Citizens Bancorp/Or - Current report filing (8-K)
21 December 2007 - 3:15AM
Edgar (US Regulatory)
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): December 18, 2007
CITIZENS BANCORP/OR
(Exact name of registrant as specified in its charter)
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Oregon
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000-23277
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91-1841688
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(State or other Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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275 Southwest Third
Street
Corvallis, Oregon
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97339
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(Address of Principal Executive Offices)
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(Zip Code)
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Registrant’s telephone number,
including area code:
(541) 752-5161
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(Former name or former address if changed since last report.)
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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:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
þ
Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item 8.01. Other Events
On December 20, 2007 Citizens Bancorp (the Company) announced that its shareholders have
approved amendments to its Articles of Incorporation effecting a share reclassification and
redemption, whereby shareholders owning less than 2,500 shares of Company common stock will receive
one share of Series A Preferred Stock for each share of common stock they own, and shareholders
owning less than 250 shares of Company common stock will receive cash at the rate of $23.50 per
share. Shares of common stock held by shareholders owning more than 2,500 shares will remain
outstanding and will be unaffected by the reclassification. The amendments were approved at a
Special Meeting of Shareholders held on December 18, 2007.
Citizens Bancorp filed its amended Articles on December 19, 2007, as a result of which its
number of common shareholders of record was reduced to below 300. The Company thereafter filed a
Form 15 with the Securities and Exchange Commission (SEC). This has the effect of deregistering
the Companys common stock under the Securities Exchange Act of 1934, as amended, and, therefore,
terminating its obligations to file reports with the SEC. The Company will no longer file periodic
reports with the SEC, including annual reports on Form 10-K and quarterly reports on Form 10-Q.
A copy of the Companys press release making this announcement is attached hereto as Exhibit
99.1.
Item 9.01. Financial Statements and Exhibits
(c)
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This exhibit is being provided solely for the purpose of
providing disclosure pursuant to Item 8.01, Results of Operations
and Financial Condition.
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(99.1)
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Press Release of Citizens Bancorp dated December 20, 2007.
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Disclosures About Forward-Looking Statements
The discussions included in this document and its exhibits may contain forward looking
statements within the meaning of the Private Securities Litigation Act of 1995, including Section
21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933. Such
statements involve known and unknown risks, uncertainties and other factors that may cause actual
results to differ materially. For the purposes of these discussions, any statements that are not
statements of historical fact may be deemed to be forward looking statements. Such statements are
often characterized by the use of qualifying words such as expects, anticipates, believes,
estimates, plans, projects, or other statements concerning opinions or judgments of the
Company and its management about future events. The accuracy of such forward looking statements
could be affected by such factors as, including but not limited to, the financial success or
changing conditions or strategies of the Companys customers or vendors, fluctuations in interest
rates, actions of government regulators, the availability of capital and personnel or general
conditions.
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.
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Dated: December 20, 2007
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CITIZENS BANCORP
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By:
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/s/ William V. Humphreys
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William V. Humphreys
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President and Chief Executive Officer
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EXHIBIT INDEX
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Exhibit
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No.
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Description
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(99.1)
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Press Release of Citizens Bancorp dated December 20, 2007.
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