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EX-99.1 - PRESS RELEASE - INTERVEST BANCSHARES CORPd570237dex991.htm

 

 

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): July 17, 2013

 

 

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

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:

 

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

 

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

 

¨ 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.

As previously reported, on June 24, 2013, Intervest Bancshares Corporation (the “Company”) repurchased 6,250 shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series A (the “Preferred Stock”) from the U.S. Treasury. The Preferred Stock was offered and sold by the Treasury through a private offering structured as a modified Dutch auction. The remaining 18,750 shares were sold by the Treasury to domestic qualified institutional buyers or domestic institutional accredited investors.

On July 17, 2013, the Company announced its intention to redeem all of the remaining issued and outstanding Preferred Stock. The effective date for the planned redemption is August 15, 2013, and the redemption price will be the stated liquidation value of $1,000 per share, together with an additional amount of $204.83 per share, reflecting accumulated and unpaid dividends through the planned redemption date. As of July 17, 2013, there were outstanding 18,750 shares of the Preferred Stock. No shares of Preferred Stock will remain outstanding after the planned redemption.

A copy of the Company’s press release, dated July 17, 2013, is attached as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 – Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit
No.

  

Description

99.1    Press Release dated July 17, 2013

Disclosure about forward-looking statements

This Form 8-K contains forward-looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, changes in interest rate environment, management’s business strategy, national, regional, and local market conditions and legislative and regulatory conditions.

Readers should not place undue reliance on forward-looking statements, which reflect management’s view only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. Readers should also carefully review the risk factors described in other documents the Company files from time to time with the Securities and Exchange Commission.


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: July 17, 2013   By:  

/s/ Lowell S. Dansker

  Lowell S. Dansker
  Chairman and Chief Executive Officer (Principal Executive Officer)
Date: July 17, 2013   By:  

/s/ John J. Arvonio

  John J. Arvonio
  Chief Financial and Accounting Officer (Principal Financial Officer)


EXHIBIT INDEX

 

Exhibit
No.

  

Description

99.1    Press Release dated July 17, 2013