-----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, P8gKHBrMw5K3prEDZ0NZm3LDhpsIdTB0Y6ZT26uuoRmn3TgKS4cpQrO9uYR/5s+8 gKHlsn1fHENMKVntrox2NQ== 0000943374-09-000401.txt : 20090227 0000943374-09-000401.hdr.sgml : 20090227 20090227165306 ACCESSION NUMBER: 0000943374-09-000401 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090227 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20090227 DATE AS OF CHANGE: 20090227 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: 09643853 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_022709.txt FORM 8-K FILED 02-27-2009 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, 2009 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. ------------- On February 27, 2009, First Federal of Northern Michigan Bancorp, Inc. announced the sale of the health, life, property and casualty insurance operations of InsuranCenter of Alpena, the Company's insurance affiliate. Details of the transaction are reported in the press release, filed as an Exhibit to this Form 8-K. Item 9.01 Financial Statements and Exhibits --------------------------------- (a) Financial Statements of businesses acquired. Not Applicable. (b) Pro forma financial information. Not Applicable. (c) Shell Company Transactions. Not Applicable (d) Exhibit 99.1: Press Release dated February 27, 2009 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: February 27, 2009 By: /s/ Amy E. Essex ------------------------------ Amy E. Essex Chief Financial Officer (Duly Authorized Representative) EX-99.1 2 form8kexh_022709.txt PRESS RELEASE FOR FORM 8-K Contact: Michael W. Mahler President and Chief Executive Officer First Federal of Northern Michigan Bancorp, Inc. (989) 356-9041 FIRST FEDERAL OF NORTHERN MICHIGAN BANCORP, INC. ANNOUNCES SALE OF INSURANCE AGENCY ASSETS Alpena, Michigan - (February 27, 2009); First Federal of Northern Michigan Bancorp, Inc. (Nasdaq: FFNM) (the "Company") announced today the sale of the health, life, property and casualty insurance operations of InsuranCenter of Alpena, the Company's insurance affiliate ("ICA"). As a result of the transaction, the Company will reduce its full-time employees by 14 positions, or 13% of the Company's workforce. The Company also expects the sale will reduce its non-interest expense by approximately $1.2 million in fiscal year 2009. Michael W. Mahler, President and Chief Executive Officer of the Company stated, "The sale of these operations reflects our determination to increase operating efficiencies and shareholder value, while focusing our attention on our core mission - providing outstanding community banking services to our customers." The Company expects to record a nominal gain upon the closing of the sale. ICA retains the residual income stream associated with the April 2008 sale of its wholesale Blue Cross/Blue Shield override business to the Grotenhuis Group. -----END PRIVACY-ENHANCED MESSAGE-----