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)
May 26, 1999
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
N/A
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(Former name or former address, if changed since last Report)
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ITEM 5. OTHER EVENTS.
On May 26, 1999, Ottawa Financial Corporation issued two press releases
attached to this report as Exhibit 99.1 and Exhibit 99.2, respectively. The
first press release reported the retirement of G.W. Haworth as a Director of
Ottawa Financial and its wholly-owned subsidiary, AmeriBank, effective June 1,
1999. Richard T. Walsh has been appointed to succeed the Director position
vacated by Mr. Haworth effective June 1, 1999.
The second press release reported the Board of Director's declaration of a
10% stock dividend and a cash dividend of $0.11 per share payable on June 30,
1999 to shareholders of record on June 14, 1999.
The foregoing information does not purport to be complete and is
qualified in its entirety by reference to the exhibits to this report.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits:
Exhibit 99.1 - Press release dated May 26, 1999, announcing
the retirement of G.W. Haworth as a director of Ottawa
Financial and the appointment of Richard T. Walsh as a
director of Ottawa Financial.
Exhibit 99.2 - Press release dated May 26, 1999, announcing
the declaration of stock and cash dividends.
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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: June 4, 1999 By:/s/ Jon W. Swets
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Jon W. Swets
Senior Vice President and
Chief Financial Officer
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EXHIBIT INDEX
Exhibit No. Description
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99.1 Press release dated May 26, 1999, announcing
the retirement of G.W. Haworth as a director
of Ottawa Financial and the appointment of
Richard T. Walsh as a director of Ottawa
Financial.
99.2 Press release dated May 26, 1999, announcing
the declaration of stock and cash dividends.
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OTTAWA FINANCIAL CORPORATION 245 Central Avenue, Holland, MI 49423-3298/
(616)393-7000
[OTTAWA LOGO]
FOR IMMEDIATE RELEASE
May 26, 1999
CONTACT: Douglas J. Iverson, Vice Chairman & CEO
(616) 393-7002
Jon W. Swets, SVP & CFO
(616) 224-2841
OTTAWA FINANCIAL CORPORATION ANNOUNCES
DIRECTOR RETIREMENT AND APPOINTMENT
HOLLAND, MICHIGAN, May 26, 1999 - Douglas J. Iverson, Vice Chairman and CEO of
Ottawa Financial Corporation, announced the retirement of G.W. Haworth as a
Director of Ottawa Financial and its wholly owned subsidiary, AmeriBank,
effective June 1, 1999. Mr. Haworth has been a Director of Ottawa Financial
since its formation in August 1994 and of AmeriBank since 1966. The Board of
Directors has appointed Mr. Haworth a Director Emeritus of Ottawa Financial and
AmeriBank through 2000.
Mr. Iverson also announced the appointment of Richard T. Walsh to fill the
Director position vacated by Mr. Haworth. Mr. Walsh is Chairman of Pioneer
Industries, Inc., of Carlstadt, New Jersey, and is the sole proprietor of RT
Enterprises in Bloomfield Hills. He is a CPA and former partner of Touche Ross &
Co. Formerly, Mr. Walsh was CEO of Core Industries, Inc., a diversified New York
Stock Exchange listed company. He is active in numerous professional and
charitable activities and was a former Director for Michigan National
Corporation.
Ottawa Financial Corporation has 26 offices located in six counties in Western
Michigan and had assets of $919.9 million and $76.3 million in stockholders'
equity as of March 31, 1999.
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OTTAWA FINANCIAL CORPORATION 245 Central Avenue, Holland, MI 49423-3298/
(616)393-7000
[OTTAWA LOGO]
FOR IMMEDIATE RELEASE
May 26, 1999
CONTACT: Douglas J. Iverson, Vice Chairman & CEO
(616) 393-7002
Jon W. Swets, SVP & CFO
(616) 224-2841
OTTAWA FINANCIAL CORPORATION
DECLARES STOCK AND CASH DIVIDEND
HOLLAND, MICHIGAN, May 26, 1999 - Ottawa Financial Corporation, parent
corporation of AmeriBank, Holland, Michigan, declared a 10 percent stock
dividend payable on June 30, 1999, to shareholders of record on June 14, 1999.
This is the third stock dividend declared by the Corporation in three years.
Shareholders will receive one share of common stock for each ten shares of stock
they hold on the record date.
The Corporation also has declared a cash dividend of $0.11 per share. The
dividend will be payable on June 30, 1999, to shareholders of record on June 14,
1999. The $0.11 per share represents a 10% increase in the cash dividend as it
will be paid on all shares including the new shares issued in the 10% stock
dividend.
AmeriBank now operates 26 retail banking offices located in six counties in
Western Michigan. The Corporation had $919.9 million in assets and $76.3 million
in stockholders' equity as of March 31, 1999. The Corporation's stock is traded
on the Nasdaq National Market under the symbol "OFCP".
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