-----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, VWFpSlqQlgr16mfbmZur6bWpwht9fbLBg++1BzBf/63NLlCq7/gikKRBgTpZh6hp lp/C5J/JV3KldpkEksst2g== 0000912057-02-025681.txt : 20020628 0000912057-02-025681.hdr.sgml : 20020628 20020628091151 ACCESSION NUMBER: 0000912057-02-025681 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020628 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020628 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INDEPENDENT BANK CORP CENTRAL INDEX KEY: 0000776901 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 042870273 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09047 FILM NUMBER: 02690076 BUSINESS ADDRESS: STREET 1: 288 UNION STREET CITY: ROCKLAND STATE: MS ZIP: 02370 BUSINESS PHONE: 7818786100 MAIL ADDRESS: STREET 1: 288 UNION STREET CITY: ROCKLAND STATE: MS ZIP: 02370 8-K 1 a2083410z8-k.txt 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 and Exchange Act of 1934 DATE OF REPORT: JUNE 28, 2002 (Date of Earliest Event Reported) INDEPENDENT BANK CORP. (Exact Name of Registrant as Specified in its Charter) MASSACHUSETTS (State or Other Jurisdiction of Incorporation) 1-9047 04-2870273 (Commission File Number) (I.R.S. Employer Identification No.) 288 UNION ST., ROCKLAND, MA 02370 (Address of Principal Executive Offices) (Zip Code) NOT APPLICABLE (Former Address of Principal Executive Offices) (Zip Code) (781) 878-6100 (Registrant's Telephone Number, Including Area Code) ITEM 5. OTHER EVENTS. Attached as an exhibit hereto, is a copy of a press release issued yesterday by Independent Bank Corp. which is incorporated herein by reference. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits: Press Release dated June 27, 2002 SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned and hereunto duly authorized. INDEPENDENT BANK CORP. DATE: JUNE 28, 2002 BY: /S/ EDWARD H. SEKSAY ----------------------------------- EDWARD H. SEKSAY, GENERAL COUNSEL EX-99 3 a2083410zex-99.txt EXHIBIT 99 INDEPENDENT BANK CORP. Parent of Rockland Trust Company SHAREHOLDER RELATIONS NEWS RELEASE - ------------------------------------------------------------------------------- 288 Union Street, Rockland, MA 02370 Contact: Douglas H. Philipsen Chairman of the Board, President and Chief Executive Officer (781) 982-6613 Denis K. Sheahan Chief Financial Officer and Treasurer (781) 982-6341 FOR IMMEDIATE RELEASE INDEPENDENT BANK CORP. ANNOUNCES WORLDCOM BOND IMPAIRMENT CHARGE Rockland, Massachusetts (June 27, 2002) Independent Bank Corp. (NASDAQ: INDB), parent of Rockland Trust Company, announced today that it was taking an impairment charge which will decrease the Company's net income for the current quarter. On May 2, 2001, over one year ago, the Company acquired corporate bonds issued by Worldcom, Inc. with a face value of $5 million for $5.1 million (the "Worldcom Bonds") for the Company's investment portfolio. The Worldcom Bonds have a 7.875 % coupon and a May 15, 2003 maturity date. As the current size of the Company's investment portfolio is over $700 million, the Worldcom Bonds comprise less than one percent of the Company's current investments. The Company now anticipates that the Worldcom Bonds will be deemed "other than temporarily impaired" under the provisions of Statement of Financial Accounting Standards No. 115. As a consequence, the Company will record a one-time impairment charge in the current quarter. Based upon the current market price for the Worldcom Bonds the impairment charge would be approximately $4.4 million pretax, which would result in an after-tax earnings per share impact of approximately 17 cents per share. Although the impairment charge will decrease net income for the current quarter, the Company does not expect the impairment charge to have a significant impact on either the Company's operating earnings or the Company's overall financial condition. Independent Bank Corp.'s sole bank subsidiary, Rockland Trust Company, currently has $2.2 billion in assets, 52 retail branches, eight commercial lending centers and three Investment Management Offices located in Plymouth, Barnstable, Norfolk and Bristol counties of southeastern Massachusetts. For more information, visit www.rocklandtrust.com. ### -----END PRIVACY-ENHANCED MESSAGE-----