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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)
November 13, 1998
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 November 13, 1998, Ottawa Financial Corporation (the "Corporation")
issued the attached press release announcing the retirement of Gordon L.
Grevengoed, Vice Chairman of the Board, President and CEO of the Corporation,
effective December 31, 1998. Mr. Grevengoed will also retire as Vice Chairman
and CEO of AmeriBank, the Corporation's wholly-owned subsidiary, effective as
of the same date. He will continue to serve as a board member of both the
Corporation and of AmeriBank.
Douglas J. Iverson, currently the Executive Vice President of the
Corporation and the President of AmeriBank, has been appointed to succeed Mr.
Grevengoed as Chief Executive Officer and Vice Chairman of the Board of the
Corporation and AmeriBank. Ronald L. Haan, currently the Senior Vice
President of the Corporation and the Executive Vice President and Chief
Operating Officer of AmeriBank, has been appointed as President and Chief
Operating Officer of the Corporation and AmeriBank. Mr. Iverson and Mr. Haan
will begin serving in their new positions effective January 1, 1999.
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 November 13, 1998.
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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: November 18, 1998 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 November 13, 1998
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OTTAWA FINANCIAL CORPORATION 245 Central Avenue, Holland,
MI 49423-3298/(616)393-7000
[OTTAWA LOGO]
FOR IMMEDIATE RELEASE
November 13, 1998
CONTACT: Gordon L. Grevengoed, President
(616) 393-7001
OTTAWA FINANCIAL CORPORATION
ANNOUNCES GREVENGOED'S RETIREMENT AND SUCCESSION
HOLLAND, MICHIGAN, November 13, 1998 - Gordon H. Cunningham, Chairman of the
Board of Ottawa Financial Corporation, announced today that Gordon L.
Grevengoed, Vice Chairman of the Board, President and CEO of the Corporation,
will retire effective December 31, 1998. Mr. Grevengoed will also retire as
Vice Chairman and CEO of AmeriBank at the same time. AmeriBank is a wholly
owned subsidiary of Ottawa Financial Corporation. Mr. Grevengoed has been
with the Bank for 42 years and has been the President and CEO of Ottawa
Financial Corporation since its incorporation in 1994. He will continue to
serve as a member of the Board of Directors of both the Corporation and the
Bank.
The Board of Directors appointed Douglas J. Iverson as CEO and Vice Chairman
of the Board of both Ottawa Financial Corporation and AmeriBank, effective
January 1, 1999. The Board of Directors also appointed Ronald L. Haan as
Chief Operating Officer and President of the Corporation and AmeriBank.
Mr. Cunningham stated: "The Board of Directors is fortunate to have two very
talented individuals to lead the Company as we move into the new millennium.
Both of these men are experienced, extremely gifted, and are well regarded in
their communities and in the financial arena."
Mr. Iverson has been with AmeriBank for 26 years and President since February
1996. He has also been the Executive Vice President of Ottawa Financial
Corporation since its incorporation in 1994. Mr. Haan had been President of
the former AmeriBank prior to the acquisition by Ottawa Financial Corporation.
He has been the Senior Vice President of Ottawa Financial Corporation and the
Executive Vice President and Chief Operating Officer of the Bank since the
merger in February 1996.
AmeriBank, the sole subsidiary of Ottawa Financial Corporation, had assets of
$930.2 million as of September 30, 1998, and operates with 26 offices in
Southwestern Michigan. Ottawa Financial Corporation trades on NASDAQ under
the symbol of OFCP.
