SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 of 15(d) of
the Securities Exchange Act of 1934
Date of Report: June 19, 1997
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(Date of earliest event reported)
Tri-County Bancorp, Inc.
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(Exact name or Registrant as specified in its Charter)
WYOMING 0-22220 83-0304855
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(State or Other Jurisdiction of (SEC File No.) (IRS Employer
Incorporation or Organization) Identification No.)
2201 MAIN STREET, TORRINGTON, WY 82240
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number and area code: (307)532-2111
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N/A
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(Former Name, Former Address and Former Fiscal Year, if Changed
Since Last Report)
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TRI-COUNTY BANCORP, INC.
Information to be included in report
ITEM 5. Other Events
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The Registrant announced that the Board of Directors has authorized the
Registrant to repurchase up to $600,000 worth of its outstanding stock, over
a period of time in open market transactions.
For further details, reference is made to the Press Release dated June 19,
1997 which is attached hereto as Exhibit 99 and incorporated herein by this
reference.
ITEM 7. Financial Statement and Exhibits
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Exhibit 99 - Press Release Dated June 19, 1997
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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 thereunto duly authorized.
TRI-COUNTY BANCORP, INC. AND SUBSIDIARIES
Date: June 19, 1997 By: Robert L. Savage
President and Chief Executive Officer
Date: June 19, 1997 By: Tommy A. Gardner
Vice President and Controller
/TEXT
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
PRESS RELEASE June 19, 1997
For more information contact:
Robert L. Savage, President
Tri-County Federal Savings Bank
2201 Main Street, P.O. Box 1057
Torrington, WY 82240
(307)532-2111
TRI-COUNTY BANCORP, INC. ANNOUNCES
STOCK REPURCHASE PROGRAM
Torrington, Wyoming -- June 18, 1997 -- Tri-County Bancorp, Inc., Torrington,
Wyoming (the "Corporation"), the parent holding company of Tri-County Federal
Savings Bank (the "Savings Bank"), announced today that the Corporation's
Board of Directors had approved a stock repurchase program. The Corporation
may repurchase $600,000 worth of its outstanding Common Stock over a period of
time in open market transactions. The stock repurchase will result in an
increase in the percent of ownership of Common Stock of non-tendering
"insiders."
As of March 31, 1997, the Corporation had 608,749 shares of Common Stock
outstanding and $13.2 million in stockholders' equity. "With the Common Stock
currently trading at approximately $20.50 per share or 94.8 percent of book
value, the Corporation's Board believes that the purchase of its own stock is
an excellent investment," commented Robert L. Savage, President of the
Corporation. "The Board of Directors believes that it is in the best interest
of the Corporation and its stockholders to repurchase some of its outstanding
Common Stock in view of its present trading price, the Corporation's earnings
and the Corporation's high level of capital."
The Savings Bank is a community-oriented retail savings institution offering
traditional deposit and mortgage loan products. Since being founded in 1935,
Tri-County Federal Savings Bank has focused on serving its customers located
primarily in and around Goshen and Platte Counties, Wyoming. Tri-County
Federal Savings Bank provides retail-banking services, with emphasis on one-
to-four family residential mortgages from its home office located in
Torrington, Wyoming and a branch office in Wheatland, Wyoming. At March 31,
1997, the Corporation and its subsidiary had total assets, deposits and
stockholders' equity of $86.0 million, $48.9 million and $13.2 million,
respectively. The Corporation's Common Stock is traded in the over-the-
counter market on the Nasdaq System under the symbol "TRIC."
