UNITED STATES
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 30, 2002
MAF BANCORP, INC.
(Exact name of registrant as specified in its charter)
_____________________________
DELAWARE 0-18121 36-3664868
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
Incorporation) Identification No.)
55TH STREET & HOLMES AVENUE 60514
CLARENDON HILLS, ILLINOIS (Zip Code)
(Address of principal executive
offices)
Registrant's telephone number, including area code (630) 325-7300
NOT APPLICABLE
(Former name or former address, if changed since last year)
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Item 5. Other Events.
On December 30, 2002, MAF Bancorp's banking subsidiary, Mid America
Bank, fsb, announced that it has reached agreement with the U.S. Department of
Justice to resolve the previously announced investigation by the DOJ into the
bank's home mortgage lending practices during the 1996 to 2000 period. While
denying that it has at any time violated fair lending laws, the bank agreed to
settle the matter in order to avoid the time and expense of protracted
litigation. The key provisions of the agreed consent order are described in the
attached press release which is incorporated herein by reference.
The terms of the settlement are not expected to have any material
impact on MAF Bancorp's earnings. After giving effect to the implementation of
the agreed order, the company still expects to meet or exceed analysts' current
consensus estimate of $3.29 per share for 2003. The company plans to provide
further earnings guidance for 2003 when releasing 2002 annual results, scheduled
for the last week of January.
Forward-Looking Information
---------------------------
Statements contained in or incorporated into this report that are not historical
facts constitute forward-looking statements (within the meaning of Section 21E
of the Securities Exchange Act of 1934, as amended, and Section 27 of the
Securities Act of 1933, as amended), which involve significant risks and
uncertainties. The Company intends such forward-looking statements to be covered
by the safe harbor provisions for forward-looking statements contained in the
Private Securities Litigation Reform Act of 1995, and is including this
statement for purposes of invoking these safe harbor provisions. Forward-looking
statements, which are based on certain assumptions and describe future plans,
strategies and expectations of the Company, are generally identifiable by use of
the words "believe," "expect," "intend," "anticipate," "estimate," "project,"
"plan," or similar expressions. The Company's ability to predict results or the
actual effect of future plans or strategies is inherently uncertain and actual
results may differ from those predicted. The Company undertakes no obligation to
update these forward-looking statements in the future. Factors which could have
a material adverse effect on operations and could affect management's outlook or
future prospects of the Company and its subsidiaries include, but are not
limited to, unanticipated developments related to fulfilling the agreement with
the U.S. Department of Justice, difficulties in achieving anticipated cost
savings related to the operation of the acquired banking offices or higher than
expected costs related to the Fidelity Bancorp, Inc. acquisition, unanticipated
changes in interest rates, deteriorating economic conditions which could result
in increased delinquencies in the Company's or Fidelity's loan portfolio,
legislative or regulatory developments, monetary and fiscal policies of the U.S.
Government, including policies of the U.S. Treasury and the Federal Reserve
Board, the quality or composition of the Company's or Fidelity's loan or
investment portfolios, demand for loan products, secondary mortgage market
conditions, deposit flows, competition, demand for financial services and
residential real estate in the Company's and Fidelity's market areas,
unanticipated slowdowns in real estate lot sales or problems in closing pending
real estate contracts, delays in real estate development projects, the possible
short-term dilutive effect of other potential acquisitions, if any, and changes
in accounting principles, policies and guidelines. These risks and uncertainties
should be considered in evaluating forward-looking statements and undue reliance
should not be placed on such statements.
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Item 7(c). Exhibits.
Exhibit 99.1 Press Release dated December 30, 2002.
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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 hereunto duly authorized.
MAF BANCORP, INC.
By: /s/ Jerry A. Weberling
-----------------------------------------
Jerry A. Weberling
Executive Vice President and
Chief Financial Officer
Date: December 30, 2002
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INDEX TO EXHIBITS
Exhibits
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Exhibit 99.1 Press Release dated December 30, 2002.
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