Attached files
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| EX-99.1 - INTEGRA BANK CORP | v194606_ex99-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
Pursuant
to Section 13 OR 15(d) of The Securities Exchange Act of 1934
| Date of Report (Date of earliest event reported) August 12, 2010 | |||
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INTEGRA BANK
CORPORATION
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(Exact name of registrant as
specified in its charter)
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Indiana
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0-13585
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35-1632155
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(State or other
jurisdiction
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(Commission
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(IRS
Employer
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of
incorporation)
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File
Number)
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Identification
No.)
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21 S.E. Third
Street
P.O. Box 868
Evansville,
Indiana 47705-0868
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(Address of principal executive
offices) (Zip
Code)
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| Registrant’s telephone number, including area code (812) 464-9677 | |||
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Not
Applicable
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(Former name or former address, if
changed since last
report.)
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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:
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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ITEM
8.01
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Other
Events.
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On August 16, 2010, Integra Bank
National Association (the "Bank"), the banking subsidiary of Integra Bank
Corporation (the "Company"), received a Capital Directive issued August 12, 2010
by the Office of the Comptroller of the Currency ("OCC"), pursuant to its
statutory authority. The OCC will publish a copy of the Capital
Directive on its website which is located at www.occ.treas.gov.
Under the terms of the Capital
Directive, the Bank is required, within 90 days, to achieve and maintain the
following minimum regulatory capital ratios: (1) Total risk-based capital at
least equal to eleven and one-half percent (11.5%) of risk-weighted assets and
(2) Tier 1 capital as least equal to eight percent (8%) of adjusted total
assets.
The Board of Directors of the Bank is
also required to submit to the Director of Special Supervision of the OCC (the
"Director") within 30 days an acceptable Capital Plan covering at least a
three-year period and describe the means and time schedule by which the Bank
will achieve the required minimum capital ratios. The Capital
Directive specifies that the Bank may only pay a dividend to the Company when
(1) the Bank is in compliance with the Capital Directive and will remain in
compliance immediately following payment of the dividend; (2) the Bank is in
compliance with applicable laws and regulations and (3) the Director has
determined in writing that the Director has no supervisory objection to
payment.
A copy of
the Capital Directive is attached hereto as Exhibit 99.1 and incorporated herein
by reference. The description of the Capital Directive set forth
above is not complete, and is qualified by reference to the full text of the
document. The Capital Directive has been promulgated in furtherance of the
regulatory authority of the OCC and is not intended to modify the previous
disclosures of the Company regarding the condition of the Bank or the Company or
the adequacy of effectiveness of its internal control over financial reporting
or disclosure controls and procedures.
The
Company intends to submit the required plan and to take other actions necessary
to comply with the Capital Directive on a timely basis as circumstances
permit.
The Bank will continue to conduct its
banking business with customers in a normal fashion. Banking products
and services and hours of business will remain the same, and the Bank's deposits
will remain insured by the FDIC to the maximum limits allowed by
law.
Forward Looking Statements.
This report contains forward looking statements within the meaning of the
Securities Exchange Act of 1934, as amended, including statements of goals,
intentions and expectations as to future trends, plans, events or results of
operations. These statements are based on current and anticipated
economic conditions, the Company's financial condition, the quality of its loan
and investment portfolios, competitive factors, actions by regulatory
authorities and other matters which are subject to considerable uncertainty and
cannot be predicted with any certainty. Readers are cautioned not to
place undue reliance on any such forward looking statements.
ITEM
9.01 Financial
Statements and Exhibits
Exhibit
No. Description of
Exhibit
Exhibit
99.1 Capital
Directive dated August 12, 2010
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.
Dated: August
18, 2010
INTEGRA
BANK CORPORATION
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By:
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/s/ Michael B.
Carroll
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Michael
B. Carroll
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Executive
Vice President and
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Chief
Financial Officer
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INDEX TO
EXHIBITS
Exhibit
No. Description of
Exhibit
Exhibit
99.1 Capital
Directive dated August 12, 2010