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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 16, 1996
St. Paul Bancorp, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 01-15580 36-3504665
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) No.)
6700 West North Avenue
Chicago, Illinois 60707
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(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code: (773) 622-5000
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Not Applicable
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(Former name or former address, if changed since last report)
Page 1 of 3 Pages
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Item 5. Other Events
On December 16, 1996 St. Paul Bancorp, Inc. (the "Company") announced
that it has declared a five-for-four stock split on its outstanding shares of
common stock, par value $0.01 per share, in the form of a 25% stock dividend,
payable on January 14, 1997 to shareholders of record as of December 31, 1996.
In conjunction with the stock split, the Company has also announced its
intention, subject to final determination of its financial results for the
fourth quarter of 1996, to maintain its quarterly cash dividend rate at $0.12
per share.
A copy of the press release dated December 16, 1996 is attached as an
exhibit.
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SIGNATURES
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 hereunto duly authorized.
ST. PAUL BANCORP, INC.
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(Registrant)
/s/ Patrick J. Agnew
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Patrick J. Agnew
President
Attest:
/s/ Clifford M. Sladnick
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Clifford M. Sladnick
Senior Vice President, General Counsel
and Corporate Secretary
Date: December 16, 1996
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EXHIBIT 99.1
N E W S
FOR IMMEDIATE RELEASE
Dec. 16, 1996
Contacts: Robert N. Parke
(773) 804-2360
Maryellen T. Thielen
(773) 804-2284
ST. PAUL BANCORP ANNOUNCES FIVE-FOR-FOUR STOCK SPLIT
AND INCREASED DIVIDEND PAYOUT
CHICAGO, Dec. 16, 1996 -- St. Paul Bancorp, Inc. (NASDAQ: SPBC) today
announced a five-for-four stock split of its outstanding shares. New shares to
be issued as a result will be distributed on Tuesday, Jan. 14, 1997 to
shareholders of record as of Tuesday, Dec. 31, 1996.
The board of directors also voted to maintain St. Paul's regular quarterly
cash dividend at 12 cents per share. As a result, the company increased its
post-split cash dividend payout 25 percent. Shareholders will receive 25
percent more in dividends -- 60 cents annually on five shares rather than 48
cents on four shares.
"The stock split will enhance the liquidity of St. Paul stock while making
it more affordable for individual investors," said Joseph C. Scully, chief
executive officer. "Furthermore, the increased dividend payout reflects our
confidence in St. Paul's performance and enhances the stock's return to
shareholders."
St. Paul Bancorp is the parent of St. Paul Federal Bank For Savings,
Illinois' largest independent savings institution. St. Paul Federal operates
52 branches throughout metropolitan Chicago. The company also provides
discount brokerage, insurance, annuity and real estate development services
through other subsidiaries. St. Paul's stock is listed on the NASDAQ National
Market System under the symbol SPBC.
TO RECEIVE THIS NEWS RELEASE AND OTHER INFORMATION ON ST. PAUL BANCORP VIA
FAX OR MAIL, USE YOUR TOUCH-TONE PHONE TO CALL THE COMPANY'S NEWS HOTLINE AT
(773) 889-SPBC (7722).
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STOCKHOLDERS MAY DIAL (800) 730-4001 TOLL-FREE TO INQUIRE ABOUT
STOCKHOLDER RECORDS, STOCK TRANSFERS, OWNERSHIP CHANGES, ADDRESS CHANGES,
DIVIDEND PAYMENTS OR THE DIVIDEND REINVESTMENT PLAN. OR WRITE TO THE INVESTOR
RELATIONS DEPARTMENT AT BANK OF BOSTON C/O BOSTON EQUISERVE, MAIL STOP
45-02-09, P.O. BOX 644, BOSTON, MA 02102-0644.
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