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)
March 10, 1998
MISSISSIPPI VIEW HOLDING COMPANY
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(Exact name of Registrant as specified in its Charter)
Minnesota 0-25546 41-1795363
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(State or other jurisdiction (SEC File No.) (IRS Employer
of incorporation) Identification
Number)
35 East Broadway, Minnesota 56345
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (612) 632-5461
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Not Applicable
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(Former name or former address, if changed since last Report)
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MISSISSIPPI VIEW HOLDING COMPANY
INFORMATION TO BE INCLUDED IN REPORT
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Item 5. Other Events
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The Registrant announced that it had received notice from the Nasdaq
Stock Market that the Registrant's common stock would no longer be listed on the
Nasdaq SmallCap Market because it failed to meet the minimum number of public
float shares (500,000).
For further details, reference is made to the Press Release dated March
10, 1998, which is attached hereto as Exhibit 99 and incorporated herein by this
reference.
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Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits
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(c) Exhibits:
99 Press Release dated March 10, 1998.
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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.
MISSISSIPPI VIEW HOLDING COMPANY
Date: March 16, 1998 By: /s/Thomas J. Leiferman
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Thomas J. Leiferman
President and Chief Executive
Officer
EXHIBIT 99
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EXHIBIT 99
PRESS RELEASE March 10, 1998
Thomas J. Leiferman Contact: Thomas J. Leiferman
Little Falls, MN 56345 President/Chief Executive Officer
(320) 632-5461
Mississippi View Holding Company
Announces Termination of Listing on Nasdaq SmallCap Market
Little Falls, Minnesota -- March 10, 1998 -- Mississippi View Holding
Company (Nasdaq: "MIVI"), the parent holding company of Community Federal
Savings and Loan Association of Little Falls (the "Association"), announced that
the Corporation has been notified by the Nasdaq Stock Market that, effective the
close of business on March 16, 1998, its common stock will no longer be listed
on the Nasdaq SmallCap Market.
Thomas J. Leiferman, President of the Corporation, noted that "The
Board consulted with its advisors as to the pros and cons of maintaining its
Nasdaq listing, including the potential actions needed to maintain its listing
(such as a stock split). The Board reviewed options and factors such as the
limited trading market for Corporation's stock (an average daily volume during
calendar 1997 of 1,109 shares per day with almost one half of such volume being
repurchases by the Corporation) and the annual cost to remain listed on the
Nasdaq SmallCap Market (current annual fee of $4,000). The Board concluded that
many community banking institutions are listed on the OTC Bulletin Board due to
the limited trading in their stock and that moving to the OTC Bulletin Board is
in the best interests of stockholders. The Corporation expects brokers to
continue to make a market in the common stock on the OTC Bulletin Board."
Mr. Leiferman further noted that the Corporation expects, to the extent
feasible and permissible under law, to continue to be a purchaser of its own
stock.
The Corporation is a unitary savings and loan holding company. The
principal business of the Association is attracting deposits from the general
public and investing such deposits, together with other sources of funds, in
investment securities and loans secured primarily by residential real estate
located in Morrison County, Minnesota. To a lesser extent, the Association also
makes consumer loans.
The Corporation and the Association operate from an office located at
35 East Broadway, Little Falls, Minnesota. At December 31, 1997, the Corporation
had total consolidated assets and stockholders' equity of approximately $68.6
million and $12.5 million, respectively.
