UNITED STATES
SECURITIES & EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(b) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 24, 1998
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HOME FEDERAL BANCORP
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(Exact name of registrant as specified in its charter)
0-18847
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(Commission File Number)
INDIANA 35-1807839
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(State or other jurisdiction) (I.R.S. Employer
of incorporation or organization) Identification No.)
222 West Second Street, Seymour, Indiana 47274
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(Address of Principal Executive Offices) (Zip Code)
Registrants telephone number including area code: (812) 522-1592
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<PAGE>
INFORMATION INCLUDED IN THE REPORT
Item 5. Other Events.
Pursuant to General Instruction F to Form 8-K, the press release issued
December 24, 1998, concerning the Corporation's second quarter charge to
earnings resulting from bad checks cashed by a customer of Home Federal Savings
Bank is attached hereto as Exhibit 1 and incorporated by reference herein.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
Exhibit 1 - Press Release dated December 24, 1998.
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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.
HOME FEDERAL BANCORP
Date: December 24, 1998 By: /s/John K. Keach, Jr.
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John K. Keach, Jr.
President and Chief Executive Officer
PRESS RELEASE
For Immediate Release: December 24, 1998
Contact: John K. Keach, Jr.
President/CEO
(812) 373-7816
HOME FEDERAL ANNOUNCES $180,000 EARNINGS CHARGE
RESULTING FROM CHECK FRAUD
Seymour, Indiana -- December 24, 1998. Home Federal Bancorp (NASDAQ NMS
Symbol "HOMF") announced today that it will record an after-tax earnings charge
of approximately $180,000, or $.033 dilutive earnings per common share, in the
month of December as a result of bad checks aggregating $298,300 which were
deposited by a customer of Home Federal Savings Bank (the "Bank") into a
checking account at the Bank. The Bank is aggressively pursuing steps to recover
the funds from the customer and the individual and corporation who wrote the bad
checks to the Bank's customer. Law enforcement officials are also investigating
the matter for possible criminal penalties. However, as a result of the bad
checks, the Bank has determined to take a charge against earnings during the
month of December for the entire $298,300 aggregate balance of the bad checks.
This will result in an after-tax charge to earnings of approximately $180,000,
or $.033 dilutive earnings per common share. If the Bank is successful in
recovering all or part of the funds, any such recovery will be restored to
income in the month of receipt. However, there can be no assurance at this time
that the Bank will be successful in its recovery efforts.
Home Federal Bancorp (NASDAQ NMS Symbol "HOMF"), an Indiana
corporation, is the holding company for Home Federal Savings Bank, a federal
savings bank headquartered in Seymour, Indiana.
