<PAGE> 1
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) February 26, 1999
FirstFed Financial Corp.
(Exact name of registrant as specified in its charter)
Delaware 1-9566 95-4087449
- ------------------------ --------------------- -------------------
(State of Incorporation) (Commission File No.) (IRS Employer
Identification No.)
401 Wilshire Boulevard, Santa Monica, California, 90401-1490
- ------------------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (310) 319-6000
-----------------
Total number of pages is 4.
Index to Exhibit is on Page 3.
<PAGE> 2
Item 5. Other Events.
On February 26, 1999, the registrant, FirstFed Financial Corp., issued
a press release. A copy of the relevant portion of this press release is
attached and incorporated herein as an Exhibit.
Item 7. Financial Statements and Exhibits
a) Financial Statements of businesses acquired.
Not applicable.
b) Pro forma financial information.
Not applicable.
c) Exhibits
Press Release dated February 26, 1999.
S I G N A T U R E S
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.
FIRSTFED FINANCIAL CORP.
Dated: February 26, 1999 By: /s/ BABETTE E. HEIMBUCH
-----------------------------------
Babette E. Heimbuch
President and
Chief Executive Officer
2
<PAGE> 3
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
Item Page
- ---- ----
<S> <C>
Press Release dated February 26, 1999. 4
</TABLE>
3
<PAGE> 1
EXHIBIT 99.1
For release Friday, February 26, 1999
FIRSTFED REPORTS INCREASE IN STOCK REPURCHASE PROGRAM
Santa Monica, California, February 26, 1999 - FirstFed Financial Corp.
(NYSE-FED), parent company of First Federal Bank of California, today announced
that its Board of Directors had approved an expansion of the stock repurchase
program authorized on October 21, 1998. The increase will allow the Company to
repurchase an additional 5% of the Company's shares outstanding as of February
25, 1999. On October 21, 1998 the Board had authorized the repurchase of up to
5% of the shares outstanding as of that date. This program was in addition to a
stock repurchase program approved in 1987, which authorized repurchase of up to
10% of the shares outstanding at that time.
Ms. Babette Heimbuch, Chief Executive Officer and President of the
Company commented "In Management's view, the recent price performance of the
Company's stock has not reflected the record earnings reported for 1998. The
Company's balance sheet is strong and repurchasing our own shares is an
attractive investment opportunity, at this time."
Under the October 21, 1998 authorization, the Company has repurchased a
total of 945,900 shares to date, constituting 4.48% of the shares outstanding as
of October 21, 1998. These shares were repurchased at an average price per share
of $16.17. Ms. Heimbuch further noted that "the Company intends to continue to
repurchase shares as a part of the Company's capital deployment strategy."
First Federal Bank of California meets the capital requirements
necessary to be deemed "well capitalized" for regulatory capital purposes.
Contact: James P. Giraldin, Senior Executive Vice President, First Federal Bank
of California (310) 319-6013
4
