<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
------------------
FORM 10-QSB
(X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2000
OR
( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from _________ to _________
WEST TOWN BANCORP, INC.
-----------------------
(Exact name of small business issuer as specified in its charter)
United States 36-3785272
------------- ----------
(State or other jurisdiction I.R.S. Employer
of incorporation or Identification
organization) Number
4852 WEST 30TH STREET, CICERO, ILLINOIS 60804
--------------------------------------- -----
(Address of Principal executive offices) (Zip Code)
Issuer's telephone number, including area code: (708) 652-2000
--------------
Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15 (d) of the Exchange Act during the past 12 months (or for such
shorter period that the issuer was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days.
Yes X No_________
---------
Transitional Small Business Disclosure Format
Yes_________ No X
---------
As of August 7, 2000, the issuer had 207,537 shares of common stock issued
and outstanding; see accompanying notes.
<PAGE>
WEST TOWN BANCORP, INC.
AND SUBSIDIARIES
----------------
<TABLE>
<CAPTION>
Part I. FINANCIAL INFORMATION PAGE
----
<S> <C>
Item 1. Financial Statements
Consolidated Statements of Financial Condition
June 30, 2000 (unaudited) and March 31, 2000 3
Consolidated Statements of Income, Three
Months Ended June 30, 2000 and 1999 (unaudited) 4
Consolidated Statements of Stockholders' Equity,
Three Months Ended June 30, 2000 (unaudited) 5
Consolidated Statements of Cash Flows, Three
Months Ended June 30, 2000 and 1999 (unaudited) 6
Notes to Consolidated Financial Statements 7-8
Item 2. Management's Discussion and Analysis or Plan of Operation 9-13
Part II. OTHER INFORMATION 14
Signatures 15
Index to Exhibits 16
Earnings per Share Analysis (Exhibit 11) 17
</TABLE>
<PAGE>
WEST TOWN BANCORP, INC.
AND SUBSIDIARIES
----------------
Consolidated Statements of Financial Condition
<TABLE>
<CAPTION>
June 30, March 31,
------------ ----------
2000 2000
---- ----
Assets (unaudited)
------
<S> <C> <C>
Cash and amounts due from depository institutions $ 293,348 340,342
Interest-bearing deposits 8,996,665 10,829,567
----------- ----------
Total cash and cash equivalents 9,290,013 11,169,909
Mortgage-backed securities, held to maturity
(fair value: June 30, 2000 - $3,528,000;
March 31, 2000 - $1,590,600) 3,520,139 1,575,557
Loans receivable (net of allowance for
loan losses: June 30, 2000 - $59,671;
March 31, 2000 - $58,171) 23,587,727 19,632,826
Stock in Federal Home Loan Bank of Chicago 186,400 186,400
Other investments, available for sale, at fair value 248,750 248,750
Accrued interest receivable 176,797 151,674
Office properties and equipment - net 1,627,373 1,648,374
Prepaid expenses and other assets 442,314 344,395
----------- ----------
Total assets 39,079,513 34,957,885
=========== ==========
Liabilities and Stockholders' Equity
------------------------------------
Liabilities
-----------
Deposits 34,541,995 30,457,620
Advance payments by borrowers for taxes and insurance 77,067 36,710
Other liabilities 346,502 296,309
----------- ----------
Total liabilities 34,965,564 30,790,639
----------- ----------
Stockholders' Equity
--------------------
Preferred stock, $.01 par value; authorized
100,000 shares; none outstanding - -
Common stock, $.01 par value; authorized
400,000 shares; 231,928 shares issued and
207,537 shares outstanding at June 30, 2000 and
210,362 shares outstanding at March 31, 2000 2,319 2,319
Additional paid-in capital 1,997,261 1,997,261
Retained earnings, substantially restricted 2,475,302 2,499,062
Accumulated other comprehensive income,
net of income taxes 31,223 31,223
Treasury stock, at cost (24,391 shares at June 30, 2000
and 21,566 shares at March 31, 2000) (288,557) (254,657)
Common stock acquired by Employee Stock Ownership Plan (103,599) (107,962)
----------- ----------
Total stockholders' equity 4,113,949 4,167,246
----------- ----------
Total liabilities and stockholders' equity $39,079,513 34,957,885
=========== ==========
</TABLE>
See accompanying notes to consolidated financial statements.
-3-
<PAGE>
WEST TOWN BANCORP, INC.
AND SUBSIDIARIES
----------------
Consolidated Statements of Income
<TABLE>
<CAPTION>
Three Months Ended
June 30,
------------------
2000 1999
-------- -------
(unaudited)
<S> <C> <C>
Interest income:
Loans $389,108 373,840
Mortgage-backed securities 49,144 11,981
Investment securities 2,750 2,750
Interest-bearing deposits 165,788 102,322
Dividends on FHLB stock 3,360 2,942
-------- -------
Total interest income 610,150 493,835
-------- -------
Interest expense:
Deposits 419,478 297,930
-------- -------
Net interest income before provision for loan losses 190,672 195,905
Provision for loan losses 1,500 1,500
-------- -------
Net interest income after provision for loan losses 189,172 194,405
-------- -------
Non-interest income:
Loan fees and service charges 3,308 3,640
Rental income 2,915 2,430
Deposit related fees and other income 12,614 4,475
-------- -------
Total non-interest income 18,837 10,545
-------- -------
Non-interest expense:
Staffing costs 118,103 74,469
Advertising 8,115 2,659
Occupancy and equipment expenses 53,726 33,310
Data processing 14,671 8,696
Federal deposit insurance premiums 1,394 3,738
Legal, audit, and examination services 23,005 13,779
Other 23,555 15,704
-------- -------
Total non-interest expense 242,569 152,355
-------- -------
Income (loss) before income taxes (34,560) 52,595
Provision for income taxes (benefit) (10,800) 17,630
-------- -------
Net income (loss) $(23,760) 34,965
======== =======
Earnings (loss) per share - basic $ (.12) .17
-------- -------
Earnings (loss) per share - diluted $ (.12) .16
-------- -------
Dividends declared per common share $ - -
-------- -------
</TABLE>
See accompanying notes to consolidated financial statements.
-4-
<PAGE>
WEST TOWN BANCORP, INC.
AND SUBSIDIARIES
----------------
Consolidated Statements of Changes in Stockholders' Equity
Three Months Ended June 30, 2000
----------------
(Unaudited)
<TABLE>
<CAPTION>
Accumulated Common
Additional Other Stock
Common Paid-in Retained Comprehensive Treasury Acquired
Stock Capital Earnings Income Stock by ESOP Total
--------- ----------- ----------- --------------- --------- ---------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at March 31, 2000 $ 2,319 1,997,261 2,499,062 31,223 (254,657) (107,962) 4,167,246
Comprehensive income:
Net income (loss) (23,760) (23,760)
Other comprehensive income,
net of tax:
Unrealized holding gain
during the year - -
---------- -------- ---------
Total comprehensive income (23,760) - (23,760)
---------- -------- ---------
Purchase of treasury stock
(2,825 shares) (33,900) (33,900)
Contribution to fund ESOP loan 4,363 4,363
--------- ----------- ----------- -------- --------- ---------- ---------
Balance at June 30, 2000 $ 2,319 1,997,261 2,475,302 31,223 (288,557) (103,599) 4,113,949
========= ========== ========== ======== ========= ========== =========
</TABLE>
See accompanying notes to consolidated financial statements.
-5-
<PAGE>
WEST TOWN BANCORP, INC.
AND SUBSIDIARIES
----------------
Consolidated Statements of Cash Flows
<TABLE>
<CAPTION>
Three Months Ended
June 30,
------------------------
2000 1999
----------- ----------
(unaudited)
<S> <C> <C>
Cash flows from operating activities:
Net income (loss) $ (23,760) 34,965
Adjustments to reconcile net income to net cash
from operating activities:
Depreciation 22,216 9,273
Amortization of cost of stock benefit plans 4,363 3,969
Provision for loan losses 1,500 1,500
Increase (decrease) in deferred income (720) 360
Change in current and deferred income tax 25,537 (3,432)
Increase in accrued interest receivable (25,123) (14,893)
Increase in accrued interest payable 43,025 11,529
Change in prepaid and accrued items, net (116,288) (10,632)
----------- ----------
Net cash provided by (for) operating activities (69,250) 32,639
----------- ----------
Cash flows from investing activities:
Purchase of mortgage-backed securities (2,016,943) -
Proceeds from repayments of mortgage-backed
securities 72,361 166,923
Purchase of Federal Home Loan Bank stock - (5,900)
Disbursements for loans originated or purchased (5,218,695) (1,338,022)
Loan repayments 1,186,826 1,333,878
Participation loans sold 76,188 -
Property and equipment expenditures (1,215) -
----------- ----------
Net cash provided by (for) investing activities (5,901,478) 156,879
----------- ----------
Cash flows from financing activities:
Deposit account receipts 9,811,667 3,099,939
Deposit account withdrawals (6,104,312) (3,006,498)
Interest credited to deposit accounts 377,020 286,824
Increase in advance payments by borrowers
for taxes and insurance 40,357 33,394
Purchase of treasury stock (33,900) (27,600)
----------- ----------
Net cash provided by financing activities 4,090,832 386,059
----------- ----------
Increase (decrease) in cash and cash equivalents (1,879,896) 575,577
Cash and cash equivalents at beginning of period 11,169,909 8,139,147
----------- ----------
Cash and cash equivalents at end of period $ 9,290,013 8,714,724
=========== ==========
Cash paid during the period for:
Interest $ 376,453 286,401
Income taxes 856 3,206
=========== ==========
</TABLE>
See accompanying notes to consolidated financial statements.
-6-
<PAGE>
WEST TOWN BANCORP, INC.
AND SUBSIDIARIES
Notes to Consolidated Financial Statements
Note A - Basis of Presentation
---------------------
The accompanying unaudited consolidated financial statements have been
prepared in accordance with instructions to Form 10-QSB and,
therefore, do not include information or footnotes necessary for fair
presentation of financial condition, results of operations and changes
in financial position in conformity with generally accepted accounting
principles. However, in the opinion of management, all adjustments
(which are normal and recurring in nature) necessary for a fair
presentation have been included. The preparation of financial
statements in conformity with generally accepted accounting principles
requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosures of
contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during
the reporting period. Actual results could differ from those
estimates. The results of operations for the three month period ended
June 30, 2000, are not necessarily indicative of the results which may
be expected for the entire year.
Note B - Principles of Consolidation
---------------------------
The accompanying unaudited consolidated financial statements include
the accounts of West Town Bancorp, Inc. (the "Company") and its wholly
owned subsidiary West Town Savings Bank (the "Bank") and the Bank's
wholly owned subsidiary West Town Insurance Agency, Inc. All
significant intercompany accounts and transactions have been
eliminated in consolidation.
Note C - Earnings Per Share
------------------
Earnings per share for the three month periods ended June 30, 2000 and
1999 was determined by dividing net income for the period by the
weighted average number of both basic and diluted shares of common
stock and common stock equivalents outstanding (see Exhibit 11
attached). Stock options are regarded as common stock equivalents and
are therefore considered in diluted earnings per share calculations.
Common stock equivalents are computed using the treasury stock method.
ESOP shares not committed to be released to participants are not
considered outstanding for purposes of computing earnings per share
amounts.
Note D - Industry Segments
-----------------
The Company operates principally in the banking industry through its
subsidiary bank. As such, substantially all of the Company's
revenues, net income, identifiable assets and capital expenditures are
related to banking operations.
-7-
<PAGE>
Notes to Financial Statements (continued)
-----------------------------------------
Note E - Effect of New Accounting Standards
----------------------------------
In June 1998, the FASB issued Statement of Financial Accounting
Standards No. 133, "Accounting for Derivative Instruments and Hedging
Activities", ("SFAS No. 133") which is effective for fiscal years
beginning after June 15, 1999. The statement requires all derivatives
to be recorded on the balance sheet at fair value. It also establishes
"special accounting" for hedges of changes in the fair value of
assets, liabilities, or firm commitments (fair value hedges), hedges
of the variable cash flows of forecasted transactions (cash flow
hedges), and hedges of foreign currency exposures of net investments
in foreign operations. To the extent the hedge is considered highly
effective, both the change in the fair value of the derivative and the
change in the fair value of the hedged item are recognized (offset) in
earnings in the same period. Changes in fair value of derivatives that
do not meet the criteria of one of these three hedge categories are
included in income.
In September 1999, the FASB issued Statement of Financial Accounting
Standards No. 137 ("SFAS No. 137"), entitled "Accounting for
Derivative Instruments in Hedging Activities--Deferral of the
Effective Date of FASB Statement No. 133". SFAS No. 137 defers the
effective date of SFAS No. 133 from years beginning after June 15,
1999 to all fiscal quarters of all fiscal years beginning after June
15, 2000. Management does not believe that adoption of SFAS No. 133
will have a material impact on the Company's consolidated financial
condition or results of operations.
The foregoing does not constitute a comprehensive summary of all
material changes or developments affecting the manner in which the
Company keeps its books and records and performs its financial
accounting responsibilities. It is intended only as a summary of some
of the recent pronouncements made by the FASB which are of particular
interest to financial institutions.
-8-
<PAGE>
WEST TOWN BANCORP, INC.
AND SUBSIDIARIES
Management's Discussions and Analysis
of Financial Condition and Results of Operations
Financial Condition
-------------------
The assets of West Town Bancorp, Inc. (the "Company") increased
approximately $4.1 million, or 11.79%, for the three month period ended June 30,
2000. This increase was primarily the result of the opening of the branch
office in North Riverside, Illinois which has generated new deposits totaling
approximately $4.5 million since March 31, 2000. These deposits funded loan
originations and purchases as well as purchases of mortgage-backed securities.
Net loans receivable increased approximately $4.0 million, or 20.14% for
the three months ended June 30, 2000. During that period, the Bank originated
or purchased approximately $5.2 million in loans which exceeded repayments of
$1.2 million during the same period.
The Bank experienced an increase in savings deposits for the three month
period of approximately $4.1 million, or 13.53%. This increase was primarily
the result of deposits generated by the new branch office.
Stockholders' equity decreased approximately $53,000, or 1.28%, for the
three month period ended June 30, 2000. This decrease was primarily the result
of the net loss for the three months of $24,000, as well as the purchase of
treasury stock at a cost of $34,000. As of June 30, 2000, the book value per
common share outstanding was $19.82.
Analysis of Operations
----------------------
A net loss of $24,000 was recognized for the three months ended June 30,
2000 as compared to net income of $35,000 for the same period in 1999. This
$59,000 decrease in net income was due primarily to the opening of the branch
office which resulted in increases in compensation expense of $44,000 and
occupancy and equipment expenses of $21,000.
Interest income increased by $116,000 for the three months ended June 30,
2000, as compared to the three months ended June 30, 1999. This was the result
of an increase in the average yield on average interest earning assets as well
as an increase in the average balance of interest-earning assets. The average
balance of those assets increased to approximately $34.7 million from $29.6
million for the three months ended June 30, 2000 and 1999, respectively. The
average yield on average interest-earning assets increased from 6.67% for the
three months ended June 30, 1999 to 7.04% for the three months ended June 30,
2000.
Interest expense increased to $419,000 from $298,000 for the three months
ended June 30, 2000 compared to the same period in 1999. This increase was
attributable to an increase in the average rate paid on liabilities as well as
an increase in the average balance of interest-bearing liabilities. The average
balance increased approximately $6.2 million for the three months ended June 30,
2000 as compared to the average balance at June 30, 1999. The average rate on
average interest-bearing liabilities increased from 4.51% for the three months
ended June 30, 1999 to 5.14% for the three months ended June 30, 2000.
-9-
<PAGE>
Analysis of Operations (continued)
----------------------------------
The Bank calculates any allowance for loan losses based upon its ongoing
evaluation of pertinent factors underlying the types and quality of its loans,
including the risk inherent in its loan portfolio, and other factors such as the
current regulatory and economic environment. Based upon this evaluation, loan
loss provisions are recorded. Provisions of $1,500 and $1,500 were made for the
three month periods ended June 30, 2000 and 1999 respectively. Management
believes that additions to its provision for loan losses have been appropriate,
given the risks inherent in its loan portfolio, and the current regulatory and
economic environment. Although the Bank believes its allowance for loan losses
is at a level which it considers to be adequate to provide for potential losses,
there can be no assurance that such losses will not exceed the estimated
amounts.
Non-interest income increased $8,000 for the three months ended June 30,
2000 as compared to the same period in 1999. This was the result of increased
checking account fees and ATM fees generated by the new branch office.
Non-interest expense increased to $243,000 from $152,000 for the three
months ended June 30, 2000 from the three months ended June 30, 1999. The
increase was attributable to increases in all categories of expenses as a result
of the opening of the new branch office.
The provision for income taxes decreased $28,000 for the three months ended
June 30, 2000 as compared to the same period in 1999. This decrease is the
direct result of the decrease in pre-tax income of $87,000 between the
comparable periods.
On June 30, 2000, the Bank, through its wholly owned subsidiary, West Town
Insurance Agency, purchased 2,500 shares of 23.7% of the issued and outstanding
stock of Commercial Loan Corporation ("CLC") at a purchase price of $125,000.
CLC, which is owned by Chicagoland financial institutions, processes,
underwrites, documents and services commercial loans for financial institution
investors. The services performed by CLC include monitoring post closing
performance of the loan, preparation of loan summaries, ongoing analysis of the
performance of the loan and the borrower including review of financial and
operating statements of the borrower and collection and remittance of all loan
payments. CLC entered into a master loan participation agreement with each of
its shareholders or their affiliates, whereunder the investors would purchase
participations in pools offered by CLC. At June 30, 2000, CLC originated 49
loans aggregating $13.5 million (includes $3,974,000 of unfunded commitments),
which were funded through 8 pools. The rates paid on the pools to the
investors, including the Bank, ranged from 7.50% to 9.25% and consisted of both
fixed and variable rates. As of June 30, 2000 the Bank had purchased an
interest in each of the eight pools aggregating approximately $2.3 million.
-10-
<PAGE>
Liquidity and Capital Resources
-------------------------------
At June 30, 2000, the Bank continued to comply with its liquidity requirements,
with an overall liquid asset ratio of 23.34% and a short-term liquid asset ratio
of 19.89%. Management's objectives and strategies for the Bank have
consistently maintained liquidity levels in excess of regulatory requirements.
It is management's intent to continue its efforts to deploy excess liquidity
into mortgage loans and mortgage-backed securities; however, the success of
lending efforts is dependent upon the availability of favorable loan
opportunities and the competition therefor. At June 30, 2000, the Bank had
outstanding commitments to fund loans totaling approximately $600,000, and no
commitments to purchase mortgage-backed securities or other investment
securities.
The Bank was in compliance with regulatory capital requirements at June 30,
2000. Capital requirements, ratios, and balances are as follows:
<TABLE>
<CAPTION>
To Be Well-
Capitalized Under
For Capital Prompt Corrective
Actual Adequacy Purposes Action Provisions
----------------------------------------------------------------
Amount Ratio/1/ Amount Ratio/1/ Amount Ratio/1/
----------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
June 30, 2000
-------------
Risk-based $ 3,328,527 18.86% $ 1,411,824 8.00% $ 1,764,780 10.00%
Core 3,268,856 8.50 1,153,320 3.00 1,922,200 5.00
</TABLE>
-----------------
/1/ Core capital levels are shown as a percentage of total adjusted
assets; risk-based capital levels are shown as a percentage of
risk-weighted assets.
-11-
<PAGE>
Non-Performing Assets
---------------------
The following table sets forth the amounts and categories of non-performing
assets in the Company's portfolio. Loans are placed on non-accrual status when
principal and interest are 90 days or more past due, unless, in the judgment of
management, the loan is well collateralized and in the process of collection.
Loans are also reviewed monthly and any loan whose collectibility is doubtful is
placed on non-accrual status. Interest accrued and unpaid at the time a loan is
placed on non-accrual status is charged against interest income. Subsequent
payments are either applied to the outstanding principal balance or recorded as
interest income, depending on the assessment of the ultimate collectibility of
the loan. The following table sets forth the Company's non-performing assets as
of the dates indicated.
<TABLE>
<CAPTION>
June 30, March 31,
2000 2000
-------- ---------
<S> <C> <C>
Non-accruing loans:
One-to-four family.................... $ - $ -
Multi-family.......................... - -
Commercial real estate................ - -
Land and construction................. - -
-------- ---------
Total non-performing loans........... - -
-------- ---------
Real estate owned..................... - -
-------- ---------
Total non-performing assets............ $ - $ -
======== =========
Total as a percentage of total assets.. - % - %
======== =========
</TABLE>
In addition to the non-performing assets set forth in the table above, as of
June 30, 2000, there were no loans with respect to which known information about
the possible credit problems of the borrowers or the cash flows of the secured
properties have caused management to have concerns as to the ability of the
borrowers to comply with present loan repayment terms and which may result in
the future inclusion of such items in the non-performing asset categories.
Management has considered the Company's non-performing and "of concern" assets
in establishing the allowance for loan losses.
-12-
<PAGE>
Year 2000 Compliance Disclosure
-------------------------------
The Company's Year 2000 Readiness Plan proved successful in that no problems
were experienced with the data processing systems, security systems and other
systems and operations which were Year 2000 dependent. The Company will
continue to monitor the Year 2000 issue in accordance with its contingency plan.
Impact of Inflation and Changing Prices
---------------------------------------
The consolidated financial statements and related data presented herein have
been prepared in accordance with generally accepted accounting principles which
require the measurement of financial position and operating results in terms of
historical dollars without considering changes in the relative purchasing power
of money over time due to inflation. The primary impact of inflation on the
operations of the Company is reflected in increased operating costs. Unlike
most industrial companies, virtually all of the assets and liabilities of a
financial institution are monetary in nature. As a result, interest rates,
generally, have a more significant impact on a financial institution's
performance than does inflation. Interest rates do not necessarily move in the
same direction or to the same extent as the prices of goods and services.
Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995
-----------------------------------------------------------------------------
Management's Discussion and Analysis of Financial Condition and Results of
Operations that are not historical facts are forward-looking statements subject
to the safe harbor created by the Private Securities Litigation Reform Act of
1995. The Company cautions readers of this Form 10-QSB that a number of
important factors could cause the Company's actual results in 2000/2001 and
beyond to differ materially from those expressed in any such forward-looking
statements. These factors include, without limitation, the general economic and
business conditions affecting the Company's customers; changes in interest
rates; the adequacy of the Bank's allowance for loan losses; competition from,
among others, commercial banks, savings and loan associations, mutual funds,
money market funds, finance companies, credit unions, mortgage companies, and
the United States Government; limited partnership activities; federal and state
legislation, regulation and supervision of the Bank and its subsidiaries; the
risk of defaults on loans; and contractual, statutory and regulatory
restrictions on the Bank's ability to pay dividends to the Company.
-13-
<PAGE>
PART II - OTHER INFORMATION
WEST TOWN BANCORP INC.
AND SUBSIDIARIES
Item 1. LEGAL PROCEEDINGS
-----------------
From time to time, the Company and Bank are parties to legal
proceedings in the ordinary course of business, wherein they enforce
their security interest. The Company and Bank are not engaged in any
legal proceedings of a material nature at the present time.
Item 2. CHANGES IN SECURITIES
---------------------
Not applicable
Item 3. DEFAULTS UPON SENIOR SECURITIES
-------------------------------
Not applicable
Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
---------------------------------------------------
Not applicable
Item 5. OTHER INFORMATION
-----------------
Not applicable
Item 6. EXHIBITS AND REPORTS ON FORM 8-K
--------------------------------
(a) Computation of earnings per share (Exhibit 11 filed herewith)
(b) No reports on Form 8-K were filed during the quarter ended June
30, 2000.
-14-
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15 (d) of the Securities and
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, duly authorized.
WEST TOWN BANCORP, INC.
-----------------------
Registrant
DATE: August 7, 2000
BY: /s/ Dennis B. Kosobucki
------------------------------------------
Dennis B. Kosobucki
Chairman of the Board,
President and Chief Executive Officer
(Duly Authorized Representative and
Principal Executive Officer)
BY: /s/ Jeffrey P. Kosobucki
------------------------------------------
Jeffrey P. Kosobucki
Vice President and Chief Financial Officer
(Principal Financial Officer)
-15-
<PAGE>
INDEX TO EXHIBITS
Exhibit No. Page No.
----------- --------
11 Statement regarding Computation of Earnings Per Share 17
27 Financial Data Schedule 18
-16-
