- Current report filing (8-K)
December 12 2008 - 12:22PM
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): December 12, 2008
INTERVEST BANCSHARES CORPORATION
(Exact Name of Registrant as Specified in
Charter)
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Delaware
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000-23377
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13-3699013
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(State or other jurisdiction
of incorporation)
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(Commission File Number)
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(IRS Employer
Identification Number)
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One Rockefeller Plaza, Suite 400 New York, New York
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10020-2002
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(Address of Principal Executive Offices)
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(Zip Code)
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Registrants 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 (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d- 2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 7.01
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Regulation FD Disclosure.
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On December 12, 2008, Intervest
Bancshares Corporation (the Company) issued a press release announcing that it has received preliminary approval for a $25 million investment from the U.S. Treasury Department under the TARP Capital Purchase Program. The TARP Capital
Purchase Program is a voluntary program designed to provide capital for healthy banks and improve the flow of funds from banks to their customers. The terms of participation are standardized across the industry. Under the program, the Company will
issue perpetual preferred stock to the U.S. Treasury Department that qualifies as Tier 1 Capital. The stock will carry a 5% dividend payable for each of the first five years of the investment, and 9% thereafter, unless the Company redeems the
preferred shares earlier. In addition, as part of the requirements of the program, the Company will issue to the U.S. Treasury Department a warrant to purchase up to $3.75 million of the Companys Class A Common Stock at any anytime for a
period of up to ten years at an exercise price per share to be determined when the transaction closes. The exercise price will be based on a 20 day trailing average of the Companys Class A Common Stock.
The text of the press release is attached hereto as Exhibit 99.1. This Form 8-K and the attached exhibit are provided and are furnished to, but not filed with, the
Securities and Exchange Commission.
Item 9.01
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Financial Statements and Exhibits
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Exhibit No.
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Description
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99.1
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Press Release dated December 12, 2008
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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 thereunto duly authorized.
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INTERVEST BANCSHARES CORPORATION
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Date: December 12, 2008
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By:
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/s/ Lowell S. Dansker
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Lowell S. Dansker, Chairman and Executive Vice President
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(Principal Executive Officer)
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Date: December 12, 2008
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By:
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/s/ John J. Arvonio
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John J. Arvonio, Chief Financial and Accounting Officer
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(Principal Financial Officer)
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