-----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, PG55sg6orM3mM3BqSbDL0fXQ7ywBI2HGGKIt2Y72//VTVA5f/+A7gG8YMJX1ozgS eYV7e9c+WzWHkRE5TeaVbg== 0000943374-08-002019.txt : 20081219 0000943374-08-002019.hdr.sgml : 20081219 20081218181402 ACCESSION NUMBER: 0000943374-08-002019 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20081216 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20081219 DATE AS OF CHANGE: 20081218 FILER: COMPANY DATA: COMPANY CONFORMED NAME: First Federal of Northern Michigan Bancorp, Inc. CENTRAL INDEX KEY: 0001128227 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 383567362 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-31957 FILM NUMBER: 081258415 BUSINESS ADDRESS: STREET 1: 100 SOUTH SECOND AVENUE CITY: ALPNEA STATE: MI ZIP: 49707 BUSINESS PHONE: (989) 356-9041 MAIL ADDRESS: STREET 1: 100 SOUTH SECOND AVENUE CITY: ALPENA STATE: MI ZIP: 49707 FORMER COMPANY: FORMER CONFORMED NAME: ALPENA BANCSHARES INC DATE OF NAME CHANGE: 20001114 8-K 1 form8k_121908.txt 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 16, 2008 ----------------- FIRST FEDERAL OF NORTHERN MICHIGAN BANCORP, INC. ------------------------------------------------ (Exact name of Registrant as specified in its charter) Maryland 0-31957 38-0135202 - --------- ------- ---------- (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification No.) 100 S. Second Ave., Alpena, Michigan 49707 ------------------------------------------ (Address of principal executive offices) (989) 356-9041 Registrant's telephone number, including area code 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. First Federal of Northern Michigan Bancorp, Inc. (the "Company") (NASDAQ: FFNM) announced the suspension of its quarterly dividend. A press release setting forth details of the dividend suspension is attached as Exhibit 99. Item 9.01. Financial Statements and Exhibits. (a) Financial Statements of Businesses Acquired: None (b) Pro Forma Financial Information: None (c) Shell company transactions: None (d) Exhibits: Exhibit 99 Press Release, dated December 16, 2008 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. FIRST FEDERAL OF NORTHERN MICHIGAN BANCORP, INC. Date: December 19, 2008 By: /s/ Amy E. Essex ----------------- ------------------------------- Amy E. Essex Chief Financial Officer Duly Authorized Representative) EX-99 2 exhibit99_121908.txt PRESS RELEASE First Federal of Northern Michigan Bancorp, Inc. 100 S. Second Ave. Alpena, MI 49707 (989) 356-9041 December 16, 2008 FOR IMMEDIATE RELEASE - --------------------- Contact: Michael W. Mahler, President & Chief Executive Officer First Federal of Northern Michigan Bancorp, Inc. Tel (989) 356-9041 FIRST FEDERAL OF NORTHERN MICHIGAN BANCORP, INC. ANNOUNCES SUSPENSION OF QUARTERLY DIVIDEND ALPENA, Michigan - December 16, 2008 - First Federal of Northern Michigan Bancorp, Inc. (the "Company") (NASDAQ: FFNM) announced that the Board of Directors voted to suspend the payment of quarterly cash dividends on the Company's common stock, effective immediately, due to the impact of continued weak economic conditions and the uncertainty regarding the timing of a recovery. Michael W. Mahler, President and CEO, stated "While the suspension of the dividend was a difficult decision, our Board of Directors believes that it is in the Company's best interests to preserve capital given recent negative trends in our operating performance and asset quality, as well as recent deterioration in economic conditions and financial markets." The Company intends to reassess the dividend on a quarterly basis, but does not anticipate reinstatement until operating results and asset quality improve and/or economic conditions and financial markets stabilize. This decision is expected to preserve approximately $600,000 in capital on an annualized basis. The Company is the unitary savings and loan holding company of First Federal of Northern Michigan, a federal savings bank headquartered in Alpena, Michigan. * * * -----END PRIVACY-ENHANCED MESSAGE-----