SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 8-KSB
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 28, 1999
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Webster City Federal Bancorp
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(Exact name of registrant as specified in its charter)
Federal 0-26577 42-1491186
___________________________ ___________________ _____________________
(State or other jurisdiction (Commission File No.) (I.R.S. Employer
of incorporation) Identification No.)
Address of principal executive offices:
820 Des Moines Street, Webster City, Iowa 50595
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Registrant's telephone number, including area code: (515) 832-3071
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Not Applicable
____________________________________________________________
(Former name or former address, if changed since last report)
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Item 5. Other Events
Webster City Federal Bancorp announced that the Board of Directors
has approved a share repurchase program. The program calls for the
repurchase of up to 97,000 shares, or approximately 10% of the shares
outstanding. Please see Press Release dated July 28, 1999, a copy of
which is included as Exhibit 99.1.
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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, hereunto duly authorized.
WEBSTER CITY FEDERAL BANCORP
DATE: July 30, 1999 By:/s/ Phyllis A. Murphy
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Phyllis A. Murphy
President and Chief Executive Officer
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EXHIBIT INDEX
The following Exhibits are filed as part of this report:
Exhibit 99.1 Press Release of Webster City Federal Bancorp dated July 28, 1999
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EXHIBIT 99.1
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July 28, 1999
FOR IMMEDIATE RELEASE
Contact: Phyllis A. Murphy, President
and Chief Executive Officer
Tel (515) 832-3071
Webster City Federal Bancorp Authorizes Repurchase
of up to 97,000 Shares of Common Stock
Webster City Federal Bancorp (Nasdaq-WCFB) announced today that the
Company's Board of Directors authorized the repurchase of up to 97,000 shares,
or approximately 10% of the Company's outstanding common stock held by
stockholders other than WCF Financial, M.H.C., the Company's mutual holding
company.
Repurchases are authorized to be made by the Company from time to time
during the next six months as, in the opinion of management, market conditions
warrant. Any repurchased shares will be held in treasury stock and will be
available for general corporate purposes.
Phyllis A. Murphy, President and Chief Executive Officer of the Company,
stated "The repurchase program is another tool that management intends
to utilize from time to time as part of its capital management strategy."
Webster City Federal Bancorp is the holding company for Webster City
Federal Savings Bank. Webster City Federal Savings Bank is headquartered in
Webster City, Iowa.
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