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): June 25, 2004
MONADNOCK COMMUNITY BANCORP, INC.
(Exact Name of Registrant as Specified in Charter)
Federal 000-50810 42-1634975
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(State or Other Jurisdiction) (Commission File No.) (I.R.S. Employer
of Incorporation) Identification No.)
One Jaffrey Road, Peterborough, NH 03458
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (603) 924-9654
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Not Applicable
(Former name or former address, if changed since last report)
Items 5. Other Events
On June 25, 2004, Monadnock Community Bancorp, Inc. (the "Registrant")
issued a press release reporting that it expected to complete its initial stock
offering on June 28, 2004. The Registrant sold 422,834 shares of common stock
at $8.00 per share in a subscription offering. In addition, the Registrant
issued 516,797 shares to Monadnock Mutual Holding Company. The shares of the
Registrant will trade on the OTC Bulletin Board under the symbol "MNCK."
Item 7. Financial Statements and Exhibits
(c) Exhibits.
Exhibit No. Description
99 Press release dated June 25, 2004
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.
MONANDOCK COMMUNITY BANCORP, INC.
DATE: June 28, 2004 By:/s/ William M. Pierce, Jr.
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William M. Pierce, Jr.
President and Chief Executive Officer
EXHIBIT INDEX
The following exhibit is filed as part of this report:
Exhibit No. Description
99 Press release dated June 25, 2004
PRESS RELEASE
For more information FOR IMMEDIATE RELEASE
contact: William M. Pierce, Jr. Peterborough, New Hampshire
President and Chief Executive Officer June 25, 2004
(603) 924-9654
MONADNOCK COMMUNITY BANCORP, INC. ANNOUNCES UPCOMING CLOSING OF
MUTUAL HOLDING COMPANY REORGANIZATION AND STOCK OFFERING
PETERBOROUGH, NEW HAMPSHIRE June 25, 2004 - The Board of Directors of
Monadnock Community Bank announced today that the Bank's mutual holding company
reorganization and the related subscription and community stock offering of
shares of Monadnock Community Bancorp, Inc. stock are scheduled to close on
June 28, 2004. Trading is expected to commence on Tuesday, June 29, 2004.
Monadnock Community Bancorp, Inc., sold 422,834 shares of common stock at $8.00
per share. The shares will trade on the OTC Bulletin Board under the symbol
"MNCK." William M. Pierce, President and Chief Executive Officer of the Bank
said, "We are pleased by the outstanding support shown by the depositors of the
Bank, who voted to approve our plan of reorganization, and we appreciated the
confidence shown by customers who participated in our stock offering. We look
forward to providing them with the kind of service and products they have come
to expect from our Bank. We intend to use the proceeds of the offering to
enhance our ability to continue and improve our service to the community by
expanding our products and building our franchise and presence."
Upon the closing, which has received final regulatory approval, the
Bank will convert from a mutual savings bank to a capital stock savings bank,
with the concurrent formation of Monadnock Community Bancorp, Inc. as the stock
holding company of the Bank and the formation of Monadnock Mutual Holding
Company as a mutual holding company. Public stockholders and the company's
employee stock ownership plan will own the shares sold in the offering, which
will represent 45% of Monadnock Community Bancorp, Inc.'s outstanding shares.
The mutual holding company will own the remainder of the outstanding shares.
The stock offering period ended on June 10, 2004. Ryan Beck & Co.,
Inc. served as financial advisor and marketing agent with regard to the
offering. Luse Gorman Pomerenk & Schick, P.C. served as counsel to Monadnock
Community Bank.
The Bank and the holding companies are headquartered in Peterborough,
New Hampshire, and normal business will be conducted without interruption at
the Bank's office. The existing board of directors will serve all three
entities.
At March 31, 2004, Monadnock Community Bank had total assets of
approximately $44.8 million, deposits of $33.6 million and total equity of $2.5
million.
This news release contains certain forward-looking statements about
the proposed stock issuance by Monadnock Community Bancorp, Inc. These include
statements regarding the proposed offering and the anticipated consummation
date of the transaction.
Forward-looking statements can be identified by the fact that they do not
relate strictly to historical or current facts. They often include words like
"believe," "expect," "anticipate," "estimate" and "intend" or future or
conditional verbs such as "will," "would," "should," "could" or "may." Certain
factors that could cause actual results to differ materially from expected
results include delays in completing the offering, changes in the interest rate
environment, changes in general economic conditions, legislative and regulatory
changes that adversely affect the business of the Bank and changes in the
securities markets.