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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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) April 22, 1999
FirstFed Financial Corp.
(Exact name of registrant as specified in its charter)
Delaware 1-9566 95-4087449
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(State of Incorporation) (Commission File No.) (IRS Employer
Identification No.)
401 Wilshire Boulevard, Santa Monica, California, 90401-1490
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(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.
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Item 5. Other Events.
On April 22, 1999, the registrant, FirstFed Financial Corp., issued a press
release. A copy of this press release is attached and incorporated herein as
Exhibit 99.
Item 7. Financial Statements and Exhibits
a) Financial Statements of businesses acquired.
Not applicable.
b) Pro forma financial information.
Not applicable.
c) Exhibits
99. Press release dated April 22, 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: April 22, 1999 By: /s/ BABETTE E. HEIMBUCH
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Babette E. Heimbuch
President and
Chief Operating Officer
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INDEX TO EXHIBITS
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Item Page
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99 Press Release dated April 22, 1999 4
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[FIRST FED FINANCIAL CORP] NEWS RELEASE
CONTACT: Douglas Goddard, Executive Vice President
FIRSTFED ANNOUNCES SECOND EXPANSION
OF 1998 STOCK REPURCHASE PROGRAM
Santa Monica, California, April 22, 1999 - FirstFed Financial Corp.
(NYSE-FED), parent company of First Federal Bank of California, announced that
on April 21, 1999 its Board of Directors had authorized an expansion of the
stock repurchase program authorized on October 21, 1998 and increased on
February 25, 1999. The increase will allow the Company to repurchase an
additional 966,081 shares, which represents 5% of the Company's shares
outstanding as of April 21, 1999. Prior to April 21, 1999, the Board had
authorized the repurchase of up to a total of 2,072,116 shares under
authorizations made in October 1998 and February 1999.
Since September 1, 1998, the Company has repurchased a total of 2,092,700
shares at an average purchase price of $16.13 per share. Of these shares,
274,000 represented the completion of a prior repurchase plan adopted in October
1987. Ms. Babette Heimbuch, Chief Executive Officer and President of the
Company, noted "Our previous stock repurchases were consummated at prices that,
in management's opinion, represented an excellent opportunity. In our view, the
Bank's continued strong earnings have not been fully reflected in the recent
market pricing of the Company's stock, and we believe that we may have further
opportunities to successfully deploy capital in the best interests of our
stockholders through additional stock repurchases."
First Federal Bank of California continues to exceed the capital
requirements necessary to be deemed "well capitalized" for regulatory capital
purposes.
