SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-KSB (Amended)
Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934 For fiscal year ended September 30, 1997
Transition report under Section 13 or 15(d) of the Securities Exchange
Act of 1934
For the transition period from ____________________ to ____________________
Commission file number 0-25300
HARVEST HOME FINANCIAL CORPORATION
(Exact name of Registrant as specified in its charter)
Ohio 31-1402988
(State or other Jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
3621 Harrison Avenue, Cheviot, Ohio 45211
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (513) 661-6612
Securities registered pursuant to 12(b) of the Exchange Act:
None
(Title of Class)
Securities registered under Section 12(g) of the Exchange Act:
Common shares without par value
(Title of Class)
Indicate by checkmark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
X YES NO
Check if there is no disclosure of delinquent filers in response to Item
405 of Regulation S-B is not contained in this form, and no disclosure will be
contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this Form 10-KSB.
State issuer's revenues for its most recent fiscal year. $6.0 million
Based upon the bid price provided by the NASDAQ system, the aggregate
market value of voting stock held by non-affiliates of the issuer on December
26, 1997 was $14.50.
914,857 shares of issuer's common shares were issued and outstanding as of
December 26, 1997, this total is net of 77,018 shares of issuer's common stock
repurchased as treasury shares.
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Item 6. Management's Discussion and Analysis of Financial Condition and Results
of Operations
Other Matters
As with all providers of financial services, the Corporation's operations are
heavily dependent on information technology systems. The Corporation is
addressing the potential problems associated with the possibility that the
computers that control or operate the Corporation's information technology
system and infrastructure may not be programmed to read four-digit date codes
and, upon arrival of the year 2000, may recognize the two-digit code "00" as the
year 1900, causing systems to fail to function or to generate erroneous data.
The Corporation is working with the companies that supply or service its
information technology systems to identify and remedy any year 2000 related
problems.
As of the date of this Form 10-KSB, the Corporation has not identified any
specific expenses that are reasonably likely to be incurred by the Corporation
in connection with this issue and does not expect to incur significant expense
to implement the necessary corrective measures. No assurance can be given,
however, that significant expense will not be incurred in future periods. In the
event that the Corporation is ultimately required to purchase replacement
computer systems, programs and equipment, or incur substantial expense to make
the Corporation's current systems, programs and equipment year 2000 compliant,
the Corporation's net earnings and financial condition could be adversely
affected.
In addition to possible expenses related to its own systems, the Corporation
could incur losses if loan payments are delayed due to year 2000 problems
affecting any major borrowers in the Corporation's primary market area. Because
the Corporation's loan portfolio is highly diversified with regard to individual
borrowers and types of businesses and the Corporation's primary market area is
not significantly dependent upon one employer or industry, the Corporation does
not expect any significant or prolonged difficulties that will affect net
earnings or cash flow.
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Item 7. Consolidated Financial Statements
Report of Independent Certified Public Accountants
Board of Directors
Harvest Home Financial Corporation
We have audited the accompanying consolidated statements of financial condition
of Harvest Home Financial Corporation as of September 30, 1997 and 1996, and the
related consolidated statements of earnings, stockholders' equity, and cash
flows for each of the three years ended September 30, 1997, 1996 and 1995. These
consolidated financial statements are the responsibility of the Corporation's
management. Our responsibility is to express an opinion on these consolidated
financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a text basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the consolidated financial position of Harvest Home
Financial Corporation as of September 30, 1997 and 1996, and the consolidated
results of its operations and its cash flows for each of the years ended
September 30, 1997, 1996 and 1995, in conformity with generally accepted
accounting principles.
Cincinnati, Ohio
November 19, 1997 Grant Thornton, LLP
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SIGNATURES
Dennis J. Slattery
Executive Vice President
Principal Accounting Officer
(There is no separate Principal Financial Officer)
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<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
HARVEST HOME
/s/John E. Rathkamp
John E. Rathkamp
President and Director (Principal Executive
Officer)
Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been duly signed below by the following persons on behalf of the registrant
and in the capacities and on the dates indicated.
By/s/Dennis J. Slattery By/s/Richard F. Hauck
Dennis J. Slattery Richard F. Hauck
Executive Vice President Vice President and Director
(Principal Accounting Officer)
Date September 4, 1997 Date September 4, 1997
By/s/Walter A. Schuch By/s/Thomas L. Eckert
Walter A. Schuch Thomas L. Eckert
Director Director
Date September 4, 1997 Date September 4, 1997
By/s/Marvin J. Ruehlman By/s/Herbert E. Menkhaus
Marvin J. Ruehlman Herbert E. Menkhaus
Director Director
Date September 4, 1997 Date September 4, 1997
By/s/George C. Eyrich
George C. Eyrich
Director
Date September 4, 1997
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