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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: June 21, 1999
OLD KENT FINANCIAL CORPORATION
(Exact name of registrant as
specified in its charter)
MICHIGAN 0-14591 38-1986608
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification no.)
incorporation)
111 LYON STREET, N.W.
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 June 21, 1999, Old Kent Financial Corporation issued the press
releases attached as Exhibits 99.1 and 99.2 to this Form 8-K.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION, AND
EXHIBITS.
(c) Exhibits:
99.1 Press Release dated June 21, 1999.
99.2 Press Release dated June 21, 1999.
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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: June 21, 1999 OLD KENT FINANCIAL CORPORATION
(Registrant)
By:/S/ MARY E. TUUK
Mary E. Tuuk
Senior Vice President and Secretary
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EXHIBIT INDEX
EXHIBIT NUMBER DOCUMENT
99.1 Press Release dated June 21, 1999 (appointment of Chief
Financial Officer).
99.2 Press Release dated June 21, 1999 (stock dividend and
stock repurchase).
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EXHIBIT 99.1
[OLD KENT LOGO]
OLD KENT FINANICAL CORPORATION
NYSE: OK 111 Lyon Street, NW
FOR RELEASE: IMMEDIATELY Grand Rapids, MI 49503-2406
DATE: JUNE 21, 1999
CONTACT: MEDIA: TANYA BERG
(616) 771-4364
ANALYSTS: AL POTAS
(616) 771-1931
MARK F. FURLONG APPOINTED CHIEF FINANCIAL OFFICER
OF OLD KENT FINANCIAL CORPORATION
GRAND RAPIDS, MICHIGAN - David J. Wagner, Chairman, President and
Chief Executive Officer announced that the Board of Directors has appointed
Mark F. Furlong Chief Financial Officer of Old Kent Financial Corporation.
In his new role, Furlong will continue to report directly to Robert H.
Warrington, Vice Chairman of Old Kent.
Furlong joined Old Kent in March 1998 as Senior Vice President
and Chief Financial Officer of Old Kent Bank. He was appointed
Executive Vice President in October 1998. He has a strong background
in auditing and finance, including serving as an audit partner in
Deloitte & Touche's Los Angeles Financial Services Practice. He
also served at H.F. Ahmanson/Home Savings of America as First Vice
President with responsibilities in planning, budgeting, forecasting,
mergers and acquisitions and capital planning. Prior to that, Furlong
was Senior Vice President of Finance at First Executive Corporation.
Furlong received his B.S. degree in Accounting, Finance and
Business from Southern Illinois University and is a Certified Public
Accountant.
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Old Kent Financial Corporation is a financial services company
headquartered in Grand Rapids, Michigan, with a 40 year history of
consecutive increases in annual per share earnings and dividends.
Old Kent operates 234 banking offices in Michigan, Illinois, and
Indiana as well as 160 mortgage lending sites throughout the United
States. At March 31, 1999, Old Kent had total assets of $15.9 billion.
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EXHIBIT 99.2
[OLD KENT LOGO]
OLD KENT FINANICAL CORPORATION
NEWS RELEASE 111 Lyon Street, NW
Grand Rapids, MI 49503-2406
NYSE: OK
FOR RELEASE: IMMEDIATELY
DATE: JUNE 21, 1999
CONTACT: AL POTAS
(616) 771-1931
OLD KENT DECLARES STOCK DIVIDEND
AND AUTHORIZES STOCK REPURCHASE
GRAND RAPIDS, MICHIGAN - At a meeting held on June 21, 1999, the Board
of Directors of Old Kent Financial Corporation declared a 5% stock dividend
payable July 19, 1999, to shareholders of record on June 29, 1999.
Management anticipates that the Corporation's next regular quarterly cash
dividend will be paid on September 15, 1999, and expects that the current
dividend rate of $0.20 per share will remain in effect for both current and
new shares.
At that same meeting, Old Kent's directors authorized management to
purchase up to 3.0 million shares of the Corporation's common stock by July
31, 2000. It is anticipated that these shares will be purchased by the
Corporation in a systematic program of open market and privately negotiated
purchases. Repurchased shares will be reserved for later reissue in
connection with potential future stock dividends, dividend reinvestment
plans, employee benefit plans, and other general corporate purposes.
During June 1999, Old Kent completed its reacquisition of 6.0 million
shares, which were authorized for repurchase in 1998.
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Old Kent is a financial services company headquartered in Grand
Rapids, Michigan, with a 40 year history of consecutive increases in annual
per share earnings and dividends. It operates 234 banking offices in
Michigan, Illinois and Indiana as well as 160 mortgage lending sites
located throughout the United States. At March 31, 1999, Old Kent assets
totaled $15.9 billion.
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