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) July 3, 1996
CCF HOLDING COMPANY
(Exact Name of Registrant as Specified in Charter)
Georgia 0-25846 58-2173616
(State or Other Jurisdiction (Commission (IRS Employer
Jurisdiction of Incorporation) File Number) Identification No.)
101 North Main Street, Jonesboro, Georgia 30236
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (770) 478-8881
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
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CCF HOLDING COMPANY
INFORMATION TO BE INCLUDED IN REPORT
Item 5. Other Events
The Registrant announced that its Board of Directors had adopted a stock
repurchase program and received a letter of non-objection from the Office of
Thrift Supervision with respect to such program to repurchase up to 10% of the
outstanding shares of the common stock of the registrant between July 11, 1996
and July 10, 1997.
For further details, reference is made to the press release dated July 3,
1996, which is attached hereto as Exhibit 99 and incorporated herein by this
reference.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits
Exhibit 99 -- Press Release dated July 3, 1996.
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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.
CCF HOLDING COMPANY
Date: July 8, 1996 By: /s/ David B. Turner
David B. Turner
President and Chief Executive Officer
EXHIBIT 99
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CCF HOLDING COMPANY CONTACT: David B. Turner
President and Chief Executive
(Nasdaq SmallCap Market: CCFH) Officer
101 North Main Street 770-478-8881
Jonesboro, Georgia 30236
FOR IMMEDIATE RELEASE
July 03, 1996
CCF HOLDING COMPANY ANNOUNCES
Approval of 10% Stock Repurchase Program
Jonesboro, Georgia -- July 03, 1996 -- CCF Holding Company (the "Company")
(Nasdaq SmallCap Market: CCFH), the holding company of Clayton County Federal
Savings and Loan Association, has announced its intention to repurchase up to
113,073 shares of the Company's common stock. Mr. David B. Turner, President,
said the Company has been authorized by its Board of Directors to repurchase up
to 113,073 shares or 10% of its 1,130,738 outstanding shares of common stock.
The Company has received the necessary regulatory approval to make such
purchases in the open market from time to time during the next twelve months.
The repurchases are expected to be made in open-market transactions,
subject to the availability of stock, market conditions, the trading price of
the stock and the Company's financial performance. Such repurchased shares will
become authorized but unissued shares and may be utilized for general corporate
and other purposes, including the issuance of shares in connection with the
exercise of stock options. The repurchase program is expected to be completed by
July 10, 1997, at which time the Company may terminate the program or continue
the program.
At March 31, 1996, the Company reported total consolidated assets and
consolidated stockholders' equity of $78.8 million and $16.7 million,
respectively. Clayton County Federal Savings and Loan Association operates
through its main office located in Jonesboro and through two full service
branches located in Forest Park and Morrow. The Association's deposits are
insured up to legal maximum limits by the Federal Deposit Insurance Corporation
("FDIC").
