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) March 24, 2000
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.
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Item 5. Other Events.
On March 24, 2000, 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 March 24, 2000.
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: March 24, 2000 By: /S/
Babette E. Heimbuch
President and Chief
Executive Officer
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INDEX TO EXHIBITS
Item Page
99 Press Release dated March 24, 1999 4
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FIRSTFED ANNOUNCES STOCK REPURCHASE AUTHORIZATION
Santa Monica, California, March 24, 2000 - FirstFed Financial Corp.
(NYSE-FED), parent company of First Federal Bank of California, announced
that on March 22, 2000 its Board of Directors authorized an expansion of its
stock repurchase program. The expansion will allow the Company to repurchase
approximately 876,800 additional shares, which represents 5% of the Company's
shares outstanding as of March 22, 2000.
In 1999, the Company repurchased a total of 3,298,150 shares, at an
average purchase price of $15.83 per share. Since January 1, 2000 the
Company has repurchased 653,100 shares at an average price of $12.48 per
share. The aggregate repurchases over this 15-month period represent
approximately 19% of the shares outstanding at January 1, 1999. Ms. Babette
Heimbuch, Chief Executive Officer and President of the Company, stated, "Our
Board recognizes the value to our stockholders of the repurchase of Company
stock at a favorable price. We are pleased that this additional
authorization will allow us to continue to take advantage of the opportunity
that exists under current market conditions."
First Federal Bank of California continues to exceed the capital
requirements necessary to be deemed "well capitalized" for regulatory capital
purposes.
This press release contains certain forward-looking statements that are
subject to various factors which could cause actual results to differ
materially from such statements. Such factors include, but are not limited
to, the possibility that the repurchase transaction discussed herein may not
be consummated or may be delayed due to changing economic, market or business
conditions.
