-----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, FvwAKrjvFs8kJQNEs7lWdNIdODEqfebeORzuJxVC3+LwoXaAnSx/3NVmlwMM8mHk dNdgUFrGgTnXUYpgZBUPpA== 0000943374-08-000945.txt : 20080623 0000943374-08-000945.hdr.sgml : 20080623 20080623142146 ACCESSION NUMBER: 0000943374-08-000945 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20071231 FILED AS OF DATE: 20080623 DATE AS OF CHANGE: 20080623 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FSB Community Bankshares Inc CENTRAL INDEX KEY: 0001389797 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 743164710 STATE OF INCORPORATION: X1 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-52751 FILM NUMBER: 08911872 BUSINESS ADDRESS: STREET 1: 45 SOUTH MAIN STREET CITY: FAIRPORT STATE: NY ZIP: 14450 BUSINESS PHONE: (585) 223-9080 MAIL ADDRESS: STREET 1: 45 SOUTH MAIN STREET CITY: FAIRPORT STATE: NY ZIP: 14450 11-K 1 form11k_61908.txt FORM 11-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 11-K ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [x] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED, EFFECTIVE OCTOBER 7, 1996]. For the fiscal year ended December 31, 2007 --------------------------------------------------- OR [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]. For the transition period from _______________ to ______________________ Commission File Number 001-52751 A. Full title of the plan and the address of the plan, if different from that of the issuer named below: Fairport Savings Bank 401(k) Savings Plan B: Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: FSB Community Bankshares, Inc. 45 South Main Street Fairport, New York 14450 SUMMARY ANNUAL REPORT This is a summary of the annual report for FAIRPORT SAVINGS BANK 401(K) SAVINGS PLAN EIN 16 0427685 for January 1, 2007 through December 31, 2007. The annual report has been filed with the Employee Benefits Security Administration, as required under the Employee Retirement Income Security Act of 1974 (ERISA). BASIC FINACIAL STATEMENT Benefits under the plan are provided by a combination of funding arrangements. Plan expenses were $855,397. These expenses included $0 in administrative expenses and $838,081 in benefits paid to participants and beneficiaries and $17,316 in other expenses. A total of 39 persons were participants in or beneficiaries of the plan at the end of the plan year, although not all of these persons had yet earned the right to receive benefits. The value of plan assets, after subtracting liabilities of the plan, was $2,319,433 as of December 31, 2007, compared to $2,828,598 as of January 1, 2007. During the plan year, the plan experienced a decrease in its net assets of ($509,165). This decrease includes unrealized appreciation or depreciation in the value of plan assets; that is, the difference between the value of plan's assets at the end of the year and the value of the assets at the beginning of the year or cost of assets acquired during the year. The plan had total income of $346,232, including employer contributions of $172,515, employee contributions of $91,166, gains of $0, from the sale of assets, and earnings from investments of $82,551. YOUR RIGHTS TO ADDITIONAL INFORMATION You have the right to receive a copy of the full annual report, or any part thereof, on request. The items listed below are included in that report: - Financial information - Insurance information including sales commissions paid by insurance carriers - Information regarding any common or collective trusts, pooled separate accounts; master trusts or 103-12 investment entities in which the plan participates To obtain a copy of the full annual report, or any part thereof, write or call FAIRPORT SAVINGS BANK 45 SOUTH MAIN STREET FAIRPORT, NY 14450-2133 (585) 377-8970. The charge to cover copying costs will be $1.00 for the full annual report, or $.10 per page for any part thereof. You also have the right to receive from the plan administrator, on request and at no charge, a statement of the assets and liabilities of the plan and accompanying notes, or a statement of income and expenses of the plan and accompanying notes, or both. If you request a copy of the full annual report from the plan administrator, these two statements and accompanying notes will be included as part of that report. The charge to cover copying costs given above does not include a charge for the copying of these portions of the report because these portions are furnished without charge. You also have the legally protected right to examine the annual report at the main office of the plan 45 SOUTH MAIN STREET FAIRPORT, NY 14450-2133 and at the U.S. Department of Labor in Washington, D.C., or to obtain a copy from the U.S. Department of Labor upon payment of copying costs. Requests to the Department should be addressed to: Public Disclosure Room, Room N1513, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20210. This plan is not required to attach an accountant's report because it satisfies all of the conditions to qualify for a waiver of the audit requirement. SIGNATURES The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. FAIRPORT SAVINGS BANK 401(k) SAVINGS PLAN Date May 16, 2008 By: /s/ Kevin D. Maroney Name: Kevin D. Maroney Title: Executive Vice President and Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----