a
three-for-two split of its common stock to be effected in the form of a stock
dividend.
The stock dividend will be distributed on October 31, 1997 to shareholders
of record on October 15, 1997. The stock dividend will increase the number of
shares outstanding from approximately 14.5 million to 21.7 million shares.
Commented Brian Chisick, president and chief executive officer of First
Alliance: "We are very pleased to announce our progress in increasing the
liquidity of First Alliance shares. This three-for-two stock split, combined
with the secondary offering of 3.39 million shares of previously privately held
stock which we completed in September, significantly increases shares available
for trading.
"In addition, Bear, Stearns & Co., Inc. and Montgomery Securities, who
acted as co-managers of the secondary offering, have begun making a market in
the company's Class A Common Stock, providing additional liquidity in First
Alliance shares. These firms also recently initiated analyst coverage on the
company. These combined actions should result in substantially improved
liquidity in First Alliance shares, which benefits all our shareholders."
First Alliance is a consumer finance company with headquarters in Irvine.
The company originates, purchases, sells and services non-conventional
mortgages through 31 retail branch offices in the United States and the United
Kingdom.
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CONTACT: First Alliance Corp.
Mark Mason, 714/224-8403
or
Morgen-Walke Associates Inc.
John Swenson, Doug Sherk, 415/296-7383
Sandra Badurina, Joshua Passman, 212/850-5600
