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): April 24, 2014
INTERVEST BANCSHARES CORPORATION
(Exact Name of Registrant as Specified in Charter)
| Delaware | 000-23377 | 13-3699013 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification Number) |
| 1 Rockefeller Plaza, Suite 400 New York, New York | 10020-2002 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s Telephone Number Including Area Code: (212) 218-2800
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 (see General Instruction A.2. below):
| ¨ | 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 April 24, 2014, Intervest Bancshares Corporation issued a press release announcing that its Board of Directors had approved payment of a cash dividend of $0.05 per share on the Company’s outstanding common stock. The dividend is payable May 26, 2014 to shareholders of record on the close of business May 15, 2014. A copy of the press release is attached as Exhibit 99.1.
| Item 9.01 | Financial Statements and Exhibits |
| (d) | Exhibits |
Exhibit 99.1 Press Release dated April 24, 2014.
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 thereunto duly authorized.
| INTERVEST BANCSHARES CORPORATION | ||||||||
| Date: | April 24, 2014 | By: | /s/ Lowell S. Dansker | |||||
| Lowell S. Dansker | ||||||||
| Chairman and Chief Executive Officer | ||||||||
| (Principal Executive Officer) | ||||||||
| Date: | April 24, 2014 | By: | /s/ John J. Arvonio | |||||
| Chief Financial and Accounting Officer | ||||||||
| (Principal Financial Officer) | ||||||||
Exhibit 99.1
NEWS FOR RELEASE UPON RECEIPT
(April 24, 2014)
Intervest Bancshares Corporation Declares Cash Dividend of $.05 Per Common Share
NEW YORK, N.Y., - Intervest Bancshares Corporation (the “Company”) (NASDAQ-GS: IBCA), the holding company for Intervest National Bank (the “Bank”), announced today that its Board of Directors approved the initiation of a regular quarterly cash dividend to shareholders. The initial quarterly dividend of $0.05 per common share will be payable on May 26, 2014 to shareholders of record on the close of business May 15, 2014.
“We are pleased that the progress we have made in implementing our strategic plan allows us to resume payment of a dividend to our shareholders,” said Lowell S. Dansker, Chairman and Chief Executive Officer of the Company and Intervest National Bank.
About Intervest Bancshares Corporation
Intervest Bancshares Corporation (IBC) is a bank holding company. Its operating subsidiary is Intervest National Bank (INB), a nationally chartered commercial bank that has its headquarters and full-service banking office at One Rockefeller Plaza in New York City, and a total of six full-service banking offices in Clearwater and Gulfport, Florida. IBC’s Common Stock is listed on the NASDAQ Global Select Market: Trading Symbol IBCA. This release may contain forward-looking information. Words such as “may,” “will,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project,” “assume,” “indicate,” “continue,” “target,” “goal,” and similar words or expressions of the future are intended to identify forward-looking statements. Except for historical information, the matters discussed herein are subject to certain risks and uncertainties that may adversely affect our business, financial condition and results of operations. The following factors, among others, could cause actual results to differ materially from those set forth in forward looking statements: changes in economic conditions and real estate values both nationally and in our market areas; changes in our borrowing facilities, volume of loan originations and deposit flows; changes in the levels of our non-interest income and provisions for loan and real estate losses; changes in the composition and credit quality of our loan portfolio; legislative or regulatory changes, including increased expenses arising therefrom; changes in interest rates which may reduce our net interest margin and net interest income; increases in competition; technological changes which we may not be able to implement; changes in accounting or regulatory principles, policies or guidelines; changes in tax laws and our ability to utilize our deferred tax asset, including NOL and AMT carryforwards; and our ability to attract and retain key members of management. Reference is made to IBC’s filings with the SEC for further discussion of risks and uncertainties regarding our business. We assume no obligation to update any forward-looking statements.
| CONTACT: | LOWELL DANSKER, CHAIRMAN | |
| Intervest Bancshares Corporation | ||
| One Rockefeller Plaza (Suite 400) | ||
| New York, New York 10020-2002 | ||
| Phone: 212-218-2800 Fax: 212-218-2808 |