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UNITED STATES
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): July 7, 1999
LOCAL FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
(State of Incorporation)
001-13949 65-0424192
(Commission File No.) (I.R.S. Employer Identification No.)
3601 N.W. 63rd Street, Oklahoma City, Oklahoma 73116
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: 405-841-2298
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ITEM 5. OTHER EVENTS.
On July 7, 1999, Local Financial Corporation issued a press release
announcing its intention to move the listing of its common stock from the AMEX,
under the symbol "LO", to the NASDAQ National Market, under the symbol "LFIN",
with trading to begin on July 15, 1999. The press release issued in connection
with this announcement is filed as an exhibit to this report and incorporated
herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibit:
See Exhibit Index following the signature page of this report, which is
incorporated herein by reference.
SIGNATURE
Pursuant to the requirements of the Securities and Exchanges Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
LOCAL FINANCIAL CORPORATION
Date: July 9, 1999 By: /s/ Richard L. Park
-----------------------------------------
Richard L. Park, Chief Financial Officer
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EXHIBIT INDEX
TO
FORM 8-K CURRENT REPORT
DATE OF REPORT: JULY 7, 1999
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CONSECUTIVE
EXHIBIT NO. DESCRIPTION PAGE NO.
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Exhibit 99 Press Release dated July 7, 1999 4
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EXHIBIT 99
July 7, 1999
FOR IMMEDIATE RELEASE
For further information please contact:
Jana Boren Hand, SVP Finance
Local Financial Corporation
(405) 841-2326
LOCAL FINANCIAL CORPORATION ANNOUNCES
MOVE TO NASDAQ
OKLAHOMA CITY - Local Financial Corporation, the holding company for
Local Oklahoma Bank, N.A., announces that it intends to move the listing of its
Common Stock to the NASDAQ National Market ("NASDAQ") and begin trading thereon
effective July 15, 1999. The Company's Common Stock will trade on NASDAQ under
the trading symbol "LFIN". The Company's Common Stock and Senior Notes have been
trading, since April 22, 1997, on the American Stock Exchange ("AMEX") under the
trading symbols "LO" and "LO.A", respectively. The listing announcement comes
approximately two months after the Company announced its conversion from a
federal savings charter to a national bank charter.
In a statement regarding the move, Edward A. Townsend, Chairman and CEO, stated,
"We believe the Company has matured to a point that using the NASDAQ provides a
more efficient market for our stock. This market efficiency will enable us to
move forward with our strategy of becoming a major commercial bank in the State
of Oklahoma." The Company intends to delist its Common Stock from the AMEX after
July 15, 1999, but the Company's Senior Notes will remain on the AMEX under the
trading symbol "LO.A".
Local currently represents the fifth largest deposit franchise in Oklahoma, with
in-market deposits of $1.7 billion, and a 4.98 percent market share, operating
through 50 locations.
END
To the extent that statements in this report relate to the plans, objectives or
future performance of Local Financial Corporation, these statement are
considered to be forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements are based on
management's current economic environment. Actual events and results in future
periods may differ materially from those currently expected due to various risks
and uncertainties. Additional discussion of factors affecting Local Financial's
business and prospects are contained in its periodic filings with the Securities
and Exchange Commission.
