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 7, 2008 |
CIB Marine Bancshares, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
| | | |
| Wisconsin | 000-24149 | 37-1203599 |
_____________________
(State or other jurisdiction | _____________
(Commission | ______________
(I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
| | | |
| N27 W24025 Paul Court, Pewaukee, Wisconsin | | 53072 |
_________________________________
(Address of principal executive offices) | | ___________
(Zip Code) |
| | | |
| Registrant’s telephone number, including area code: | | 262-695-6010 |
Not Applicable
______________________________________________
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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 7, 2008, the registrant's Board of Directors announced that Edwin J. Depenbrok was appointed Senior Vice President and Chief Financial Officer. Mr. Depenbrok succeeds Mr. Steven T. Klitzing, who resigned from all positions with the registrant on November 14, 2007. A copy of a press release announcing the appointment is furnished herewith as Exhibit 99.1. Mr. Depenbrok will serve as a non-employee executive officer of the registrant, and will be compensated at a rate of $1,200.00 per day, up to 125 work days per year, plus reimbursement of out-of-pocket expenses. A copy of Mr. Depenbrok’s agreement with the registrant is filed herewith as Exhibit 99.2.
The registrant initially hired Mr. Depenbrok, via his firm, dbrok group, LLC, in February 2007 as a consultant to provide various financial management services. In 2001, Mr. Depenbrok formed dbrok group, LLC to provide finance and treasury management services to community banks. Mr. Depenbrok’s financial experience include s over thirty years of banking finance and operations experience, including fourteen years in senior management positions at Bank One including Chief Financial Officer of Bank One’s Retail Banking segment.
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.
| | | | | |
| | | CIB Marine Bancshares, Inc. |
| | | | | |
| January 7, 2008 | | By: | | John P. Hickey, Jr.
|
| | | | |
|
| | | | | Name: John P. Hickey, Jr. |
| | | | | Title: President and CEO |
Exhibit Index
| | | |
| Exhibit No. | | Description |
| |
|
99.1 | | Press Release issued January 7, 2008 |
99.2 | | Services Agreement |
