-----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, Hiwv3m3Dc/oS8RcQjnQElFK1f0weV8EwBAbnko0zUHSWk4rWrjYu0K+cqVpmSIrY hZ206R6/+btrWRhAriedSA== 0001061655-98-000022.txt : 19980827 0001061655-98-000022.hdr.sgml : 19980827 ACCESSION NUMBER: 0001061655-98-000022 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980820 ITEM INFORMATION: FILED AS OF DATE: 19980826 SROS: NASD 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: 98698051 BUSINESS ADDRESS: STREET 1: 606 S MAIN ST CITY: PRINCETON STATE: IL ZIP: 61356 BUSINESS PHONE: 8158754444 8-K 1 UNITED STATES 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) August 26, 1998 (August 24, 1998) _____________________________________________________ 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 _________________________________________ Page 1 of 5 Exhibit Index is located on page 4. ITEM 5. OTHER EVENTS On August 24, 1998, the Registrant issued a press release relating to the favorable adjudication of the Company's lawsuit against its insurance carrier resulting from transactions occurring in 1995. For information regarding the lawsuit, reference is made to the press release dated August 24, 1998, 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 August 24, 1998 Press Release 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: Tony J. Sorcic _______________________________________ President and Chief Executive Officer Dated: August 24, 1998 EXHIBIT INDEX NUMBER DESCRIPTION 99 August 24, 1998 Press Release EX-99 2 _______________________________________________________________________________ [PRINCETON LOGO] NEWS RELEASE _______________________________________________________________________________ DATE: 8/24/98 The Board of Directors of Princeton National Bancorp, Inc. (PNBC), announced today that a ruling was received on its subsidiary bank's (Citizens First National Bank) lawsuit which was filed against Cincinnati Insurance Company, the carrier of the bank's Director's & Officers Liability insurance. The case was heard in the United States District Court for the Northern District of Illinois, Eastern Division, in Chicago, Illinois. The Judge ruled in favor of the bank on all issues and awarded $4,900,000 in damages. In addition, the Judge also awarded pre-judgment interest on the $4,900,000 from August 21, 1985 to August 14, 1998 and reasonable attorneys' fees and costs incurred by the bank in its litigation against Cincinnati Insurance Company. The bank filed a claim with Cincinnati Insurance Company in 1995 on losses that were incurred on inverse floater investments that were carried in certain Trust accounts. It is not known at this time whether the defendant will appeal. They have 30 days in which to do so. _____________________________________________________________________________ Inquiries should be directed to: Lou Ann Birkey A.V.P. & Corporate Secretary Princeton National Bancorp, Inc. 606 South Main Street Princeton, Illinois 61356 (815) 875-4444 -----END PRIVACY-ENHANCED MESSAGE-----