UNITED STATES SECURITY AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
- ----- SECURITIES EXCHANGE ACT OF 1934
For the quarter period ended March 31, 1996
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE -----
SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
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Commission file number 0-22772
---------
WESTERFED FINANCIAL CORPORATION
-------------------------------------------------------
(Exact name of registrant as specified in this charter)
DELAWARE 81-0487794
- ---------------------------------------- -------------------
(State or other jurisdiction of (IRS Employer ID #)
incorporation or organization
110 East Broadway, Missoula, Montana 59802
- ---------------------------------------- -------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number,
including area code 406-721-5254
-------------------
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports) and (2) has been subjected to
such filing requirements for the past 90 days.
Yes X No
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The number of shares outstanding of each of the Issuer's
Classes of Common Stock, as of the latest date is:
Class: Common Stock, Par Value $0.01 per share; Outstanding at March 31, 1996
-- 4,533,752 shares (including restricted shares)
EXHIBIT INDEX
- ---------------
EXHIBIT
NO. DESCRIPTION
- ------- -----------
27 Financial Data Schedule, which is submitted
electronically to the Securities and Exchange
Commission for information only and not filed.
<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:
WESTERFED FINANCIAL CORPORATION
Date June 24, 1996 /s/ Lyle R. Grimes
----------------------- -------------------------------
Lyle R. Grimes
President and Chief Executive
Officer
(Duly Authorized Officer)
Date June 24, 1996 /s/ James A. Salisbury
----------------------- -------------------------------
James A. Salisbury
Treasurer and Chief Financial
Officer
(Principal Finance and
Accounting Officer)
<TABLE> <S> <C>
<ARTICLE> 9
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
QUARTERLY REPORT ON FORM 10 FOR THE FISCAL QUARTER ENDED MARCH 31, 1996
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> JUN-30-1995
<PERIOD-END> MAR-31-1996
<CASH> 7,225
<INT-BEARING-DEPOSITS> 9,532
<FED-FUNDS-SOLD> 0
<TRADING-ASSETS> 0
<INVESTMENTS-HELD-FOR-SALE> 105,383
<INVESTMENTS-CARRYING> 82,698
<INVESTMENTS-MARKET> 83,198
<LOANS> 361,906
<ALLOWANCE> 2,007
<TOTAL-ASSETS> 588,255
<DEPOSITS> 356,332
<SHORT-TERM> 30,781
<LIABILITIES-OTHER> 11,974
<LONG-TERM> 111,066
<COMMON> 46
0
0
<OTHER-SE> 78,056
<TOTAL-LIABILITIES-AND-EQUITY> 588,255
<INTEREST-LOAN> 21,034
<INTEREST-INVEST> 10,690
<INTEREST-OTHER> 135
<INTEREST-TOTAL> 31,859
<INTEREST-DEPOSIT> 12,145
<INTEREST-EXPENSE> 18,689
<INTEREST-INCOME-NET> 13,170
<LOAN-LOSSES> 0
<SECURITIES-GAINS> 404
<EXPENSE-OTHER> 1,840
<INCOME-PRETAX> 5,421
<INCOME-PRE-EXTRAORDINARY> 3,331
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 3,331
<EPS-PRIMARY> .74
<EPS-DILUTED> .74
<YIELD-ACTUAL> 0
<LOANS-NON> 134
<LOANS-PAST> 294
<LOANS-TROUBLED> 0
<LOANS-PROBLEM> 198
<ALLOWANCE-OPEN> 2,011
<CHARGE-OFFS> 8
<RECOVERIES> 4
<ALLOWANCE-CLOSE> 2,007
<ALLOWANCE-DOMESTIC> 0
<ALLOWANCE-FOREIGN> 0
<ALLOWANCE-UNALLOCATED> 0
</TABLE>
