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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 8-K
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 20, 2000
HIGH COUNTRY BANCORP, INC.
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(Exact Name of Small business Issuer as Specified in its Charter)
Colorado 0-23409 84-1438612
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(State or Other (Commission (I.R.S. Employer
Jurisdicction of File Number) Identification No.)
Incorporation or
Organization)
130 West 2nd Street, Salida, Colorado 81201
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code:(719) 539-2516
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Not Applicable
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
On March 20, 2000 the registrant announced that it is commencing
a stock repurchase program to acquire up to 10% of the Company's
outstanding common stock, or approximately 119,025 shares, over
a twelve month period. For more information, see the Company's
press release, which is attached hereto as Exhibit 99.1 and
is incorporated by reference herein.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
AND EXHIBITS.
Exhibit 99.1 Press Release dated March 20, 2000
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SIGNATURE
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 author-
ized.
High Country Bancorp, Inc.
By: /s/ Larry D. Smith
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Larry D. Smith
President
Date: March 20, 2000
[HIGH COUNTRY BANCORP, INC. LETTERHEAD]
PRESS RELEASE
HIGH COUNTRY BANCORP, INC.
ANNOUNCES STOCK REPURCHASE PROGRAM
Salida, Colorado --- March 20, 2000; High Country Bancorp,
Inc. (NASDAQ Small Cap: HCBC) announced today that it is
commencing a stock repurchase program to acquire up to 119,025
shares of the company's common stock, which represents
approximately 10% of the outstanding common stock. The program
will be dependent upon market conditions and there is no
guarantee as to the exact number of shares to be repurchased by
the Company, or as to the timing of such repurchases.
Larry D. Smith, President of the Company, stated that the Board
of Directors has authorized the repurchase program, which is
expected to be completed within the next twelve months. Mr.
Smith explained that the Board of Directors considers the
Company's common stock to be an attractive investment. It is
expected that a reduction in the amount of the Company's
outstanding stock would have the effect of increasing the
Company's per share earnings and book value. In addition, the
repurchase program is designed to offset the future dilution
incurred in connection with the Company's stock option plan.
According to Mr. Smith, the repurchase generally would be
effected through open market purchases, although he did not
rule out the possibility of unsolicited negotiated transactions
or other types of repurchases.
