WESTERFED FINANCIAL CORP
8-K, 2000-04-11
SAVINGS INSTITUTION, FEDERALLY CHARTERED
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                       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)
                                April 3, 2000


                         WESTERFED FINANCIAL CORPORATION
- --------------------------------------------------------------------------------
             (Exact name of Registrant as specified in its Charter)



   Delaware                         0-22772                        81-0487794
- --------------------------------------------------------------------------------
(State or other              (Commission File No.)               (IRS Employer
 jurisdiction of                                                 Identification
 incorporation)                                                      Number)


   110 East Broadway, Missoula, Montana                                59802
- --------------------------------------------------------------------------------
(Address of principal executive offices)                            (Zip Code)



Registrant's telephone number, including area code:              (406) 721-5254
- --------------------------------------------------------------------------------


                                       N/A
- --------------------------------------------------------------------------------
          (Former name or former address, if changed since last report)



<PAGE>

Item 5.      OTHER EVENTS

               On April 3, 2000 the Registrant issued the press release attached
               as Exhibit 99.


Item 7.      FINANCIAL STATEMENTS AND EXHIBITS

               (a) Exhibits

                   99.1 Press Release dated April 3, 2000.




































                                        2


<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: April 3, 2000                       By: /s/ Ralph K. Holliday
      -----------------                       ---------------------------------

                                              Ralph K. Holliday
                                              President/Chief Executive Officer











































                                        3



<PAGE>
                                                                    EXHIBIT 99.1

                    WESTERFED FINANCIAL CORPORATION ANNOUNCES
                          INCREASED QUARTERLY DIVIDEND

         Missoula,  Montana - April 3, 2000 -  WesterFed  Financial  Corporation
(the "Company")  (NASDAQ - WSTR),  the holding company for Western Security Bank
(the "Bank"),  announced it will pay a regular cash dividend of $0.165 per share
for the quarter  ended March 31,  2000.  The $0.165 per share will be payable on
April  27,  2000 to  stockholders  of  record on April  13,  2000.  The  regualr
quarterly cash dividend of $0.165  represents an increase of 3.1% over the prior
quarter's regular cash  dividend of $0.160 per share.  The Company has increased
regular cash dividends every quarter since becoming a public company.

         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, EVP/Treasurer/CFO
         (406) 721-5254





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