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) November 25, 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 Tuesday, November 25, 1997, the Company issued a press release
pertaining to a regular quarterly dividend.
A copy of the press release announcing the above, dated November
25, 1997, is attached hereto as Exhibit 99.1.
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: November 25, 1997
COVEST BANCSHARES, INC.
By: /s/ Larry G. Gillie
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Name: Larry G. Gillie
Title: President &
Chief Executive Officer
By: /s/ Paul A. Larsen
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Name: Paul A. Larsen
Title: Senior Vice President &
Chief Financial Officer
Item 7. EXHIBIT 99.1
DES PLAINES, IL, November 25, 1997 -- CoVest Bancshares, Inc.
(NASDAQ: COVB) the holding company for CoVest Banc, N.A.,
Des Plaines, Illinois, announced today that the Company's
Board of Directors has declared a $.08 per share regular quarterly
dividend. This dividend, which is the twelfth consecutive regular
quarterly dividend, will be payable on December 31, 1997 to
holders of record on December 15, 1997.
As a result of the recent 3 - for - 2 stock split, this dividend
of $.08 per share represents a 20% increase in the effective
dividend rate, and a yield of 1.81% based upon the closing price
on November 24, 1997. The total shares outstanding as of today
are 4,365,866 (post-splits).
As of September 30, 1997, CoVest Bancshares, Inc. had consolidated
assets of $527.5 million. The Bank operates three full-service
offices in Arlington Heights, Des Plaines and Schaumburg.
