SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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)
December 4, 1999
WESTERFED FINANCIAL CORPORATION
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(Exact name of Registrant as specified in its Charter)
Delaware 0-22772 81-0487794
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(State or other (Commission File No.) (IRS Employer
jurisdiction of Identification
incorporation) Number)
110 East Broadway, Missoula, Montana 59802
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (406) 721-5254
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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
On December 4, 1999 the Registrant issued the press release
attached as Exhibit 99.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Exhibits
99.1 Press Release dated December 3, 1999.
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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.
WesterFed Financial Corporation
Date: December 6, 1999 By: /s/Lyle R. Grimes
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Lyle R. Grimes
President/Chief Executive Officer
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EXHIBIT 99
WESTERFED FINANCIAL CORPORATION
NAMES NEW PRESIDENT/CHIEF EXECUTIVE OFFICER
Missoula, Montana - December 3, 1999 - The Board of Directors of WesterFed
Financial Corporation (the "Company") (NASDAQ - WSTR), the holding company for
Western Security Bank (the "Bank"), announced that on November 23, 1999, Ralph
K. Holliday was elected to the position of President and Chief Executive
Officer, filling the vacancy created by Lyle Grimes' retirement from that
position. Mr. Grimes served as President/Chief Executive Officer of the Company
since its inception in January of 1994. Mr. Grimes will continue to serve as
Chairman of the Board for both the Company and the Bank. Mr. Holliday will also
fill a newly created Director position with the Company's Board, raising the
total number of directors from eight to nine.
Ralph Holliday joined the Bank as President/Chief Executive Officer and
Director in April of 1999, bringing thirty-seven years of commercial and retail
banking experience in the Northwest to the Company. Mr. Grimes stated "Mr.
Holliday's commercial banking background has proved very valuable to the Company
as it moves from a thrift-based operation to a commercial banking operation.
This change completes Mr. Holliday's assumption of the leadership of the
organization and emphasizes the Board of Directors' commitment to the full
service commercial banking organization."
WesterFed Financial Corporation's only subsidiary, Western Security Bank,
which is Montana's largest savings bank, operates thirty-four offices in twenty
Montana communities.
CONTACT: James A. Salisbury, Treasurer/Chief Financial Officer
(406) 721-5254
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