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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)
October 2, 1997
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OTTAWA FINANCIAL CORPORATION
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(Exact name of Registrant as specified in its Charter)
Delaware 0-24118 38-3172166
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(State or other (Commission (IRS Employer
jurisdiction of File No.) Identification
incorporation) Number)
245 Central Avenue, Holland, Michigan 49423
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (616) 393-7000
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N/A
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(Former name or former address, if changed since last Report)
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Item 5. Other Events
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On October 2, 1997, the Registrant issued the attached press
release announcing the adjustments to its outstanding warrants as
a result of the Registrant's recently declared stock dividend.
The foregoing information does not purport to be complete and
is qualified in its entirety by reference to the Exhibit to this
Report.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits
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(c) Exhibit:
Exhibit 99 - Press Release dated October 2, 1997.
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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 thereunto duly authorized.
OTTAWA FINANCIAL CORPORATION
Date: 10/2/97 By: /s/ Jon W. Swets
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Jon W. Swets
Chief Financial Officer
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EXHIBIT INDEX
Exhibit No. Description
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99 Press Release dated October 2, 1997
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OTTAWA FINANCIAL CORPORATION 245 Central Avenue, Holland, MI
49423-3298/(616)393-7000
[OTTAWA LOGO]
FOR IMMEDIATE RELEASE
October 2, 1997
CONTACT: Douglas J. Iverson, EVP & COO
(616) 393-7002
Jon W. Swets, VP & Treasurer
(616) 393-7115
EFFECT OF STOCK DIVIDEND ON OTTAWA
FINANCIAL CORPORATION WARRANT HOLDERS
HOLLAND, MICHIGAN, October 2, 1997 -- Ottawa Financial Corporation,
as previously announced, paid a 10% stock dividend on September 30, 1997 to
shareholders of record on September 12, 1997. Upon the issuance of a stock
dividend, the Corporation's Warrant Agreement requires adjustment to the
warrant exercise price and number of shares issuable upon exercise of
warrants.
Prior to the stock dividend, each warrant entitled the holder to purchase one
share of Ottawa common stock at an exercise price of $17.50. Effective
September 30, 1997, each warrant allows the holder to purchase 1.1 shares of
common stock at a price of $15.91 per share reflecting a proportionate
adjustment as a result of the 10% stock dividend.
Ottawa Financial Corporation, through its subsidiary, AmeriBank,
operates 26 retail offices in six counties located in West Michigan
and had total assets of $861.3 million as of June 30, 1997. The
Corporation's stock is traded on the Nasdaq National Market under
the symbol "OFCP".
