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): November 15, 2013
FAIRMOUNT BANCORP, INC.
(Exact name of Registrant as Specified in Charter)
| Maryland | 000-53996 | 27-1783911 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
8216 Philadelphia Road, Baltimore, MD 21237
(Address of Principal Executive Offices)
(410) 866-4500
Registrant’s telephone number, including area code
(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 November 18, 2013, Fairmount Bancorp, Inc. (the “Company”), the holding company for Fairmount Bank (the “Bank”), announced that on November 15, 2013, the Bank completed its previously announced conversion from a federally chartered savings bank to a Maryland-chartered commercial bank. The Company’s press release announcing the charter conversion is attached to this Report as Exhibit 99.1 and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits |
| (d) | Exhibits. |
Exhibit 99.1 — Press release dated November 18, 2013.
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.
| FAIRMOUNT BANCORP, INC. | ||||||
| DATE: November 19, 2013 | By: | /s/ Joseph M. Solomon | ||||
| Joseph M. Solomon | ||||||
| President and Chief Executive Officer | ||||||
EXHIBIT INDEX
| Exhibit |
||
| 99.1 | Press release dated November 18, 2013. | |
Exhibit 99.1
| Contact: | Joseph M. Solomon | |
| President and Chief Executive Officer | ||
| (410) 866-4500 |
FAIRMOUNT BANK
CONVERTS TO A STATE-CHARTERED COMMERCIAL BANK
November 18, 2013
Fairmount Bancorp, Inc. (the “Company”) (OTCBB: FMTB), the holding company for Fairmount Bank (the “Bank”), announced today that the Bank has converted from a federally-chartered stock savings bank to a Maryland-chartered commercial bank effective November 15, 2013.
Joseph M. Solomon, President and Chief Executive Officer of the Company and the Bank, stated, “Our Board of Directors believes that the charter conversion is in the best interests of the Company, the Bank, our customers, depositors and the communities we serve. The conversion is consistent with and promotes our community banking focus. From our customers’ perspective, the charter conversion should be transparent. We will continue to operate under the “ Fairmount Bank” corporate title from our current office. The terms and conditions of our customers’ loans and deposit accounts will not be affected whatsoever. The deposit accounts of our customers will continue, without interruption, to be insured by the FDIC up to the applicable $250,000 legal limit.”
“We have had success as a federally chartered savings bank and greatly appreciate our relationships with our federal regulators, the Office of the Comptroller of the Currency, prior to that, and the Office of Thrift Supervision. We have determined, however, that converting to a Maryland-chartered commercial bank at this time best positions the Bank to compete in our market and to further execute our current strategies. Since our conversion to stock form, we have expanded our product offerings to include a broader range of commercial and retail products and services. We believe the Maryland commercial bank charter will be a better fit as we continue to transform our balance sheet and product mix to more effectively pursue our banking strategies.”
The Office of the Commissioner of Financial Regulation of the State of Maryland will act as the Bank’s primary regulator. The Board of Governors of the Federal Reserve System will continue to regulate the Company.
This press release contains statements that are forward-looking, as that term is defined by the Private Securities Litigation Reform Act of 1995 or the Securities and Exchange Commission in its rules, regulations and releases. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. All forward-looking statements are based on current expectations regarding important risk factors, including but not limited to real estate values, market conditions, the impact of interest rates on financing, local or national economic factors and legislative and regulatory changes that could adversely affect the business in which the Company and the Bank are engaged. Accordingly, actual results may differ from those expressed in the forward-looking statements, and the making of such statements should not be regarded as a representation by the Company or any other person that results expressed herein will be achieved.