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 Earliest Event Reported
September 27, 1995
Inter-Regional Financial Group, Inc.
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation of organization)
1-8186 41-1228350
(Commission File Number) (IRS Employer
Identification Number)
Dain Bosworth Plaza, 60 South Sixth Street,
Minneapolis, Minnesota 55402-4422
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (612) 371-7750
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Item 5. OTHER EVENTS
Reference is made to Exhibit 28 filed herewith.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit 28 Press release regarding the resignation of
David A. Smith as a director and executive
officer of registrant and as Chairman,
President and Chief Executive Officer of
Rauscher Pierce Refsnes, Inc., a subsidiary
of registrant.
<PAGE>
SIGNATURE
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.
INTER-REGIONAL FINANCIAL GROUP, INC.
Registrant
Date: September 28, 1995 By: Louis C. Fornetti
----------------------------
Louis C. Fornetti
Executive Vice President &
Chief Financial Officer
<PAGE>
INTER-REGIONAL FINANCIAL GROUP, INC. AND SUBSIDIARIES
INDEX OF EXHIBITS
Exhibit No.
28 - Press release regarding the resignation of David
A. Smith as a director and executive officer of
registrant and as Chairman, President and
Chief Executive Officer of Rauscher Pierce
Refsnes, Inc., a subsidiary of registrant.
Exhibit 28
DAVID A. SMITH TO STEP DOWN AS
CEO OF RAUSCHER PIERCE REFSNES, INC.
MINNEAPOLIS, September 27, 1995 -- Inter-Regional Financial Group
(NYSE: IFG), parent company of regional broker-dealers Dain
Bosworth Incorporated, Minneapolis, and Rauscher Pierce Refsnes,
Inc., Dallas, today announced that David A. Smith will step down
as chairman, president and chief executive officer of Rauscher
Pierce Refsnes and as a member of the IFG board of directors on
September 30. According to Irving Weiser, chairman and CEO, IFG
will begin a search immediately, considering both internal and
external candidates for the post. In the interim, Weiser will
serve as acting CEO, and members of the RPR Executive Committee
will report directly to him. To facilitate a smooth transition,
Smith will remain with the firm in an advisory capacity up to
year end.
According to Weiser, "Rauscher Pierce Refsnes has made great
strides under David Smith's leadership, including establishing a
highly regarded capital markets group, significantly improving
its retail sales force and market share, transforming a strong
fixed income group into a preeminent one, and building a very
successful correspondent clearing business. Yet even greater
strides will be required for RPR to achieve its full potential as
the finest regional securities firm doing business in the
Southwest. We have mutually concluded that RPR's next era of
growth calls for new leadership."
Smith, 49, has been CEO of the Dallas-based securities firm
since 1983 and a member of the IFG board since 1985. In a letter
to RPR employees, Smith said, "While the decision was difficult,
I believe that it is right not only for the company, but for me
as well." He then concluded, "While Rauscher Pierce Refsnes will
be under new leadership, I truly believe that our values, vision
and strategies of being a regionally managed, client-driven
organization will not change, but only be strengthened in the
years ahead."
Weiser praised Smith as "a capable and loyal executive who is
totally dedicated to helping this firm succeed." He added,
"Throughout his 26 years with our firm, David has lived by his
values _ a commitment to honesty, excellence, customer service
and caring about people."
Inter-Regional Financial Group is, through Dain Bosworth
Incorporated and Rauscher Pierce Refsnes, Inc., one of the
nation's largest full-service regional brokerage and investment
banking companies. IFG's two broker-dealers serve individual,
institutional, corporate and governmental clients in 24 states,
predominantly in the western half of the United States. IFG also
is the parent company of Regional Operations Group, an operations
and technology services subsidiary; and IFG Asset Management
Services, Inc., a financial services subsidiary which includes
Insight Investment Management, adviser to the Great Hall Funds.
The company's common stock is traded on the New York Stock
Exchange under the symbol IFG.
MEDIA CONTACT: B. J. French (612) 371-2363; INVESTOR CONTACT:
Joseph Jennings (612) 371-2934
