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
January 27, 2000
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(Date of earliest event reported)
WVS Financial Corp.
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(Exact name of registrant as specified in its charter)
Pennsylvania 0-22444 25-1710500
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(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
9001 Perry Highway, Pittsburgh, Pennsylvania 15237
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(Address of principal executive offices) (Zip Code)
(412) 364-1913
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name, former address and former fiscal year,
if changed since last report)
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Item 5. Other Items
On January 25, 2000, WVS Financial Corp. (the "Company"), the holding
company for West View Savings Bank (the "Savings Bank"), announced that the
Company's Board of Directors authorized the repurchase of up to 200,000 shares,
or approximately 6.76%, of the Company's outstanding common stock. For
additional information, reference is made to the Press Release, dated January
27, 2000, which is attached hereto as Exhibit 99 and is incorporated herein by
reference.
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<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: January 27, 2000 By: /s/ David J. Bursic
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David J. Bursic
President and
Chief Executive Officer
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EXHIBIT 99
Release Date: Further Information:
IMMEDIATE RELEASE David J. Bursic
January 27, 2000 President and
Chief Executive Officer
-or-
Pamela M. Tracy
Investor Relations
Phone: (412) 364-1913
WVS FINANCIAL CORP. TO REPURCHASE
UP TO 200,000 SHARES OF COMMON STOCK
PITTSBURGH, PENNSYLVANIA--WVS Financial Corp. (NASDAQ:WVFC), the
holding company for West View Savings Bank, announced today that the Company's
Board of Directors authorized the repurchase of up to 200,000 shares, or
approximately 6.76%, of the Company's outstanding common stock.
David J. Bursic, President and Chief Executive Officer of the Company,
stated: "I am pleased to announce that WVS Financial Corp. will continue and
expand our stock repurchases under the Fourth Stock Repurchase Program. We
believe that WVS Financial Corp.'s shares are a good value in today's
marketplace and the repurchase of our shares represents an attractive investment
opportunity which will benefit the Company and its shareholders."
Mr. Bursic further noted: "The Company's record earnings, attractive
dividend yield of 5.45% and a strong 18.3% (annualized) fiscal year to date
growth in assets have resulted in an impressive return on equity of 17.00% for
the six months ended December 31, 1999 as compared to 11.3% for the same period
in 1998. The Company's Fourth Stock Repurchase confirms our continuing
commitment to enhance shareholder value."
Repurchases are authorized to be made by the Company from time to time
in open-market transactions during the next twelve months as, in the opinion of
management, market conditions warrant. The repurchased shares will be held as
treasury stock and may be reserved for issuance pursuant to the Company's stock
benefit plans.
WVS Financial Corp. owns 100% of the outstanding common stock of West
View Savings Bank. The Savings Bank is a Pennsylvania-chartered, FDIC-insured
savings bank which conducts business in the North Hills suburbs of Pittsburgh,
Pennsylvania.
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