Item 8.01 Other Events

On April 7, 2009, the registrant's wholly owned subsidiary, Intervest National Bank (the "Bank"), entered into a Memorandum of Understanding ("MOU") with the Comptroller of the Currency ("OCC"), which requires the Bank to (1) appoint a Compliance Committee to monitor and coordinate the Bank's adherence to the MOU and to submit progress reports to the OCC; (2) develop and implement a Strategic Plan in accordance with guidelines set forth in the MOU; (3) review and revise the Bank's Contingency Funding Plan to address matters outlined in the MOU;
(4) develop and implement a written program to improve credit risk management processes that are consistent across the Bank's two primary markets; (5) develop and implement a three-year capital program in accordance with guidelines set out in the MOU; and (6) review and revise the Bank's interest rate risk policy and procedures to address matters set forth in the MOU. The Bank has also agreed with the OCC to maintain minimum capital ratios at specified levels higher than those otherwise required by applicable regulations.

Management has commenced the steps necessary to satisfy the conditions of the MOU and is committed to addressing and resolving any and all issues presented therein.

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