BNV » Topics » About Beverly National Corporation.

This excerpt taken from the BNV 8-K filed Jun 17, 2009.

About Beverly National Corporation.

Beverly National Corporation, the holding company for Beverly National Bank, is headquartered in Beverly, Massachusetts and has approximately $485 million in assets. Beverly National Bank operates eight full-service offices on the north shore, including its Main Office on Cabot Street in Beverly, two additional Beverly branches, as well as branches in Danvers, Hamilton, Manchester-by-the-Sea, Salem and Topsfield. More information about Beverly National Corporation and Beverly National Bank can be found at www.beverlynational.com.

This excerpt taken from the BNV DEFA14A filed Jun 17, 2009.

About Beverly National Corporation.

Beverly National Corporation, the holding company for Beverly National Bank, is headquartered in Beverly, Massachusetts and has approximately $485 million in assets. Beverly National Bank operates eight full-service offices on the north shore, including its Main Office on Cabot Street in Beverly, two additional Beverly branches, as well as branches in Danvers, Hamilton, Manchester-by-the-Sea, Salem and Topsfield. More information about Beverly National Corporation and Beverly National Bank can be found at www.beverlynational.com.

This excerpt taken from the BNV DEF 14A filed Apr 23, 2009.

BEVERLY NATIONAL CORPORATION

 

Please sign above exactly as your name appears on this appointment of proxy. Joint owners of shares should both sign. Fiduciaries or other persons signing in a representative capacity should indicate the capacity in which they are signing.

 

PLEASE ACT PROMPTLY

SIGN, DATE & MAIL YOUR PROXY CARD TODAY

 

IF YOUR ADDRESS HAS CHANGED, PLEASE CORRECT THE ADDRESS IN THE SPACE PROVIDED BELOW AND RETURN THIS PORTION WITH THE PROXY IN THE ENVELOPE PROVIDED.

 

 

 

 

 

 

These excerpts taken from the BNV 10-K filed Mar 27, 2009.

Beverly National Corporation

SIZE="1">(Exact name of registrant as specified in its charter)

 



























Massachusetts 04-2832201
(State or other jurisdiction of incorporation) (IRS Employer Identification No.)
240 Cabot Street, Beverly, Massachusetts 01915
(Address of principal executive offices) (zip code)

Beverly National Corporation

Beverly National Corporation, a Massachusetts corporation (the “Company” or the “Holding Company”), is a registered bank holding company under the Bank Holding Company Act of 1956, as amended. The Holding Company has one banking subsidiary, Beverly National Bank (the “Bank”). The principal executive office of the Company is located at 240 Cabot Street, Beverly, Massachusetts 01915, and the telephone number is (978) 922-2100. The website for the Company and the Bank is “www.beverlynational.com.” The Company provides a link on its website to its Annual Report on Form 10-K, quarterly reports on Forms 10-Q, current reports on Form 8-K and other filings with the Securities and Exchange Commission (the “SEC”) as soon as reasonably practicable after filing such reports with the SEC. Also available on the website are the Company’s Code of Ethics and Conflicts of Interest Policy and Corporate Governance Policy.

The Company was incorporated in 1984 and became the bank holding company for the Bank in 1985. The Bank is believed to be among the oldest banks operating in the United States. The Bank became a national banking association on March 16, 1865. From 1802, until the creation of a national banking system in 1865, the Bank operated as a state chartered bank.

The Bank provides a broad array of consumer and commercial banking services to individuals and to small and mid-size businesses through eight full-service and two limited service branch locations in and around Essex County, Massachusetts. Seven of the full service branch locations are open six days a week and maintain “drive-through” facilities, while all eight branches have automatic teller machines (“ATMs”). The limited service branches operate under reduced hours and lack the “drive-through” infrastructure.

The Bank has made significant investments in its banking platform to enhance the long-term growth prospects of the Company. In order to implement its strategic plan, the Bank developed and implemented a growth-oriented business plan, and embarked upon a series of management initiatives designed to enhance the overall long-term profitability of the Company. As part of this plan, the Company has upgraded certain operational capabilities and business controls designed to monitor and identify underlying costs. The Company also maintains a management team comprised of banking professionals who have significant experience in the Bank’s primary market area and expertise in commercial, consumer and residential lending, along with retail operations.

The Bank has one subsidiary, Beverly National Security Corporation, which was established as a Massachusetts securities corporation for the exclusive purpose of buying, selling or holding investment securities.

The business of the Bank is not significantly affected by seasonal factors.

In the last five years the Bank derived its operating income from the following sources:

 

     % of Operating Income  
     2008     2007     2006     2005     2004  

Interest and fees on loans

   84 %   65 %   68 %   63 %   58 %

Interest and dividends on securities and federal funds sold

   26     19     18     19     21  

Charges, fees and other sources

   (10 )   16     14     18     21  
                              
   100 %   100 %   100 %   100 %   100 %
                              

 

3


Table of Contents

Beverly National Corporation

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">Beverly National Corporation, a Massachusetts corporation (the “Company” or the “Holding Company”), is a registered bank holding
company under the Bank Holding Company Act of 1956, as amended. The Holding Company has one banking subsidiary, Beverly National Bank (the “Bank”). The principal executive office of the Company is located at 240 Cabot Street, Beverly,
Massachusetts 01915, and the telephone number is (978) 922-2100. The website for the Company and the Bank is “www.beverlynational.com.” The Company provides a link on its website to its Annual Report on Form 10-K, quarterly
reports on Forms 10-Q, current reports on Form 8-K and other filings with the Securities and Exchange Commission (the “SEC”) as soon as reasonably practicable after filing such reports with the SEC. Also available on the website are the
Company’s Code of Ethics and Conflicts of Interest Policy and Corporate Governance Policy.

The Company was incorporated in 1984 and
became the bank holding company for the Bank in 1985. The Bank is believed to be among the oldest banks operating in the United States. The Bank became a national banking association on March 16, 1865. From 1802, until the creation of a
national banking system in 1865, the Bank operated as a state chartered bank.

The Bank provides a broad array of consumer and commercial
banking services to individuals and to small and mid-size businesses through eight full-service and two limited service branch locations in and around Essex County, Massachusetts. Seven of the full service branch locations are open six days a week
and maintain “drive-through” facilities, while all eight branches have automatic teller machines (“ATMs”). The limited service branches operate under reduced hours and lack the “drive-through” infrastructure.

The Bank has made significant investments in its banking platform to enhance the long-term growth prospects of the Company. In order to
implement its strategic plan, the Bank developed and implemented a growth-oriented business plan, and embarked upon a series of management initiatives designed to enhance the overall long-term profitability of the Company. As part of this plan, the
Company has upgraded certain operational capabilities and business controls designed to monitor and identify underlying costs. The Company also maintains a management team comprised of banking professionals who have significant experience in the
Bank’s primary market area and expertise in commercial, consumer and residential lending, along with retail operations.

The Bank has
one subsidiary, Beverly National Security Corporation, which was established as a Massachusetts securities corporation for the exclusive purpose of buying, selling or holding investment securities.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">The business of the Bank is not significantly affected by seasonal factors.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">In the last five years the Bank derived its operating income from the following sources:

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 

















































































































































   % of Operating Income 
   2008  2007  2006  2005  2004 

Interest and fees on loans

  84% 65% 68% 63% 58%

Interest and dividends on securities and federal funds sold

  26  19  18  19  21 

Charges, fees and other sources

  (10) 16  14  18  21 
                
  100% 100% 100% 100% 100%
                

 


3







Table of Contents


This excerpt taken from the BNV DEF 14A filed Apr 25, 2008.

BEVERLY NATIONAL CORPORATION

 

(Name of Registrant as Specified in its Charter)

  

 

(Name of Person(s) Filing Proxy Statement if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

x    No fee required.

¨    Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

 

  (1)   Title of each class of securities to which transaction applies:

 

  (2)   Aggregate number of securities to which transaction applies:

 

  (3)   Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):

 

  (4)   Proposed maximum aggregate value of transaction:

 

  (5)   Total fee paid:

¨    Fee paid previously with preliminary materials.

 

  ¨   Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

 

  (1)   Amount Previously Paid:

 

  (2)   Form, Schedule or Registration Statement No.:

 

  (3)   Filing Party:

 

  (4)   Date Filed:


These excerpts taken from the BNV 10-K filed Mar 28, 2008.

Beverly National Corporation

Beverly National Corporation, a Massachusetts corporation (the “Company” or the “Holding Company”), is a registered bank holding company under the Bank Holding Company Act of 1956, as amended. The Holding Company has one banking subsidiary, Beverly National Bank (the “Bank”). The principal executive office of the Company is located at 240 Cabot Street, Beverly, Massachusetts 01915, and the telephone number is (978) 922-2100. The website for the Company and the Bank is “www.beverlynational.com.” The Company provides a link on its website to its Annual Report on Form 10-K, quarterly reports on Forms 10-Q, current reports on Form 8-K and other filings with the Securities and Exchange Commission (the “SEC”) as soon as reasonably practicable after filing such reports with the SEC. Also available on the website are the Company’s Code of Ethics and Conflicts of Interest Policy and Corporate Governance Policy.

The Company was incorporated in 1984 and became the bank holding company for the Bank in 1985. The Bank is believed to be among the oldest banks operating in the United States. The Bank became a national banking association on March 16, 1865. From 1802, until the creation of a national banking system in 1865, the Bank operated as a state chartered bank.

The Bank provides a broad array of consumer and commercial banking services to individuals and to small and mid-size businesses through eight full-service and two limited service branch locations in and around Essex County, Massachusetts. Seven of the full service branch locations are open six days a week and maintain “drive-through” facilities, while all eight branches have automatic teller machines (“ATMs”). The limited service branches operate under reduced hours and lack the “drive-through” infrastructure.

The Bank has made significant investments in its banking platform to enhance the long-term growth prospects of the Company. In order to implement its strategic plan, the Board of Directors hired Donat A. Fournier in July 2002 to serve as the Company’s President and Chief Executive Officer. Under his leadership, the Bank restructured its management team, developed and implemented a growth-oriented business plan, and embarked upon a series of management initiatives designed to enhance the overall long-term profitability of the Company. As part of this plan, the Company has upgraded certain operational capabilities and business controls designed to monitor and identify underlying costs. The Company has also assembled a new management team comprised of banking professionals who have significant experience in the Bank’s primary market area and expertise in commercial, consumer and residential lending, along with retail operations.

As a result of renewed focus by the Company on allocating resources to income-producing core lines of business, it has experienced strong asset growth, primarily in commercial loans, over the past several years. The Bank has also expanded its market presence by opening a new branch in Salem, Massachusetts in June 2007. Stable economic conditions in its market area and its success in responding to new business opportunities have also enhanced the Bank’s growth prospects.

The Bank has one subsidiary, Beverly National Security Corporation, which was established as a Massachusetts securities corporation for the exclusive purpose of buying, selling or holding investment securities. The Hannah Insurance Agency, a former subsidiary of the Bank that sold annuities, life, long-term and liability insurance, was dissolved during February 2006.

The business of the Bank is not significantly affected by seasonal factors.

 

3


Table of Contents

In the last five years the Bank derived its operating income from the following sources:

 

     % of Operating Income  
     2007     2006     2005     2004     2003  

Interest and fees on loans

   65 %   68 %   63 %   58 %   64 %

Interest and dividends on securities and federal funds sold

   19     18     19     21     17  

Charges, fees and other sources

   16     14     18     21     19  
                              
   100 %   100 %   100 %   100 %   100 %
                              

Beverly National Corporation

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">Beverly National Corporation, a Massachusetts corporation (the “Company” or the “Holding Company”), is a registered bank holding
company under the Bank Holding Company Act of 1956, as amended. The Holding Company has one banking subsidiary, Beverly National Bank (the “Bank”). The principal executive office of the Company is located at 240 Cabot Street, Beverly,
Massachusetts 01915, and the telephone number is (978) 922-2100. The website for the Company and the Bank is “www.beverlynational.com.” The Company provides a link on its website to its Annual Report on Form 10-K, quarterly
reports on Forms 10-Q, current reports on Form 8-K and other filings with the Securities and Exchange Commission (the “SEC”) as soon as reasonably practicable after filing such reports with the SEC. Also available on the website are the
Company’s Code of Ethics and Conflicts of Interest Policy and Corporate Governance Policy.

The Company was incorporated in 1984 and
became the bank holding company for the Bank in 1985. The Bank is believed to be among the oldest banks operating in the United States. The Bank became a national banking association on March 16, 1865. From 1802, until the creation of a
national banking system in 1865, the Bank operated as a state chartered bank.

The Bank provides a broad array of consumer and commercial
banking services to individuals and to small and mid-size businesses through eight full-service and two limited service branch locations in and around Essex County, Massachusetts. Seven of the full service branch locations are open six days a week
and maintain “drive-through” facilities, while all eight branches have automatic teller machines (“ATMs”). The limited service branches operate under reduced hours and lack the “drive-through” infrastructure.

The Bank has made significant investments in its banking platform to enhance the long-term growth prospects of the Company. In order to
implement its strategic plan, the Board of Directors hired Donat A. Fournier in July 2002 to serve as the Company’s President and Chief Executive Officer. Under his leadership, the Bank restructured its management team, developed and
implemented a growth-oriented business plan, and embarked upon a series of management initiatives designed to enhance the overall long-term profitability of the Company. As part of this plan, the Company has upgraded certain operational capabilities
and business controls designed to monitor and identify underlying costs. The Company has also assembled a new management team comprised of banking professionals who have significant experience in the Bank’s primary market area and expertise in
commercial, consumer and residential lending, along with retail operations.

As a result of renewed focus by the Company on allocating
resources to income-producing core lines of business, it has experienced strong asset growth, primarily in commercial loans, over the past several years. The Bank has also expanded its market presence by opening a new branch in Salem, Massachusetts
in June 2007. Stable economic conditions in its market area and its success in responding to new business opportunities have also enhanced the Bank’s growth prospects.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">The Bank has one subsidiary, Beverly National Security Corporation, which was established as a Massachusetts securities corporation for the exclusive
purpose of buying, selling or holding investment securities. The Hannah Insurance Agency, a former subsidiary of the Bank that sold annuities, life, long-term and liability insurance, was dissolved during February 2006.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">The business of the Bank is not significantly affected by seasonal factors.

 


3







Table of Contents


In the last five years the Bank derived its operating income from the following sources:

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 

















































































































































   % of Operating Income 
   2007  2006  2005  2004  2003 

Interest and fees on loans

  65% 68% 63% 58% 64%

Interest and dividends on securities and federal funds sold

  19  18  19  21  17 

Charges, fees and other sources

  16  14  18  21  19 
                
  100% 100% 100% 100% 100%
                
This excerpt taken from the BNV DEF 14A filed Apr 23, 2007.

BEVERLY NATIONAL CORPORATION


(Name of Registrant as Specified in its Charter)

 


(Name of Person(s) Filing Proxy Statement if other than the Registrant)

 

Payment of Filing Fee (Check the appropriate box):

 

x    No fee required.

 

¨    Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

 

  (1)   Title of each class of securities to which transaction applies:

 

  (2)   Aggregate number of securities to which transaction applies:

 

  (3)   Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):

 

  (4)   Proposed maximum aggregate value of transaction:

 

  (5)   Total fee paid:

 

¨    Fee paid previously with preliminary materials.

 

  ¨   Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

 

  (1)   Amount Previously Paid:

 

  (2)   Form, Schedule or Registration Statement No.:

 

  (3)   Filing Party:

 

  (4)   Date Filed:


This excerpt taken from the BNV 10-K filed Mar 30, 2007.

Beverly National Corporation

Beverly National Corporation, a Massachusetts corporation (the “Company” or the “Holding Company”), is a registered bank holding company under the Bank Holding Company Act of 1956, as amended. The Holding Company has one banking subsidiary, Beverly National Bank (the “Bank”). The principal executive office of the Company is located at 240 Cabot Street, Beverly, Massachusetts 01915, and the telephone number is (978) 922-2100. The website for the Company and the Bank is “www.beverlynational.com.” The Company provides a link on its website to its Annual Report on Form 10-K, quarterly reports on Forms 10-Q, current reports on Form 8-K and other filings with the Securities and Exchange Commission (the “SEC”) as soon as reasonably practicable after filing such reports with the SEC. Also available on the website are the respective Charters of the Board’s Nominating, Governance, Audit, and Compensation and Benefits Committees.

Beverly National Corporation was incorporated in 1984 and became the bank holding company for the Bank in 1985. The Bank is believed to be among the oldest banks operating in the United States. The Bank became a national banking association on March 16, 1865. From 1802, until the creation of a national banking system in 1865, the Bank operated as a state chartered bank.

The Bank provides a broad array of consumer and commercial banking services to individuals and to small and mid-size businesses through seven full-service and two limited service branch locations in and around Essex County, Massachusetts. All of the full service branch locations are open six days a week and have automatic teller machines (“ATMs”), with six locations maintaining “drive-through” facilities. The limited service branches operate under reduced hours and lack the “drive-through” infrastructure.

During the past three years, the Bank has made significant investments in its banking platform to enhance the long-term growth prospects of the Company. In order to implement its strategic plan, the Board of Directors hired Donat A. Fournier in July 2002 to serve as the Company’s President and Chief Executive Officer. Under his leadership, the Bank restructured its management team, developed and implemented a growth-oriented business plan, and embarked upon a series of management initiatives designed to enhance the overall long-term profitability of the Company. As part of this plan, the Company has upgraded certain operational capabilities and business controls designed to monitor and identify underlying costs. The Company has also assembled a new management team comprised of banking professionals who have significant experience in the Bank’s primary market area and expertise in commercial, consumer and residential lending, along with retail operations.

As a result of renewed focus by the Company of allocating resources to income-producing core lines of business, it has experienced strong asset growth, primarily in commercial loans, over the last three years. The Bank has also expanded its market presence by opening a new branch in Danvers, Massachusetts in 2004 and anticipates opening its newest branch in Salem, Massachusetts, currently scheduled for mid-2007. Stable economic conditions in its market area and its success in responding to new business opportunities have also enhanced the Bank’s growth prospects.

The Bank has one subsidiary, Beverly National Security Corporation, which was established as a Massachusetts securities corporation for the exclusive purpose of buying, selling or holding investment securities. The Hannah Insurance Agency, a former subsidiary of the Bank that sold annuities, life, long-term and liability insurance, was dissolved during February 2006. Cabot Street Realty Trust, which previously operated as a subsidiary of the Company was merged into the Company on December 31, 2004. The activity of Cabot Street Realty Trust was limited to holding real estate used principally by the Company.

The business of the Bank is not significantly affected by seasonal factors.

 

3


Table of Contents

In the last five years the Bank derived its operating income from the following sources:

 

     % of Operating Income  
     2006     2005     2004     2003     2002  

Interest and fees on loans

   68 %   63 %   58 %   64 %   66 %

Interest and dividends on securities and federal funds sold

   18     19     21     17     15  

Charges, fees and other sources

   14     18     21     19     19  
                              
   100 %   100 %   100 %   100 %   100 %
                              
This excerpt taken from the BNV 8-K filed Jul 13, 2006.

Beverly National Corporation

(Exact name of registrant as specified in charter)

 

 

Massachusetts    33-22224-B    04-2832201
(State or other jurisdiction of incorporation)    (Commission File Number)    (IRS Employer Identification No.)
240 Cabot Street, Beverly, Massachusetts    01915
(Address of principal executive offices)    (zip code)

 

Registrant’s telephone number, including area code: (978) 922-2100

 

 

N/A
(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instructions A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (12 C.F.R. 230.425)

 

¨ Soliciting material pursuant to Rule 14a-2 under the Exchange Act (17 C.F.R. 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 C.F.R. 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 C.F.R. 240.13e-4(c))


Form 8-K, Current Report

Beverly National Corporation

 

Section 8.     Other Events

Item 8.01. Other Events.

On July 13, 2006, Beverly National Corporation issued a press release disclosing that it had priced 700,000 shares of its common stock in an underwritten public offering. A copy of such press release is attached hereto as Exhibit 99.1.

Section 9.     Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits.

 

  (a) Not Applicable.

 

  (b) Not Applicable.

 

  (c) Not Applicable.

 

  (d) Exhibits.

 

       Press Release dated July 13, 2006.


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 hereto duly authorized.

 

Dated: July 13, 2006

  BEVERLY NATIONAL CORPORATION
  By:   /s/ Donat A. Fournier
   

Donat A. Fournier

President and Chief Executive Officer

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki