0001144204-12-063258.txt : 20121115 0001144204-12-063258.hdr.sgml : 20121115 20121115165233 ACCESSION NUMBER: 0001144204-12-063258 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20121114 ITEM INFORMATION: Termination of a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20121115 DATE AS OF CHANGE: 20121115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST FINANCIAL SERVICE CORP CENTRAL INDEX KEY: 0000854395 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 611168311 STATE OF INCORPORATION: KY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-18832 FILM NUMBER: 121209309 BUSINESS ADDRESS: STREET 1: 2323 RING ROAD CITY: ELIZABETHTOWN STATE: KY ZIP: 42701 BUSINESS PHONE: 2707652131 MAIL ADDRESS: STREET 1: 2323 RING ROAD CITY: ELIZABETHTOWN STATE: KY ZIP: 42701 FORMER COMPANY: FORMER CONFORMED NAME: FIRST FEDERAL FINANCIAL CORPORATION OF KENTUCKY DATE OF NAME CHANGE: 19920703 8-K 1 v328695_8k.htm CURRENT REPORT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

CURRENT REPORT

 

Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

November 14, 2012

(Date of earliest event reported)

 

 

First Financial Service Corporation

(Exact name of registrant as specified in its charter)

 

Securities and Exchange Commission File Number: 0-18832

 

 

      KENTUCKY      61-1168311
(State or other jurisdiction (I.R.S. Employer Identification No.)
  of incorporation or organization)  

 

 

2323 Ring Road, Elizabethtown, Kentucky, 42701

(Address of principal executive offices) (Zip Code)

 

 

Registrant’s telephone, including area code: (270) 765-2131

 

 

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:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 
 

Item 1.02 Termination of a Material Definitive Agreement

 

On November 14, 2012, First Financial Service Corporation was notified that First Security Bank of Owensboro, Inc. (“First Security”) had terminated the Branch Purchase Agreement (the “Agreement”) with the Company’s subsidiary, First Federal Savings Bank of Elizabethtown, effective immediately. The Agreement provided for the sale of First Federal’s four retail banking offices in Louisville, Kentucky to First Security.

 

First Security’s notice stated that First Security was exercising its right to terminate the Agreement because it had become reasonably apparent that the financing condition would not be satisfied by November 14, 2012. The financing condition provided that First Security’s parent bank holding company shall have raised and contributed to First Security the capital necessary to satisfy any capital injection requirement needed for governmental approval of the sale.

 

A copy of First Financial Service Corporation’s press release dated November 15, 2012 is attached as an exhibit to this report.

 

Item 9.01. Financial Statements and Exhibits.

 

(d)Exhibits

 

NumberDescription

 

99.1Press Release dated November 15, 2012.

 

 

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.

 

 

  FIRST FINANCIAL SERVICE CORPORATION
   
Date: November 15, 2012 By:  /s/  Gregory S. Schreacke                       
     Gregory S. Schreacke
     President

 

3

 EX-99.1 2 v328695_ex99-1.htm PRESS RELEASE

FOR IMMEDIATE RELEASE

November 15, 2012 For More Information Contact:
   
  Gregory S. Schreacke
  President
  First Financial Service Corporation
  (270) 765-2131

 

 

First Financial Service Corporation

Announces Termination of Agreement to Sell Louisville Branches

 

Elizabethtown, Kentucky, November 15, 2012 – First Financial Service Corporation (NASDAQ: FFKY), parent of First Federal Savings Bank of Elizabethtown (“First Federal”), announced today that First Security Bank of Owensboro, Inc. (“First Security”) has terminated the Branch Purchase Agreement (the “Agreement”) with First Federal. The Agreement provided for the sale of First Federal’s four retail banking offices in Louisville, Kentucky to First Security.

 

First Security exercised its right to terminate the Agreement because it became reasonably apparent that the Agreement’s financing condition would not be satisfied by November 14, 2012. The financing condition provided that First Security’s parent bank holding company had to raise and contribute to First Security the capital necessary to satisfy any capital injection requirement needed for governmental approval of the sale.

 

 “Our ongoing efforts to evaluate all available strategic options to meet required regulatory capital levels will continue despite the termination of the agreement to sell our Louisville branches,” stated Gregory S. Schreacke, President of First Financial Service Corporation. ” We will continue to provide full customer service to all of our Louisville customers.”

 

First Financial Service Corporation is the parent bank holding company of First Federal Savings Bank of Elizabethtown, which was chartered in 1923. The Bank serves the needs and caters to the economic strengths of the local communities in which it operates and strives to provide a high level of personal and professional customer service. The Bank offers a variety of financial services to its retail and commercial banking customers. These services include personal and corporate banking services, and personal investment financial counseling services. Currently, the Bank serves six contiguous counties in central Kentucky through its 17 full-service banking centers.

 

This press release contains forward-looking statements, including statements about beliefs and expectations based on the information available to, and assumptions and estimates made by, management as of the date made. These forward-looking statements cover, among other things, anticipated future revenue, expenses, capital ratios, and the future plans and prospects of First Federal Savings Bank. For a discussion of the risks and uncertainties that may cause actual results to differ from these expectations and our other forward-looking statements, refer to First Financial Service Corporation’s 2011 Annual Report on Form 10-K, including the “Risk Factors” section, and other periodic reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and First Financial Service Corporation undertakes no obligation to update them in light of new information or future events.

 

First Financial Service Corporation’s stock is traded on the Nasdaq Global Market under the symbol “FFKY.” Market makers for the stock are:

 

Keefe, Bruyette & Woods, Inc. FTN Midwest Securities
   
J.J.B. Hilliard, W.L. Lyons Company, Inc. Howe Barnes Investments, Inc.
   
Stifel Nicolaus & Company Knight Securities, LP