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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) June 10, 1996
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GREAT AMERICAN BANCORP, INC.
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(Exact name of registrant as specified in its charter)
Delaware 000-25808 52-1923366
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification Number)
1311 S. Neil St., P.O. Box 1010, Champaign, IL 61824-1010
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(Address of principal executive offices) (Zip Code)
(217) 356-2265
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(Registrant's telephone number, including area code)
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Item 5. Other Events.
The Registrant incorporates by reference the press releases
dated June 11, 1996 and June 12, 1996 attached as Exhibits 20.1
and 20.2, relating to the Registrant's stock repurchase program and
quarterly cash dividend declaration.
Item 7. Financial Statements and Exhibits.
The Registrant incorporates by reference the press releases
dated June 11, 1996 and June 12, 1996 attached as Exhibits 20.1
and 20.2, relating to the Registrants stock repurchase program and
quarterly cash dividend declaration.
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.
Great American Bancorp, Inc.
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(Registrant)
Date June 13, 1996 /s/ Jane F. Adams
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Jane F. Adams
Chief Financial Officer
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EXHIBIT INDEX
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Exhibit
No. Description Method of Filing
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20.1 News Release Filed herewith
Dated 6/11/96
20.2 News Release Filed herewith
Dated 6/12/96
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Exhibit 20.1
NEWS RELEASE
Great American Bancorp, Inc.
Holding Company for First Federal Savings Bank of Champaign-Urbana
FOR IMMEDIATE RELEASE
June 11, 1996
Contact: Ms. Jane F. Adams
Chief Financial Officer and Investor Relations
(217) 356-2265
GREAT AMERICAN BANCORP, INC.
5% STOCK REPURCHASE AND $0.10 PER SHARE QUARTERLY DIVIDEND
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Champaign, Illinois, June 11, 1996 - Great American Bancorp,
Inc. (NASDAQ/GTPS). Today, Great American Bancorp, Inc., (the
"Company"), the holding company for First Federal Savings Bank
of Champaign-Urbana, (the "Bank"), announced that at the
Companys Board of Directors meeting held on June 10, the Board
of Directors adopted a stock repurchase program whereby,
beginning on or about July 1, 1996, the Company will buy back up
to 5% of the Companys outstanding common stock, or 92,332
shares, subject to the Office of Thrift Supervisions
non-objection of the stock repurchase program. The shares will
be purchased from time to time, depending upon market
conditions, in open market transactions over the six months
following the commencement of the stock repurchase program. The
stock repurchase program will be the first stock repurchase
program undertaken by the Company.
Also on June 10, 1996, the Companys Board of Directors adopted a
policy to pay quarterly cash dividends, subject to the continued
financial strength of the Company and the Bank and the ability
of the Company to satisfy all applicable statutory and
regulatory capital and asset maintenance requirements. The
Board of Directors then declared a $0.10 per share dividend,
payable on July 8, 1996 to shareholders of record as of the
close of business on June 24, 1996.
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Great American Bancorp, Inc.
Holding Company for First Federal Savings Bank of Champaign-Urbana
News Release, page 2
June 11, 1996
George R. Rouse, President and Chief Executive Officer of the
Company commented, "We believe that the stock repurchase is a
good method by which to enhance shareholder value as such
repurchases are anticipated to have the effect of increasing
earnings per share and book value of the remaining outstanding
shares. We believe that the Companys dividend policy will make
the Companys stock more attractive to those investors desiring a
long-term investment that is income producing."
At March 31, 1996, the Company had assets of $120,540,000 and
the Bank operated three offices in the Champaign-Urbana area.
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GTPS-pr-96-04
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EXHIBIT 20.2
NEWS RELEASE
Great American Bancorp, Inc.
Holding Company for First Federal Savings Bank of Champaign-Urbana
FOR IMMEDIATE RELEASE
June 12, 1996
Contact: Ms. Jane F. Adams
Chief Financial Officer and Investor Relations
(217) 356-2265
GREAT AMERICAN BANCORP, INC.
CORRECTION
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Champaign, Illinois, June 12, 1996 - Great American Bancorp,
Inc. (NASDAQ/GTPS). On June 11, 1996, Great American Bancorp,
Inc., (the "Company"), issued a news release announcing that the
Companys Board of Directors had adopted a stock repurchase
program to buy back up to 5% of the Companys outstanding common
stock, which the news release indicated was 92,332 shares. The
correct number of shares to be repurchased, however, should be
102,638.
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