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 earliest event reported: June
27, 2017
COMMERCE UNION BANCSHARES, INC.
(Exact Name of Registrant as
Specified in its Charter)
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Tennessee |
001-37391 |
37-1641316 |
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(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
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1736 Carothers Parkway, Suite 100 Brentwood, Tennessee |
37027 |
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(Address of Principal Executive Offices) |
(Zip Code) |
| (615) 221-2020 |
| (Registrant’s telephone number, including area code) |
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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 (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 (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))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
⊠ Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ⃞
Item 8.01 Other Events
On June 27, 2017, the Board of Directors of Commerce Union Bancshares,
Inc. declared a $0.12 per share cash dividend. The dividend is payable
on July 21, 2017, to shareholders of record as of the close of business
on June 30, 2017. A copy of the press release is attached as Exhibit
99.1 to this report.
Item 9.01 Financial Statements
and Exhibits
(d) Exhibits
99.1 Press Release issued by Commerce Union Bancshares, Inc., dated June 29, 2017.
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.
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COMMERCE UNION BANCSHARES, INC. |
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Date: June 29, 2017 |
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/s/ William R. DeBerry |
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| William R. DeBerry | ||
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Chief Executive Officer |
Exhibit 99.1
Commerce Union Bancshares, Inc. Declares $0.12 Cash Dividend For First Two Quarters of 2017
Dividend Increased 9.1% Per Share Over Previous Annual Dividend of $0.22 Per Share
Announces Change to Quarterly Dividend Payment Going Forward
BRENTWOOD, Tenn.--(BUSINESS WIRE)--June 29, 2017--Commerce Union Bancshares, Inc. (Nasdaq: CUBN), parent company of Reliant Bank, announced today that its Board of Directors approved a 9.1% increase in the cash dividend to $0.06 per share to be paid on a quarterly basis. The initial dividend payment of $0.12 per share represents the dividend for the first two quarters of 2017. Commerce Union previously paid an annual cash dividend of $0.22 per share. The $0.12 per share dividend is payable on July 21, 2017, to shareholders of record as of the close of business on June 30, 2017.
“We are pleased to announce our Board’s approval of a 9.1% increase in our cash dividend and the change to a quarterly dividend payment going forward,” stated William R. DeBerry, Chairman and Chief Executive Officer. “As previously announced, I will retire as Chairman and CEO of Commerce Union Bancshares as of June 30, and I am pleased to mark my retirement with an increase in our cash dividend. It highlights our record results since Commerce Union Bank and Reliant Bank merged, and our Board’s ongoing commitment to building long-term shareholder value through our cash dividend program.”
DeVan D. Ard, Jr., will succeed Mr. DeBerry as Chairman and CEO of Commerce Union Bancshares. Mr. DeBerry said, “this organization has a tremendous pool of talent propelling it forward. We have a very bright future and expect continued success under the capable leadership of DeVan Ard.”
Mr. DeBerry will continue as a Board member of Commerce Union Bancshares following his retirement as Chairman and CEO.
About Commerce Union Bancshares, Inc. and Reliant Bank
Commerce Union Bancshares, Inc. (NASDAQ: CUBN) is a Brentwood, Tennessee-based bank holding company which operates banking centers in Davidson, Robertson, Rutherford, Sumner and Williamson Counties in Middle Tennessee and Hamilton County in East Tennessee through its wholly-owned subsidiary Reliant Bank. Reliant is a fast-growing community bank headquartered in Brentwood, Tennessee. A full-service commercial bank, Reliant offers a variety of deposit, lending and mortgage products and services to business and consumer customers. For additional information, locations and hours of operation, please visit our website found at www.reliantbank.com.
Forward-Looking Statements
Statements in this press release relating to Commerce Union Bancshares Inc.’s plans, objectives, expectations or future performance are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “may,” “should,” “anticipate,” “estimate,” “expect,” “intend,” “objective,” “possible,” “seek,” “plan,” “strive” or similar words, or negatives of these words, identify forward-looking statements. These forward-looking statements are based on management’s current expectations. The Company’s actual results in future periods may differ materially from those indicated by forward-looking statements due to various risks and uncertainties. These and other risks and uncertainties are described in greater detail under “Risk Factors” in the Company’s 10-K and subsequent periodic reports filed with the Securities and Exchange Commission. The forward-looking statements in this press release are made as of the date of the release and the Company does not assume any responsibility to update these statements.
CONTACT:
Commerce Union Bancshares, Inc.
DeVan Ard, 615-221-2005
President,
Commerce Union Bancshares, Inc.
President and Chief Executive
Officer, Reliant Bank
or
Ron DeBerry, 615-433-7200
Chairman and
Chief Executive Officer, Commerce Union Bancshares, Inc.