HAMPTON ROADS BANKSHARES 8-K 2012
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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On April 30, 2012, Hampton Roads Bankshares, Inc. (the “Company”) announced that its subsidiary, The Bank of Hampton Roads (the “Bank”), has entered into a purchase and assumption agreement, dated April 27, 2012, (the “Purchase Agreement”) with Bank of North Carolina, a subsidiary of BNC Bancorp, (“BNCN”) whereby BNCN will purchase all deposits and selected assets associated with Gateway Bank branches in Preston Corners and Chapel Hill, North Carolina.
The consummation of the transaction is subject to a number of conditions, including receipt of necessary regulatory approvals.
The foregoing summary of the Purchase Agreement is not complete and is qualified in its entirety by reference to the full text of the Purchase Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated by reference herein.
On April 30, 2012, the Company issued a press release announcing that the Bank has entered into the Purchase Agreement described under Item 1.01 of this Current Report on Form 8-K and announcing its plan to consolidate its remaining Raleigh, NC branches. The Company expects that this transaction will be completed in the third quarter of 2012, subject to regulatory approval and other customary closing conditions.
A copy of the press release making such announcement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
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.