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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 30, 1996
DAMEN FINANCIAL CORPORATION
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(Exact name of Registrant as specified in its Charter)
Delaware 0-26574 36-4029638
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(State or other (Commission File No.) (IRS Employer
jurisdiction of Identification
incorporation) Number)
200 West Higgins Road, Schaumburg, Illinois 60195
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (708) 882-5320
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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 July 30, 1996, the Registrant issued the attached press release
announcing the completion of the repurchase of 5% of its outstanding shares in
the open market.
Item 7. Financial Statements and Exhibits
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(a) Exhibits
99 Press release dated July 30, 1996.
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SIGNATURE
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.
DAMEN FINANCIAL CORPORATION
Date: July 30, 1996 By: /s/ Gerald R. Gartner
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Gerald R. Gartner, Treasurer, Chief
Financial Officer (Principal
Financial and Accounting Officer)
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<TABLE>
Index to Exhibits
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Sequentially
Numbered Page
Where Attached
Exhibit Exhibits
Number are Located
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<C> <S> <C>
99 Press release dated July 30, 1996 5
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[DAMEN FINANCIAL LETTERHEAD]
For Immediate Release For Information Contact: Mary Beth Poronsky Stull
Date: July 30, 1996 (847) 882-5320
DAMEN FINANCIAL CORPORATION
ANNOUNCES COMPLETION OF STOCK REPURCHASE PROGRAM
SCHAUMBURG, ILLINOIS, July 30, 1996 - Damen Financial Corporation (NASDAQ:
"DFIN"), the holding company for Damen Federal Bank for Savings, announced the
completion of the repurchase of 5% of its outstanding shares in the open
market. These shares were purchased at prevailing market prices of $11.625 to
$11.75 over the past three weeks. The Company previously repurchased 4% of its
outstanding shares in the open market to fund its Recognition and Retention
Plan.
Mary Beth Poronsky Stull, Chairman, President and Chief Executive Officer
of the Company, stated that, "The Board of Directors believes that the
repurchase of our shares represents an attractive investment opportunity which
will benefit the Company and our stockholders. The reacquired shares will
become treasury shares and will be used for general corporate purposes,
including the issuance of shares in connection with the exercise of stock
options."
The Company was organized in 1995 to act as the holding company of the
Bank. The Bank, headquartered in Schaumburg, Illinois, primarily serves the
communities in its market area through its offices located in Schaumburg,
Chicago and Burbank, Illinois.
At June 30, 1996, the Company had consolidated total assets of $237
million and stockholders' equity of $55 million. On July 30, 1996, the Company
had 3,750,278 shares outstanding.
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