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):
February 11, 2000
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CFS Bancorp, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 000-24611 33-2042093
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
707 Ridge Road, Munster, Indiana 46321
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (219) 836-5500
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N/A
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(Former name or former address, if changed since last report)
Form 8-K
February 11, 2000
Page 2
ITEM 5. OTHER EVENTS.
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On February 11, 2000, CFS Bancorp, Inc. issued a press release
announcing a correction in its calculation of basic and diluted
earnings per share from $0.67 and $0.66 to $0.69 and $0.68,
respectively.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
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(a) FINANCIAL STATEMENTS
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No financial statements are required.
(b) PRO FORMA FINANCIAL INFORMATION
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No pro forma financial information is required.
(c) EXHIBITS
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NO. DESCRIPTION
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99 Press Release, dated February 11, 2000
Form 8-K
February 11, 2000
Page 3
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 hereunto duly authorized.
CFS BANCORP, INC.
/s/ Thomas F. Prisby
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By: Thomas F. Prisby
Chairman of the Board and
Chief Executive Officer
Date: February 11, 2000
EXHIBIT 99
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Bancorp, Inc. Thomas F. Prisby, Chairman
707 Ridge Road James W. Prisby, President
Munster, Indiana 46321-1678
February 11, 2000
FOR IMMEDIATE RELEASE
CONTACT: Thomas F. Prisby, Chairman of the Board
and Chief Executive Officer
2l9-836-5500
CFS Bancorp, Inc. Announces Correction of Earnings
Per Share Calculations
MUNSTER, IN February 11, 2000 CFS Bancorp, Inc. (NASDAQ: CITZ)
("Company") today announced a correction of basic earnings per share to
$0.69 per share for the year ended December 31, 1999 from the $0.67 per
share as shown in the Company's previous release issued on January 27, 2000.
Also diluted earnings per share has been revised to $0.68 per share
from $0.66 per share. All other financial data remain the same as was
released on January 27th.
The correction is a result of a change in the Company's treatment of
unvested shares of the Recognition and Retention Plan ("RRP") for purposes
of computing average outstanding shares for earnings per share calculations.
Originally the Company included all RRP shares as outstanding. However,
only vested RRP shares are considered outstanding for basic earnings per
share calculations, while for diluted earnings per share calculations, RRP
shares are afforded treatment similar to stock options.
CFS Bancorp, Inc. is the parent of Citizens Financial Services, FSB.
Citizens Financial Services operates 25 offices throughout Chicago's
Southland and Northwest Indiana. The Company provides insurance and
investment services through its subsidiaries and trust services through the
bank. The Company's stock trades on the Nasdaq Stock Market under the
symbol "CITZ."
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