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) – May 5, 2015
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Farmers Capital Bank Corporation | |
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(Exact name of registrant as specified in its charter) |
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Kentucky |
0-14412 |
61-1017851 |
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(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
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P.O. Box 309 Frankfort, KY |
40602 |
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(Address of principal executive offices) |
(Zip Code) |
Registrant’s telephone number, including area code: (502) 227-1668
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Not Applicable |
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(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):
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☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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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 May 5, 2015, Farmers Capital Bank Corporation issued a press release announcing it will repurchase the remaining portion of its outstanding preferred stock. A copy of this press release is attached hereto as Exhibit 99.1.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(D) Exhibits
Exhibit 99.1 – Press Release dated May 5, 2015.
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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Farmers Capital Bank Corporation | ||
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May 5, 2015 |
/s/ Mark A. Hampton | |
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Date |
Mark A. Hampton | |
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Executive Vice President, Secretary, and Chief Financial Officer |
Exhibit 99.1
Press Release Dated May 5, 2015
NEWS RELEASE
May 5, 2015
Farmers Capital Bank Corporation to Repurchase Final Portion of its Outstanding Preferred Stock
Frankfort, Kentucky – Farmers Capital Bank Corporation (NASDAQ: FFKT) (the “Company”) announced on May 5, 2015 that the Federal Reserve Bank of St. Louis approved its request to repurchase the final 10,000 shares of its remaining outstanding Series A preferred stock. The Company will redeem, on a pro-rata basis, the preferred shares at the stated liquidation value of $1,000 per share, plus any accrued dividends. The timing of the repurchase has yet to be determined, but is expected to be completed during the second quarter of 2015. The total redemption amount will be $10.0 million, plus accrued dividends at 9.0% per share.
The Company originally issued 30,000 shares of its Series A preferred stock in 2009. The current action will be the third and final partial redemption of the original shares issued. No additional debt or equity was issued in connection with the previous redemptions. Likewise, none will be issued in connection with the current redemption.
“We are pleased to be able to redeem the final portion of our outstanding preferred stock,” said Lloyd C. Hillard, Jr., President and Chief Executive Officer of the Company. “Repurchasing the preferred shares is a significant milestone for the Company and represents full repayment of the shares originally issued through the U.S. Treasury’s Capital Purchase Program.”
Farmers Capital Bank Corporation is a bank holding company headquartered in Frankfort, Kentucky. The Company operates 36 banking locations in 23 communities throughout Central and Northern Kentucky, a data processing company, and an insurance company. Its stock is publicly traded on the NASDAQ Stock Market LLC exchange in the Global Select Market tier under the symbol: FFKT.