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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 (Date of earliest event reported)
June 24, 1996
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GFS BANCORP, INC.
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(Exact name of Registrant as specified in its Charter)
Delaware 0-22742 42-1410536
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(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification
Number)
1025 Main Street, Grinnell, Iowa 50112-1633
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (515) 236-3121
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N/A
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(Former name or former address, if changed since last report)
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Item 5. Other Events
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On June 24, 1996, the Registrant issued the attached press release
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announcing the increase in the registrants quarterly cash dividend.
Item 7. Financial Statements and Exhibits
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(a) Exhibits
99. Press release, dated June 24, 1996.
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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.
GFS BANCORP, INC.
Date: June 26, 1996 By: /s/ Steven L. Opsal
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Steven L. Opsal
President and Chief
Executive Officer
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[LETTERHEAD OF GFS BANCORP, INC.]
FOR FURTHER INFORMATION CONTACT:
STEVEN L. OPSAL, PRESIDENT FOR IMMEDIATE RELEASE
GFS BANCORP, INC. JUNE 24, 1996
P.O. BOX 30
GRINNELL, IOWA 50112
PHONE: (515) 236-3121
GFS BANCORP, INC.
DECLARES INCREASE IN CASH DIVIDEND
GRINNELL, IOWA (NASDAQ: "GFSB") --- GFS Bancorp, Inc., the parent company for
Grinnell Federal Savings Bank, is pleased to announce that the Corporation will
pay a cash dividend of 10 cents ($.10) per share for the fourth quarter of 1996.
The dividend will be payable on July 26, 1996 to shareholders of record on July
12, 1996. This reflects a 33% increase over the $.075 per share cash dividend
paid in the four previous quarters.
GFS Bancorp serves primarily Poweshiek County, and, to a lesser extent, portions
of Marshall, Iowa, Mahaska, Tama and Jasper Counties, Iowa through its office
located at 1025 Main Street, Grinnell, Iowa. At March 31, 1996, GFS Bancorp
exceeded all applicable regulatory capital requirements on a fully phased-in
basis.
As of March 31, 1996, the Company had total assets of $80.9 million and
stockholders' equity of $9.7 million. The Company's stock is traded on the
Nasdaq SmallCap Market under the symbol "GFSB".
