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):
July
23, 2008
AMB
Financial Corp.
(Exact
Name of Registrant as Specified in its Charter)
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Delaware
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000-23182
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35-1905382
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(State
or Other Jurisdiction Incorporation)
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(Commission
File No.)
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(I.R.S.
Employer Identification No)
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8230
Hohman Avenue, Munster, Indiana
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46321
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(Address
of Principal Executive Offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code:
(219)
836-5870
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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:
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
2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION
AMB
Financial Corp. (the “Company”) previously acquired, pursuant to an agreement
with a local builder, vacant lots on which to construct single-family residences
in St. John and Munster, Indiana. At June 30, 2008, our investment in real
estate development projects consisted of three completed single-family dwelling
units and four vacant lots. Due to the slowdown in the real estate market,
we
decided not to build on the remaining vacant lots. All of the completed units
and vacant lots are currently listed for sale. During the three month period
ended June 30, 2008, the Company reduced the carrying amount of the properties
by $318,000 to $1.7 million based upon current real estate values and economic
conditions in our local market area. In addition, during the quarter ended
June
30, 2008, we incurred $52,000 of holding costs with respect to these properties.
In view of the current weak real estate market, there can be no assurance
whether, when and at what price the Company will be able to sell these
assets.
As
a
result of the above, we expect to record a net loss for the three months ended
June 30, 2008 of from $200,000 to $220,000.
ITEM
8.01
OTHER EVENTS
The
Company declared a cash dividend of $.09 per share for the quarter ended June
30, 2008. The dividend will be payable on August 27, 2008 to shareholders of
record on August 13, 2008.
ITEM
9.01. FINANCIAL STATEMENTS AND EXHIBITS
(a)
Financial Statements of businesses acquired. Not Applicable.
(b)
Pro
forma financial information. Not Applicable.
(c)
Shell
Company Transactions. Not Applicable.
(d)
Exhibits. Not Applicable.
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.
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AMB
FINANCIAL CORP.
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DATE:
July 23, 2008
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By:
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/s/
Michael Mellon
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Michael
Mellon
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President
and
Chief Executive Officer
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