UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934 (Amendment No. )
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Croghan Bancshares, Inc.
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement if other than the Registrant)
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CROGHAN BANCSHARES, INC.
323 CROGHAN STREET
FREMONT, OHIO 43420
July 27, 2011
NOTICE OF CANCELLATION OF
AUGUST 9, 2011 SPECIAL MEETING OF SHAREHOLDERS
Dear Shareholders:
I am writing to inform you that the Special Meeting of Shareholders (the “Special Meeting”) of Croghan Bancshares, Inc. (“Croghan”), which was scheduled to be held on August 9, 2011, has been cancelled.
As described in the Proxy Statement mailed to shareholders on or about June 28, 2011, the Special Meeting was called for the purpose of considering and voting on a proposal to adopt an amendment to Article FOURTH of Croghan’s Amended Articles of Incorporation (the “Articles”) to authorize Croghan to issue up to 50,000 preferred shares. The primary objective of the proposed amendment to Article FOURTH was to enable Croghan to participate in the Small Business Lending Fund (the “SBLF”) adopted by the United States Department of the Treasury (the “Treasury”) under the Small Business Jobs Act of 2010.
After further review of the SBLF program and Croghan’s potential utilization of the proceeds that would be received under the program, the Board of Directors of Croghan has decided not to participate in the SBLF. As a result, we are in the process of withdrawing the application that we previously submitted to Treasury to participate in the SBLF (which our application was pending as of the date hereof).
Because Croghan will not be participating in the SBLF, the Board of Directors has determined that there is no immediate need to amend the Articles to authorize the issuance of preferred shares. Accordingly, the Board of Directors has cancelled the Special Meeting of Shareholders which was scheduled to be held on August 9, 2011.
We certainly apologize if the cancellation of the Special Meeting has created any inconvenience for you.
Thank you for your continued support of Croghan Bancshares, Inc. and The Croghan Colonial Bank.
| By Order of the Board of Directors, |
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Rick M. Robertson President and Chief Executive Officer |