UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): September 16, 2009
BCSB BANCORP, INC.
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(Exact Name Of Registrant As Specified In Charter)
MARYLAND 0-53163 26-1424764
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(State Or Other Jurisdiction (Commission (IRS Employer
Of Incorporation) File Number) Identification No.)
4111 E. JOPPA ROAD, SUITE 300, BALTIMORE, MARYLAND 21236
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(Address Of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (410) 256-5000
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NOT APPLICABLE
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(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 2.06 MATERIAL IMPAIRMENTS
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On September 16, 2009, the Board of Directors of BCSB Bancorp, Inc.
(the "Company") concluded that during the three months ending September 30,
2009, the Company will record a $2.3 million impairment charge to write off all
goodwill recorded in connection with the Company's 2002 acquisition of WHG
Bancshares Corporation. The goodwill impairment charge is a non-cash adjustment
which has no effect on cash flows, liquidity, tangible capital or regulatory
capital ratios. There will be no tax benefit associated with this charge. The
determination of the impairment followed the Company's annual review of its
goodwill, which was performed by a third party that specializes in these types
of valuations. The goodwill analysis indicated an impairment which was taken
pursuant to generally accepted accounting principles, in particular, Statement
of Financial Accounting Standards No. 142. The impairment is primarily due to
declines in (i) the stock prices of financial institutions comparable to the
Company, and (ii) fair market valuations with respect to mergers and
acquisitions of financial institutions similar to the Company, which occurred
during the goodwill analysis review period. For more information, see the
Company's press release dated September 17, 2009, which is filed as Exhibit 99.1
to this report and incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
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(a) Not applicable.
(b) Not applicable.
(c) Not applicable.
(d) The following exhibit is furnished herewith:
Exhibit 99.1 Press Release dated September 17, 2009
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.
BCSB BANCORP, INC.
Date: September 18, 2009 By: /s/ Joseph J. Bouffard
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Joseph J. Bouffard
President and Chief Executive Officer