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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
February 28, 1997
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Date of Report (Date of earliest event reported):
SECURITY BANCORP
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(Exact name of registrant as specified in its charter)
Montana 0-23838 81-0486553
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(State or Other (Commission (IRS Employer
Jurisdiction File Number) Identification Number)
of Incorporation)
219 North 26th Street, Billings, Montana 59101
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(Address of principal executive offices - zip code)
Registrant's telephone number, including area code: (406) 238-4800
Not applicable
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(Former Name or Former Address, If Changed Since Last Report)
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ITEM 1 - CHANGES IN CONTROL OF REGISTRANT
Effective on Friday, February 28, 1997, Security Bancorp, Billings,
Montana ("Security"), completed its pending merger with WesterFed Financial
Corporation, Missoula, Montana ("WesterFed"), with WesterFed as the surviving
corporation. The Merger was accomplished pursuant to an Agreement and Plan of
Merger, dated September 24, 1996 ("Merger Agreement"). The Merger Agreement was
included as an exhibit to the Form 8-K dated September 24, 1996, previously
filed with the Securities and Exchange Commission.
Consummation of the acquisition was subject to several conditions,
including receipt of applicable regulatory approvals and approval by Security's
and WesterFed's shareholders. Security and WesterFed applied for and received
the necessary approvals referenced above. Security's shareholders approved the
Merger at its meeting on Monday, February 24, 1997. WesterFed's shareholders
approved the Merger at its meeting on Tuesday, February 25, 1997.
Pursuant to the terms of the Merger Agreement, each outstanding share of
Security common stock was converted into either shares of WesterFed common stock
or cash pursuant to an exchange formula.
ITEM 7 - FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements. Not applicable.
(b) Pro forma financial information. Not applicable.
(c) Exhibits:
(99.1) Press Release dated February 28, 1997 announcing the closing
of the Merger.
(99.2) Form 15 dated February 28, 1997, as transmitted for filing by
Security to deregister Security's common stock pursuant to
Rule 12g-4(a)(1)(i).
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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.
Dated: February 28, 1997
SECURITY BANCORP
By: /s/ David W. Jorgenson
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David W. Jorgenson
President and Chief Executive Officer