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
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| Date of Report (Date of Earliest Event Reported): | | April 24, 2007 |
EvergreenBancorp, Inc.
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(Exact name of registrant as specified in its charter)
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| Washington | 000-32915 | 91-2097262 |
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(State or other jurisdiction | _____________
(Commission | ______________
(I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
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| 301 Eastlake Avenue East, Seattle, Washington | | 98109 |
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(Address of principal executive offices) | | ___________
(Zip Code) |
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| Registrant’s telephone number, including area code: | | 206 628 4250 |
Not Applicable
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Former name or former address, if changed since last report
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 240.13e-4(c))
Item 8.01 Other Events.
On April 24, 2007, EvergreenBancorp, Inc. a Washington corporation ("Registrant"), issued a press release announcing that it recently completed the sale of $5 million in capital securities representing preferred beneficial interests in EvergreenBancorp Statutory Trust III, a Delaware unconsolidated special purpose business trust (the "Trust") formed by the Registrant for the purpose of facilitating the offering. The securities were sold in a pool offering that closed on April 13, 2007.
The Trust preferred securities, which are due June 15, 2037, have a floating rate of interest that is reset quarterly, equal to 3-month LIBOR, plus 1.65%.
Net proceeds from the trust preferred issuance will be used by the Registrant to call certain trust preferred securities issued in May 2002. The Registrant intends to call $5 million of junior subordinated debentures and concurrently redeem related trust preferred securities issued to the public.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 Registrant’s Press Release dated April 24, 2007
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.
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| | | EvergreenBancorp, Inc. |
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| April 24, 2007 | | By: | | Gordon D. Browning
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| | | | | Name: Gordon D. Browning |
| | | | | Title: Executive VP & CFO |
Exhibit Index
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| Exhibit No. | | Description |
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99.1 | | Registrant’s Press Release dated April 24, 2007 |
