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) February 3, 2000
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 Jurisdiction Number) Identification
No.) 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 Thursday, February 3, 2000, the Company issued a press release
pertaining to completion of their 17th and announcing their 18th
Stock Repurchase Program. The text of the press release is attached
hereto as Exhibit 99.1.
SIGNATURE
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: February 3, 2000 COVEST BANCSHARES, INC.
By: /s/ James L. Roberts
_______________________
James L. Roberts
President and
Chief Executive Officer
By: /s/ Paul A. Larsen
____________________________
Paul A. Larsen
Executive Vice President and
Chief Financial Officer
Item 7. EXHIBIT 99.1
CoVest Bancshares, Inc. Announces 18th Stock Repurchase Program
DES PLAINES, IL, February 3, 2000 -- CoVest Bancshares, Inc. (Nasdaq/COVB),
the holding company for CoVest Banc, Des Plaines, Illinois, announced
the completion of the Stock Repurchase Program dated June 30, 1999.
A total of 100,000 shares were repurchased at an average price of $14.84.
The Company's Board of Directors has approved a new Stock Repurchase
Program, the Company's eighteenth, 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 4,100,545.
As of December 31, 1999, CoVest Bancshares, Inc. had consolidated assets
of $568 million. The Bank operates three full-service offices in
Arlington Heights, Des Plaines and Schaumburg, and a mortgage office in
McHenry, Illinois.
