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IBCA > SEC Filings for IBCA > Form 8-K on 17-Jul-2013All Recent SEC Filings




Other Events, Financial Statements and Exhibits

Item 8.01 - Other Events.

As previously reported, on June 24, 2013, Intervest Bancshares Corporation (the "Company") repurchased 6,250 shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series A (the "Preferred Stock") from the U.S. Treasury. The Preferred Stock was offered and sold by the Treasury through a private offering structured as a modified Dutch auction. The remaining 18,750 shares were sold by the Treasury to domestic qualified institutional buyers or domestic institutional accredited investors.

On July 17, 2013, the Company announced its intention to redeem all of the remaining issued and outstanding Preferred Stock. The effective date for the planned redemption is August 15, 2013, and the redemption price will be the stated liquidation value of $1,000 per share, together with an additional amount of $204.83 per share, reflecting accumulated and unpaid dividends through the planned redemption date. As of July 17, 2013, there were outstanding 18,750 shares of the Preferred Stock. No shares of Preferred Stock will remain outstanding after the planned redemption.

A copy of the Company's press release, dated July 17, 2013, is attached as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 - Financial Statements and Exhibits.

(d) Exhibits.

No. Description

99.1 Press Release dated July 17, 2013

Disclosure about forward-looking statements

This Form 8-K contains forward-looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, changes in interest rate environment, management's business strategy, national, regional, and local market conditions and legislative and regulatory conditions.

Readers should not place undue reliance on forward-looking statements, which reflect management's view only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. Readers should also carefully review the risk factors described in other documents the Company files from time to time with the Securities and Exchange Commission.

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