SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported) August 4, 1997
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COVEST BANCSHARES, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 0-20160 36-3820609
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(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
749 Lee Street, Des Plaines, Illinois 60016
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (847) 294-6500
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Item 5. Other Events
On Monday, August 4, 1997, the Company issued a press release
announcing that CoVest Banc had successfully completed the conversion
process from a federally insured thrift organization to that of a national
bank. The Office of the Comptroller of the Currency has authorized
the Bank to commence business as a national bank association on August 1,
1997, as CoVest Banc, National Association.
The text of the press release is attached hereto as Exhibit 99.1.
Dated: August 4, 1997
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.
Dated: August 4, 1997 COVEST BANCSHARES, INC.
By: ______________________________
Name: Larry G. Gillie
Title: President &
Chief Executive Officer
By: ______________________________
Name: Paul A. Larsen
Title: Senior Vice President &
Chief Financial Officer
Item 7 EXHIBIT 99.1
COVEST BANC BECOMES A NATIONAL BANK
DES PLAINES, IL, August 4, 1997 - CoVest Bancshares, Inc.
(Nasdaq/COVB), the holding company of CoVest Banc, Des Plaines, Il,
announced that CoVest Banc has successfully completed the conversion
process from a federally insured thrift organization to that of a
national bank.
The Office of the Comptroller of the Currency has authorized the Bank to
commence business as a national bank association on August 1, 1997,
as CoVest Banc, National Association.
Larry G. Gillie, President of CoVest Bancshares, Inc. stated, "We have
completed several of our major corporate strategies for 1997
which included our name change at both the Corporate and Bank level
on June 2, 1997 to CoVest Bancshares, Inc., and CoVest Banc and the
conversion to a national bank charter. We believe the restructuring of
our balance sheet and the aforementioned changes will allow us the
flexibility and the opportunity to grow our business in the commercial
and retail banking sections."
As of June 30, 1997, CoVest Bancshares, Inc. had consolidated assets of
$536.4 million. The Bank operates three full-service offices, located
in Arlington Heights, Des Plaines and Schaumburg.
