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Quotes & Info
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| IBNK > SEC Filings for IBNK > Form 8-K on 18-May-2009 | All Recent SEC Filings |
18-May-2009
Regulation FD Disclosure
Integra Bank Corporation today announced that its bank subsidiary, Integra Bank N.A., provided a written consent to Peoples Community Bancorp, Inc ("PCBI") in connection with the transaction announced earlier today by PCBI relating to the proposed sale of certain assets and assumption of liabilities of PCBI's thrift subsidiary. PCBI is the obligor on a $17.5 million secured line of credit from Integra Bank which has matured. Integra Bank agreed to, among other things, forbear and refrain from initiating or prosecuting any action in any court to enforce its rights with respect to the stock of PCBI's thrift subsidiary which is pledged to secure the line of credit or exercise any other rights or remedies available to Integra Bank that would have the effect of hindering or delaying the proposed transaction. These developments have not affected the status of the PCBI loan which remains on nonaccrual. Integra Bank expects to work with PCBI to develop a mutually acceptable restructuring of the line of credit prior to the proposed closing date for the purchase and assumption transaction.
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