Form 8-K - Current Report for Potomac Bancshares, Inc.

8-K 1 d8k.htm FORM 8-K - CURRENT REPORT FOR POTOMAC BANCSHARES, INC. Form 8-K - Current Report for Potomac Bancshares, Inc.

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) August 8, 2003

Potomac Bancshares, Inc.

(Exact Name of Registrant as Specified in Charter)

West Virginia

0-24958

55-0732247

(State or Other Jurisdiction

of Incorporation

(Commission

File Number)

(IRS Employer
Identification No.

)

111 E. Washington St., PO Box 906, Charles Town WV		25414-0906
( Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code		304-725-8431

N/A

(Former Name or Former Address, if Changed Since Last Report)

Item 5. Other Events.

For Immediate Release

Potomac Bancshares, Inc. President and CEO Robert F. Baronner announced that the company’s Board of Directors approved $.1350 per share (thirteen and one half cent) cash dividend for the third quarter of 2003. The dividend represents a 1.9% increase over the dividend paid in the second quarter of 2003. This cash dividend is payable to all shareholders of record as of August 15, 2003 with the actual payment of the dividend to occur on September 1, 2003. It should be noted that Potomac Bancshares began paying quarterly rather than semi-annual dividends at the beginning of 2003.

Baronner also announced that Potomac Bancshares had recently repurchased 78,999 shares of its common stock at a price of $18.50 per share. This purchase represented 4.43% of the company’s outstanding common stock.

Potomac Bancshares, Inc. is a public company trading under the ticker symbol PTBS. Potomac Bancshares is the one bank holding company for Bank of Charles Town (BCT) located in Charles Town, West Virginia.

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

(a) Financial Statements – None

(b) Pro Forma Financial Information – None

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.

	Potomac Bancshares, Inc.

Date August 8, 2003		/S/ ROBERT F. BARONNER, JR.

		Robert F. Baronner, Jr., President and CEO