SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: October 20, 1998
MCB FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
California 033-76832 68-0300300
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
1248 Fifth Avenue, San Rafael, California 94901
(Address of principal executive offices)
(415) 459-2265
(Registrant's telephone number)
INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events
The Board of Directors of MCB Financial Corporation (the "Company") authorized
an additional Common Stock Repurchase Program (the "Program") at a Board of
Directors meeting held on October 8, 1998. The Board of Directors authorized
the Company to repurchase an additional $500,000 of the Company's common stock
in addition to the $500,000 authorized pursuant to the existing repurchase
program announced in 1994 (the "Existing Program").
During the past month, the Company repurchased 45,492 shares, or $395,000, of
its common stock under the Existing Program. With these transactions, the
Company has now repurchased a total of $500,000 of common stock under the
Existing Program, the maximum amount authorized.
The new Program authorizes the Company to repurchase and retire up to $500,000
of its common stock in open market and private transactions from time to time
depending on market conditions. As of October 19, 1998, the Company had
2,031,271 shares of common stock outstanding.
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.
MCB FINANCIAL CORPORATION
(Registrant)
Date: October 20, 1998 /s/ Patrick E. Phelan
Patrick E. Phelan
Chief Financial Officer
(Principal Accounting Officer and officer
authorized to sign on behalf of the
registrant)
