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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): December 28, 1998
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OHIO STATE FINANCIAL SERVICES, INC.
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(Exact name of registrant as specified in its charter)
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<CAPTION>
OHIO 0-29649 31-1529204
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<S> <C> <C>
(State or other jurisdiction of (Commission File No.) (IRS Employer I.D. No.)
incorporation)
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435 Main Street, Bridgeport, Ohio 43912
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (740) 635-0764
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ITEM 5. OTHER EVENTS.
In December 28, 1998, Ohio State Financial Services, Inc. ("OSFS") paid
a distribution of $2.00 per share to shareholders of OSFS of record at the close
of business on December 21, 1998.
On December 28, 1998, OSFS had 598,460 common shares issued and
outstanding.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) and (b). Not applicable.
(c) Exhibits.
See Index to Exhibits.
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SIGNATURES
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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.
OHIO STATE FINANCIAL SERVICES, INC.
By: /s/ Jon W. Letzkus
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Jon W. Letzkus, President
Date: January 4, 1999
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INDEX TO EXHIBITS
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Exhibit Number Description
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99 News Release of Ohio State Financial Services, Inc.
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PRESS RELEASE
For Immediate Release
Contact: Jon W. Letzkus, President
(740) 635-0764
Bridgeport, Ohio - Ohio State Financial Services, Inc. ("OSFS") announced today
that its Board of Directors has approved the distribution of $2.00 per share to
shareholders of OSFS of record at the close of business on December 21, 1998.
The distribution will be payable on December 28, 1998.
Jon W. Letzkus, President of OSFS, commented," The Board of Directors has
analyzed the Company's capital position and has determined that this unique
opportunity to use some of the excess capital raised in connection with the
conversion stock offering will benefit our shareholders."
The Board expects that a significant portion of the distribution will be a
non-taxable return of capital; however, the exact amount of the distribution
that could be considered non-taxable cannot be determined until after December
31, 1998. OSFS has elected to proceed without a private letter ruling from the
IRS as to the tax consequences of the proposed distribution.
OSFS is the holding company of Bridgeport Savings and Loan Association,
Bridgeport, Ohio, and was formed in connection with the conversion of Bridgeport
from mutual to stock form which was completed on September 26, 1997.
Information regarding the common shares of OSFS is reported on the OTC Bulletin
Board under the symbol "OSFS."
