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) November 15, 2002
FirstFed Financial Corp.
(Exact name of registrant as specified in its charter)
Delaware 1-9566 95-4087449
(State of Incorporation)(Commission File No.)(IRS Employer Identification No.)
401 Wilshire Bouelvard, Sanata Monica, California 90401-1490
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (310) 319-6000
Total number of pages is 4
Index to Exhibit is on Page 3.
Item 5. Other Events.
On November 15, 2002, the registrant, FirstFed Financial Corp.,
issued a press release. A copy of this press release is attached
and incorporated herein as Exhibit 99.
Item 99. Press release dated November 15, 2002.
S I G N A T U R E S
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.
FIRSTFED FINANCIAL CORP.
Dated: November 15, 2002 By: /s/ Babette E. Heimbuch
Babette E. Heimbuch
Chief Executive Officer
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INDEX TO EXHIBITS
Item Page
99 Press Release dated November 15, 2002 4
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FIRSTFED ANNOUNCES STOCK REPURCHASE AUTHORIZATION
Santa Monica, California, November 14, 2002 - FirstFed
Financial Corp. (NYSE-FED), parent company of First Federal Bank of
California, announced that on November 14, 2002 its Board of
Directors authorized an expansion of its stock repurchase program.
The expansion will allow the Company to repurchase an additional
846,461 shares, which represents approximately 5% of the Company's
shares outstanding as of November 13, 2002. Pursuant to previous
Board action, the Company has remaining authority to purchase
536,016 shares of Company stock.
Since January 1, 2002 the Company has repurchased
approximately 353,000 shares at an average price of $25.02 per
share. The aggregate repurchases over this eleven-month period
represent approximately 2% of the shares outstanding at January 1,
2002. Ms. Babette Heimbuch, Chief Executive Officer of the
Company, stated, "We are pleased to have this additional authority
to enable us to take advantage of current market opportunities.
Our Board and management believe that the repurchase of stock at an
attractive price continues to have value for our stockholders."
First Federal Bank of California continues to exceed the
capital requirements necessary to be deemed "well capitalized" for
regulatory capital purposes.
This press release contains certain forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Act of 1995. These forward-looking statements are
subject to various factors, many of which are beyond the Company's
control, which could cause actual results to differ materially from
such statements. Such factors include, but are not limited to, the
possibility that the repurchase transactions discussed herein may
not be consummated or may be delayed due to changing economic,
market or business conditions. In addition, these forward-looking
statements are subject to assumptions as to future business
strategies and decisions that are subject to change. The Company
makes no guarantee or promises regarding future results and assumes
no responsibility to update such forward-looking statements.
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