![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Talmer Bancorp, Inc. | NASDAQ:TLMR | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 23.26 | 23.50 | 23.99 | 0 | 01:00:00 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of report (Date of earliest event reported): November 21, 2014
Talmer Bancorp, Inc.
(Exact name of registrant as specified in its charter)
Michigan (State or other jurisdiction of incorporation) |
|
001-36308 (Commission File Number) |
|
61-1511150 (IRS Employer Identification No.) |
2301 West Big Beaver Rd., Suite 525 Troy, Michigan (Address of principal executive offices) |
|
48084 (Zip Code) |
(248) 498-2802
(Registrants telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 21, 2014, Wilbur L. Ross, Jr. resigned as a director of Talmer Bancorp, Inc. (the Company) and its subsidiary, Talmer Bank and Trust (the Bank). Mr. Ross resigned from the Companys and the Banks Boards of Directors following his recent appointment to serve as Vice Chairman of Bank of Cyprus, as a result of new regulatory restrictions in the European Union which limit the number of directorships a bank officer may hold. Mr. Ross decision did not involve a disagreement with the Company on any matter relating to the Companys operations, policies or practices.
Mr. Ross served as the director representative for WLR Recovery Fund IV, L.P. and WLR IV Parallel ESC, L.P. (the WL Ross Funds) under the Stock Subscription Agreement entered into between the Company and the WL Ross Funds dated March 29, 2010, as amended (the Subscription Agreement), which provides the WL Ross Funds the right to designate one representative to the Companys and Banks Boards of Directors. The Companys Board of Directors is scheduled to meet in December 2014 to address the vacancy resulting from Mr. Ross resignation. Pursuant to the Subscription Agreement, the WL Ross Funds intend to designate Denny Kim as their new director representative at that time. Mr. Kim is a Vice President at WL Ross & Co. LLC and has worked closely with our team since the WL Ross Funds initial investment in the Company.
A press release regarding Mr. Ross resignation is filed as Exhibit 99.1 to this Current Report on Form 8-K.
Item 8.01 Other Events.
Under the Subscription Agreement, the WL Ross Funds also have the right to appoint one non-voting observer to attend all meetings of the Companys and the Banks Boards of Directors. Following Mr. Ross resignation from the Companys and the Banks Boards of Directors, the WL Ross Funds appointed Mr. Ross to serve as the non-voting observer.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
|
Exhibit |
99.1 |
|
Talmer Bancorp, Inc. Press Release dated November 21, 2014 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
TALMER BANCORP, INC. | |
|
| |
|
| |
Dated: November 21, 2014 |
By: |
/s/ David T. Provost |
|
|
David T. Provost |
|
|
Chief Executive Officer |
Exhibit 99.1
2301 W. Big Beaver Road Suite 525 Troy, MI 48084 248.649.2301 www.talmerbank.com
FOR IMMEDIATE RELEASE
Talmer Bancorp, Inc.
Board of Directors Announcement
Troy, Mich. (November 21, 2014) (NASDAQ TLMR) Talmer Bancorp, Inc. announced today that Wilbur L. Ross, Jr. has resigned from its Board of Directors. Talmers Board is scheduled to meet in December 2014 to address the vacancy resulting from Mr. Ross resignation. WL Ross & Co. intends to nominate Denny Kim to the Board at that time.
Mr. Kim is a Vice President at WL Ross & Co and has worked closely with the Talmer team since WL Ross & Cos initial investment in the Company. Mr. Kim would replace Mr. Ross who has served on the Talmers Board since 2010.
It has been an honor and privilege to have Mr. Ross as an active Board member but we have every confidence that upon official appointment, Mr. Kim will carry forward the valued contributions we have come to expect from Mr. Ross and WL Ross & Co., said Gary Torgow, Chairman of Talmer Bancorp, Inc.
Mr. Ross resigned from the Board due to regulatory restrictions in the European Union which limit the number of directorships a bank officer may hold. Mr. Ross was recently appointed Vice Chairman of the Bank of Cyprus following a recent investment by WL Ross & Co. I regret having to resign from the Board of Talmer Bancorp, along with several other companies with whom I have worked closely, but I am pleased to recommend Denny to the Board, and I am fully confident in his ability to contribute to Talmers continued success. WL Ross & Co and its affiliates remain a major shareholder of Talmer and I will continue to be engaged with this well-managed Company, said Mr. Ross.
Mr. Kim joined WL Ross & Co. in 2010 and is primarily responsible for investments in financial services companies. Prior to joining WL Ross & Co., Mr. Kim worked at J.C. Flowers & Co., a private equity firm focused exclusively on the financial services sector. Mr. Kim began his career in Credit Suisse First Bostons Investment Banking Division, where he advised on mergers, acquisitions and capital raising initiatives for financial institutions. Mr. Kim holds an M.B.A. from the Tuck School of Business at Dartmouth and a B.A. from Northwestern University.
About Talmer Bancorp, Inc.
Headquartered in Troy, Michigan, Talmer Bancorp, Inc. is the holding company for Talmer Bank and Trust and Talmer West Bank. These banks, operating through branches and lending offices in Michigan, Ohio, Indiana, Maryland, Nevada, and Illinois, offer a full suite of commercial and retail banking, mortgage banking, wealth management and trust services to small and medium-sized businesses and individuals. For more information, please visit www.talmerbank.com.
For further information, contact:
Angela Spencer Ford
MultiConnect
248.331-1147 Office
aford@multiconnectmarketing.com
1 Year Talmer Bancorp, Inc. Chart |
1 Month Talmer Bancorp, Inc. Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions