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):  September 16, 2014
___________

HIGHLANDS BANKSHARES, INC.
(Exact name of registrant as specified in its charter)

Virginia
(State or other jurisdiction
of incorporation)
0-27622
(Commission File Number)
54-1796693
(IRS Employer
Identification No.)
     
340 West Main Street
Abingdon, Virginia
(Address of principal executive offices)
 
24210-1128
(Zip Code)

Registrant’s telephone number, including area code:  (276) 628-9181

 
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:

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

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.
 
 
On September 16, 2014, Highlands Bankshares, Inc. (the “Company”) announced the completion of its previously-announced rights offering.  Under the terms of the rights offering, the Company distributed, at no charge to holders of its common stock as of April 15, 2014, rights to purchase shares of the Company’s common stock at a subscription price of $3.50 per full share.  The rights offering expired on September 3, 2014.  As a result of the rights offering, the Company generated approximately $460 thousand of net proceeds through the issuance of 159,093 new shares of the Company’s common stock.





 
 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

   
HIGHLANDS BANKSHARES, INC.
 
   
(Registrant)
 
Date:  September 16,  2014
By:
/s/ Robert M. Little
 
   
Robert M. Little, Jr.
 
   
Chief Financial Officer