-----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, IPSOehsuD/GYXGuba/8C5fSskVazU0TKpuDEaysCCewgDlIydD6fHyRTCFouDuUT PB8k/7GLku+na7DB4eaJ+Q== 0000914317-02-000145.txt : 20020415 0000914317-02-000145.hdr.sgml : 20020415 ACCESSION NUMBER: 0000914317-02-000145 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010719 ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020301 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: 1934 Act SEC FILE NUMBER: 001-12569 FILM NUMBER: 02563738 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 form8k-43552_22702.txt ------------------------------------------------------------------------------ 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) February 25, 2002 SUSSEX BANCORP -------------- (Exact name of registrant as specified in its charter) New Jersey 0-29030 22-3475473 ---------- ------- ---------- (State or other jurisdiction (Commission (IRS Employer 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 February 25, 2002 announcing results for the year ended December 31, 2001. 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, 2001. PAGE 2 OF 2 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: February 27, 2002 By: /s/ Candace A. Leatham ---------------------- CANDACE A. LEATHAM Chief Financial Officer PAGE 3 OF 3 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, 2001. PAGE 4 OF 4 EX-99 3 exhibit-99.txt EXHIBIT 99 Press Release Sussex Bancorp 399 Route 23 Franklin, NJ 07416 Contact: Candace Leatham Senior Vice President/ Treasurer (973) 827-2914 FOR IMMEDIATE RELEASE SUSSEX BANCORP ANNOUNCES HIGHER EARNINGS; ASSETS EXCEED $200 MILLION Franklin, NJ, February 25, 2002-Sussex Bancorp (AMEX "SBB") announced net income of $795,000 for the year ended December 31, 2001, compare to net income of $767,000 for the prior year. Basic and diluted earnings per share for the year ended December 31, 2001 were $.48 and $.51 for the year ended December 31, 2000. Weighted average number of basic shares outstanding was 1,643,258 for 2001 and 1,494,671 for 2000. Weighted average number of diluted shares was 1,662,488 for 2001 and 1,506,088 for 2000. The Company's total interest income increased to $11,589,000 for the year ended December 31, 2001 from $10,389,000 for the same period last year, reflecting a higher volume of earning assets. For the year ended December 31, 2001, the Company's non-interest income increased by $789,000 or 94.0%, to $1.6 million from $839,000. The increase in non-interest income reflects the contribution of Tri-State Insurance Agency, Inc., which the Company acquired on October 1, 2001. Tri-State produced $407,000 in commission revenue in the fourth quarter of 2001. The loan loss provision for the year ended December 31, 2001 increased to $252,000 from $229,000 for the same period last year. The Company's interest expense increased to $5,688,000 for the year ended December 31, 2001 from $4,837,000 for the same period last year. This increase reflects increases in the Company's total deposits to $178.6 million at December 31, 2001 from $140.9 million at December 31, 2000. In addition, the Company's total non-interest expense increased by $1.0 million, reflecting an additional $327,000 in non-interest expense from the operation of Tri-State and other increases associated with the Company's continued growth. At December 31, 2001 the Company had total assets of $203.3 million, compared to total assets of $161.6 million at December 31, 2000. The Company's total stockholders' equity at December 31, 2001 was $12,237,000. The Company maintained regulatory capital ratios of 8.45 % for Tier 1 capital to risk weighted assets, and 4.87% for its leverage ratio. Sussex Bancorp also announced that its Board of Directors declared a cash dividend of $.06 per share, payable on March 28, 2002 to shareholders of record as of March 8, 2002. Sussex Bancorp is the holding company of the Sussex 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. The Bank owns Tri-State Insurance Agency, Inc., a full service insurance agency located in Augusta, New Jersey. PAGE 5 OF 5 -----END PRIVACY-ENHANCED MESSAGE-----