Monarch Community Bancorp 8-K 2010
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): July 16, 2010 (July 13, 2010)
Monarch Community Bancorp, Inc.
(Exact name of registrant as specified in its charter)
375 North Willowbrook Road, Coldwater, MI 49036
(Address of principal executive offices) (Zip Code)
(Registrants 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:
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
On July 13, 2010, the board of directors of Monarch Community Bancorp, Inc. (the Company) approved the appointment of Richard J. DeVries as president and chief executive officer of the Company and Monarch Community Bank (the Bank). Mr. DeVries employment is effective immediately, however, his appointment is subject to approval of the Federal Deposit Insurance Corporation, the Michigan Office of Financial and Insurance Regulation, and the Federal Reserve. Mr. DeVries will also serve as a director of the Company and the Bank.
Mr. DeVries most recently served as president and chief executive officer of Pavilion Bancorp, Inc. and its subsidiary bank, the Bank of Lenawee, in Adrian, Michigan. The terms of Mr. DeVries employment are set forth on the Employment Term Sheet attached hereto as Exhibit 10.1 and incorporated herein by reference.
The Companys press release dated July 15, 2010 is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
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.