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 14, 1997
EAST TEXAS FINANCIAL SERVICES, INC.
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(Exact name of Registrant as specified in its Charter)
Delaware 0-24848 75-2559089
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(State or other (Commission File No.) (IRS Employer
jurisdiction of Identification Number)
incorporation
1200 South Beckham Avenue, Tyler, Texas 75701-3319
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (903) 593-1767
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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
On May 14, 1997, the Registrant issued for publication the press
release attached as Exhibit "99" announcing completion of the stock repurchase
program.
Item 7. Financial Statements and Exhibits
The Exhibit referred to in Item 5 of this Report and listed on the
accompanying Exhibit Index is filed as part of this Report and is incorporated
herein by reference.
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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.
EAST TEXAS FINANCIAL SERVICES, INC.
Date: May 14, 1997 By: /s/ GERALD W. FREE
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Gerald W. Free
President and
Chief Executive Officer
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Exhibit
Number Description
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99 Press release, published on May 14, 1997.
EXHIBIT "99"
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{GRAPHIC-LOGO] EAST TEXAS FINANCIAL SERVICES, INC.
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1200 South Beckham - P.O.Box 6910 - Tyler, TX 75711-6910 -
903-593-1767 - Fax 903-593-1094
NEWS RELEASE
For verification, contact: Gerald W. Free, President and CEO
Derrell W. Chapman, Vice President/COO/CFO
Telephone: (903) 593-1767
Fax: (903) 593-1094
For immediate release, May 14, 1997
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EAST TEXAS FINANCIAL SERVICES, INC.
ANNOUNCES COMPLETION OF STOCK REPURCHASE PROGRAM
Tyler, Texas, May 14, 1997, - - - East Texas Financial Services, Inc. (NASDAQ:
ETFS), today announced the completion of its fourth stock repurchase program. On
April 17, 1997, the Company announced its intention to repurchase, in the open
market, up to 5% or 53,964 shares of its common stock. Today, the Company
announces the completion of the repurchase of all 53,694 shares of the stock at
a purchase price of $17.625 per share. The repurchased shares will be placed
into treasury stock and be used for general corporate purposes, including the
issuance of shares under the Company's stock option plan.
East Texas Financial Services, Inc., is the holding Company for First Federal
Savings and Loan Association of Tyler, Texas. The Company issued 1,215,190
shares of stock in its initial public offering completed on January 10, 1995, in
conjunction with the conversion of the Association from a federally chartered
mutual to stock savings and loan association. The Company now has outstanding
1,025,321 shares of stock.
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