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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)
February 6, 1997
BEAL FINANCIAL CORPORATION
(Exact name of Registrant as specified in its Charter)
TEXAS 33-93312 75-2583551
(State or other (Commission File No.) (IRS Employer
jurisdiction of Identification Number)
incorporation)
SUITE 300, LB 66, 15770 NORTH DALLAS PARKWAY 75248
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (214) 404-4000
N/A
(Former name or former address, if changed since last report)
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ITEM 8. CHANGE IN FISCAL YEAR
On February 6, 1997, the Registrant issued the press release attached as
Exhibit 99 announcing that its shareholders had unanimously approved a change
in the status of the Registrant for federal income tax purposes to a
Subchapter S Corporation, and accordingly, changing its fiscal year end from
June 30 to December 31. As a result the Registrant will file a Form 10-K for
the period ended December 31, 1996.
The foregoing information does not purport to be complete and is
qualified in its entirety by reference to the Exhibit to this Report.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
c) Exhibits
The Exhibit referred to in Item 8 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 Description Page No.
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99 Press release, dated February 6, 1997 5
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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.
BEAL FINANCIAL CORPORATION
Date: February 10, 1997 By: /s/ David R. Farmer
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David R. Farmer
Sr. Vice President
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February 6, 1997
FOR IMMEDIATE RELEASE Contact
David R. Farmer
Beal Bank, SSB
(972)404-4000
BEAL FINANCIAL CORPORATION ADOPTS SUBCHAPTER-S STATUS
AND CHANGES FISCAL YEAR TO DECEMBER 31
DALLAS, TEXAS -- Beal Financial Corporation (the "Corporation"), the
Holding Company for Beal Bank, today announced that the shareholders of the
Corporation had unanimously approved a change in the status of the Corporation
for Federal Income Tax purposes from a Subchapter-C Corporation to a
Subchapter-S Corporation, effective January 1, 1997. This change in tax
status resulted in the Corporation changing it's fiscal year-end from June 30
to December 31, effective December 31, 1996.
The change in both the Corporation's tax and fiscal year-end will
require the Corporation to undergo an audit of their financial statements as
of December 31, 1996 and to file a Form 10-K as of December 31, 1996. The
Corporation will not file a Form 10-Q for the quarter ended December 31,
1996, which would normally have been filed on, or before, February 14, 1997.
In accordance with SEC Regulations, it is intended that the Form 10-K will be
filed on, or before May 5, 1997.
