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): March 24, 1998
Oregon Trail Financial Corp.
----------------------------
(Exact name of registrant as specified in its charter)
Oregon 0-22953 91-1829481
- --------------------------- --------- ------------------
State or other jurisdiction Commission (I.R.S. Employer
of incorporation File Number Identification No.)
2055 First Street, Baker City, Oregon 97814
- ---------------------------------------- ---------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number (including area code): (541) 523-6327
Not Applicable
--------------
(Former name or former address, if changed since last report)
Item 5. Other Events
- ---------------------
On March 24, 1998, the Registrant announced that Dan L. Webber resigned
as President and Chief Executive Officer of the Registrant and its
wholly-owned subsidiary, Pioneer Bank, A Federal Savings Bank ("Pioneer
Bank"), effective March 24, 1998 to pursue other business interests. Mr.
Webber also resigned as a director of the Registrant (he was not a director of
Pioneer Bank). The Registrant also announced that Jerry F. Aldape, Senior
Vice President of the Registrant and Pioneer Bank, was appointed to succeed
Mr. Webber as President and Chief Executive Officer of the Registrant and
Pioneer Bank.
For further information, reference is made to the Registrant's press
release dated March 24, 1998, which is attached hereto as Exhibit 99 and
incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
- ---------------------------------------------------------------------------
Exhibit
-------
99 Press Release dated March 24, 1998
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: March 27, 1998 By: /s/Jerry F. Aldape
--------------------------------------
Jerry F. Aldape
President and Chief Executive Officer
Exhibit 99
Press Release Dated March 24, 1998
**FOR IMMEDIATE RELEASE**
---------------------
Contact:
Jerry F. Aldape
President and Chief Executive Officer
(541) 523-6327
OREGON TRAIL FINANCIAL CORP.
NAMES NEW PRESIDENT AND CHIEF EXECUTIVE OFFICER
(Baker City, Oregon; March 24, 1998). John Gentry, Chairman of the Board
of Oregon Trail Financial Corp. (Nasdaq NMS "OTFC") and its wholly-owned
subsidiary, Pioneer Bank, A Federal Savings Bank, announced today that Dan L.
Webber has resigned as President and Chief Executive of the Company and
Pioneer Bank effective March 24, 1998 to pursue other business interests. Mr.
Webber also resigned as a director of the Company. He was not a director of
Pioneer Bank. Jerry F. Aldape, Senior Vice President of the Company and
Pioneer Bank, has been appointed President and Chief Executive Officer of the
Company and Pioneer Bank to succeed Mr. Webber.
"We are extremely grateful to Dan [Webber] for his dedicated leadership
and service to the Company and Pioneer Bank. He led Pioneer Bank skillfully
through its successful mutual to stock conversion last year. We wish him the
best of luck in his future endeavors," said Mr. Gentry.
Commenting on the Board of Directors decision to name Mr. Aldape as
successor to Mr. Webber, Mr. Gentry stated, "As a key member of senior
management, Jerry [Aldape] is thoroughly familiar with the operations of the
Company and Pioneer Bank and the Board views his appointment as a seamless
transition and a continuation of the established operating philosophies, goals
and strategies of the Company and Pioneer Bank."
The Company is the savings and loan holding for Pioneer Bank, which
converted from the mutual to stock form of organization effective October 3,
1997. At December 31, 1997, the Company had consolidated total assets of $257
million and stockholders' equity of $66 million.
# # #