-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PAP8v08Eu0XTCwQ9Gc/Xf0jFLgjTFfDCnmtnfj6iMx2dov3tbEawGSFiJOsR90m+ SUvAx3PFu/vWYMFCWWfPjA== 0000914317-01-000055.txt : 20010129 0000914317-01-000055.hdr.sgml : 20010129 ACCESSION NUMBER: 0000914317-01-000055 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010119 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010126 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SUSSEX BANCORP CENTRAL INDEX KEY: 0001028954 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 223475473 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-12569 FILM NUMBER: 1516039 BUSINESS ADDRESS: STREET 1: 399 RTE 23 CITY: FRANKLIN STATE: NJ ZIP: 07416 BUSINESS PHONE: 9738272914 MAIL ADDRESS: STREET 1: 399 RTE 23 CITY: FRANKLIN STATE: NJ ZIP: 07416 8-K 1 0001.txt 8-K FOR SUSSEX BANCORP ------------------------------------------------------------------------------ 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) January 19, 2001 SUSSEX BANCORP -------------- (Exact name of registrant as specified in its charter) New Jersey 0-29030 22-3475473 ---------- ------- ---------- (State or other (Commission (IRS Employer jurisdiction of incorporation) File Number) Identification No.) 399 Route 23 Franklin, New Jersey 07416 -------------------- ----- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (973) 827-2914 -------------- - ------------------------------------------------------------------------------ Item 5. Other events. ------------ The Registrant issued a press release on January 19, 2001 announcing results for the year ended December 31, 2000. Item 7. Exhibits. -------- The following exhibit is filed with this Current Report on Form 8-K. Exhibit No. Description ----------- ----------- 99 Press release announcing results for the year ended December 31, 2000. Page 2 of 5 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, Sussex Bancorp, has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. SUSSEX BANCORP ------------------ (Registrant) Dated: January 25, 2001 By: /s/ Candace A. Leatham ----------------------------- CANDACE A. LEATHAM Chief Financial Officer Page 3 of 5 EXHIBIT INDEX ------------- CURRENT REPORT ON FORM 8-K -------------------------- Exhibit No. Description Page No. - ----------- ----------- -------- 99 Press release announcing results 5 for the year ended December 31, 2000. Page 4 of 5 EX-99 2 0002.txt PRESS RELEASE EXHIBIT 99 - ---------- Press Release - ------------- SUSSEX BANCORP ANNOUNCES HIGHER EARNINGS Franklin, NJ, January 19, 2001-Sussex Bancorp (AMEX "SBB") announced net income of $767,000 for the year ended December 31, 2000. The Company's total interest income increased to $10,389,000 for the year ended December 31, 2000 due to an increase in the total loan portfolio, as the Company's portfolio of loans, net increased to $100.2 million at December 31, 2000 from $84 million at December 31, 1999. Basic earnings per share for each of the years ended December 31, 2000 and 1999 was $.51. Diluted earnings per share was $.51 in 2000 and $.50 in 1999. Weighted average number of basic shares outstanding was 1,494,671 for 2000 and 1,493,237 for 1999. Weighted average number of diluted shares was 1,506,088 for 2000 and 1,509,762 for 1999. The loan loss provision for the year ended December 31, 2000 increased to $229,000 from $177,000 for the same period last year. The Company's interest expense increased to $4,837,000 for the year ended December 31, 2000 from $4,322,000 for the same period last year. This increase reflects increases in the Company's total deposits to $140.9 million at December 31, 2000 from $138.5 million at December 31, 1999 and borrowed money to $10 million at December 31, 2000 from $2 million at December 31, 1999. At December 31, 2000 the Company had total assets of $161.6 million, compared to total assets of $150.1 million at December 31, 1999. The Company's total stockholders' equity at December 31, 2000 was $10,110,000. The Company maintained regulatory capital ratios of 9.67% for Tier 1 capital to risk weighted assets, and 6.21% for its leverage ratio. However, on January 17th, the Company's previously announced sale of 9.9% of its outstanding stock to Lakeland Bancorp, Inc was completed. The Company received proceeds of approximately $1,144,087. net of expenses. If this additional capital had been available at December 31, 2000, the Company's Tier 1 capital ratio would have been 10.75% and its leverage ratio would have been 6.90%. Sussex Bancorp is the holding company of the Sussex County State Bank, which operates through its main office in Franklin, New Jersey and branch offices in Andover, Augusta, Newton, Montague, Sparta, Vernon and Wantage, New Jersey. Page 5 of 5 -----END PRIVACY-ENHANCED MESSAGE-----