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As filed with the Securities and Exchange Commission on June 11, 1999
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13E-4
ISSUER TENDER OFFER STATEMENT
(Pursuant to Section 13(e)(1) of the Securities Exchange Act of 1934)
AMENDMENT NO. 1
EFC BANCORP, INC.
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(NAME OF ISSUER)
EFC BANCORP, INC.
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(NAME OF PERSON(S) FILING STATEMENT)
Common Stock, $0.01 Par Value Per Share
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(TITLE OF CLASS OF SECURITIES)
268423 10 0
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(CUSIP NUMBER OF CLASS OF SECURITIES)
John J. Brittain
Chairman of the Board
EFC Bancorp, Inc.
1695 Larkin Avenue
Elgin, Illinois 60123
(847) 741-3900
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(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED
TO RECEIVE NOTICES AND COMMUNICATIONS ON BEHALF OF
THE PERSON(S) FILING STATEMENT)
Copies to:
Lori M. Beresford, Esq.
MULDOON, MURPHY & FAUCETTE LLP
5101 Wisconsin Avenue, N.W.
Washington, D.C. 20016
(202) 362-0840
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(AGENT FOR SERVICE OF PROCESS)
April 22, 1999
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(DATE TENDER OFFER FIRST PUBLISHED, SENT OR GIVEN TO SECURITY HOLDERS)
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CALCULATION OF FILING FEE
Transaction Valuation (1) Amount of Filing Fee
$21,350,796 $5,936
(1) Calculated solely for the purpose of determining the filing fee, based
upon the purchase of 1,779,233 shares at the maximum tender offer price of
$12.00 per share.
[X] Check box if any of the fee is offset as provided by Rule 0-11(a)(2) and
identify the filing with which the offsetting fee was previously paid.
Identify the previous filing by registration statement number, or the Form
or Schedule and the date of its filing.
Amount Previously Paid: $5,936 Filing Party: EFC Bancorp, Inc.
Form or Registration No.: 13E-4 Date Filed: April 22, 1999
This Amendment No. 1 amends the Issuer's Tender Offer Statement on Schedule
13E-4, dated April 22, 1999, filed by EFC Bancorp, Inc. (the "Company") relating
to the Company's offer to purchase up to 1,779,233 shares of its common stock
within a price range of $10.00 per share to $12.00 per share. On June 11, 1999,
the Company issued a press release announcing that the offer terminated on
Tuesday, June 1, 1999, at 5:00 p.m., Central Time, and that, as a result of the
Offer, the Company will purchase 1,709,544 shares at a price of $12.00 per
share. A copy of the press release is attached hereto as Exhibit 99.(a)(9),
and is incoporated herein by reference.
ITEM 9. MATERIAL TO BE FILED AS EXHIBITS.
(a)(9) Text of Press Release issued by the Company, dated June 11, 1999.
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SIGNATURE
After due inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this Statement is true, complete and correct.
Date: June 11, 1999 EFC BANCORP, INC.
By: /s/ John J. Brittain
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John J. Brittain
Chairman of the Board
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PRESS RELEASE
EFC BANCORP, INC.
ANNOUNCES AMENDED FINAL RESULTS OF
TENDER OFFER
CONTACT: BARRETT J. O'CONNOR JAMES J. KOVAC
PRESIDENT AND CHIEF EXECUTIVE OFFICER SR. VICE PRESIDENT/CFO
EFC BANCORP, INC. EFC BANCORP, INC.
(847) 741-3900 (847) 741-3900
Elgin, Illinois, June 11, 1999, EFC Bancorp, Inc., (AMEX: EFC) the holding
company for Elgin Financial Savings Bank, Elgin, Illinois announced today the
correction of the final results of the Modified Dutch Auction Tender Offer
that expired on Tuesday, June 1, 1999 at 5:00 p.m. Central Time. EFC Bancorp,
Inc. will purchase 1,709,544 shares at a price of $12.00 per share. The value
of the shares to be purchased is $20.5 million and the number of shares to be
purchased represents approximately 24.0 per cent of the Company's 7,116,934
shares of common stock outstanding on June 2, 1999. After the transaction,
there will be 5,407,390 shares of common stock outstanding.
At December 31, 1998, EFC Bancorp, Inc. reported the following ratios:
shareholders' equity to total assets - 21.09% and book value per share - $12.47.
On a pro forma basis, at December 31, 1998, as a result of the repurchase of
1,709,544 shares at $12.00 per share, these ratios would have been as follows:
shareholders' equity to total assets - 17.04%; and book value per share -
$12.62.
The tender offer was commenced on April 23, 1999 whereby EFC Bancorp, Inc.
offered to purchase up to 1,779,233 shares of its common stock within a price
range, as published on April 23, 1999, of $10.00 per share to $12.00 per share.
EFC Bancorp, Inc. is a thrift holding company headquartered in Elgin,
Illinois with approximately $411 million in total assets (after completion of
the tender transaction). Elgin Financial Savings Bank, the principal subsidiary
of EFC Bancorp, Inc. operates through its executive branch office in Elgin and
through four other full service branches located in Elgin and West Dundee,
Illinois. The Bank's deposits are insured by the Federal Deposit Insurance
Corporation.
