-----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, OaS4U4bTsOaCjPniZTlWvBaw2JO9DX6cvlpuC7n7cvTsXmoYW9+hQmyBykMZhCbE ILPxeTl/+EiFnsKBpWC2rA== 0000787849-06-000070.txt : 20060424 0000787849-06-000070.hdr.sgml : 20060424 20060424151016 ACCESSION NUMBER: 0000787849-06-000070 CONFORMED SUBMISSION TYPE: DEFA14A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20060424 DATE AS OF CHANGE: 20060424 EFFECTIVENESS DATE: 20060424 FILER: COMPANY DATA: COMPANY CONFORMED NAME: YARDVILLE NATIONAL BANCORP CENTRAL INDEX KEY: 0000787849 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 222670267 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 000-26086 FILM NUMBER: 06775000 BUSINESS ADDRESS: STREET 1: 2465 KUSER RD CITY: HAMILTON STATE: NJ ZIP: 08690 BUSINESS PHONE: 6096316218 MAIL ADDRESS: STREET 1: 2465 KUSER RD CITY: HAMILTON STATE: NJ ZIP: 08690 DEFA14A 1 issletter.htm DEFINITIVE ADDITIONAL MATERIALS

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934

Filed by the Registrant x

Filed by a Party other than the Registrant o

 

Check the appropriate box:

o Preliminary Proxy Statement

o Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

o Definitive Proxy Statement

x Definitive Additional Materials

o Soliciting Material Pursuant to §240.14a-12

 

YARDVILLE NATIONAL BANCORP

(Name of Registrant as Specified in its Charter)

 

NOT APPLICABLE

(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)

 

Payment of Filing Fee (Check the appropriate box):

 

x No fee required.

o Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

 

 

1)

Title of each class of securities to which transaction applies:                                                  

 

2)

Aggregate number of securities to which transaction applies:                                                

 

3)

Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):

 

4)

Proposed maximum aggregate value of transaction:                                                                

 

5)

Total fee paid:                                                                                                                           

 

o Fee paid previously with preliminary materials:

 

o

Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

 

 

1)

Amount Previously Paid:                                                                                                           

 

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4)

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2465 Kuser Road

Hamilton, New Jersey 08690

 

LEADING INDEPENDENT PROXY ADVISORY FIRM ISS

RECOMMENDS THAT YNB SHAREHOLDERS VOTE “FOR” YNB’S

DIRECTOR NOMINEES

 

ISS SAYS ELECTION OF DISSIDENT GROUP NOMINEES NOT WARRANTED

 

April 24, 2006

 

Dear Fellow YNB Shareholders:

 

We are pleased to announce that on April 21, 2006, Institutional Shareholder Services (ISS)

recommended that YNB shareholders vote FOR the Company’s director nominees—Samuel D.

Marrazzo, Louis R. Matlack, and George D. Muller. ISS is a leading independent U.S. proxy advisory

firm whose voting analyses and recommendations are relied upon by hundreds of major institutional

investment funds, mutual funds and fiduciaries throughout the country. We view the ISS decision as

very significant support for YNB.

 

To follow ISS’s recommendation, YNB shareholders should vote FOR the Company’s director

nominees on the Company’s enclosed “BLUE PROXY” card today.

 

In recommending that YNB shareholders vote FOR the three YNB directors over a slate presented by a dissident shareholder group, ISS wrote that:

 

“The company’s performance is strong and management’s plan appears to be working.

Management has taken the necessary steps to address the OCC concerns and periodically

evaluate strategic alternatives. In reviewing the dissident slate and its plan if elected,

there is no strong evidence to suggest that the election of the dissident nominees is

warranted at this time.”*

 

Commenting on the Company’s performance, ISS noted that:

 

“The company has experienced robust organic growth over the last ten years as evidenced

by strong compound annual growth of 22 percent in assets, 29 percent in commercial loans,

and 20 percent in deposits.”*

 

Regarding the Company’s corporate governance, ISS observed that:

 

“Overall, the company has a good governance profile underscored by a substantial majority

of independent directors, fully independent key board committees, and no poison pill.”*

 

Furthermore, ISS noted that:

 

“The current board already has the relevant experience to carry out management’s plan and

has shown that the plan is working.”*

                            

* Permission to use quotations from the ISS report was neither sought nor obtained.

 

 



 

 

We are very pleased that ISS recognizes YNB’s strong track record of growth and value creation and

has recommended that shareholders vote for YNB’s director nominees. Like ISS, we believe that there

is no benefit to stockholders in electing the dissident group’s nominees. We believe our Board and

management team are best-suited to continue executing our strategic plan and enhancing shareholder

value and we look forward to moving beyond this costly and counterproductive proxy contest and to

continuing the progress we have made to build a stronger future for YNB and all of our shareholders.

 

WITH YOUR SUPPORT, YNB’S BOARD AND MANAGEMENT CAN CONTINUE TO BUILD

VALUE FOR ALL SHAREHOLDERS

 

VOTE THE ENCLOSED “BLUE PROXY” TODAY

 

Your Board asks that you support your Board and management team by voting FOR YNB’s incumbent

directors, Samuel D. Marrazzo, Louis R. Matlack and George D. Muller, on the enclosed “BLUE

PROXY” CARD today. Your vote is extremely important, no matter how many or how few

shares that you own. If you have any questions or need any assistance in voting your shares, please do

not hesitate to contact our proxy solicitor, Georgeson Shareholder Services, at 1-800-509-1393.

 

Thank you very much for your continued support.

 

On behalf of the Board of Directors,

 


Jay G. Destribats

Chairman

 

 

 

 

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