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): January 22, 2007
ES BANCSHARES, INC.
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(Exact Name of Registrant as Specified in its Charter)
Maryland 000-52178 20-4663714
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(State or Other Jurisdiction) (Commission File No.) (I.R.S. Employer
of Incorporation) Identification No.)
68 North Plank Road, Newburgh, New York 12550
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (845) 561-0003
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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 (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))
Item 1.01. Entry into a Material Definitive Agreement
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On January 22, 2007, Mr. Joseph Macchia began as Senior Vice President,
Retail Banking/Operations of ES Bancshares, Inc. (the "Company") and the
Company's wholly owned subsidiary, Empire State Bank, N.A. (the "Bank").
Previously, beginning in 2002, Mr. Macchia served as Senior Vice President and
Chief Operating Officer of Sleepy Hollow Bank in Sleepy Hollow, New York. Prior
to his experience at Sleepy Hollow Bank, Mr. Macchia served as Senior Vice
President, Secretary and Chief Operating Officer of Yonkers Savings and Loan
Association in Yonkers, New York.
Under the terms of the three-year employment agreement, the initial base
salaries for Mr. Macchia is $104,000. In addition to the base salary, the
agreement provides for, among other things, participation in bonus programs and
other employee pension benefit and fringe benefit plans applicable to executive
employees. Mr. Macchia's employment may be terminated for cause at any time, in
which event he would have no right to receive compensation or other benefits for
any period after termination.
"We are excited about adding Mr. Macchia as a Senior Vice President, he
brings excellent experience and expertise to our team," said Anthony Costa,
Chairman and Chief Executive Officer of the Company.
Item 9.01. Financial Statements and Exhibits.
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(a) Financial Statements of Business Acquired. Not Applicable.
(b) Pro Forma Financial Information. Not Applicable
(c) Shell Company Transactions. Not Applicable.
(d) Exhibits.
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.
ES BANCSHARES, INC.
DATE: January 24, 2007 By: /s/ Anthony P. Costa
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Anthony P. Costa
Chairman and Chief Executive Officer