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)
November 26, 1999
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
incorporation Number)
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
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On November 26, 1999, 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
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The Exhibits referred to in Item 5 of this Report and listed on the
accompanying Exhibit Index are filed as part of this Report and is incorporated
herein by reference.
2
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<TABLE>
<CAPTION>
Exhibit Sequential
Number Description Page No.
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<S> <C> <C>
99 Press release, published on November 26, 1999. 6
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3
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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: November 26, 1999 By: /s/ Gerald W. Free
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Gerald W. Free
Vice Chairman/President/CEO
EXHIBIT "99"
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EAST TEXAS FINANCIAL SERVICES, INC.
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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, November 26, 1999
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EAST TEXAS FINANCIAL SERVICES, INC.
ANNOUNCES STOCK REPURCHASE
Tyler, Texas, November 26, 1999, - - - East Texas Financial Services, Inc.
(OTCBB: ETFS), announced today that it has completed the repurchase of
approximately 10% of its outstanding shares from a group of stockholders led by
William D. Vaughan. The shares were purchased at prevailing market prices.
Gerald W. Free, President of the Company, indicated that the Board of
Directors approved the repurchase in view of the current price level of the
Company's common stock, the capital position of the Company's subsidiary, First
Federal Savings and Loan Association of Tyler and the stockholder group's
agreement not to acquire shares of the Company in the future or to take any
hostile action against the Company. Mr. Free stated "With this action today we
can focus on achieving the synergies and cost savings that make our pending
merger with Gilmer so attractive. Our focus will continue to be on achieving the
best possible results for our stockholders."
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