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UNITED STATES
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) July 25, 1996
NORTH BANCSHARES, INC.
(Exact name of Registrant as specified in its Charter)
Delaware 0-22800 36-3915073
(State or other (commission file number) (IRS Employer
jurisdiction of Identification
incorporation) number)
100 West North Avenue, Chicago, Illinois 60610
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (312) 664-4320
N/A
Former name or former address, if changed since last report)
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Item 5. Other Events
On July 25, 1996, the Registrant issued the attached press
release.
Item 7. Financial Statements and Exhibits
(a) Exhibits
1. Press Release, dated July 25, 1996, regarding
a stock repurchase program.
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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 hereunto duly authorized.
NORTH BANCSHARES, INC.
(Registrant)
Date: July 25, 1996 /S/ Joseph A. Graber
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Joseph A. Graber
President
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EXHIBIT
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NORTH BANCSHARES, INC. NEWS RELEASE
IMMEDIATE DATE: July 25, 1996
Joseph A. Graber, President
Victor E. Caputo, Executive Vice-President
(312) 664-4320
NORTH BANCSHARES, INC.
ANNOUNCES
STOCK REPURCHASE PROGRAM
Chicago, Illinois, July 25, 1996 - North Bancshares, Inc.,
(NASDAQ/NBSI), the holding company for North Federal Savings Bank,
today announced its intention to repurchase 5%, or 55,681 of its
outstanding shares of common stock over a one year period. This
will be the Company's sixth stock repurchase program with the
shares repurchased at prevailing market prices in open market
transactions from time to time, subject to availability or in
unsolicited privately negotiated transactions.
Mary Ann Hass, Chief Executive Officer of the Corporation,
indicated that the Board of Directors approved the repurchase
program in view of the current price level of the Corporation's
common stock, the strong capital position of the Corporation's
subsidiary, North Federal Savings Bank and as part of the strategic
plan to improve shareholder value. The repurchased shares will
become treasury shares and will be used for general corporate
purposes, including the issuance of shares in connection with the
exercise of stock options.
North Federal Savings Bank primarily serves the North side of
Chicago from its home office and operates a branch office in
Wilmette, Illinois. The bank has received a five star rating for
31 consecutive quarters from Bauer Financial Reports, Inc.
North Bancshares, Inc. common stock is traded on the Nasdaq Stock
Market under the symbol: "NBSI."
