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): January 20,
2011
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Western
Reserve Bancorp, Inc.
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(Exact
name of registrant as specified in its
charter)
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Ohio
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000-51264
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31-1566623
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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4015
Medina Road, Medina, Ohio
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44256
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: 330-764-3131
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(Former
name or former address, if changed since last
report.)
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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 (see General Instruction A.2. below):
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))
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Item
5.02.
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Departure
of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain
Officers
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On
January 20, 2011, Dr. Bijay K. Jayaswal submitted notice of his retirement,
effective immediately following today’s Board meeting, from the Boards of
Directors and the Executive Committee of Western Reserve Bancorp, Inc. (the
“Company”) and its subsidiary, Western Reserve Bank (the “Bank”).
The
Western Reserve Bancorp, Inc. and Western Reserve Bank Policy Concerning
Retirement Age for Members of the Board of Directors states that a director
“shall submit his or her resignation from the Board of Directors of both the
Company and the Bank and any and all committees on which they serve at the next
meeting of the Board of Directors of the Company or the Bank immediately after
they have reached the age of seventy-two (72).”
Dr.
Jayaswal celebrated his 72nd
birthday on January 9, 2011. The Board of Directors expresses their
gratitude to Dr. Jayaswal, a founding director, for his more than thirteen years
of service to the Company and the Bank.
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 hereunto authorized.
| Date: January 20, 2011 | Western Reserve Bancorp, Inc. | ||
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By:
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/s/ Cynthia A. Mahl | |
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Cynthia
A. Mahl, Executive Vice President
and
Chief Financial Officer
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