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) October 28, 1997
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 File (I.R.S. Employer Number)
Jurisdiction No.)
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
Item 5. OTHER EVENTS
On Tuesday, October 28, 1997, the Company issued a press
release pertaining to a three-for-two stock split payable
in the form of a one-for-two stock dividend. The text of the
press release is attached hereto as Exhibit 99.1.
Item 7. Exhibit 99.1
Dated: October 28, 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: October 28, 1997
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 Bancshares, Inc. Declares Three-for-Two Stock Split
DES PLAINES, IL, Oct. 28, 1997 -- CoVest Bancshares, Inc.
(Nasdaq/COVB), formerly FirstFed Bancshares, Inc. and the
holding company for CoVest Banc, Des Plaines, Illinois,
announced today that the Company's Board of Directors
has declared a three-for-two stock split payable in the
form of a one-for-two stock dividend. Stockholders of
record as of November 14, 1997, will be eligible to receive the stock
dividend which will be distributed on December 1, 1997.
In addition, the Company's Board of Directors has approved a new
Stock Repurchase Program, the Company's twelfth, enabling the Company
to repurchase up to 100,000 shares of its outstanding stock. These
purchases will be made in the open market and/or through privately
negotiated transactions. The stock will be used for the
issuance of shares in connection with the exercises of previously
granted stock options. The total common shares outstanding as
of today are 2,916,572.
As of September 30, 1997, CoVest Bancshares had consolidated
assets of $527.5 million. The Bank operates three full-service
offices in Arlington Heights, Des Plaines and Schaumburg.
