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
30, 2014
PORTER BANCORP, INC.
(Exact
Name of Registrant as specified in Charter)
Kentucky
|
001-33033
|
61-1142247
|
(State or other jurisdiction
of incorporation)
|
(Commission
File Number)
|
(IRS Employer
Identification No.)
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2500 Eastpoint Parkway, Louisville, Kentucky
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40223
|
(Address
of principal executive offices)
|
(Zip
code)
|
(502) 499-4800
(Registrant’s
telephone number, including area code)
N/A
(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 under the Exchange Act (17 CFR
240.14a-12)
⃞
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 5.02
|
Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
|
On December 30, 2014, Porter Bancorp, Inc., (PBIB) parent company of PBI
Bank, announced the appointment of Bradford T. Ray to the boards of
directors of PBIB and PBI Bank had become effective following the
receipt of regulatory approvals. The Company also announced the
retirement of director William G. Porter, effective December 30, 2014.
Mr. Ray, age 56, served in various leadership roles at Steel
Technologies, Inc. from 1981 to 2010, including as CEO beginning in 1999
and as Chairman beginning in 2002. He served as an advisor to Steel
Technologies, Inc. from 2010 to 2012. He has been a consultant with BTR
Advisory Services since 2012 and has been an independent director at
Global Brass and Copper Holdings, Inc. since December 10, 2014. Mr. Ray
serves on the board of trustees of Bellarmine University in Louisville,
Kentucky.
A copy of the press release announcing these changes is attached as
Exhibit 99.1 to this report.
Item 9.01
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Financial Statements and Exhibits.
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Exhibit Number
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Description of Exhibit
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99.1
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Press release issued December 30, 2014.
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SIGNATURE
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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PORTER BANCORP, INC.
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|
|
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Date:
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December 30, 2014
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By
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/s/ John T. Taylor
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|
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John T. Taylor
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Chief Executive Officer
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3
Exhibit 99.1
Porter
Bancorp, Inc. Appoints Bradford T. Ray As New Director
LOUISVILLE, Ky.--(BUSINESS WIRE)--December 30, 2014--Porter Bancorp,
Inc. (NASDAQ: PBIB), parent company of PBI Bank, today announced that
Bradford T. Ray has been appointed to the boards of directors of Porter
Bancorp, Inc. and PBI Bank, Inc.
Ray, age 56, served in various leadership roles at Steel Technologies,
Inc. from 1981 - 2010, including Chairman and CEO. He also served as an
advisor to Steel Technologies, Inc. from 2010 - 2012. He has been a
consultant with BTR Advisory Services since 2012 and has been an
independent director at Global Brass and Copper Holdings, Inc. since
Dec. 2014. Mr. Ray also serves on Bellarmine University’s Board of
Trustees in Louisville, Ky.
“We welcome Mr. Ray to the boards of Porter Bancorp and PBI Bank and
appreciate his commitment to the future of our organization,” stated
John T. Taylor, President and CEO of Porter Bancorp, Inc. “He brings
significant leadership experience to us and will add a valuable
perspective to our team.”
Porter Bancorp and PBI Bank have received notice of non-objection from
its primary regulators to appoint Ray to its boards of directors. Mr.
Ray fills the board positions being vacated by the retirement of William
G. Porter as a director of Porter Bancorp and PBI Bank.
“We also extend our sincere gratitude at this time to Mr. Porter for his
dedication and leadership. We are extremely grateful for his advice and
counsel over the many years he has served the bank,” added Taylor.
About Porter Bancorp, Inc.
Porter Bancorp, Inc., a bank holding company headquartered in
Louisville, Kentucky, had $1.0 billion in assets as of September 30,
2014. Through Porter’s subsidiary PBI Bank, it operates banking offices
in Kentucky. Porter Bancorp’s common stock is traded on the Nasdaq
Capital Market under the symbol “PBIB.”
PBIB-G
Forward-Looking Statements
Statements in this press release relating to Porter Bancorp’s plans,
objectives, expectations or future performance are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. The words “believe,” “may,” “should,” “anticipate,”
“estimate,” “expect,” “intend,” “objective,” “possible,” “seek,” “plan,”
“strive” or similar words, or negatives of these words, identify
forward-looking statements. These forward-looking statements are based
on management’s current expectations. Porter Bancorp’s actual results in
future periods may differ materially from those indicated by
forward-looking statements due to various risks and uncertainties,
including our ability to reduce our level of higher risk loans such as
commercial real estate and real estate development loans, reduce our
level of non-performing loans and other real estate owned, and increase
net interest income in a low interest rate environment, as well as our
need to increase capital. These and other risks and uncertainties are
described in greater detail under “Risk Factors” in the Company’s Form
10-K and subsequent periodic reports filed with the Securities and
Exchange Commission. The forward-looking statements in this press
release are made as of the date of the release and Porter Bancorp does
not assume any responsibility to update these statements.
CONTACT:
Porter Bancorp, Inc.
John T. Taylor, 502-499-4800
Chief
Executive Officer
Porter Bancorp, Inc. (delisted) (NASDAQ:PBIB)
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