EXHIBIT 99.1
FOR IMMEDIATE RELEASE
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For: MAF Bancorp, Inc. Contact: Jerry A. Weberling,
55th Street & Holmes Avenue Chief Financial Officer
Clarendon Hills, IL 60514 Michael J. Janssen,
Senior Vice President
www.mafbancorp.com (630) 325-7300
MAF BANCORP, INC. TO PARTICIPATE IN
KEEFE, BRUYETTE & WOODS COMMUNITY BANK INVESTOR CONFERENCE
Clarendon Hills, Illinois, July 28, 2003 - MAF Bancorp, Inc. (MAFB), announced
that it will be participating in the Keefe, Bruyette & Woods 4th Annual
Community Bank Investor Conference to be held in New York, NY on July 29-31,
2003. The conference will be broadcast on the Internet at www.kbw.com and will
also be available through MAF's website at www.mafbancorp.com. Through the
websites, interested investors will have the opportunity to hear the
presentation by Allen Koranda, Chairman of the Board and CEO of MAF Bancorp and
Kenneth Koranda, President of MAF Bancorp, which is scheduled to be delivered on
Wednesday, July 30, 2003 at 8:50 a.m. Central Time. The presentation will also
be available on the websites for approximately thirty days following the
conference.
In connection with the KBW conference, the Company confirmed today that it is
comfortable with analysts' mean consensus earnings estimate for 2004 of $3.75
per share.
MAF Bancorp is the parent company of Mid America Bank, a federally chartered
stock savings bank. The Bank operates a network of 43 retail banking offices
primarily in Chicago and its western suburbs. The Company's common stock trades
on the Nasdaq Stock Market under the symbol MAFB.
Forward-Looking Information
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Statements contained in this news release that are not historical facts
constitute forward-looking statements (within the meaning of Section 21E of the
Securities Exchange Act of 1934, 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. These
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, higher than expected costs or
unanticipated difficulties associated with the integration of Fidelity Bancorp
into MAF, difficulties or delays in completing the acquisition of St. Francis
Capital Corporation, difficulties in the integration or delays in the data
processing conversion which may affect MAF's ability to achieve anticipated cost
savings related to the operation of the acquired banking offices of St. Francis,
higher than expected costs related to the St. Francis transaction, unanticipated
changes in interest rates or flattening of the yield curve, deteriorating
economic conditions which could result in increased delinquencies in MAF's or
St. Francis' loan portfolio, changes in purchase accounting adjustments and/or
amortization periods relating to the St. Francis acquisition, 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 MAF's or St. Francis' loan or investment portfolios,
or further deterioration in the value of investment securities, demand for loan
products, secondary mortgage market conditions, deposit flows, competition,
demand for financial services and residential real estate in MAF's and St.
Francis' market area, 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.
NOTE: The following notice is included to meet certain legal requirements.
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MAF will be filing a registration statement containing a joint proxy
statement/prospectus and other documents regarding its proposed acquisition of
St. Francis with the Securities and Exchange Commission. MAF and St. Francis
shareholders are urged to read the proxy statement/prospectus when it becomes
available, because it will contain important information about MAF and St.
Francis, and the proposed transaction. When available, copies of this joint
proxy statement/prospectus will be mailed to MAF and St. Francis shareholders,
and it and other documents filed by MAF or St. Francis with the SEC may be
obtained free of charge at the SEC's web site at http://www.sec.gov, or by
directing a request to MAF at 55th Street & Holmes Avenue, Clarendon Hills, IL
60514 or St. Francis at 13400 Bishops Lane, Suite 350, Brookfield, Wisconsin
53005-6203.
MAF and St. Francis and their respective directors, executive officers and
certain other members of management and employees may be deemed to be
participants in the solicitation of proxies from the shareholders of MAF and St.
Francis in favor of the proposed merger. Information regarding such persons can
be found in MAF's and St. Francis' respective proxy statements, annual reports
on Form 10-K and quarterly reports on Form 10-Q filed with the SEC. Additional
information regarding the interests of such persons will also be set forth in
the joint proxy statement/prospectus when it is filed with the SEC.
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