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 report): FEBRUARY 26, 1997
Glenway Financial Corporation
_________________________________________________________________________
(Exact name of registrant as specified in its charter)
Delaware 0-18664 31-1297820
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
5535 Glenway Avenue, Cincinnati, Oh 45205
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (513) 922-5959
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Item 5. Other Events
On February 26, 1997, the Board of Directors of Glenway Financial
Corporation (the "Registrant") announced the Registrant's plan to repurchase up
to 5% of it's outstanding common shares over the next six months.
Exhibit Index
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99 Press Release dated February 26, 1997
-2-
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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.
GLENWAY FINANCIAL CORPORATION
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(Registrant)
Robert R. Sudbrook, President
Exhibit 99
GLENWAY FINANCIAL CORPORATION
4221 Glenway Avenue, Cincinnati, Ohio 45205 (513)921-5505
FOR MORE INFORMATION CONTACT FOR IMMEDIATE RELEASE
ROBERT R. SUDBROOK FEBRUARY 26, 1997
PRESIDENT & CHIEF
EXECUTIVE OFFICER
CENTENNIAL SAVINGS BANK
GLENWAY FINANCIAL CORPORATION
513-922-5959
GLENWAY FINANCIAL CORPORATION
STOCK REPURCHASE PROGRAM
CINCINNATI - Glenway Financial Corporation, parent company of Centennial Savings
Bank, announced today that it intends to repurchase up to 5% of its outstanding
common shares in the over-the-counter market over the next six months. The
number of shares to be purchased and the price to be paid will depend upon the
availability of shares and the prevailing market prices.
Robert R. Sudbrook, President of Glenway stated that the Board of Directors
believes that the repurchase program will enhance shareholder value and common
stock liquidity. The repurchased shares are expected to be retained as treasury
shares to be held for future issuance under the company's stock option plan.
A prior stock repurchase program was initiated in August, 1994 by Glenway
resulting in the purchase of 51,800 of the outstanding common shares. At
February 1, 1997, Glenway had 1,159,769 shares outstanding. Glenway's common
stock is traded on the Nasdaq National Market under the symbol "GFCO."
