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, 2013
CENTRAL VALLEY COMMUNITY BANCORP
(Exact Name of Registrant as Specified in Charter)
California | 000-31977 | 77-0539125 | ||
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||
7100 N. Financial Dr., Suite 101, Fresno, CA | 93720 | |||
(Address of Principal Executive Offices) | (Zip Code) | |||
Registrant’s telephone number, including area code: (559) 298-1775
(Former Name or Former Address, if Changed Since Last Report) Not Applicable
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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))
Item 1.02 Termination of Material Definitive Agreement
On December 31, 2013, Central Valley Community Bancorp (the “Company”) redeemed all 7,000 outstanding shares of its Senior Non-Cumulative Perpetual Preferred Stock, Series C (“Series C Preferred”) from the U.S. Department of Treasury (“UST”), in exercise of its optional redemption rights pursuant to the terms of the Series C Preferred under the Company’s charter and the August 18, 2011 Stock Purchase Agreement (“SPA”) by and between UST and the Company. The Company paid UST $7,087,500 in connection with the redemption, representing $1,000 per share of the Series C Preferred plus all accrued and unpaid dividends through the date of the redemption. The obligations of the Company under the SPA are terminated as a result of the redemption. The shares were originally issued as part of the Company’s participation in the UST’s Small Business Lending Fund program. No additional shares of Series C Preferred are outstanding.
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.
Central Valley Community Bancorp | ||
Date: December 31, 2013 | By: | /s/ Daniel J. Doyle |
Name: | Daniel J. Doyle | |
Title: | President and Chief Executive Officer (principal executive officer) | |