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 16, 1999



                       EAST TEXAS FINANCIAL SERVICES, INC.
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             (Exact name of Registrant as specified in its Charter)



    Delaware                      0-24848                         75-2559089
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 (State or other            (Commission File No.)               (IRS Employer
 jurisdiction of                                                 Identification
 incorporation                                                      Number)



1200 South Beckham Avenue, Tyler, Texas                           75701-3319
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(Address of principal executive offices)                          (Zip Code)



Registrant's telephone number, including area code:             (903) 593-1767
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                                       N/A
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          (Former name or former address, if changed since last report)

Item 5.  Other Events

         On December 16, 1999, the Registrant  issued for  publication the press
release  attached as Exhibit "99" announcing  earnings for the fiscal year ended
September 30, 1999.

Item 7.  Financial Statements and Exhibits

         The  Exhibit  referred  to in Item 5 of this  Report  and listed on the
accompanying  Exhibit Index is filed as part of this Report and is  incorporated
herein by reference.

Exhibit
Number                                            Description
- ------                                            -----------

  99                             Press release, published on December 16, 1999.

                                   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 thereunto duly authorized.

                                             EAST TEXAS FINANCIAL SERVICES, INC.

Date:  December 16, 1999                     By: /s/ GERALD W. FREE
                                                 -------------------------------
                                                 Gerald W. Free
                                                 Vice Chairman, President
                                                 And Chief Executive Officer