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| IBNK > SEC Filings for IBNK > Form 8-K on 18-Sep-2009 | All Recent SEC Filings |
18-Sep-2009
Regulation FD Disclosure, Financial Statements and Exhibits
On September 18, 2009, the Integra Bank Corporation (the "Corporation") announced that its Board of Directors suspended the payment of cash dividends on the Company's common stock for an indefinite period. The quarterly dividend had previously been $0.01 per share. A copy of a press release announcing the change in dividend policy is included as Exhibit 99.1 and is incorporated by reference.
The Company has made informal commitments to the Federal Reserve Bank of St. Louis ("Reserve Bank") in the form of a memorandum of understanding. Pursuant to the memorandum, the Company has agreed not to pay any dividends on outstanding shares or interest or other sums on outstanding trust preferred securities without the prior written approval of the Reserve Bank.
Prior to entering into the memorandum, the Company requested the Reserve Bank to
approve the payment of interest in the amount of $496,915 on an issue of trust
preferred securities that is payable this month. The Reserve Bank approved the
Company's request. The Company also requested the Reserve Bank's approval to pay
dividends on the Company's outstanding series of Fixed Rate Cumulative Perpetual
Preferred Stock, Series B, held by the U.S. Department of Treasury.
Approximately $1,045,000 in dividends on the preferred shares will be payable in
November 2009. The Reserve Bank has advised the Company it will consider such
request after reviewing the capital plan of Integra Bank N.A.
(c) Exhibit
99.1 Press Release dated September 18, 2009
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