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)
August 19, 1998
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 August 19, 1998, the Registrant issued for publication the press
release attached as Exhibit "99" announcing the completion of a 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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Exhibit Sequential
Number No. Description Page
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99 Press release, published on August 19, 1998. 6
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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: August 19, 1998 By: /s/ GERALD W. FREE
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Gerald W. Free
Vice Chairman, President
And Chief Executive Officer
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EXHIBIT "99"
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EAST TEXAS FINANCIAL SERVICES, INC.
1200 South Beckham o P. O. Box 6910 o Tyler, TX 75711-6910 o 903-593-1767
o Fax 903-593-1094
NEWS RELEASE
For verification, contact: Gerald W. Free, Vice Chairman/President/CEO
Derrell W. Chapman, Vice President/COO/CFO
Telephone: (903) 593-1767
Fax: (903) 593-1094
For immediate release, August 19, 1998
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EAST TEXAS FINANCIAL SERVICES, INC.
ANNOUNCES COMPLETION OF STOCK REPURCHASE PROGRAM
Tyler, Texas, August 19, 1998, - - - East Texas Financial Services, Inc.
(NASDAQ: ETFS), today announced its completion of its fifth stock repurchase
program. On July 30, 1998, the Company announced its intention to repurchase, in
the open market up to 5% or 76,973 shares of its common stock. Today, the
Company announces the completion of the repurchase of all 76,973 shares of the
stock with purchase prices ranging from $14.00 per share to $14.125 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 issued a 3 for 2 stock
split in March of 1998, and the Company adjusted share data accordingly. The
Company now has outstanding 1,464,056.
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