SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
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): April 20, 2000
-------------------
(April 19, 2000)
-------------------
SUN COMMUNITY BANCORP LIMITED
------------------------------------------------------
(Exact name of Registrant as specified in its charter)
Arizona 000-26191 86-0878747
- --------------- ------------ ----------------------
(State or other (Commission (IRS Employer
jurisdiction of file number) identification number)
incorporation)
2777 East Camelback Road
Suite 101
Phoenix, Arizona 85016
----------------------------------------
(address of principal executive offices)
(602) 955-6100
----------------------------------------------------
(registrant's telephone number, including area code)
Not Applicable
-------------------------------------------------------------
(former name or former address, if changed since last report)
Page 1 of 3
ITEM 5. OTHER EVENTS.
Registrant, at its option, is reporting the following matter which it considers
to be of importance to security holders:
On April 20, 2000, Sun Community Bancorp announced its plans to purchase up
to $3 million of its common stock in open-market purchases during the next
several months. The shares to be purchased may be retained as treasury
shares, retired, used for implementation of an employee stock ownership
plan or other business purposes. To the extent such share purchases are
made, they will have also have the impact of increasing the percentage
ownership of Sun by Capitol Bancorp Ltd., which currently owns 51% of Sun's
common stock. The share purchase program will be funded from Sun's existing
resources, principally short-term loans and investments.
Page 2 of 3
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.
SUN COMMUNITY BANCORP LIMITED
(Registrant)
/s/ Joseph D. Reid
-------------------------------------
Joseph D. Reid, Chairman and
Chief Executive Officer
DATED: April 20, 2000
Page 3 of 3