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): June 4, 2014
LAPORTE BANCORP, INC.
(Exact Name of Registrant as Specified in Charter)
| Maryland | 001-35684 | 35-2456698 | ||
(State or Other Jurisdiction of Incorporation) | (Commission File No.) | (I.R.S. Employer Identification No.) | ||
| 710 Indiana Avenue, LaPorte, Indiana | 46350 | |
| (Address of Principal Executive Offices) | (Zip Code) | |
| Registrant’s telephone number, including area code: | (219) 362-7511 | |
(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 (see General Instruction A.2. below):
[ ] 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 June 4, 2014, the Board of Directors of LaPorte Bancorp, Inc. (the “Company”) approved a plan to repurchase an additional 145,000 shares, or approximately 2.5%, of the Company’s common stock. The repurchases may be carried out through open market purchases, block trades, and negotiated private transactions. Open market purchases are intended to be conducted in accordance with the limitations set forth in Rule 10b-18 of the Securities Exchange Act of 1934. In addition, the Company may enter into an agreement to have its shares repurchased pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934. The common stock may be repurchased on an ongoing basis and will be subject to the availability of stock, general market conditions, trading price of the stock, alternative uses for capital, and the Company’s financial performance.
On June 4, 2014, the Company announced the completion of its second stock repurchase program for 150,000 shares, or approximately 2.5%, of its common stock which were repurchased by the Company at an average cost per share of $10.95.
At June 4, 2014, there were 5,771,360 shares of the Company’s common stock outstanding.
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.
LAPORTE BANCORP, INC. | ||
| DATE: June 5, 2014 | By: | /s/ Michele M. Thompson |
| Michele M. Thompson | ||
| President and Chief Financial Officer | ||