UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(b) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 9, 1999
LINCOLN BANCORP
(Exact name of registrant as specified in its charter)
INDIANA
(State of other jurisdiction of incorporation)
333-63373 35-2055553
(Commission File Number) (IRS Employer Identification No.)
1121 East Main Street
Plainfield, Indiana 46168
(Address of principal executive offices) (Zip Code)
Registrants telephone number, including area code: (317)839-6539
Item 5. Other Events.
Pursuant to General Instruction F to Form 8-K, the press release issued
August 9, 1999, concerning the Corporation's stock repurchase program is
attached hereto as Exhibit 1 and incorporated by reference herein.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
Exhibit 99 - Press Release dated August 9, 1999.
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.
/s/ T. Tim Unger
------------------------------
T. Tim Unger, President and
Chief Executive Officer
Dated: August 11, 1999
EXHIBIT 99
Press Release FOR IMMEDIATE RELEASE
Contact: T. Tim Unger
Phone Number: (317)839-6539
PLAINFIELD, Ind., Aug. 9 -- Lincoln Bancorp (the "Corporation")
announced today that the Board of Directors has approved the repurchase, from
time to time, on the open market of up to 10% of the Corporation's outstanding
shares of common stock, without par value ("Common Stock"), or 700,925 such
shares. Such purchases will be made subject to market conditions in open market
or block transactions. Repurchases may begin as early as August 12, 1999 (3 days
after press release is issued), since the required regulatory clearance has been
received.
According to Tim Unger, President of the Corporation, the Board
believes that the Corporation's shares are currently undervalued by the market
and that open market purchases will have the potential effect of enhancing the
book value per share and the potential for growth in earnings per share of the
Corporation's remaining outstanding shares.
The foregoing discussion contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995, which involve a
number of risks and uncertainties. A number of factors could cause results to
differ materially from the objectives and estimates express in such
forward-looking statements. The factors include, but are not limited to,
anticipated market prices and prices actually paid by the Corporation for its
shares pursuant to the stock repurchase program announced herein. These factors
should be considered in evaluating any forward-looking statements, and undue
reliance should not be placed on such statements. The Corporation does not
undertake and specifically disclaims any obligation to update any forward-
looking statements to reflect occurrence of anticipated or unanticipated events
or circumstances after the date of such statements.
Lincoln Bancorp, an Indiana Corporation, is the holding company for
Lincoln Federal Savings Bank, a federal savings bank, are headquartered in
Plainfield, Indiana, with additional offices in Avon, Brownsburg,
Crawfordsville, Frankfort and Mooresville.
