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) September 1, 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 Friday, September 1, 2000, the Company issued a press release pertaining
to completion of their 19th and announcing their 20th 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: September 1, 2000
COVEST BANCSHARES, INC.
/s/ JAMES L. ROBERTS
JAMES L. ROBERTS
PRESIDENT AND
CHIEF EXECUTIVE OFFICER
/s/ PAUL A. LARSEN
PAUL A. LARSEN
EXECUTIVE VICE PRESIDENT AND
CHIEF FINANCIAL OFFICER
Item 7. EXHIBIT 99.1
CoVest Bancshares, Inc. Announces 20th Stock Repurchase Program
DES PLAINES, IL, September 1, 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, 2000. A total of 100,000 shares were repurchased at
an average price of $10.93.
The Company's Board of Directors has approved a new Stock Repurchase
Program, the Company's twentieth, 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 3,933,761.
As of June 30, 2000, CoVest Bancshares, Inc. had consolidated assets
of $554 million. The Bank operates three full-service offices in
Arlington Heights, Des Plaines and Schaumburg, Illinois.
