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): January 23, 2013
MainSource Financial Group, Inc.
(Exact name of registrant as specified in its charter)
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Indiana (State or other jurisdiction of incorporation) |
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0-12422 (Commission File Number) |
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35-1562245 (IRS Employer Identification No.) |
2105 N. State Road 3 Bypass
Greensburg, Indiana 47240
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (812) 663-6734
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):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 240.425)
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 8.01 Other Events.
As part of its continuing review of operations and in order to reduce expenses and achieve greater operational efficiencies, on January 23, 2013, MainSource Financial Group, Inc. (the “Company”) informed employees of its plan to close 8 branch offices of MainSource Bank effective April 26, 2013. The branch offices to be closed are located in Redkey, Cambridge City, Fountain City, East Enterprise, Trafalgar, Covington and Fortville, Indiana, and the northside branch located in Troy, Ohio. Customer accounts in the affected branches will be serviced by the nearest MainSource Bank branch location. As of December 31, 2012, the 8 branches had approximately $88 million in total deposits. In connection with the branch closures the Company anticipates taking a pre-tax charge in the first quarter of 2013 of approximately $1.0 million. The Company anticipates annualized cost savings of approximately $1.3 million as a result of the closures.
Forward-Looking Statements
Except for historical information contained herein, the discussion in this Report may include certain forward looking statements based upon management expectations. Actual results and experience could differ materially from the anticipated results or other expectations expressed in the Company’s forward-looking statements. Factors which could cause future results to differ from these expectations include the following: general economic conditions; legislative and regulatory initiatives; monetary and fiscal policies of the federal government; deposit flows; the cost of funds; general market rates of interest; interest rates on competing investments; demand for loan products; demand for financial services; changes in accounting policies or guidelines; changes in the quality or composition of the Company’s loan and investment portfolios; the Company’s ability to integrate acquisitions; the impact of our continuing acquisition strategy; and other factors, including various “risk factors” as set forth in our most recent annual report on Form 10-K and in other reports we file from time to time with the Securities and Exchange Commission. These reports are available publicly on the SEC website, www.sec.gov, and on the Company’s website, www.mainsourcefinancial.com.
SIGNATURE
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.
Date: January 24, 2013
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MAINSOURCE FINANCIAL GROUP, INC. | |
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By: |
/s/ Archie M. Brown, Jr. |
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Archie M. Brown, Jr. |
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President and Chief Executive Officer |