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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): December 27, 1999
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COMMERCIAL FEDERAL CORPORATION
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(Exact name of registrant as specified in its charter)
NEBRASKA 1-11515 47-0658852
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification Number)
2120 SOUTH 72nd STREET, OMAHA, NEBRASKA 68124
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code: (402) 554-9200
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NOT APPLICABLE
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(Former name or former address, if changed since last report)
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COMMERCIAL FEDERAL CORPORATION
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FORM 8-K
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CURRENT REPORT
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Item 5. Other Events:
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On December 27, 1999, Commercial Federal Corporation ("Commercial Federal")
announced that its Board of Directors authorized the repurchase of up to
three million shares of its outstanding common stock during the next 18
months. Commercial Federal currently has 58,218,247 common shares
outstanding. The repurchase of three million shares of Commercial Federal
common stock announced April 29, 1999, will be completed by December 31,
1999. Repurchases could be made at any time and in any amount, depending
upon market conditions and various other factors. Any repurchase generally
would be on the open-market, although privately negotiated transactions are
also possible. In compliance with Nebraska law, all repurchased shares
will be cancelled.
Information regarding this stock repurchase is set forth in Commercial
Federal's press release dated December 27, 1999, attached hereto as Exhibit
99 and incorporated herein by reference.
Item 7. Financial Statements and Exhibits:
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(a) Exhibits:
Exhibit 99. Press release dated December 27, 1999.
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SIGNATURES
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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.
COMMERCIAL FEDERAL CORPORATION
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(Registrant)
Date: December 29, 1999 /s/ James A. Laphen
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James A. Laphen, President, Chief Operating
Officer and Chief Financial Officer (Duly
Authorized and Principal Financial Officer)
Date: December 29, 1999 /s/ Gary L. Matter
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Gary L. Matter, Senior Vice President,
Controller and Secretary
(Principal Accounting Officer)
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Exhibit 99
Press Release Dated December 27, 1999
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Date: December 27, 1999
Contact: Larry R. Goddard
Investor Relations Department
(402) 390-6553
FOR IMMEDIATE RELEASE
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Omaha, Nebraska (December 27, 1999) - Commercial Federal Corporation
(NYSE: CFB) announced today that its Board of Directors authorized the
additional repurchase of up to 3 million shares of the Company's
outstanding common stock during the next 18 months. Commercial Federal
currently has 58,218,247 common shares outstanding. The repurchase of 3
million shares of the Company's outstanding common stock, announced in
April 1999, will be completed this week.
Repurchases could be made at any time and in any amount, depending
upon market conditions and various other factors. Any repurchase generally
would be on the open-market, although privately negotiated transactions are
possible. In compliance with Nebraska law, all repurchased shares will be
cancelled.
"The repurchase of Commercial Federal shares continues to be an
important component of our capital management," stated William A.
Fitzgerald, chairman and chief executive officer. "The Company's stock is
undervalued at its current price level and represents an attractive
investment opportunity."
Commercial Federal Corporation, with assets of $13.1 billion at
September 30, 1999, is the holding company for Commercial Federal Bank, a
federal savings bank that operates 259 retail offices in Iowa, Colorado,
Nebraska, Kansas, Oklahoma, Missouri, Arizona, South Dakota, and Minnesota.
Commercial Federal shares are traded on the New York Stock Exchange
under the symbol "CFB."
