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

Date of Report (Date of earliest event reported): December 31, 2010

 

 

PIONEER BANKSHARES, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Virginia   0-30541   54-1278721

(State or other jurisdiction of

incorporation or organization)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

263 East Main Street

P.O. Box 10

Stanley, Virginia 22851

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: (540) 778-2294

 

 

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:

 

¨  

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).

 

¨  

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).

 

¨  

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

 

¨  

Pre commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR

 

 

 


Item 5.02 Departure of Directors of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective December 31, 2010, Louis M. Bosley has retired from the Board of Directors of Pioneer Bankshares, Inc. (the “Company”) and its subsidiary Pioneer Bank. Mr. Bosley was originally elected to the Company’s Board of Directors in 1976. Mr. Bosley’s retirement was primarily related to personal health and medical issues and was not the result of any disagreement with the Company.

The Company’s Board of Directors will consider the appointment of a director to replace Mr. Bosley at their January 13, 2011 board meeting. It is anticipated that Mr. Bosley’s replacement will initially serve on the same committees that Mr. Bosley served on at the time of his resignation, to wit the Asset/Liability Funds Management Committee and Electronic Data Processing/IT Steering Committee.


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 hereunto duly authorized.

 

PIONEER BANKSHARES, INC.
By:  

/s/ THOMAS R. ROSAZZA

      Thomas R. Rosazza
      President and Chief Executive Officer

January 6, 2011