FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 25, 2000
Oregon Trail Financial Corp.
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(Exact name of registrant as specified in its charter)
Oregon 0-22953 91-1829481
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State or other jurisdiction Commission (I.R.S. Employer
of incorporation File Number Identification No.)
2055 First Street, Baker City, Oregon 97814
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number (including area code): (541) 523-6327
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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On May 25, 2000, the Registrant announced that they had named Berniel L.
Maughan as the new President and Chief Executive Officer of the Registrant
and its wholly-owned subsidiary, Pioneer Bank, A Federal Savings Bank
("Pioneer Bank"), effective immediately.
For further information, reference is made to the Registrant's press
release dated May 25, 2000, which is attached hereto as Exhibit 99 and
incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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Exhibit
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99 Press Release dated May 25, 2000
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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, hereunto duly authorized.
OREGON TRAIL FINANCIAL CORP.
DATE: May 30, 2000 By: /s/ Berniel L. Maughan
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Berniel L. Maughan
President and Chief Executive Officer
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Exhibit 99
Press Release Dated May 25, 2000
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**FOR IMMEDIATE RELEASE**
Contact:
Nadine J. Johnson, Senior Vice President
(541) 523-6327
OREGON TRAIL FINANCIAL CORP.
NAMES NEW PRESIDENT AND CHIEF EXECUTIVE OFFICER
BAKER CITY, Ore., May 25/PRNewswire/ -- Stephen R. Whittemore, Chairman of the
Board of Oregon Trail Financial Corp. (Nasdaq: OTFC - news) and its wholly-
owned subsidiary, Pioneer Bank, A Federal Savings Bank, announced today that
Berniel L. Maughan has been named President and Chief Executive Officer.
Mr. Whittemore commented, "After an extensive search, we chose Mr. Maughan who
has 32 years of experience in commercial and retail banking. Berniel spent
his career in the Pacific Northwest and is familiar with the markets Pioneer
Bank serves. He has extensive commercial, agricultural and consumer lending
experience, all areas of recent lending growth at Pioneer Bank. We are
confident that Berniel will provide seasoned, experienced and dynamic
leadership for the Bank as we look to the challenges of growing our retail
franchise and increasing shareholder value."
Mr. Maughan added, "I am enthusiastic about the new opportunity that Pioneer
Bank has to offer. I have met the staff and they confirm my belief that
people are primary to the success of the Bank. Together we can facilitate the
new direction, change and innovation that are called for in today's markets.
We will continue to emphasize the importance of superior service necessary to
building strong customer relationships. My goal will be to provide leadership
that is responsive to changes in the competitive and volatile business
environment, bringing order and consistency to key dimensions that positively
impact quality and profitability. I look forward to working with the staff
and the Board of Directors and to becoming better acquainted with the
communities we serve."
From 1997 to 1998 Mr. Maughan served as Chief Executive Officer, President and
State Manager of U.S. Bank, Utah. Prior to that he was the Senior Vice
President and Regional Manager of U.S. Bank, Oregon supervising the retail
delivery network in areas of Oregon and Washington. Prior to the West One
Bank and U.S. Bank merger in 1995, he served as Executive Vice President of
West One Bank Oregon, supervising retail activities statewide. Mr. Maughan
served as Senior Vice President and Regional Manager for West One Bank Idaho,
supervising retail and commercial banking activities in the southern Idaho
markets prior to his service with West One Bank Oregon.
The Company is the holding company for Pioneer Bank, which converted from the
mutual to stock form of organization effective October 3, 1997. At March 31,
2000, the Company had consolidated total assets of $371 million and
shareholders' equity of $53 million.
This press release contains certain "forward-looking statements". The Company
desires to take advantage of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 and is including this statement for
the express purpose of availing itself of the protection of such safe
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harbor with respect to all of such forward-looking statements. The Company's
ability to predict results or the effect of future plans or strategies is
inherently uncertain. Factors that could affect actual results include
interest rate trends, the general economic climate in the Company's market
area and the country as a whole, loan delinquency rates, and changes in
federal and state regulations. These factors should be considered in
evaluating the forward-looking statements, and undue reliance should not be
placed on such statements.
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