SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 20, 1997
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FIRST FEDERAL FINANCIAL CORPORATION OF KENTUCKY
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(Exact name of registrant as specified in its charter)
Kentucky 0-18832 61-1168311
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
2323 Ring Road, Elizabethtown, Kentucky 42701
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(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code: (502)765-2131
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Not Applicable
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(Former name or former address, if changed since last report)
Item 5. Other Events
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On July 22, 1997 the registrant's Board of Directors authorized
establishment of a stock repurchase program pursuant to which the registrant may
repurchase up to 208,500 shares of its common stock, which represents
approximately 5% of its outstanding stock, from time to time in the open market.
Such stock purchases are expected to be completed within 18 months. For
information regarding the repurchase program, reference is made to the
registrant's press release dated August 5, 1997 which is attached hereto as
Exhibit 28.1 and incorporated herein by reference.
Item 7. Financial Statements, Pro Forms Financial Information
- ------- and Exhibits
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Exhibit 28.1 - Press Release dated August 5, 1997.
EXHIBIT 28.1
NEWS RELEASE
For Immediate Release - August 5, 1997
Contact: B. Keith Johnson
Acting President & C.E.O.
FIRST FEDERAL FINANCIAL CORPORATION OF KENTUCKY
ANNOUNCES STOCK REPURCHASE PROGRAM
ELIZABETHTOWN, Kentucky (July 30, 1997) - First Federal Financial Corporation of
Kentucky (NASDAQ symbol "FFKY") announced today that it is commencing a stock
repurchase program to acquire up to 5% of the corporation's currently
outstanding shares of common stock. The program will be dependent upon market
conditions and S.E.C. regulations, and there is no guarantee as to the exact
number of shares to be repurchased by the corporation.
B. Keith Johnson, Acting President and Chief Executive Officer, stated, "Due to
the success of the previous stock repurchase program which expired in July 1997,
the Board of Directors decided to implement a new 18 month stock repurchase
program. Among other benefits of the previous program, the repurchase of 104,000
shares resulted in an enhancement of earnings per share."
According to Mr. Johnson, the repurchase generally would be effected through
open market purchases, although he did not rule out the possibility of
unsolicited negotiated transactions or other types of repurchases.
First Federal Financial Corporation of Kentucky is a $377 million family
financial services holding company serving central Kentucky and is the parent of
First Federal Savings Bank of Elizabethtown which operates eight full service
offices in the central Kentucky towns of Elizabethtown, Radcliff, Bardstown,
Munfordville, Shepherdsville, and Mt. Washington.
The common stock of First Federal Financial Corporation is traded on the NASDAQ
system under the symbol "FFKY." Market makers for the stock are J.J.B. Hilliard,
W.L. Lyons, Inc., and Capital Resources, Inc.
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.
FIRST FEDERAL FINANCIAL CORPORATION
OF KENTUCKY
BY: B. Keith Johnson
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B. Keith Johnson
Acting Chief Executive Officer/
Executive Vice President
Date: August 20, 1997