Current Report Filing (8-k)
January 26 2015 - 4:39PM
Edgar (US Regulatory)
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): January 26, 2015
TERRITORIAL BANCORP INC.
(Exact Name of Registrant as Specified in its Charter)
Maryland |
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1-34403 |
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26-4674701 |
(State or Other Jurisdiction Employer of Incorporation) |
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(Commission File No.) |
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(I.R.S. Identification No.) |
1132 Bishop Street, Suite 2200, Honolulu, Hawaii |
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96813 |
(Address of Principal Executive Offices) |
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(Zip Code) |
Registrants telephone number, including area code: (808) 946-1400
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 (see General Instruction A.2. below):
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 January 26, 2015, the Board of Directors of Territorial Bancorp Inc. announced a quarterly cash dividend on its common stock of $0.16 per share. The dividend is expected to be paid on February 23, 2015 to stockholders of record as of February 9, 2015. A copy of the press release announcing the declaration is attached as Exhibit 99 to this report.
The press release attached as an exhibit to this Current Report pursuant to this Item 2.02 is being furnished to, and not filed with, the Securities and Exchange Commission.
Item 9.01. Financial Statements and Exhibits
(a) Not Applicable.
(b) Not Applicable.
(c) Not Applicable.
(d) Exhibits.
Exhibit No. |
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Exhibit |
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99 |
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Press release dated January 26, 2015 |
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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.
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Territorial Bancorp Inc. |
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DATE: January 26, 2015 |
By: |
/s/ Vernon Hirata |
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Vernon Hirata |
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Vice Chairman, Co-Chief Operating Officer and Secretary |
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Exhibit 99
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact: Walter Ida
(808) 946-1400
Territorial Bancorp Inc.
Declares Dividend
Honolulu, Hawaii, January 26, 2015 - Territorial Bancorp Inc. (NASDAQ: TBNK) (the Company), headquartered in Honolulu, Hawaii, the holding company parent of Territorial Savings Bank, announces that its Board of Directors has approved a quarterly cash dividend on its common stock of $0.16 per share. The dividend is expected to be paid on February 23, 2015 to stockholders of record as of February 9, 2015.
Allan Kitagawa, Chairman and Chief Executive Officer, said We have been very successful in increasing our net interest income and the size of our loan portfolio in 2014. We are working to improve our shareholder returns by continuing our stock repurchase program and paying dividends. I am pleased to announce that in addition to the $0.10 per share special dividend paid in December 2014, we will be paying a quarterly dividend of $0.16 per share.
Forward-looking statements - this press release contains forward-looking statements, which can be identified by the use of words such as estimate, project, believe, intend, anticipate, plan, seek, expect, will, may and words of similar meaning. These forward-looking statements include, but are not limited to:
· statements of our goals, intentions and expectations;
· statements regarding our business plans, prospects, growth and operating strategies;
· statements regarding the asset quality of our loan and investment portfolios; and
· estimates of our risks and future costs and benefits.
These forward-looking statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. We are under no duty to and do not take any obligation to update any forward-looking statements after the date of this release.
The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements:
· general economic conditions, either nationally, internationally or in our market areas, that are worse than expected;
· competition among depository and other financial institutions;
· inflation and changes in the interest rate environment that reduce our margins or reduce the fair value of financial instruments;
· adverse changes in the securities markets;
· changes in laws or government regulations or policies affecting financial institutions, including changes in regulatory fees and capital requirements;
· our ability to enter new markets successfully and capitalize on growth opportunities;
· our ability to successfully integrate acquired entities, if any;
· changes in consumer spending, borrowing and savings habits;
· changes in accounting policies and practices, as may be adopted by the bank regulatory agencies, the Financial Accounting Standards Board, the Securities and Exchange Commission and the Public Company Accounting Oversight Board;
· changes in our organization, compensation and benefit plans;
· changes in our financial condition or results of operations that reduce capital available to pay dividends; and
· changes in the financial condition or future prospects of issuers of securities that we own.
Because of these and a wide variety of other uncertainties, our actual future results may be materially different from the results indicated by these forward-looking statements.
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