-----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, JHWhYXDQom1Zd8q61QP54TpzABACnIhWP3YzeurvU3GRfMYF637bapziB+RMuHcY gLbQwr1yDcf/K6AnnBdHrA== 0001002105-07-000370.txt : 20071227 0001002105-07-000370.hdr.sgml : 20071227 20071227150327 ACCESSION NUMBER: 0001002105-07-000370 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20071219 ITEM INFORMATION: Material Impairments FILED AS OF DATE: 20071227 DATE AS OF CHANGE: 20071227 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MIDDLEBURG FINANCIAL CORP CENTRAL INDEX KEY: 0000914138 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 541696103 STATE OF INCORPORATION: VA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-24159 FILM NUMBER: 071328784 BUSINESS ADDRESS: STREET 1: 111 W WASHINGTON ST STREET 2: C/O MIDDLEBURG BANK CITY: MIDDLEBURG STATE: VA ZIP: 22117 BUSINESS PHONE: 5406876377 MAIL ADDRESS: STREET 1: 111 WEST WASHINGTON STREET STREET 2: C/O MIDDLEBURG BANK CITY: MIDDLEBURG STATE: VA ZIP: 22117 FORMER COMPANY: FORMER CONFORMED NAME: INDEPENDENT COMMUNITY BANKSHARES INC DATE OF NAME CHANGE: 19931027 8-K 1 f8kmbrg.htm Form 8-K

 

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): December 19, 2007

___________

 

MIDDLEBURG FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

        

Virginia

(State or other jurisdiction

of incorporation)

0-24159

(Commission File Number)

54-1696103

(I.R.S. Employer

Identification No.)

 

 

 

111 West Washington Street

Middleburg, Virginia

(Address of principal executive offices)

 

20117

(Zip Code)

 

Registrant’s telephone number, including area code: (703) 777-6327

 

Not Applicable

(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:

 

 

o

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

 

 

o  

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

 

 

o  

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

 

 

o  

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

 

 

Item 2.06

Material Impairments.

 

On December 19, 2007, the Registrant’s board of directors concluded that an impairment charge with respect to the carrying value of Middleburg Bank’s (a wholly-owned subsidiary of the Registrant) ownership interest in Southern Trust Mortgage, LLC (“Southern Trust Mortgage”) is required under generally accepted accounting principles. The impairment of value primarily results from earnings declines associated with the slowdown in loan production volume and the increases to loan loss reserves. As a result, for the quarter ending December 31, 2007, the Registrant expects to record a non-cash impairment charge of approximately $5.0 million for the impairment of the carrying value assigned to Southern Trust Mortgage.

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

MIDDLEBURG FINANCIAL CORPORATION

(Registrant)

 

 

Date: December 27, 2007

By: /s/ Joseph L. Boling  

Joseph L. Boling

Chairman and Chief Executive Officer

 

 

 

 

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