-----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, WGXh36zDJ06lyogayEwU+Xu8igrCfe9KFZkWQM/D6PaNccJspmLB69xIBbCO+aPH CfSjr8S5tmStbH7sTIv73A== 0000950124-01-000965.txt : 20010224 0000950124-01-000965.hdr.sgml : 20010224 ACCESSION NUMBER: 0000950124-01-000965 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010212 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010221 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOUTHERN MICHIGAN BANCORP INC CENTRAL INDEX KEY: 0000703699 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 382407501 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 002-78178 FILM NUMBER: 1550871 BUSINESS ADDRESS: STREET 1: 51 W PEARL ST CITY: COLDWATER STATE: MI ZIP: 49036 BUSINESS PHONE: 5172795500 8-K 1 k60311e8-k.txt FORM 8-K 1 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): February 12, 2001 SOUTHERN MICHIGAN BANCORP, INC. (Exact name of registrant as specified in its charter) Michigan 2-78178 38-2407501 (State or other jurisdiction (Commission File No.) (IRS Employer of incorporation) Identification No.) 51 West Pearl Street, Coldwater, Michigan 49036 (Address of principal executive offices ) (Zip Code) Registrant's telephone number, including area code: (517) 279-5500 (Former name or former address, if changed since last report) 2 ITEM 5. OTHER EVENTS. On February 12, 2001, Southern Michigan Bancorp, Inc. announced implementation of a stock repurchase plan. The February 12, 2001 Press Release is attached hereto as an Exhibit. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (c) Exhibits. Exhibit Reference Number Exhibit Description ------------------------ ------------------- 99.1 Press Release dated February 12, 2001.* - ------------------- * Filed herewith 3 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. SOUTHERN MICHIGAN BANCORP, INC. Date: February 21, 2001 By: /s/ James T. Grohalski -------------------------------------- Name: James T. Grohalski Its: President, Chief Executive Officer and Secretary 4 Exhibit Index ------------- Exhibit No. Description - ----------- ----------- 99.1 Press Release dated February 12, 2001. EX-99.1 2 k60311ex99-1.txt PRESS RELEASE DATED 2/12/01 1 EXHIBIT 99.1 PRESS RELEASE The board of directors of Southern Michigan Bancorp, Inc. (OTC Bulletin Board: SOMC - news) announced that the company will implement a stock repurchase plan beginning in May 2001. The board has authorized repurchase of five percent (5) of the company's outstanding shares from time to time in the open market or through privately negotiated transactions. Repurchased common shares will be added to the corporation's authorized but unissued shares and will be used to meet the corporation's current and near-term stock requirements for its benefit plans. As of December 31, 2000, Southern Michigan Bancorp, Inc. had 1,931,984 shares of common stock outstanding. "Our strong capital position combined with the attractiveness of Southern Michigan Bancorp, Inc. stock at its current trading levels make this an opportune time to implement our stock repurchase program," said James T. Grohalski, President and CEO of Southern Michigan Bancorp, Inc. "In addition, the development of stock incentive-based compensation plans will expand ownership of the company among a broader cross-section of employees and will help to focus strategic efforts that will improve financial performance and shareholder value," Grohalski added. Southern Michigan Bancorp, with more than $300 million in total assets at December 31, 2000, is headquartered in Coldwater, Michigan and has banking offices in Branch, Calhoun and Hillsdale Counties. 2/12/01 -----END PRIVACY-ENHANCED MESSAGE-----