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: March 24, 1997
MS FINANCIAL, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-26474 64-0835847
(State or other jurisdiction (Commission (IRS Employer
of incorporation or organization) File Number) I. D. Number)
715 S. Pear Orchard Road
Suite 300
Ridgeland, Mississippi 39157 (601) 978-6737
(Address of principal executive (Registrant's telephone number,
offices) (Zip Code) including area code)
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Item 5. Other Events
On March 6, 1997, MS Financial, Inc. announced the
resignation of Philip J. Hubbuch, Jr., vice chairman and CEO,
effective February 28, 1997, to pursue other business interests.
The company recently announced terms of Search Capital
Group's pending acquisition of MS Financial.
MS Financial is a specialized consumer finance company that
purchases and services retail installment contracts on new and
used cars and light duty trucks. The company serves more than
800 dealerships in 13 states.
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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, hereunto duly authorized.
MS FINANCIAL, INC.
Dated: March 24, 1997 By:/s/ R. Dale Miller
R. Dale Miller
Controller and Principal
Accounting Officer
