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 28, 2012
Cardinal Bankshares Corporation
(Exact name of registrant as specified in its charter)
Virginia | 0-28780 | 54-1804471 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
101 Jacksonville Circle, P.O. Box 215 Floyd, Virginia |
24091 | |||
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (540) 745-4191
Not Applicable
(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. |
On June 28, 2012, Cardinal Bankshares Corporation (the Company) announced that it has reached a settlement agreement with former Bank of Floyd executive Henry A. Logue. The settlement agreement resolves Cardinals verified complaint captioned Cardinal Bankshares Corporation v. Henry A. Logue (Civil Action No. 7:12-cv-00198l, and a related counterclaim, which were pending in the U.S. District Court, Western District of Virginia. All claims and counterclaims related to the complaint filed by the Company and its bank subsidiary against Mr. Logue were dismissed.
A copy of the press release announcing the settlement is attached as Exhibit 99.1 to this report and is incorporated herein by reference.
Item 9.01. | Financial Statements and Exhibits. |
(d) | Exhibits. |
The following exhibit is filed herewith:
Exhibit |
Description of Exhibit | |
99.1 | Press release dated June 28, 2012. |
2
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.
CARDINAL BANKSHARES CORPORATION | ||||||
Dated: June 29, 2012 | By: | /s/ J. Alan Dickerson | ||||
J. Alan Dickerson | ||||||
Chief Financial Officer & Vice-President |
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EXHIBIT INDEX
Exhibit |
Description of Exhibit | |
99.1 | Press release dated June 28, 2012. |
Exhibit 99.1
NEWS RELEASE
FOR IMMEDIATE RELEASE
June 28, 2012
Contact:
Michael Larrowe
President and CEO
Bank of Floyd
(540) 745-5210
Bank of Floyd, former employee reach agreement
FLOYD, VA Cardinal Bankshares Corporation (OTC BB: CDBK) and the Bank of Floyd today announced that they have reached a settlement agreement with former Bank of Floyd executive Henry Logue. Terms of the agreement were not disclosed.
All claims and counterclaims related to a complaint filed by Cardinal Bankshares Corporation and its bank subsidiary against Logue on April 25 were dismissed. Logue was executive vice president of the parent company in 2010 and early 2011.
Both parties were able to resolve their differences amicably, said Bank of Floyd President and CEO Mike Larrowe. Were pleased with the outcome and wish Henry the best.
Floyd, Virginia based Cardinal Bankshares, the parent company for the Bank of Floyd, has $272 million in assets and operates seven branch offices in the Roanoke Region of Virginia.
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