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) November 24, 1997
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)
Item 5. Other Events
On November 24, 1997, the Registrant issued the attached press
release.
Item 7. Financial Statements and Exhibits
(a) Exhibits
1. Press Release, Dated November 24, 1997, regarding a three-for-two
stock split.
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: November 24, 1997 /S/ Joseph A. Graber
----------------------
Joseph A. Graber
President
EXHIBIT
NORTH BANCSHARES, INC NEWS RELEASE
RELEASE: IMMEDIATE DATE: November 24, 1997
CONTACT: Joseph A. Graber, President
Victor E. Caputo, Executive Vice-President
(312) 664-4320
NORTH BANCSHARES, INC.
DECLARES
THREE-FOR-TWO STOCK SPLIT
Chicago, Illinois, November 24, 1997, - North Bancshares, Inc., (NASDAQ-NBSI),
the holding company for North Federal Savings Bank, announces that the Board
of Directors of the Company has declared a three-for-two stock split payable
in the form of a 50%, or one-for-two stock dividend. Stockholders of record
as of December 8, 1997 will be eligible to receive the stock dividend which
will be distributed on December 29, 1997. The dividend will be paid out of
authorized but unissued shares of common stock of the Company.
Mary Ann Hass, Chairman and Chief Executive Officer, commented:
"After distribution of this stock dividend the amount of public float, i.e.
the number of shares not controlled by insiders, will exceed the number of
outstanding shares required by the Nasdaq Stock Market to maintain the
Company's listing on the National Market System. Therefore, the Company's
stock will continue to be traded on the Nasdaq National Market system rather
than moving to the Nasdaq SmallCap market." She added, that "the Board of
Directors declared this stock split in order to reduce the price per share and
to increase the market lquidity for the purpose of enhancing the securities
appeal to investors."
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 37 consecutive quarters from Bauer
Financial Reports, Inc., and is rated one of the best in the nation by
sheshunoff Information Services, Inc. Visit our Web site at
http://northfederal.com to read previous press releases, examine filings with
the SEC, read about our history, and check out our products, services and
interest rates.
North Bancshares, Inc. common stock is traded on The Nasdaq Stock Market
under the symbol: "NBSI."
