-----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, BROCtyrnDLS2gFNjBey7XK0C/vdfgfu3Ly2X/aXBPtCQLVs3gLN71b5Io5GlLq5F 7nAxqApmsMhOgfbOQahMrg== 0001021408-01-000002.txt : 20010122 0001021408-01-000002.hdr.sgml : 20010122 ACCESSION NUMBER: 0001021408-01-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20001229 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010102 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRINCETON NATIONAL BANCORP INC CENTRAL INDEX KEY: 0000707855 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 363210283 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-20050 FILM NUMBER: 1500232 BUSINESS ADDRESS: STREET 1: 606 S MAIN ST CITY: PRINCETON STATE: IL ZIP: 61356 BUSINESS PHONE: 8158754444 8-K 1 0001.txt FORM 8-K 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) January 2, 2001 (December 29, 2000) ----------------------------- Princeton National Bancorp, Inc. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware - -------------------------------------------------------------------------------- (State or other jurisdiction of incorporation) 0-20050 36-3210283 - ----------------------------------- --------------------------------------- (Commission File Number) (IRS Employer Identification No.) 606 South Main Street Princeton, Illinois 61356 - -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code (815) 875-4444 --------------------------- Exhibit Index is located on page 4. Item 5. Other Events On December 29, 2000, the Registrant issued a press release relating to the implementation of a stock repurchase program whereby the Registrant will repurchase up to 6 percent of its outstanding shares of common stock in the open market or in private transactions over the next twelve months. For information regarding the stock repurchase program, reference is made to the press release dated December 29, 2000, which is attached hereto as Exhibit 99 and incorporated herein by reference. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits (c) Exhibits: Exhibit 99 December 29, 2000 Press Release 2 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. PRINCETON NATIONAL BANCORP, INC. (Registrant) By: /s/ Tony J. Sorcic ----------------------------------- Tony J. Sorcic, President and Chief Executive Officer Dated: December 29, 2000 3 EXHIBIT INDEX Number Description - ------ ----------- 99 December 29, 2000 Press Release 4 EX-99 2 0002.txt DECEMBER 29, 2000 PRESS RELEASE EXHIBIT 99 [PRINCETON NATIONAL BANCORP, INC. LOGO] Princeton National Bancorp, Inc. -------------------------------- Announces Stock Repurchase Program PRINCETON, Illinois -- December 29, 2000 -- Princeton National Bancorp, Inc. (NASDAQ: PNBC) today announced it is implementing a stock repurchase program whereby the Company will repurchase up to 6% of its outstanding shares of common stock in the open market or in private transactions over the next twelve months. Purchases will be dependent upon market conditions and the availability of shares. The Company currently has 3,487,233 outstanding shares of common stock. In the past three years, the Company has completed four repurchase programs. A total of 652,608 shares have been repurchased in these programs. Tony J. Sorcic, President & Chief Executive Officer of the Company, stated "the repurchase program represents a prudent use of capital; the program facilitates capital management and benefits the shareholder through increased liquidity in their stock. The remaining shareholders will also benefit by owning a larger percentage of the outstanding shares and, assuming earnings are equal, the earnings per share will increase. This effective use of capital concurrently benefits both the shareholders and the Company, particularly at current market valuations". Princeton National Bancorp Inc.'s subsidiary, Citizens First National Bank, has community banking offices in Princeton, Peru, Genoa, Oglesby, Spring Valley, Sandwich, Henry, Minooka, DePue, Hampshire, and Huntley. This press release may contain certain forward-looking statements, including certain plans, expectations, goals, and projections, which are subject to numerous assumptions, risks, and uncertainties. These forward-looking statements are identified by the use of words such as "believes", "anticipates", "estimates", "expects", "projects" or similar words. Actual results could differ materially from those contained or implied by such statements for a variety of factors including: changes in economic conditions; movements in interest rates; competitive pressures on product pricing and services; success and timing of business strategies; the nature, extent, and timing of governmental actions and reforms; and extended disruption of vital infrastructure. - -------------------------------------------------------------------------------- Inquiries should be directed to: Lou Ann Birkey, A.V.P. & Corporate Secretary, Princeton National Bancorp, Inc. (815)875-4444, E-Mail address: pnbc@citizens1st.com -----END PRIVACY-ENHANCED MESSAGE-----