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) February 4, 1998
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 February 4, 1998, the Registrant issued the attached press
release.
Item 7. Financial Statements and Exhibits
(a) Exhibits
1. Press release, dated February 4, 1998, regarding stock
repurchase programs.
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: February 4, 1998 /S/ Joseph A. Graber
----------------------
Joseph A. Graber
President
EXHIBIT
NORTH BANCSHARES, INC NEWS RELEASE
RELEASE: IMMEDIATE DATE: February 4, 1998
CONTACT: Joseph A. Graber, President
Victor E. Caputo, Executive Vice-President
(312) 664-4320
NORTH BANCSHARES, INC.
ANNOUNCES
COMPLETION OF NINTH STOCK REPURCHASE PROGRAM
BEGIN TENTH STOCK REPURCHASE PROGRAM
Chicago, Illinois, February 46, 1998, - North Bancshares, Inc., (NASDAQ-NBSI),
the holding company for North Federal Savings Bank, today announces the
completion of its ninth stock repurchase program. As earlier announced and
authorized, 75,000 shares or approximately 5.3% of its outstanding shares of
common stock were purchased in open market transactions or in privately
negotiated transactions. The shares were repurchased at an average price of
$16.60 per share.
In addition, the Company announces its intention to repurchase 75,000 shares
of its common stock in open market transactions or in privately negotiated
transactions over a period of one year. This will be the tenth stock
repurchase program initiated by the Company and amounts to approximately 5.5%
of the outstanding shares. The Company currently has 1,355,001 shares
outstanding.
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 38 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
www.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."
