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): December 8, 2011
INTERVEST BANCSHARES CORPORATION
(Exact Name of Registrant as Specified in Charter)
| | | | |
| Delaware | | 000-23377 | | 13-3699013 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (IRS Employer Identification Number) |
| | | | |
| 1 Rockefeller Plaza, Suite 400 New York, New York | | 10020-2002 |
| (Address of Principal Executive Offices) | | (Zip Code) |
Registrant’s Telephone Number Including Area Code: (212) 218-2800
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)) |
Section 5 – Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On December 8, 2011, the Board of Directors of Intervest Bancshares Corporation (the “Company”), upon the recommendation of its Compensation Committee, approved increases in the annual salaries of the Company’s executive officers as follows:
| | | | | | | | |
Name and Title | | Prior Salary | | | New Salary | |
| | |
Keith A. Olsen | | $ | 367,500 | | | $ | 495,000 | |
President, Intervest National Bank | | | | | | | | |
| | |
Stephen A. Helman | | $ | 254,800 | | | $ | 270,000 | |
Vice President | | | | | | | | |
| | |
John J. Arvonio | | $ | 234,000 | | | $ | 250,000 | |
Chief Financial Officer | | | | | | | | |
| | |
John H. Hoffmann | | $ | 143,170 | | | $ | 145,670 | |
Vice President | | | | | | | | |
The increases become effective January 1, 2012.
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 thereunto duly authorized.
| | | | | | |
| | | | INTERVEST BANCSHARES CORPORATION |
| | | |
| Date: December 12, 2011 | | | | By: | | /s/ Lowell S. Dansker |
| | | | | | Lowell S. Dansker, |
| | | | | | Chairman and Chief Executive Officer |
| | | | | | (Principal Executive Officer) |
