Wsb Financial Group, Inc. - Current report filing (8-K)

 

 

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: July 30, 2008

 

WSB Financial Group, Inc.

(Exact name of registrant as specified in its charter)

Washington		001-33188		20-3153598
(State of incorporation or organization)		(Commission File Number)		(I.R.S. Employer Identification No.)

607 Pacific Avenue
Bremerton, Washington		98337
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: [phone]

(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:

o		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o		Soliciting material pursuant to Rule 14a-12(b) 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))

 

 

 

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Item 2.02		Results of Operations and Financial Condition.

     The Company reported its earnings and financial results for the second quarter ended June 30, 2008, on July 30, 2008. The Company advised that it will add $3.5 million pretax to its reserve for loan losses, record a valuation charge of $6.5 million to deferred tax asset under GAAP, and report a net loss of $11.0 million in the second quarter of 2008.

     A copy of the press release is attached as Exhibit 99.1 and incorporated by reference. This release is also being furnished for purposes of Regulation FD and Regulation G of the Securities and Exchange Commission.

Item 2.06		Material Impairments.

     On July 30, 2008, the Company announced that it will add $3.5 million pretax to its reserve for loan losses in the second quarter of 2008, and record $1.7 million of net loan charge-offs.

     A copy of the press release is attached as Exhibit 99.1 and incorporated by reference.

Item 5.02		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

     Effective August 1, 2008, Brian B. McLellan resigned as a member of the Board of Directors of WSB Financial Group, Inc. (Nasdaq: WSFG) and its subsidiary, Westsound Bank, and was retained by Westsound Bank as an employee in business development.

Item 9.01		Financial Statements and Exhibits

	(d)		Exhibits
	99.1		Press Release of WSB Financial Group, Inc. dated July 30, 2008.

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

			WSB FINANCIAL GROUP, INC.
			(Registrant)
July 31, 2008			/s/ Terry A. Peterson
(Date)			Terry A. Peterson
			Chief Executive Officer

Exhibit Index

Exhibit No.				Description
	99.1			Press Release of WSB Financial Group, Inc., dated July 30, 2008.

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