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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: April 30, 1997
OLD KENT FINANCIAL CORPORATION
(Exact name of registrant as
specified in its charter)
MICHIGAN 0-12216 38-1986608
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification no.)
incorporation)
ONE VANDENBERG CENTER
GRAND RAPIDS, MICHIGAN 49503
(Address of principal executive offices) (Zip Code)
Registrant's telephone number,
including area code: (616) 771-5000
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Item 5. OTHER EVENTS.
On April 30, 1997, Old Kent Financial Corporation issued the
press release attached as Exhibit 99 to this Form 8-K.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION, AND
EXHIBITS.
(c) Exhibits:
99 Press Release dated April 30, 1997.
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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.
Dated: May 1, 1997 OLD KENT FINANCIAL CORPORATION
(Registrant)
By: /S/ ALBERT T. POTAS
Albert T. Potas
Senior Vice President
and Controller
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EXHIBIT INDEX
EXHIBIT NUMBER DOCUMENT
99 Press Release dated April 30, 1997.
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EXHIBIT 99
News Release
NASDAQ: OKEN
FOR RELEASE: Immediately
DATE: April 30, 1997
CONTACTS: Tanya Berg
Old Kent Financial Corporation
(616) 771-4364
John Langenfeld
First National Bank of Omaha
(402) 341-0500
OLD KENT FORMS CREDIT CARED ALLIANCE WITH FIRST NATIONAL
BANK OF OMAHA
GRAND RAPIDS, MICHIGAN - Old Kent Bank announced today that it has
signed an agreement to form a credit card alliance with First National Bank
of Omaha. The transaction includes the sale of approximately $280 million
in Old Kent credit card outstandings to First National. First National
Bank of Omaha is headquartered in Omaha, Nebraska and services
approximately $3 billion in credit card outstandings.
The transaction is subject to regulatory approval and is expected to
be completed in early June. Specific terms of the agreement were not
disclosed. Old Kent will continue to provide its customers with a variety
of Old Kent branded credit card options through its alliance with First
National.
In making the announcement, David J. Wagner stated, "First National
has considerable expertise in the credit card business and an outstanding
reputation for quality service. We look forward to bringing our customers
enhanced levels of service and expanded product options as a result of this
new alliance." Although the financial impact of the proposed transaction
will not be confirmed until closing, Mr. Wagner added that Old Kent expects
to recognize a gain on the sale and also anticipates a positive impact on
the Corporation's ongoing operations.
First National began issuing credit cards in 1953 and is now one of
America's largest credit card centers. The company has been active in
agent bank card issuing programs for more than 30 years.
Old Kent Financial Corporation is a bank holding company headquartered
in Grand Rapids, Michigan, whose affiliated banks operate 203 full service
offices in Michigan and 24 in Illinois. Old Kent had total assets of $13.2
billion at March 31, 1997.
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