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) December 31, 1999
UNITED TRUST GROUP, INC.
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(Exact Name of Registrant as specified in its charter)
ILLINOIS 0-16867 37-1172848
(State or other Juris- (Commission (I.R.S. Employer
diction of incorporation File Number) identification No.)
5250 SOUTH SIXTH STREET
P.O. BOX 5147
SPRINGFIELD, IL 62705
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(Address of principal executive offices, including zip code)
Regisrant's telephone number, including area code (217)-241-6300
Not Applicable
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(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS
On December 31, 1999, United Trust Group, Inc. ("UTG") and Jesse T. Correll
entered into a transaction whereby Mr. Correll, in combination with other
individuals, made an equity investment in UTG. Under the terms of the Stock
Acquisition Agreement, the Correll group contributed their 100% ownership of
North Plaza of Somerset, Inc. to UTG in exchange for 681,818 authorized but
unissued shares of UTG common stock. The Board of Directors of UTG approved the
transaction at their regular quarterly board meeting held on December 7, 1999.
North Plaza of Somerset, Inc. owns a shopping center in Somerset, Kentucky and
approximately 23,000 acres of timberland in Kentucky. North Plaza has no debt.
The assets have been valued at $7,500,000, which equates to $11.00 per share for
the new shares to be issued. UTG common stock is listed on the NASDAQ small cap
with a market quote of $8.125 at close of business on December 31, 1999. The
market price has been in this same range for the entire month of December.
Mr. Correll is a member of the Board of Directors of UTG and currently UTG's
largest shareholder through his ownership control of First Southern Funding, LLC
and its affiliates ("FSF"). Mr. Jesse T. Correll is the majority shareholder of
FSF, which is an affiliate of First Southern Bancorp, Inc., a bank holding
company that operates out of 14 locations in central Kentucky. Prior to the
above transaction, FSF owned approximately 34% of UTG. Following the above
transaction, Mr. Correll owns or controls directly and indirectly approximately
42% of UTG.
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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.
UNITED TRUST GROUP, INC.
(Registrant)
By: /s/ James E. Melville
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James E. Melville
President , Chief Operating
Officer and Director
By: /s/ Theodore C. Miller
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Theodore C. Miller
Senior Vice President and
Chief Financial Officer
Date: January 6, 2000
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