SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE
13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
(Amendment No. __________)
FSF FINANCIAL CORP.
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(Name of Issuer)
Common Stock $0.10 Par Value Per Share
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(Title of Class of Securities)
302 62K 105
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(CUSIP Number)
Gregory A. Gehlmann, Esquire
Malizia Spidi & Fisch, PC
1301 K Street, N.W., Suite 700 East
Washington, D.C. 20005
(202) 434-4660
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 21, 1999
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(Date of event which requires filing of this Statement)
If the filing person has previously filed a Statement on Schedule 13G
to report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box [ ].
Note. Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for
other parties to whom copies are to be sent.
(Continued on following pages.)
(Page 1 of 7 pages)
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CUSIP No. 302 62K 105 13D Page 2 of 7 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
George B. Loban
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
N/A
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
N/A
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER
NUMBER OF 136,337 Shares
SHARES ------------- -----------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 26,091 Shares
EACH ------------- -----------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH 136,337 Shares
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10 SHARED DISPOSITIVE POWER
26,091 Shares
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
162,428 Shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
N/A
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.8% (based on 2,795,887 outstanding shares)
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14 TYPE OF REPORTING PERSON
IN
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Page 3 of 7
Item 1. Security and Issuer
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The class of equity securities to which this Statement relates is the
common stock, $0.10 par value per share (the "Common Stock"), of FSF Financial
Corp. (the "Issuer"), the executive office of which is located at 201 Main
Street South, Hutchinson, Minnesota 55350.
Item 2. Identity and Background
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(a) Name: George B. Loban
(b) Residence or Business Address: 201 Main Street South, Hutchinson, Minnesota
55350.
(c) Present Principal Occupation or Employment: President of FSF Financial
Corp., 201 Main Street South, Hutchinson, Minnesota 55350.
(d) None.
(e) None.
(f) Citizenship: United States
Item 3. Source and Amount of Funds or Other Consideration
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The purchase of the Common Stock has been made with the personal funds
of Mr. Loban, and through compensation awards as President of the Issuer. Mr.
Loban has exercisable options to purchase 63,643 shares which were granted
pursuant to compensation plans of the Issuer.
Item 4. Purpose of Transaction
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All of the shares reported on this Schedule 13D as beneficially owned
by Mr. Loban were acquired for investment. Mr. Loban may, from time to time,
depending upon market conditions and other investment considerations, purchase
additional securities of the Issuer for investment or dispose of securities of
the Issuer. As a director and an executive officer of the Issuer, Mr.
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Page 4 of 7
Loban, from time to time, explores and is presented with potential actions and
transactions which may be advantageous to the Issuer and its stockholders,
including possible mergers, acquisitions and other business combinations.
Other than as discussed above and in the performance of his duties as a
director and an executive officer of the Issuer, Mr. Loban has no current plans
or proposals which relate to or would result in:
(a) the acquisition by any person of additional securities of the Issuer, or
the disposition of securities of the Issuer;
(b) an extraordinary corporate transaction, such as a merger, reorganization or
liquidation, involving the Issuer or any of its subsidiaries;
(c) a sale or transfer of a material amount of assets of the Issuer or any of
its subsidiaries;
(d) any change in the present board of directors or management of the Issuer,
including any plans or proposals to change the number or term of directors
or to fill any existing vacancies on the board;
(e) any material change in the present capitalization or dividend policy of the
Issuer;
(f) any other material change in the Issuer's business or corporate structure;
(g) changes in the Issuer's articles of incorporation, bylaws or instruments
corresponding thereto or other actions which may impede the acquisition of
control of the Issuer by any persons;
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Page 5 of 7
(h) causing a class of securities of the Issuer to be delisted from a national
securities exchange or to cease to be authorized to be quoted in an
inter-dealer quotation system of a registered national securities
association;
(i) a class of equity securities of the Issuer becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Securities
Exchange Act of 1934, as amended; or
(j) any action similar to any of those enumerated above.
Item 5. Interest in Securities of the Issuer
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(a) The reporting person beneficially owns 162,428 shares of the Issuer
as of the date of this statement, representing 5.8% of the issued and
outstanding shares. This includes 10,955 shares of the Common Stock held in the
ESOP which have been allocated to Mr. Loban's account and 63,643 shares which
may be acquired by Mr. Loban within 60 days pursuant to exercise of stock
options. This does not include (i) 146,070 shares held by the ESOP which have
not been allocated to participants' accounts, which shares are voted by the
trustee of the ESOP in accordance with instructions from Mr. Loban in his
capacity as the Plan Administrator of the ESOP, and (ii) 8,993 shares of
restricted stock granted but not vested, pursuant to the subsidiary of the
Issuer's Management Stock Plan ("MSP") held by the MSP on behalf of Mr. Loban.
(b) Mr. Loban exercises sole voting and dispositive power over 136,337
shares. The total of 162,428 shares owned directly and beneficially by Mr. Loban
also includes 21,467 shares owned solely by Mr. Loban's wife, 2,525 shares held
in trust for the benefit of a minor child of
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Mr. Loban, 2,099 shares held by the son of Mr. Loban, and 10,955 shares
held by the ESOP on behalf of Mr. Loban.
(c) No transactions in the class of securities being reporting on have been
effected during the past sixty days.
(d) No other person has any interest in the securities reported on pursuant to
his Schedule 13D.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understanding, or Relationships With Respect to
Securities of the Issuer
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There are no contracts, arrangements, understandings, or relationships
between the undersigned and any other person with respect to the issuer's
securities, including but not limited to the transfer or voting of securities,
finder's fees, joint ventures, loan or option arrangements, puts or calls,
guarantees of profits, division of profits or loss, the giving or withholding of
proxies, or otherwise.
Item 7. Material to be Filed as Exhibits
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Not applicable.
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete, and
correct.
Date: December 31, 1999 /s/ George B. Loban
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George B. Loban
