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) June 28, 2007
SUSSEX BANCORP
(Exact name of registrant as specified in its charter)
New Jersey | 0-29030 | 22-3475473 |
| (State or other jurisdiction | (Commission | (IRS Employer |
| of incorporation) | File Number) | Identification No.) |
200 Munsonhurst Road | ||
Franklin, New Jersey | 07416 | |
| (Address of principal executive offices) | (Zip Code) | |
Registrant's telephone number, including area code (973) 827-2914
Item 2.03. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
On June 28, 2007, the Registrant, through its subsidiary Sussex Capital Trust II, issued $12.5 million in trust preferred securities on a privately placed basis at a floating rate equal to three-month LIBOR plus 144 basis points. The initial interest rate is 6.80% and is reset quarterly. The Registrant issued a comparable amount of junior subordinated debentures to its subsidiary, and guaranteed the obligations of the subsidiary. The trust preferred securities and debentures mature on September 15, 2037 and are callable any time after September 15, 2012 or upon a change in the tax or regulatory capital treatment of the securities.
-2-
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, Sussex Bancorp, has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
SUSSEX BANCORP | |||
| (Registrant) | |||
| Dated: July 3, 2007 | By: | /s/ Candace A. Leatham | |
CANDACE A. LEATHAM | |||
| Executive Vice President and | |||
| Chief Financial Officer |
-3-