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| SOMH > SEC Filings for SOMH > Form 8-K on 21-May-2009 | All Recent SEC Filings |
21-May-2009
Entry into a Material Definitive Agreement, Other Events, Financial Statem
On May 20, 2009, Somerset Hills Bancorp (the "Registrant") entered into a Repurchase Letter Agreement (the "Repurchase Agreement") with the United States Department of Treasury (the "Treasury"). Pursuant to the Repurchase Agreement, the Registrant repurchased all of the 7,414 shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series A (the "Preferred Stock") that the Registrant issued to the Treasury on January 16, 2009. The Registrant repurchased the Preferred Stock for $7,414,000, plus accrued and unpaid dividends in the amount of $5,148.61. A copy of the Repurchase Agreement is attached hereto as Exhibit 10.1 and is incorporated into this Item 1.01 by reference.
On May 20, 2009, the Registrant issued a press release announcing that the Registrant repurchased the Preferred Stock issued to the United States Department of the Treasury pursuant to the Capital Purchase Program. A copy of the May 20, 2009 press release is included as Exhibit 99.1 hereto.
The information in this section, including the information contained in the press release included as Exhibit 99.1 hereto, is being furnished pursuant to this Item 8.01 and shall not deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. In addition, this information shall not be deemed to be incorporated by reference into any of the Registrant's filings with the Securities and Exchange Commission, except as shall be expressly set forth by specific reference in any such filing.
(d) Exhibits. The following is filed as an Exhibit to this Current Report on Form 8-K:
10.1 Repurchase Letter Agreement dated May 20, 2009, between Somerset Hills
Bancorp and the United States Department of the Treasury.
99.1 Press release dated May 20, 2009 with respect to the redemption of the
preferred stock issued in connection with the Registrant's
participation the U.S. Treasury's Capital Purchase Program
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