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 29, 1999
FIRST KANSAS FINANCIAL CORPORATION
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(Exact name of Registrant as specified in its Charter)
Kansas 0-24037 48-1198888
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(State or other jurisdiction (SEC File No.) (IRS Employer
of incorporation) Identification
Number)
600 Main Street, Osawatomie, Kansas 66064
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (913)755-3033
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Not Applicable
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(Former name or former address, if changed since last Report)
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FIRST KANSAS FINANCIAL CORPORATION
INFORMATION TO BE INCLUDED IN REPORT
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Item 5. Other Events
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On October 29, 1999, the Registrant announced that it intends to
initiate a repurchase plan covering up to of 5%, or 70,121 shares of its
outstanding common stock to be purchased in the open market. The Registrant
announced that the repurchases would be made from time to time, subject to the
availability of stock. The repurchases are expected to be completed within one
year. This will be the Registrant's third stock repurchase since the initial
public offering of the Registrant's common stock in connection with the mutual
to stock conversion of its subsidiary, First Kansas Federal Savings Bank, in
June 1998. On May 13, 1999, the Registrant completed the repurchase of 5% or
77,696 shares of its outstanding common stock in an open market repurchase
program. In addition, on September 17, 1999, the Registrant completed the
repurchase of 5% or 73,812 shares of its outstanding common stock in an open
market repurchase program.
For further details, reference is made to the Press Release dated
October 29, 1999, which is attached hereto as Exhibit 99 and incorporated herein
by this reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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Exhibit 99 -- Press Release dated October 29, 1999.
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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.
FIRST KANSAS FINANCIAL CORPORATION
Date: November 5, 1999 By: /s/Larry V. Bailey
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Larry V. Bailey
President and Chief
Executive Officer
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EXHIBIT 99
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First Kansas Financial Corporation
600 Main Street
Osawatomie, Kansas 66064
Subject: Stock Repurchase
Contact: Larry V. Bailey
President
(913) 755-3033
Date: October 29, 1999
FOR IMMEDIATE RELEASE
Osawatomie, Kansas - (NASDAQ National Market: FKAN) First Kansas
Financial Corporation (the "Company"), the parent holding company of First
Kansas Federal Savings Bank, Osawatomie, Kansas, announced it intends to
initiate a repurchase plan covering up to 5% or 70,121 shares, of the Company's
common stock to be purchased in the open market. The Company currently has
1,402,430 shares of common stock outstanding. Mr. Larry Bailey, President and
Chief Executive Officer of the Company, indicated the repurchase plan could
mitigate some of the potentially dilutive effects of the Company's stock option
plan 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's stock is traded on the NASDAQ National Market under the
symbol "FKAN".
The Bank is a community oriented, full service retail savings
institution offering traditional mortgage loan products. The Bank attracts
deposits from the general public and has historically used such deposits
primarily to originate loans secured by first mortgages on owner-occupied
one-to-four family residences in its market area and to purchase investment
securities.
