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 28, 2007
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OTTAWA SAVINGS BANCORP, INC.
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(Exact Name of Registrant as Specified in Its Charter)
United States 0-51367 20-3074627
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(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification No.)
925 LaSalle Street, Ottawa, IL 61350
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(Address of principal executive offices) (Zip Code)
(815) 433-2525
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 8.01 OTHER EVENTS
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On November 28, 2007, the Board of Directors of Ottawa Savings Bancorp,
Inc. (the "Company") approved a repurchase program for up to 100,120 shares of
the Company's outstanding common stock, which is approximately 10.0% of the
Company's outstanding shares not held by Ottawa Savings Bancorp MHC. This
program depends in significant part upon receipt of a dividend from the
Company's subsidiary, Ottawa Savings Bank, which is subject to non-objection by
Ottawa Savings Bank's primary regulator, the Office of Thrift Supervision.
A copy of the press release announcing the stock repurchase program is
attached hereto as Exhibit 99.1 and is incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
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(d) Exhibits
Number Description
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99.1 Press Release dated November 28, 2007
SIGNATURE
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.
Date: November 29, 2007 By: /s/ Jon L. Kranov
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Jon L. Kranov
Senior Vice President and Chief Financial
Officer