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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): May 11, 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 May 11, 1999, Local Financial Corporation issued a press release
announcing the conversion of its operating subsidiary, Local Oklahoma Bank, from
a Federal Savings charter to a National Bank charter. Accordingly, Local
Financial Corporation has received approval to become a national bank holding
company. 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: May 18, 1999 By: /s/Richard L. Park
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Richard L. Park, Chief Financial Officer
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EXHIBIT INDEX
TO
FORM 8-K CURRENT REPORT
DATE OF REPORT: MAY 11, 1999
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CONSECUTIVE
EXHIBIT NO. DESCRIPTION PAGE NO.
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Exhibit 99 Press Release dated May 11, 1999 4
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EXHIBIT 99
FOR IMMEDIATE RELEASE May 11, 1999
For further information please contact:
Richard L. Park, CFO
LOCAL OKLAHOMA BANK
(405) 841-2298
LOCAL FINANCIAL CORPORATION
ANNOUNCES CHARTER CHANGE
Local Financial Corporation, the holding company for Local Oklahoma Bank, one of
Oklahoma's oldest and most trusted financial institutions, announced that
effective Tuesday, May 11, 1999, the Bank's Federal Savings charter will be
converted to a National Bank charter. Last week, the Company received formal
notification from the Comptroller of the Currency of its approval of the Bank's
charter conversion. The Company had previously received Federal Reserve and FDIC
approval. The charter conversion is consistent with the Company's ongoing
strategy of developing a major commercial bank in the state of Oklahoma.
In an effort to meet the expanding needs of Local's customers and to develop
long-term banking relationships throughout the state, Local Oklahoma has been
building the state's most experienced banking team. A National Bank charter has
broader commercial lending powers thus enhancing the Bank's ability to meet all
the needs of its expanding customer base. Local Oklahoma also intends to
continue its strong commitment to meeting the residential and consumer lending
needs of the community.
Edward A. Townsend, Chairman and CEO of Local, stated, "We are very excited
about the charter conversion. The change will be virtually transparent to our
current customers, but it will enable the Bank to broaden its product base in a
manner that allows us to handle every conceivable banking need that might arise
in our state."
