- Current report filing (8-K)
November 24 2010 - 4:31PM
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):
November 19, 2010
Solera National Bancorp, Inc.
(Exact name of registrant as specified in its charter)
Delaware
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000-53181
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02-0774841
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(State or other jurisdiction
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(Commission
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(IRS Employer
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of incorporation)
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File Number)
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Identification No.)
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319 S. Sheridan Blvd.
Lakewood, CO 80226
303-209-8600
(Address and telephone number of principal executive offices)
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 1.02. Termination of a Material Definitive Agreement.
On
November 19, 2010, Solera National Bank (the Bank), a national bank and
a subsidiary of Solera National Bancorp, Inc. (the Company), terminated the
Purchase and Assumption Agreement dated August 5, 2010 (the Agreement) with
Liberty Savings Bank, FSB (Liberty). Under the terms of the Agreement, the
Bank had agreed to acquire certain assets and assume certain liabilities of
Libertys branch location at 7111 W. Alameda Avenue, Unit E, Lakewood,
Colorado.
The
Banks decision to terminate the Agreement was based on indications from the
Office of the Comptroller of the Currency, the Banks primary federal
regulator, that the acquisition would not receive the required regulatory
approval primarily due to concerns over the Banks previously reported charge
to earnings in the third quarter for credit losses, credit administration
issues identified in a recent regulatory examination, which the Bank is in the
process of correcting, and the continuing uncertain economic environment. The
Agreement provided that closing of the acquisition was conditioned upon
approval of the appropriate banking regulatory authorities, and as a result,
following indications that regulatory approval would not be obtained, the Bank
was able to terminate the Agreement without incurring any penalties.
A
copy of the Agreement was attached as Exhibit 2.1 to the Companys Current
Report on Form 8-K filed on August 11, 2010 and is incorporated herein by
reference.
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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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Solera National Bancorp, Inc.
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(Registrant)
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Date:
November 24, 2010
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By:
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/s/
Robert J. Fenton
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Name:
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Robert
J. Fenton
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Title:
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Executive
Vice President and Chief Financial Officer
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