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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: September 30, 1998
SHORELINE FINANCIAL CORPORATION
(Exact name of registrant as
specified in its charter)
MICHIGAN 0-12216 38-2758932
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification no.)
incorporation)
823 RIVERVIEW DRIVE
BENTON HARBOR, MICHIGAN 49022
(Address of principal executive offices) (Zip Code)
Registrant's telephone number,
including area code: (616) 927-2251
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Item 5. OTHER EVENTS.
On September 30, 1998, Shoreline Financial Corporation issued the
press release attached as Exhibit 99 to this Form 8-K.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION, AND
EXHIBITS.
(c) Exhibits:
99 Press Release dated September 30, 1998.
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SIGNATURE
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.
Dated: September 30, 1998 SHORELINE FINANCIAL CORPORATION
(Registrant)
By: /S/ WAYNE R. KOEBEL
Wayne R. Koebel
Executive Vice President
and Chief Financial Officer
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EXHIBIT INDEX
EXHIBIT NUMBER DOCUMENT
99 Press Release dated September 30, 1998.
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EXHIBIT 99
Shoreline to Commence Stock Repurchase
BENTON HARBOR, Mich.--(BUSINESS WIRE)--Sept. 30, 1998--Shoreline Financial
Corporation (NASDAQ:SLFC -news) announced today that it has been authorized
by its board of directors to purchase up to 225,000 shares of the
corporation's common stock. It is anticipated that these shares will be
purchased by the corporation in a systematic program of open market and
privately negotiated purchases, and that they will be reserved for later
reissue in connection with possible future stock dividends, employee
benefit plans, the company's dividend reinvestment plan, and other general
corporate purposes.
Dan L. Smith, Chairman of the Board, President and Chief Executive Office
of Shoreline stated: "Under current conditions, we believe that purchasing
our own stock is an effective use of our funds, which will result in a
positive benefit to our shareholders. Our decision to allow our recently
completed acquisition of The State Bank of Coloma to be accounted for as a
purchase will allow us to begin purchasing our own stock immediately."
Shoreline Financial Corporation is a bank holding company which owns
Shoreline Bank. Shoreline Bank is headquartered in Benton Harbor, Michigan,
and operates 30 banking offices in southwestern Michigan. At June 30, 1998,
Shoreline had total assets of approximately $889 million.
Contact:
Shoreline Bank, Benton Harbor
Wayne R. Koebel, 616/927-2251 ext. 2132
