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): July 22, 2015
FIRST FEDERAL OF NORTHERN MICHIGAN BANCORP, INC.
(Exact name of Registrant as specified in its charter)
Maryland (State or Other Jurisdiction of Incorporation) |
0-31957 (Commission File Number) |
38-0135202 (I.R.S. Employer 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 July 22, 2015, First Federal of Northern Michigan Bancorp, Inc. (Nasdaq: FFNM) (the “Company”) announced that its Board of Directors has approved the payment of a quarterly cash dividend of $0.03 per share for the quarter ended June 30, 2015. The dividend will be payable to stockholders of record as of July 31, 2015 and will be paid on or about August 28, 2015. The Company has 3,727,014 shares of common stock outstanding. A copy of the press release announcing the dividend dated July 22, 2015 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: Press release dated July 22, 2015.
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: July 22, 2015 | By: | /s/ Eileen M. Budnick |
| Eileen M. Budnick VP-Director of Financial Reporting & Accounting (Duly Authorized Representative) | ||
First Federal of Northern Michigan Bancorp, Inc. 8-K
Exhibit 99.1
| Press Release | |
| FOR IMMEDIATE RELEASE |
Contact: Michael W. Mahler
Telephone: (989) 354-7319
First Federal of Northern Michigan Bancorp, Inc. Announces Quarterly Cash Dividend
ALPENA, Mich., July 22, 2015 /PRNewswire/ -- First Federal of Northern Michigan Bancorp, Inc. (NASDAQ Capital: FFNM) today announced that its Board of Directors declared a quarterly cash dividend of $0.03 per common share. The dividend will be paid on or about August 28, 2015, to stockholders of record as of the close of business on July 31, 2015.
"We are pleased to announce that the Board of Directors took action today to increase the cash dividend to our shareholders," said Michael W. Mahler, Chief Executive Officer of the Company. "This is the eighth consecutive quarter for a dividend declaration and we believe that the increase of the dividend reflects our progress toward our sustained commitment to enhancing value for our shareholders."
About First Federal of Northern Michigan Bancorp, Inc.
First Federal of Northern Michigan Bancorp, Inc. is the holding company for First Federal of Northern Michigan (the "Bank"). The Bank is a full-service, community-oriented savings bank that provides financial services to individuals, families and businesses from eight full-service facilities located in Alpena, Cheboygan, Emmet, Iosco, Otsego, Montmorency and Oscoda Counties, Michigan. To learn more about the Bank, visit www.first-federal.com or call (800) 498-0013.
Forward-looking statements
This news release may contain certain forward-looking statements, such as statements of the Company's or the Bank's plans, objectives, expectations, estimates and intentions. Forward-looking statements may be identified by the use of words such as "expects," "subject," "believe," "will," "intends," "will be" or "would." These statements are subject to change based on various important factors (some of which are beyond the Company's or the Bank's control) and actual results may differ materially. Accordingly, readers should not place undue reliance on any forward-looking statements (which reflect management's analysis of factors only as of the date of which they are given). These factors include general economic conditions, trends in interest rates, the ability of our borrowers to repay their loans, the ability of the Company or the Bank to effectively manage its growth, and results of regulatory examinations, among other factors. The foregoing list of important factors is not exclusive. Readers should carefully review the risk factors described in other documents the Company files from time to time with the Securities and Exchange Commission, including Current Reports on Form 8-K.