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 AND EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): August 10, 2006
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GREATER ATLANTIC FINANCIAL CORP.
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(Exact name of registrant as specified in its charter)
DELAWARE
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(State or other jurisdiction of incorporation)
0-26467 54-1873112
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(Commission File Number) (IRS Employer
Identification Number)
10700 Parkridge Boulevard, Suite P50 Reston, Virginia 20191
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(Address of Principal Executive Offices) (Zip Code)
(703) 391-1300
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(Registrant's telephone number, including area code)
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
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On August 10, 2006, Greater Atlantic Financial Corp. (the "Company"),
the holding company for Greater Atlantic Bank (the "Bank'), issued a news
release announcing that it intends to file a Form 12b-25 with the Securities and
Exchange Commission (the "SEC") to report that it will be unable to file its
Quarterly Report on Form 10-Q for the period ended June 30, 2006 by the
prescribed August 14, 2006 due date or within the five-day extension period
provided by SEC regulations. The Company is investigating an unreconciled
inter-company account between the Bank and Greater Atlantic Mortgage
Corporation, the Bank's wholly-owned mortgage banking subsidiary that has
terminated operations. The text of the news release is attached as Exhibit 99.1
and is incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
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Exhibit 99.1 News Release dated August 10, 2006.
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.
GREATER ATLANTIC FINANCIAL CORP.
Date: August 10, 2006 By: /s/ Carroll E. Amos
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Carroll E. Amos
President and Chief Executive Officer
Date: August 10, 2006 By: /s/ David E. Ritter
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David E. Ritter
Senior Vice President and Chief
Financial Officer