0001284506-12-000021.txt : 20120531 0001284506-12-000021.hdr.sgml : 20120531 20120531153406 ACCESSION NUMBER: 0001284506-12-000021 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120531 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120531 DATE AS OF CHANGE: 20120531 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INTERMOUNTAIN COMMUNITY BANCORP CENTRAL INDEX KEY: 0001284506 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 820499463 STATE OF INCORPORATION: ID FISCAL YEAR END: 0512 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-50667 FILM NUMBER: 12880466 BUSINESS ADDRESS: STREET 1: PO BOX 967 CITY: SANDPOINT STATE: ID ZIP: 83864 BUSINESS PHONE: 206-263-0505 MAIL ADDRESS: STREET 1: PO BOX 967 CITY: SANDPOINT STATE: ID ZIP: 83864 8-K 1 a3imcb8-kcoverpageprcomple.htm 3IMCB8-KCOverPagePRCompletionofRightsOffering


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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):
May 31, 2012

INTERMOUNTAIN COMMUNITY BANCORP
(Exact name of registrant as specified in its charter)


Idaho
(State or other jurisdiction of incorporation)


 
000-50667
 
82-0499463
 
 
(Commission File Number)
 
IRS Employer Identification No.
 
414 Church Street
Sandpoint, Idaho 83864
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (208) 263-0505

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2 below):


[ ] 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 of (17 CFR 240.14d-2(b))


[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act of (17 CFR 240.13e-4(c))




Item 8.01.    Other Events.

On May 31, 2012, Intermountain Community Bancorp, Sandpoint, Idaho (“Intermountain”) issued a press release announcing the completion of its $8.7 million rights offering, which expired on May 21, 2012. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein in its entirety by reference.


Item 9.01.      Exhibits.
 
(d)     Exhibits. The following exhibits are being filed herewith:

Exhibit No.                      Description                                                      

99.1
Press Release dated May 31, 2012
 



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.

Dated: May 31, 2012


INTERMOUNTAIN COMMUNITY BANCORP



By:     /s/ Curt Hecker                
Curt Hecker
President and Chief Executive Officer









EXHIBIT INDEX


Exhibit No.                      Description                                                      

 
 
99.1
Press Release dated May 31, 2012
 























 EX-99.1 2 pressreleaserightsoffering.htm PRESS RELEASE RIGHTS OFFERING PressReleaseRightsOfferingExhibit991to8-KFINAL

Intermountain Community Bancorp of Sandpoint, ID,
Announces Successful Completion of Rights Offering

SANDPOINT, ID (BUSINESS WIRE) – May 31, 2012 – Intermountain Community Bancorp (OTCBB: IMCB.OB) (the “Company”), the bank holding company of Panhandle State Bank (the “Bank”) today announced the successful completion of an $8.7 million Common Stock rights offering, including the purchase of unsubscribed shares by our new investors, which expired on May 21, 2012.

Combined with the Company’s recent successful private placement of Common Stock in January 2012, $56 million of new capital has been infused into the Company through the sale of 56,000,000 shares of Common Stock at $1.00 per share. “We are so pleased at the support of our new investors and our legacy shareholders. Our goal now is to put this capital to work for the benefit of the communities we serve and our loyal shareholders,” said Curt Hecker, Chief Executive Officer. “We appreciate the continued trust and support for our Board, management and employee team.”

The Company expects to use the net proceeds to reinvest in its communities and for other general corporate purposes.

About Intermountain Community Bancorp
Intermountain is headquartered in Sandpoint, Idaho, and operates as four separate divisions with nineteen banking locations in three states. Its banking subsidiary, Panhandle State Bank, offers financial services through northern Idaho offices in Sandpoint, Ponderay, Bonners Ferry, Priest River, Coeur d’Alene, Post Falls, Rathdrum and Kellogg. Intermountain Community Bank, a division of Panhandle State Bank, operates branches in southwest Idaho in Weiser, Payette, Nampa, Caldwell and Fruitland, as well as in Ontario, Oregon. Intermountain Community Bank Washington, a division of Panhandle State Bank, operates branches in downtown Spokane and Spokane Valley, Washington. Magic Valley Bank, a division of Panhandle State Bank, operates branches in Twin Falls and Gooding, Idaho.

Additional Information
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may include but are not limited to statements about the Company’s plans, objectives, expectations and intentions and other statements contained in this report that are not historical facts. These forward-looking statements are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company’s control. Actual results may differ materially from the results discussed in these forward-looking statements because of numerous possible risks and uncertainties. These include but are not limited to any resulting inability to complete the issuance and sale of the securities in the manner intended pursuant to the rights offering or the subsequent private placement to the Backstop Investors, and the other risks described in the “Risk Factors,” “Business,” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections, as applicable, of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2012. Readers are cautioned that forward-looking statements in this release speak only as of the date of this release. The Company does not undertake any obligation to update any forward-looking statement, whether as a result


of new information, future events or otherwise.
CONTACT:
         Curt Hecker, CEO
         Intermountain Community Bancorp
         (208) 263-0505
         curt.hecker@panhandlebank.com
         
         Doug Wright, Executive Vice President & CFO
         Intermountain Community Bancorp
         (509) 363-2635
         doug.wright@intermountainbank.com