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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 (Date of earliest event reported)
March 20, 1997
FIRSTFEDERAL FINANCIAL SERVICES CORP
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(Exact name of Registrant as specified in its Charter)
Ohio 0-17894 34-1622711
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(State or other (Commission File No.) (IRS Employer
jurisdiction of Identification
incorporation) Number)
135 East Liberty Street, Wooster, Ohio 44691
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(330) 264-8001
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N/A
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(Former name or former address, if changed since last report)
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Item 5. Other Events
On March 20, 1997, FirstFederal Financial Services Corp
("FirstFederal") issued the press release included as Exhibit
99 to this report and incorporated by reference herein,
announcing the private placement of $40.5 million of 9.125%
Subordinated Notes due March 15, 2004.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99 Text of press release, dated March 20, 1997,
issued by FirstFederal Services Corp
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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.
FIRSTFEDERAL FINANCIAL SERVICES CORP
Date: March 25, 1997 By: /s/ Gary G. Clark
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Gary G. Clark
Chairman and Chief Executive
Officer
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EXHIBIT INDEX
Exhibit Number Description
99 Press Release of FirstFederal
Financial Services Corp, dated
March 20, 1997
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Exhibit 99
[FIRST FEDERAL FINANCIAL SERVICES CORP LETTERHEAD]
NEWS RELEASE
FOR IMMEDIATE RELEASE
March 20, 1997
Gary G. Clark, Chairman
FirstFederal Financial Services Corp
135 East Liberty Street
Wooster, OH 44691
Phone: (330) 264-8001
FirstFederal Financial Services Corp
Announces Issuance of Subordinated Notes
and Filing of Application to Convert to Bank Charter
Wooster, Ohio (NASD: "FFSW"; "FFSWO") FirstFederal Financial
Services Corp today announced that it had sold privately $40.5
million of 9.125% Subordinated Notes due March 15, 2004. The
Notes were placed through McDonald & Company Securities, Inc. and
are intended to qualify, pursuant to rules of the Federal Reserve
System, as Tier II capital. The issuance of the Notes comes in
conjunction with the Company's application to become a bank
holding company and the application of its primary subsidiary,
First Federal Savings and Loan Association, to become a national
bank. "The issuance of the Notes provides a source of funds at
an attractive rate and further bolsters our capital as we make
the move to a bank holding company," according to Gary G. Clark,
Chairman and CEO. The Notes are subject to redemption at the
option of the Company commencing March 15, 2002.
