-----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, GVce2BnecFvetkN3R77q0Pgw4bU35LwmiN03DS5lt/NWylBgk37SS/gRu/5bDS+k dr3WihDwCA1BHWfNBP8itQ== 0000867493-08-000022.txt : 20080731 0000867493-08-000022.hdr.sgml : 20080731 20080731142745 ACCESSION NUMBER: 0000867493-08-000022 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080729 ITEM INFORMATION: Other Events FILED AS OF DATE: 20080731 DATE AS OF CHANGE: 20080731 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INDIANA COMMUNITY BANCORP CENTRAL INDEX KEY: 0000867493 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 351807839 STATE OF INCORPORATION: IN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-18847 FILM NUMBER: 08981405 BUSINESS ADDRESS: STREET 1: 501 WASHINGTON STREET CITY: COLUMBUS STATE: IN ZIP: 47201 BUSINESS PHONE: 8125221592 MAIL ADDRESS: STREET 1: 501 WASHINGTON STREET CITY: COLUMBUS STATE: IN ZIP: 47201 FORMER COMPANY: FORMER CONFORMED NAME: HOME FEDERAL BANCORP DATE OF NAME CHANGE: 19940222 8-K 1 form8k.htm INDIANA COMMUNITY BANCORP 8K07292008 form8k.htm
UNITED STATES
 
SECURITIES AND EXCHANGE COMMISSION
 
WASHINGTON, DC 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): July 29, 2008
INDIANA COMMUNITY BANCORP
(Exact Name of Registrant as Specified in Its Charter)
     
Indiana
000-18847
35-1807839
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
   
501 Washington Street, Columbus, Indiana
47201
(Address of Principal Executive Offices)
(Zip Code)
 
(812) 522-1592
(Registrant’s Telephone Number, Including Area Code)
 
N/A
(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:

 
¨
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 8.01 Other Events.
 
On July 29, 2008, the Registrant began implementation of a cost reduction initiative which included the elimination of 26 full time positions or approximately 10% of the Company’s workforce.  The workforce reductions were comprised primarily of retail branch personnel and operations personnel across the Company’s southeast Indiana footprint.  The reduction in personnel can be attributed in part to enhanced automated banking capabilities offered by the Company.  Increased use of the Company’s automated banking system has reduced the number of traditional transactions handled by branch personnel.  Management anticipates that a one time charge of approximately $80,000 will be recognized in the third quarter for severance and termination benefits.  As a result of the workforce reduction, the Company would expect annual cost savings of approximately $750,000.
 
Forward-Looking Statement
This Form 8-K contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements include expressions such as “expects,” “intends,” “believes,” and “should,” which are necessarily statements of belief as to the expected outcomes of future events.  Actual results could materially differ from those presented.  The Registrant undertakes no obligation to release revisions to these forward-looking statements or reflect events or circumstances after the date of this release. The Registrant’s ability to predict future results involves a number of risks and uncertainties, some of which have been set forth in the Registrant’s most recent annual report on Form 10-K, which disclosures are incorporated by reference herein.
 


 
- 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 hereto duly authorized.
 

 
Date: July 30, 2008
INDIANA COMMUNITY BANCORP
     
 
By:
/s/ Mark T. Gorski
   
Mark T. Gorski, Executive Vice President and Chief Financial Officer



 
- 3 - -
 

-----END PRIVACY-ENHANCED MESSAGE-----