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
June 19, 1998
- --------------------------------------------------------------------------------
(Date of earliest event reported)
WVS Financial Corp.
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Pennsylvania 0-22444 23-1710500
- --------------------------------------------------------------------------------
(State or other (Commission (IRS Employer
jurisdiction of incorporation) File Number) Identification No.)
9001 Perry Highway, Pittsburgh, Pennsylvania 15237
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
(412) 364-1911
- --------------------------------------------------------------------------------
(Registrant's telephone number, including area code)
Not Applicable
- --------------------------------------------------------------------------------
(Former name, former address and former fiscal year, if changed since last
report)
<PAGE>
Item 5. Other Items
On June 19, 1998, WVS Financial Corp. (the "Company"), the holding
company for West View Savings Bank (the "Savings Bank"), announced that Robert
C. Sinewe, President and Chief Executive Officer, and a director of the Company
and the Savings Bank has retired. The Boards of Directors have appointed David
J. Bursic, who currently serves as Vice President, Treasurer and Chief Financial
Officer of the Company and the Savings Bank, to serve as President and Chief
Executive Officer of the Company and the Savings Bank. For additional
information, reference is made to the Press Release, dated June 19, 1998, which
is attached hereto as Exhibit 99 and is incorporated herein by reference.
<PAGE>
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.
WVS FINANCIAL CORP.
Dated: June 19, 1998 By: /s/ David J. Bursic
-------------------
David J. Bursic
President and
Chief Executive Officer
EXHIBIT 99
Release Date: Further Information:
FOR IMMEDIATE RELEASE James S. McKain, Jr.
June 19, 1998 Chairman of the Board
of Directors
- or -
David J. Bursic
President and
Chief Executive Officer
Phone: (412) 364-1911
WVS FINANCIAL CORP. (NASDAQ:WVFC) AND WEST VIEW SAVINGS BANK
ANNOUNCE THE RETIREMENT OF ROBERT SINEWE AND THE APPOINTMENT
OF DAVID J. BURSIC AS PRESIDENT AND CHIEF EXECUTIVE OFFICER.
PITTSBURGH, PA -- After serving as President and CEO of West View Savings Bank
for over seventeen years and President and CEO of WVS Financial Corp. since its
formation in 1993, Robert C. Sinewe has announced his retirement. Mr. Sinewe
noted that "After serving 28 years as an officer and employee of West View
Savings it is time for me to step aside in order that I may pursue other
personal interests."
The Board of Directors of WVS Financial Corp. and of West View Savings
were understanding of Mr. Sinewe's desire to pursue these other interests. Each
Board acknowledged Mr. Sinewe's many contributions to both West View Savings and
WVS Financial Corp., including his leadership in West View Savings mutual to
stock conversion in 1993 and WVS Financial Corp.'s successful operation as a
public company over the past five years. On behalf of its employees and
stockholders, the Boards of Directors expressed their best wishes to Mr. Sinewe
in his future endeavors.
The Boards of Directors have appointed David J. Bursic, who currently
serves as Vice President, Treasurer and Chief Financial Officer of WVS Financial
Corp. and West View Savings, to serve as President and CEO of both WVS Financial
Corp. and West View Savings. Mr. Bursic has been an employee of the companies
for thirteen years and an executive officer since 1992. James S. McKain, Jr.,
Chairman of the Board of Directors, stated "We are very fortunate to have an
individual as experienced and as qualified as Dave Bursic to succeed Bob Sinewe.
Dave is extremely knowledgeable about all aspects of operations of West View
Savings and WVS Financial Corp." Mr. Sinewe stated that "Dave Bursic and I have
worked closely together for many years and Dave is well suited to succeed me as
President."
WVS Financial Corp. owns 100% of the outstanding common stock of West
View Savings Bank. The Savings Bank is a Pennsylvania-chartered, FDIC savings
bank which conducts business from six offices located in the North Hills suburbs
of Pittsburgh, Pennsylvania. At March 31, 1998 WVS Financial Corp. had total
assets of $298 million, total deposits of $165 million and shareholders' equity
of $32.8 million.
