FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 19, 2001
Oregon Trail Financial Corp.
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(Exact name of registrant as specified in its charter)
Oregon 0-22953 91-1829481
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State or other jurisdiction Commission (I.R.S. Employer
of incorporation File Number Identification No.)
2055 First Street, Baker City, Oregon 97814
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number (including area code): (541) 523-6327
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 January 19, 2001, the Registrant announced that it had provided
documents to Stilwell Associates, L.P., pursuant to a statutory shareholder's
request. The records were made available to the shareholder on January 16,
2001 in accordance with Oregon law and by agreement between the parties.
For further information, reference is made to the Registrant's press
release dated January 19, 2001, which is attached hereto as Exhibit 99 and
incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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Exhibit
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99 Press Release dated January 19, 2001
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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.
OREGON TRAIL FINANCIAL CORP.
DATE: January 19, 2001 By: /s/ Berniel L. Maughan
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Berniel L. Maughan
President and Chief Executive Officer
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Exhibit 99
Press Release Dated January 19, 2001
Oregon Trail Financial Corp. Provides Requested Documents
Baker City, Oregon, Jan. 19, 2001/ Oregon Trail Financial Corp.
(Nasdaq-Amex:OTFC), the holding company for Pioneer Bank, a Federal Savings
Bank, announced today it had provided documents to Stilwell Associates, L.P.
pursuant to a statutory shareholder's request. The records were made available
to the shareholder on January 16, 2001 in accordance with Oregon law, and by
agreement between the parties.
On January 9, 2001 Joseph Stilwell, an affiliate of Stilwell Associates, L.P.,
filed an amended Schedule 13D announcing that by letter dated December 26,
2000, Stilwell Associates, L.P. had requested the right to inspect certain
corporate records of Oregon Trail Financial Corp., and that it had since
commenced a lawsuit in Baker County, Oregon to compel the inspection.
Prior to the filing of the legal action the Company had offered to provide all
information required of it by Oregon law if, among other things, the
shareholder stated a specific time to conduct the inspection and otherwise
complied with the statutory requirements. Stilwell Associates, L.P. then
supplemented its December 26 letter, and the Company provided records to
Stilwell's counsel. A hearing is scheduled in Baker County Circuit Court for
January 24, 2001 to determine whether the Company has fully complied with
Oregon law. The Company believes it has done so, and will move to have the
legal proceeding dismissed; the Company will also ask the court to award it
attorneys' fees and costs as provided by statute. Should the court conclude
that further information needs to be made available for inspection, the
records will be provided.
Berniel Maughan, President of Oregon Trail Financial Corp. said, "We have
every intention of complying with Oregon law, but we have to consider our
obligations to all our shareholders. It is particularly troubling that the
Schedule 13D and court filings to date do not include all relevant
correspondence and do not accurately describe the parties' communications. We
are only insisting that Stilwell Associates, L.P. comply with Oregon law in
seeking the information to which it is entitled."
He continued, "Today we announced numerous steps that we have taken to improve
our performance and to enhance shareholder value. These actions are the
culmination of a planning process that began shortly after I joined the
Company last spring. Although we hope our shareholders will find them
positive steps to benefit their investment in our shares, none of these
initiatives was undertaken at the request or urging of any particular
shareholder."