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 30, 1998
Quitman Bancorp, Inc.
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(Exact name of Registrant as specified in its Charter)
Georgia 0-23763 58-2365866
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(State or other jurisdiction (SEC File No.) (IRS Employer
of incorporation) Identification
Number)
100 West Screven Street, Quitman, Georgia 31643
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (912) 263-7538
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Not Applicable
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(Former name or former address, if changed since last Report)
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QUITMAN BANCORP, INC.
INFORMATION TO BE INCLUDED IN REPORT
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Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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(c) Exhibits:
Exhibit No. 99 - Press release announcing stock repurchase
program.
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SIGNATURES
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, thereunto duly authorized.
QUITMAN BANCORP, INC.
Date: October 30, 1998 By: /s/ Melvin E. Plair
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Melvin E. Plair
President
EXHIBIT 99
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[QUITMAN BANCORP, INC. LETTERHEAD]
FOR IMMEDIATE RELEASE FOR FURTHER INFORMATION
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CONTACT:
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October 30, 1998 Melvin E. Plair
President and Chief Executive
Officer
(912) 263-7538
QUITMAN BANCORP, INC. ANNOUNCES STOCK REPURCHASE
Quitman, Georgia -- Quitman Bancorp, Inc. (OTC Bulletin Board - QTMB)
the parent holding company of Quitman Federal Savings Bank, today announced that
it has received the necessary regulatory and Board approval to initiate a
repurchase plan covering up to 15% or 99,000 shares of the Company's common
stock to be purchased in the open market. The company currently has 661,250
shares of common stock outstanding. Mr. Melvin E. Plair, President and Chief
Executive Officer of the Company, indicated that the repurchase plan could
mitigate some of the potentially dilutive effects of the stock option plan that
the Company is planning and would also be available for general corporate use.
The repurchases will be made from time to time in open-market transactions,
subject to the availability of stock.
The Company became the holding company for the Bank on April 2, 1998,
following its initial public offering at the time of the conversion of the
Company from a mutual holding company to stock holding company.
Quitman Federal Savings Bank is a federally chartered savings bank that
conducts its business in Brooks County, Georgia from our location in Quitman.
The Bank's deposits are insured up to the maximum legal amount by the Federal
Deposit Insurance Corporation ("FDIC").
