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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) November 20, 1996
Cal Fed Bancorp Inc.
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(Exact name of registrant as specified in its charter)
Delaware 1-14098 95-4539347
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(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
5700 Wilshire Boulevard, Los Angeles, California 90036
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (213) 932-4200
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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
Reference is made to the press release included herein as Exhibit 99, the text
of which is incorporated herein by reference.
ITEM 7. EXHIBITS
Exhibit 99 Press Release of November 20, 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.
Registrant:
Cal Fed Bancorp Inc.
Date: November 20, 1996 /s/ Gary W. Brummett
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Gary W. Brummett
Executive Vice President
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EXHIBIT 99
[LOGO OF CAL FED BANCORP INC.]
CAL FED BANCORP INC. NEWS RELEASE
5700 Wilshire Boulevard
Los Angeles, California 90036
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Contact: James F. Hurley (213) 930-9750
Frank W. Moore (213) 932-4203
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CAL FED BANCORP INC. TO RECORD EXPECTED TAX RECOVERY IN 1996 FOURTH QUARTER
LOS ANGELES, Calif., November 20, 1996 -- Cal Fed Bancorp Inc. (NYSE:CAL),
the parent company of California Federal Bank, FSB, today said that it has
reached agreement with federal tax authorities resolving certain outstanding
issues related to prior years' income tax returns. As a result, the Company
will record income of approximately $55.0 million in the 1996 fourth quarter,
representing the estimated net recovery of prior years' federal and state taxes
and the related interest on such taxes that is expected to be collected.
The Company recently completed meetings with Internal Revenue Service (IRS)
officials regarding certain contested issues for prior years. In those
meetings, the IRS and the Company reached agreement on certain positions taken
by the Company, resulting in the recognition of income for the estimated amount
of income taxes and related interest to be refunded.
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Page 2
Cal Fed Bancorp Inc. is the parent company of California Federal Bank, FSB,
one of the nation's largest publicly-traded savings institutions. The Bank
offers retail and business banking services through 119 savings and seven
lending offices throughout California and Nevada.
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