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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): October 15, 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 October 15, 1999, Local Financial Corporation issued a press release
announcing the acquisition of Guthrie Savings, Inc., which operates as Guthrie
Federal Savings Bank. 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: October 20, 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: OCTOBER 15, 1999
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CONSECUTIVE
EXHIBIT NO. DESCRIPTION PAGE NO.
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Exhibit 99 Press Release dated October 15, 1999 4
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EXHIBIT 99
FOR IMMEDIATE RELEASE October 15, 1999
FOR FURTHER INFORMATION PLEASE CONTACT:
RICHARD L. PARK (CFO)
LOCAL FINANCIAL CORPORATION
(405) 841-2298
LOCAL FINANCIAL CORPORATION COMPLETES
ACQUISITION OF GUTHRIE FEDERAL SAVINGS BANK
OKLAHOMA CITY - Local Financial Corporation today announced the
completion of its acquisition of Guthrie Savings, Inc., which operates Guthrie
Federal Savings Bank. Local Financial Corporation is the parent company of Local
Oklahoma Bank. Under the terms of the transaction, Local Financial paid $22.25
in cash for each share of Guthrie Savings, Inc.
Guthrie Federal Savings Bank is a publicly held thrift with total
assets of $50 million, deposits of $35 million, and shareholders' equity of $7
million.
Local Oklahoma's chairman and chief executive officer, Ed Townsend,
said, "We are very pleased to complete this acquisition, which will bring our
company closer to its goal of becoming a dominant force in Oklahoma's banking
industry. Guthrie Federal Savings Bank, like Local Oklahoma, is a solid
institution with a long history of service to its customers. We are delighted to
welcome the bank's fine staff and many local customers to the Local Oklahoma
family."
Headquartered in Oklahoma City, Local Oklahoma Bank operates 50
branches across the state, with significant presence in Oklahoma City, Tulsa,
and Lawton. Local Oklahoma is the third largest commercial bank headquartered in
the state with assets of $2.3 billion and deposits in excess of $1.7 billion.
Local Oklahoma operates under a national bank charter. Its parent company, Local
Financial Corporation trades on the NASDAQ national market under the symbol
"LFIN".
(End)
