- Amended Annual Report (10-K/A)
24 Avril 2009 - 11:14PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
10-K/A
AMENDMENT
No. 1
ANNUAL
REPORT UNDER SECTION 13 OR 15(d)
OF
THE SECURITIES EXCHANGE ACT OF 1934
For the
fiscal year ended December 31, 2008
Commission
file number 000-27307
(Exact
name of registrant as specified in its charter)
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North
Carolina
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56-1980549
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(State
or Other Jurisdiction of
Incorporation
or Organization)
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(I.R.S.
Employer Identification No.)
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2634
Durham Chapel Hill Blvd.
Durham,
North Carolina
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27707-2800
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(Address
of Principal Executive Offices)
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(Zip
Code)
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(919)
687-7800
(Registrant’s
Telephone Number, Including Area Code)
Securities
registered pursuant to Section 12(b) of the Act:
None
Securities
registered pursuant to Section 12(g) of the Act:
Common
Stock, no par value
(Title of
class)
Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in
Rule 405 of the Securities Act.
Yes
¨
No
þ
Indicate
by check mark if the registrant is not required to file reports pursuant to
Section 13 or Section 15(d) of the Act.
Yes
¨
No
þ
Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days. Yes
þ
No
¨
Indicate
by check mark if disclosure of delinquent filers pursuant to Item 405 of
Regulation S-K is not contained herein, and will not be contained, to the best
of registrant’s knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment of this
Form 10-K.
¨
Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
definitions of “large accelerated filer,” “accelerated filer,” and “smaller
reporting company” in Rule 12b-2 of the Exchange Act (check one):
Large
accelerated filer
¨
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Accelerated
filer
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Nonaccelerated
filer
¨
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Smaller
reporting company
þ
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(Do not
check here if a smaller reporting company)
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Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act).
Yes
¨
No
þ
The
aggregate market value of the registrant’s common stock, no par value per share,
as of June 30, 2008, held by those persons deemed by the registrant to be
nonaffiliates was approximately $11,440,623 (shares held by nonaffiliates at
$7.98 per share). For purposes of the foregoing calculation only, all directors,
executive officers, and 5% stockholders of the registrant have been deemed
affiliates.
As of
March 31, 2009 there were 2,031,337 shares outstanding of the registrant’s
common stock, no par value.
DOCUMENTS
INCORPORATED BY REFERENCE
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Document
Incorporated
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Where
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11.
Portions
of the registrant’s Proxy Statement for the Annual Meeting of Stockholders
to be held on June 9, 2009.
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Part
III
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EXPLANATORY
NOTE
This
Amendment No. 1 on Form 10-K/A (this “Amendment”) amends the Registrant’s Annual
Report on Form 10-K for the year ended December 31, 2008, which the Registrant
previously filed with the Securities and Exchange Commission (the “SEC”) on
April 6, 2009 (the “Original Filing”). The Registrant is filing this Amendment
solely to correct typographical errors in the Consolidated Statements of Changes
in Stockholders Equity in the Original Filing. In addition, as required by Rule
12b-15 under the Securities Exchange Act of 1934, new certifications by our
principal executive officer and principal financial officer are filed as
exhibits to this Amendment. Except for the amendments described above, we have
not modified or updated disclosures presented in the Original Filing in this
Form 10-K/A. Accordingly, this Form 10-K/A does not reflect events occurring
after the filing of the Original Filing or modify or update those disclosures
affected by subsequent events. Accordingly, this Form 10-K/A should be read in
conjunction with our filings made with the SEC after the filing of the Original
Filing.
PART II
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FINANCIAL
STATEMENTS AND SUPPLEMENTARY DATA
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CONSOLIDATED
STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
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YEARS
ENDED DECEMBER 31, 2008 AND 2007
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Accumulated
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Number
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Other
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of
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Common
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Retained
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Comprehensive
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(Dollars
in thousands)
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Shares
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Stock
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Earnings
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Loss
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Total
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Balances
as of December 31, 2006
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1,685,646
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$ 5,901
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$ 16,027
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$ (166)
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$ 21,762
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Comprehensive
income:
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Net
income
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927
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927
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Other
comprehensive loss
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(192)
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(192)
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Total
comprehensive income
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735
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Dividends
declared ($0.20 per share)
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(337)
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(337)
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Balances
as of December 31, 2007
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1,685,646
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$ 5,901
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$ 16,617
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$ (358)
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$ 22,895
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Balances
as of December 31, 2007 (as previously reported)
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1,685,646
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$ 5,901
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$ 16,617
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$ (358)
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$ 22,160
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Adjustment
to reflect adoption of EITF Issue 06-04
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effective
January 1, 2008
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(158)
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(158)
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Balances
as of January 1, 2008, following adoption of EITF Issue
06-04
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1,685,646
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5,901
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16,459
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(358)
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22,002
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Comprehensive
income:
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Net
income
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901
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901
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Other
comprehensive loss
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(1,027)
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(1,027)
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Total
comprehensive loss
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(126)
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Acquisition
of Mutual Community Savings
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Bank,
Inc., SSB ("MCSB")
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345,691
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2,831
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2,831
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Dividends
declared ($0.20 per share)
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(388)
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(388)
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Balances
as of December 31, 2008
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$
2,031,337
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$ 8,732
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$ 16,972
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$ (1,385)
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$ 24,319
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PART
IV
ITEM
15. EXHIBITS
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Exhibits and Index of
Exhibits
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The
following exhibits are filed with or incorporated by reference into this
report.
Exhibit No.
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Exhibit Description
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Exhibit
3(i)
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Articles
of Incorporation of the Company incorporated by reference to Exhibit (3)
to the Form 10-QSB for the quarter ended September 30, 1999, filed with
the SEC on November 12, 1999.
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Exhibit
3(ii)
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Amended
Articles of Incorporation of the Company, adopted by the Shareholders of
the Company on May 3, 2000, incorporated by reference to
Exhibit 3(v) to the Form 10-KSB for the year ended
December 31, 2005, filed with the SEC on March 31,
2006.
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Exhibit
3(iii)
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Restated
Bylaws of the Company, incorporated by reference to Exhibit 99.1 to the
Form 8K filed with the SEC on April 6, 2009.
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Exhibit
4
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Specimen
Stock Certificate, incorporated by reference to Exhibit 4 to the Form
10-KSB for the year ended December 31, 2000, filed with the SEC on April
2, 2001.
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Exhibit
10(i)
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Employment
Agreement dated January 12, 2007 by and among Kim D. Saunders, the Company
and the Bank, incorporated by reference to Exhibit 99.1 to the Form 8-K
filed with the SEC on January 18, 2007.
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Exhibit
10(ii)
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Agreement
and Plan of Reorganization and Merger by and among the Company, the Bank
and MCSB, dated August 9, 2007, incorporated by reference to Exhibit 2.1
to the Form 8-K, filed with the SEC on August 10, 2007.
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Exhibit
21
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Subsidiaries
of the Company, incorporated by reference to Exhibit 21 to the Form
10-KSB, filed with the SEC on March 31, 2006.
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Exhibit
23 *
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Consent
of McGladrey & Pullen, LLP.
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Exhibit
31(i)
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Certification
of Kim D. Saunders.
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Exhibit
31(ii)
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Certification
of Lyn Hittle.
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Exhibit
32
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Certification
pursuant to 18 U.S.C. Section 1350.
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*
Previously filed as an exhibit to the Original
Filing.
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SIGNATURES
In accordance with Section 13 or
15(d) of the Securities Exchange Act, the registrant caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
M&F Bancorp,
Inc.
Date:
April 24,
2009
By:
/s/ Kim D.
Saunders
Kim D.
Saunders
President and
Chief Executive Officer
INDEX
TO EXHIBITS
Exhibit No.
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Exhibit Description
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Exhibit
31(i)
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Certification
of Kim D. Saunders.
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Exhibit
31(ii)
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Certification
of Lyn Hittle.
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Exhibit
32
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Certification
pursuant to 18 U.S.C. Section 1350.
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M and F Bancorp (PK) (USOTC:MFBP)
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