HopFed Bancorp 8-K 2011
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 7, 2011
HOPFED BANCORP, INC.
(Exact name of Registrant as Specified in Charter)
4155 Lafayette Road, Hopkinsville, Kentucky 42240
(Address of Principal Executive Offices)
Registrants telephone number, including area code
(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:
On December 7, 2011, the Registrant announced the appointment of P. Michael Foley III, as Senior Vice President, Chief Credit Officer of Heritage Bank (the Bank) effective December 15, 2011. Since January 2011, Mr. Foley, 39, has served as a Senior Vice President, Senior Credit Office in the Special Assets Group of Old National Bank of Evansville, Indiana. From July 2006 through December 2010, Mr. Foley served as Senior Vice President, Senior Credit Office and Chicago Market Manager for Integra Bank NA of Evansville, Indiana.
The Registrant has appointed Senior Vice President Mike Stalls to a Senior Commercial Lending Officer of the Bank for Christian, Todd and Trigg counties in Kentucky. Mr. Stalls previously served as the Banks Chief Credit Officer.
On December 6, 2011, the Bank entered into an employment agreement with Mr. Foley which provides for a base salary of $170,000 per annum. Mr. Foley may participate with other members of senior management in discretionary bonuses and in any fringe benefits that may become available and are commensurate with the responsibilities and functions to be performed by Mr. Foley.
The employment agreement is for a three year term ending December 14, 2014. The employment agreement provides for a full payment of the employees base salary in the event of a change of control of the Registrant (as defined in the agreement), subject to certain limitations, including those required as a result of the Registrants participation in the United States Treasury Capital Purchase Plan. The employment agreement may be extended for an additional term of one-year period beyond the then applicable expiration date by the Board of Directors.
A copy of Mr. Foleys employment agreement with the Bank is attached hereto as Exhibit 10.1.
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.