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)
March
13, 2012
FLATBUSH FEDERAL BANCORP,
INC.
(Exact name of registrant
as specified in its charter)
Federal
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000-50377
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11-3700733
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(State or other jurisdiction
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(Commission File Number)
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(IRS Employer ID No.)
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of incorporation)
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2146 Nostrand Avenue, Brooklyn, New York
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11210
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone
number, including area code
(718) 859-6800
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 (see General Instruction A.2. below):
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
x
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 1.01
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Entry Into A Material Definitive Agreement
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On March 13, 2012, Flatbush
Federal Bancorp, Inc. (“Flatbush Bancorp”) entered into an Agreement and Plan of Merger (the “Merger Agreement”)
by and between (i) Northfield Bank (“Northfield Bank”), Northfield Bancorp, Inc. (“Northfield Bancorp”),
and Northfield Bancorp, MHC (“Northfield MHC”), and (ii) Flatbush Federal Savings and Loan Association (“Flatbush
Federal Savings”), Flatbush Bancorp and Flatbush Federal Bancorp, MHC (“Flatbush MHC”). The Merger
Agreement provides, among other things, that as a result of the merger of Flatbush Bancorp into Northfield Bancorp (the “Mid-Tier
Merger”), each outstanding share of Flatbush Bancorp’s common stock will be converted into the right to receive 0.4748
shares of Northfield Bancorp common stock.
The merger transactions below
(which are collectively referred to as the “Mergers”) will be effected as follows:
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Flatbush MHC will merge with and into Northfield MHC, with Northfield MHC as the surviving entity. The separate corporate existence of Flatbush MHC will cease.
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Immediately following the MHC Merger, Flatbush Bancorp will merge with and into Northfield Bancorp, with Northfield Bancorp as the surviving entity. The separate corporate existence of Flatbush Bancorp will cease.
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Flatbush Federal Savings will merge with and into Northfield Bank, with Northfield Bank as the surviving entity (the “Bank Merger”). The separate corporate existence of Flatbush Federal Savings will cease. This Bank Merger will follow the MHC Merger and the Mid-Tier Merger.
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The Merger Agreement contains
a number of customary representations and warranties by the parties regarding certain aspects of their respective businesses, financial
condition, structure and other facts pertinent to the Mergers that are customary for a transaction of this kind. They include,
among other things: the organization, existence, and corporate power and authority and capitalization of each of the parties; the
absence of conflicts with and violations of law and various documents, contracts and agreements; the absence of any development
materially adverse to the companies; the absence of adverse material litigation; accuracy of reports and financial statements filed
with the Securities and Exchange Commission (the “SEC”); the accuracy and completeness of the statements of fact made
in the Merger Agreement; with respect to the Flatbush parties, the existence, performance and legal effect of certain contracts,
the filing of tax returns, payment of taxes and other tax matters and certain labor and employee benefit matters and compliance
with applicable environmental laws.
The obligations of the parties
to complete the Mergers is subject to various customary conditions, including, among others: the Merger Agreement and
applicable transactions must have been approved by the required vote of the shareholders of Flatbush Bancorp and members of Flatbush
MHC, as may be necessary under applicable regulatory guidance; the absence of any law or order prohibiting the closing of the Mergers;
receipt of required regulatory approvals; no proceedings shall have been initiated or threatened by the SEC challenging the proxy
statement- prospectus and; the parties must have received an opinion of counsel, dated as of the closing date, indicating that
the Mergers will qualify as tax-free reorganizations within the meaning of the Internal Revenue Code of 1986, as amended.
Each of the directors of Flatbush
Bancorp and Flatbush MHC, has agreed to vote his or her shares of Flatbush Bancorp common stock in favor of the Merger Agreement
and the transactions contemplated thereby. In addition, Flatbush MHC has also agreed to vote the shares of Flatbush
Bancorp common stock it owns in favor of the Merger Agreement and the transactions contemplated thereby, including the Mid-Tier
Merger.
If the Mergers are terminated
under specified situations in the Merger Agreement (because Flatbush Bancorp accepts a proposal to acquire Flatbush Bancorp superior
to the one contained in the Merger Agreement, enters into an agreement related to such a proposal and terminates the Merger Agreement,
or fails to make, withdraws, modifies or qualifies its recommendation regarding the Merger Agreement), Flatbush Bancorp may be
required to pay a termination fee to Northfield Bancorp of approximately $700,000.
The foregoing description of
the Merger Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Merger
Agreement, which is attached hereto as Exhibit 2.1 and is incorporated herein by reference. The Merger Agreement has
been included to provide security holders with information regarding its terms. It is not intended to provide factual information
about parties thereto, or any of their respective subsidiaries or affiliates. The representations, warranties, and covenants
contained in the Merger Agreement were made only for purposes of that agreement and as of specific dates, are solely for the benefit
of the parties to the Merger Agreement, may be subject to limitations agreed upon by the parties, including being qualified by
confidential disclosures made for the purposes of allocating contractual risk between the parties to the Merger Agreement instead
of establishing these matters as facts, and may be subject to standards of materiality applicable to the parties that differ from
those applicable to investors. In addition, such representations and warranties were made only as of the date of the Merger
Agreement or such other date as is specified in the Merger Agreement. Investors should not rely on the representations, warranties,
or covenants or any description thereof as characterizations of the actual state of facts or condition of the parties or any of
their respective subsidiaries or affiliates. Moreover, information concerning the subject matter of the representations,
warranties, and covenants may change after the date of the Merger Agreement, which subsequent information may or may not be fully
reflected in public disclosures by Flatbush Bancorp.
Item 7.01
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Regulation FD Disclosure
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On March 13, 2012, Flatbush
Bancorp issued a press release announcing that it had entered into the Merger Agreement. A copy of the press release
is filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01
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Financial Statements and Exhibits
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The following exhibits are being
furnished with this Report:
Ex. 2.1
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Agreement and Plan of Merger by and among (i) Northfield Savings Bank, Northfield Bancorp, Inc. and Northfield Bancorp, MHC, and (ii) Flatbush Federal Savings and Loan Association, Flatbush Federal Bancorp, Inc. and Flatbush Federal Bancorp, MHC.
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Ex. 99.1
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Press Release dated March 13, 2012.
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Important Additional Information
Neither this Current Report
on Form 8-K, nor the press release filed as an exhibit to this Current Report constitutes a solicitation of any vote or approval. Flatbush
Bancorp will be filing with the SEC a proxy statement related to a special meeting of its shareholders and other relevant documents
related to the approval by Flatbush Bancorp’s common shareholders of the Merger Agreement and related transactions, including
the Mid-Tier Merger (“Shareholder Approval”). We urge investors to read the proxy statement and any other
related documents to be filed with the SEC because they will contain important information.
Once available, these documents
will be obtainable free of charge on the SEC’s web site (www.sec.gov). In addition, documents filed with the SEC
by Flatbush Bancorp will be available free of charge from Jesus Adia, President and Chief Executive Officer, at (718) 859-6800.
The directors, executive officers
and certain other members of management and employees of Flatbush Bancorp and Northfield Bancorp may be deemed to be “participants”
in the solicitation of proxies for Shareholder Approval. Information regarding the persons who may, under the rules
of the SEC, be considered participants in the solicitation of Shareholder Approval will be set forth in the proxy statement - prospectus
and the other relevant documents to be filed with the SEC. INVESTORS ARE URGED TO READ THE PROXY STATEMENT - PROSPECTUS WHEN
IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED BY FLATBUSH BANCORP WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS
TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. You can find information about Flatbush Bancorp’s
executive officers and directors in its Annual Report on Form 10-K for the year ended December 31, 2010 and other documents filed
with the SEC. Information about the directors and executive officers of Northfield Bancorp is set forth in the proxy
statement related to its 2011 annual meeting of shareholders, as filed with the SEC on a Schedule 14A on April 13, 2011.
Caution about forward-looking
statements
This Current Report on Form
8-K and the attached press release may contain “forward-looking statements” within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking
statements are statements that include projections, predictions, expectations, or beliefs about future events, such as statements
about the anticipated closing date of the Mergers discussed herein. Although we believe that forward-looking statements
are based upon reasonable assumptions, there can be no assurance that actual results, performance or achievements of Flatbush Bancorp
will not differ materially from any results expressed or implied by such forward-looking statements or that Flatbush Bancorp will
be able to close on the Mergers by the anticipated closing date. Such forward-looking statements are subject to risks
and uncertainties, that could cause actual events or results to differ materially from those described in the forward-looking statements
and include, but are not limited to, the risk that regulatory approval and Shareholder Approval will not be obtained and those
risks described in the cautionary language included under the headings “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” in Flatbush Bancorp’s Annual Report on Form
10-K for the fiscal year ended December 31, 2010 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2011, June
30, 2011, and September 30, 2011 and in the cautionary language included under the headings “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” in Northfield Bancorp’s Annual Report on
Form 10-K for the fiscal year ended December 31, 2010, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2011, June
30, 2011 and September 30, 2011 and other filings made by Flatbush Bancorp and Northfield Bancorp with the SEC.
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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FLATBUSH FEDERAL BANCORP, INC.
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By:
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/s/ Jesus R. Adia
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Jesus R. Adia
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President and
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Chief Executive Officer
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DATE: March 13, 2012
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EXHIBIT LIST
Exhibit
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Description
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2.1
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Agreement and Plan of Merger by and among (i) Northfield Savings Bank, Northfield Bancorp, Inc. and Northfield Bancorp, MHC, and (ii) Flatbush Federal Savings and Loan Association, Flatbush Federal Bancorp, Inc. and Flatbush Federal Bancorp, MHC.
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99.1
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Press Release dated March 13, 2012.
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