8-K 1 cb4953.txt FORM 8-K ================================================================================ 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): FEBRUARY 27, 2006 CAPITAL BANK CORPORATION (Exact name of registrant as specified in its charter) North Carolina 000-30062 56-2101930 (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification Number) 4901 Glenwood Ave. Raleigh, North Carolina 27612 (Address of principal executive offices) (919) 645-6400 (Registrant's telephone number, including area code) N/A (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 February 27, 2006, Capital Bank Corporation (the "Company"), the parent company of Capital Bank, announced that its Board of Directors had authorized a stock repurchase program to acquire up to 1,000,000 shares of the Company's common stock, which represents approximately 8.5% of the 11,734,786 current outstanding shares of common stock. The program, which is expected to be completed within 24 months, will be dependent on market conditions and other regulatory approvals, and there is no guarantee as to the exact number of shares to be repurchased by the Company. For more information, reference is made to the Company's press release dated February 27, 2006, a copy of which is attached to this report as Exhibit 99.1 and is incorporated herein by reference. ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS. (d) Exhibits 99.1 Press Release dated February 27, 2006. SIGNATURE 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. CAPITAL BANK CORPORATION By: /s/ B. Grant Yarber ----------------------- B. Grant Yarber Chief Executive Officer Date: February 27, 2006