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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): June 20, 1997
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 June 20, 1997 St. Paul Bancorp, Inc. (the "Company") announced that
it has declared a three-for-two stock split on its outstanding shares of common
stock, par value $0.01 per share, in the form of a 50% stock dividend, payable
on July 14, 1997 to shareholders of record as of June 30, 1997.
In conjunction with the stock split, the Company has also announced its
intention, subject to final determination of its financial results for the
second quarter of 1997, to increase its quarterly cash dividend rate by 25% by
setting a new cash dividend payout of $0.10 per common stock.
A copy of the press release dated June 20, 1997 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: June 20, 1997
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EXHIBIT 1
[LOGO AND LETTERHEAD OF ST. PAUL BANCORP INC.]
N E W S
FOR IMMEDIATE RELEASE
June 20, 1997
Contacts: Robert N. Parke
(773) 804-2360
Robert E. Williams
(773) 804-2284
ST. PAUL BANCORP ANNOUNCES THREE-FOR-TWO STOCK SPLIT
AND INCREASED QUARTERLY CASH DIVIDEND RATE
Chicago, June 20, 1997 - - St. Paul Bancorp, Inc. (NASDAQ: SPBC) today
announced a three-for-two stock split of its outstanding shares. New shares to
be issued as a result of the split will be distributed on Monday, July 14, 1997
to shareholders of record as of Monday, June 30, 1997.
In conjunction with the stock split and subject to the Company's second
quarter 1997 performance, the Board also announced its intention to increase
the Company's regular quarterly cash dividend payout. The new quarterly cash
dividend of $0.10 per common share will represent a 25% increase over the
previous quarterly rate, on a split-adjusted basis. The dividend is
anticipated to become effective upon the declaration of the Company's next
quarterly dividend in mid-July, 1997.
Joseph C. Scully, Chairman of the Board and Chief Executive Officer, said,
"This three-for-two stock split will enhance the liquidity of St. Paul Bancorp
stock, making it more affordable to retail investors. Furthermore, the
increase in the cash dividend rate reflects the Board's continued confidence in
St. Paul Bancorp'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).
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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