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First Community Bancshares 8-K 2008

Documents found in this filing:

  1. 8-K
  2. 8-K
FIRST COMMUNITY BANCSHARES, INC. 8-K
Table of Contents

 
 
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
May 29, 2008
Date of Report (Date of earliest event reported)
FIRST COMMUNITY BANCSHARES, INC.
(Exact name of registrant as specified in its charter)
         
Nevada   000-19297   55-0694814
         
(State or other jurisdiction of   (Commission File Number)   (IRS Employer
incorporation)       Identification No.)
         
P.O. Box 989        
Bluefield, Virginia       24605-0989
         
(Address of principal executive offices)       (Zip Code)
(276) 326-9000
(Registrant’s telephone number, including area code)
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))
 
 

 


TABLE OF CONTENTS

Item 1.01 Entry into a Material Definitive Agreement
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
SIGNATURE


Table of Contents

Item 1.01 Entry into a Material Definitive Agreement.
     On May 29, 2008, First Community Bancshares, Inc. (the “Company”) entered into a $20 million Revolving Credit Agreement with SunTrust Bank, a Georgia corporation (the “Credit Agreement”). This line of credit, which expires on May 29, 2009, unless extended by SunTrust Bank following a timely request by the Company, will be used to support the growth of the Company and its banking subsidiary.
     Interest on the loan is priced at one-month LIBOR plus 115 basis points and will be variable with changes in the one-month LIBOR rate over the term of the line of credit. In addition, the Credit Agreement obligates the Company to pay a commitment fee of 0.25% per annum on the daily amount of any unused commitment.
Item 2.03   Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information contained in Item 1.01 of this Form 8-K is incorporated by reference into this Item 2.03.

 


Table of Contents

SIGNATURE
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 thereunto duly authorized.
         
  FIRST COMMUNITY BANCSHARES, INC.
 
 
Date: June 4, 2008  By:   /s/ David D. Brown    
    David D. Brown   
    Chief Financial Officer   

 

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