- Additional Proxy Soliciting Materials (definitive) (DEFA14A)
20 January 2010 - 3:45AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
(Amendment No. )
Filed by the Registrant
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Filed by a Party other than the
Registrant
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Check the appropriate box:
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Preliminary Proxy Statement
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Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
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Definitive Proxy Statement
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Definitive Additional Materials
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Soliciting Material Pursuant to §240.14a-12
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PAMRAPO BANCORP, INC.
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement, if
other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
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Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
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(1)
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Title of each class of securities to which the transaction applies:
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(2)
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Aggregate number of securities to which the transaction applies:
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(3)
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Per unit price or other underlying value of the transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and
state how it was determined):
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(4)
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Proposed maximum aggregate value of the transaction:
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Fee paid previously with preliminary materials.
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Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously.
Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.
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(1)
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Amount Previously Paid:
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(2)
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Form, Schedule or Registration Statement No.:
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We
STILL
NEED to vote,
AGAIN
!
Dear Pamrapo
Stockholder:
As many of you are aware (
by
now), William Campbell, the
former
President & CEO of Pamrapo Bank
has placed advertisements in local publications voicing his displeasure over our pending merger transaction with BCB Bancorp, Inc. In
those
advertisements (and similar mailings), William Campbell asked that all of the facts be disclosed. We
agree.
Here are some
additional
facts you
should
consider:
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During William Campbells tenure as President & CEO, the bank was subpoenaed by a federal grand jury in connection with an
investigation by the United States Department of Justice, the U.S. Attorneys Office for the District of New Jersey
and
the Internal Revenue Service of (among other things) alleged violations of the Bank Secrecy Act
and Anti-Money Laundering laws that occurred on
his
watch.
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During William Campbells tenure as President and CEO, Pamrapo Savings Bank, S.L.A., consented to the issuance of a Cease and Desist Order with
OTS for deficiencies of the Banks Bank Secrecy Act and Anti-Money Laundering Programs that occurred on his watch.
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The Bank was required to retain the services of qualified Compliance Consultants to assist in addressing the BSA and AML deficiencies that occurred
during William Campbells tenure as President & CEO this
increased
professional fees to approximately $1.0 million per quarter.
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The Bank accrued $5.0 million (in a litigation loss reserve) to reflect a
potential
criminal forfeiture in connection with the
DOJ investigation.
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Our Board made the difficult decision (because of the increased expenses) that we could no longer afford to pay a quarterly cash dividend.
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In addition,
the Bank and
its wholly owned subsidiary,
Pamrapo Service Corporation, received federal
grand jury subpoenas
from the U.S. Attorneys Office for the District of New Jersey
relating to the propriety of certain commissions paid to the
former
manager of Pamrapo Service Corporation
through
the
first quarter of 2009.
That
manager was Brian Campbell (the son of William Campbell).
The Board of Directors (
again
)
UNANIMOUSLY
recommends that you vote
FOR
the merger agreement and strongly believes that when you review the benefits of the merger transaction you
will
agree.
We
also
ask that you vote on the WHITE proxy card
ONLY
and
that you discard ANY green proxy that you receive.
On behalf of the Board of Directors,
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Daniel Massarelli
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Chairman of the Board
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Additional Information about the Merger and Where to Find It
Pamrapo and BCB filed with the SEC a joint proxy statement/prospectus regarding the proposed merger on November 12, 2009, which is part
of a Registration Statement on Form S-4 (File No. 333-162433) that was declared effective by the SEC on November 6, 2009. Pamrapo filed a supplement to the joint proxy statement/prospectus on January 11, 2010. STOCKHOLDERS ARE
ENCOURAGED TO READ THE JOINT PROXY STATEMENT/ PROSPECTUS AND THE SUPPLEMENT, AS WELL AS ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER.
The joint proxy statement/prospectus was mailed to stockholders of Pamrapo and BCB on or about November 16, 2009 and the supplement was
mailed to Pamrapo stockholders on or about January 11, 2010. Stockholders may also obtain the supplement, the joint proxy statement/prospectus and other documents that are filed by Pamrapo and BCB with the SEC free of charge at the SECs
website, www.sec.gov. In addition, stockholders may obtain free copies of the documents filed by the companies with the SEC by written request directed to the Corporate Secretary, BCB Bancorp, Inc., 104-110 Avenue C, Bayonne, New Jersey 07002 or by
visiting the BCB website at www.bcbbancorp.com, with respect to documents filed by BCB, and by written request directed to the Secretary, Pamrapo Bancorp, Inc., 611 Avenue C, Bayonne, New Jersey 07002 or by visiting the Pamrapo website at
www.pamrapo.com, with respect to documents filed by Pamrapo.
Pamrapo and BCB, and their respective directors and executive
officers and other members of management and employees may be considered participants in the solicitation of proxies in connection with the proposed merger. Information regarding Pamrapo and BCBs directors and executive officers and their
interests is set forth in the joint proxy statement/ prospectus.
Read the joint proxy statement/prospectus and the
supplement carefully before making a decision concerning the merger.
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PLEASE MARK VOTES
AS IN THIS EXAMPLE
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REVOCABLE PROXY
PAMRAPO BANCORP, INC.
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For
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Against
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Abstain
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PROXY FOR SPECIAL MEETING TO BE HELD ON FEBRUARY 11, 2010
THIS PROXY IS BEING SOLICITED ON
BEHALF OF THE BOARD OF DIRECTORS
The undersigned
shareholder(s) of PAMRAPO BANCORP, INC., a New Jersey corporation (the Company), hereby constitute(s) and appoint(s) the Board of Directors, and each of them, with full power of substitution in each, as the agent, attorneys and proxies
of the undersigned, for and in the name, place and stead of the undersigned, to vote at the special meeting of shareholders of the Company to be held at The Chandelier Restaurant, 1081 Broadway, Bayonne, New Jersey, on February 11, 2010 at 11
a.m. (local time), and any adjournment(s) thereof, all of the shares of stock which the undersigned would be entitled to vote if then personally present at such meeting in the manner specified and on any other business as may properly come before
the meeting.
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1. Adoption of the Agreement and Plan of Merger, dated as of June 29, 2009, as amended on November 5,
2009, by and between BCB Bancorp, Inc. and Pamrapo Bancorp, Inc.
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For
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Against
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Abstain
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2. Adjournment of the special meeting to another time or place for the purpose of soliciting additional
proxies if there are insufficient votes at the time of the special meeting to approve the merger agreement.
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In their discretion, the proxies are
authorized to vote upon such other business as may properly come before the meeting and any adjournment(s) thereof.
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The Board
of Directors recommends a vote FOR Proposal 1 and FOR Proposal 2.
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THIS PROXY
WILL BE VOTED IN ACCORDANCE WITH THE INSTRUCTIONS GIVEN HEREON. IF NO INSTRUCTIONS ARE GIVEN, THIS PROXY WILL BE VOTED FOR EACH OF THE PROPOSALS AND, AT THE PROXIES DISCRETION, UPON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE MEETING
AND ANY ADJOURNMENT(S) THEREOF.
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Please be sure to date and sign
this proxy card in the box below.
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Date
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Sign above
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¿
Detach above card, sign, date and mail in postage paid envelope
provided.
¿
PAMRAPO BANCORP, INC.
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The above signed acknowledges receipt from the Company, prior to the execution of this Proxy, of a Revised Notice of Special Meeting and a Joint Proxy Statement/Prospectus and a
Supplement thereto relating to the special meeting.
Please sign exactly as name appears hereon. When shares are held by joint tenants, both should sign. When signing as attorney, executor, administrator, trustee or guardian, please give full title as such. If a
corporation, please sign in full corporate name by president or other authorized officer. If a partnership, please sign in partnership name by authorized person.
PLEASE MARK, SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING THE ENCLOSED ENVELOPE.
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IF YOUR ADDRESS HAS CHANGED, PLEASE CORRECT THE ADDRESS IN THE SPACE PROVIDED BELOW
AND RETURN THIS PORTION WITH THE PROXY IN THE ENVELOPE PROVIDED.
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