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 Act of 1934
Date of Report (Date of earliest event reported) September 26, 2001
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CAVALRY BANCORP, INC.
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(exact name of registrant as specified in its charter)
Tennessee 0-23605 62-1721072
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(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
114 West College Street, Murfreesboro, Tennessee 37130
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including are code (615) 893-1234
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Not Applicable
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(Former name or former address, if changed since last report)
Item 5. Other Events
Cavalry Bancorp, Inc. announced on September 26, 2001, that it plans to
implement a program to repurchase 710,480 shares or approximately 10% of its 7.1
million outstanding shares.
The press release concerning the announcement of this event is incorporated
herein by reference and is included as Exhibit 99(a) to this Form 8-K.
Item 7. Exhibits
99. Exhibits
(a) Press Release of the Company Dated September 26, 2001
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.
CAVALRY BANCORP, INC.
Date: September 26, 2001 By: /s/Ronald F. Knight
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Ronald F. Knight
President and Chief Operating
Officer
Date: September 26, 2001 By: /s/Hillard C. Gardner
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Hillard C. Gardner
Senior Vice President and
Chief Financial Officer
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EXHIBIT 99(a) Press Release
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***FOR IMMEDIATE RELEASE***
Contact:
William S. Jones
Executive Vice President
and Chief Administrative Officer
615-849-2272
CAVALRY BANCORP, INC. ANNOUNCES
STOCK REPURCHASE PROGRAM
Murfreesboro, Tennessee - September 26, 2001 -- Cavalry Bancorp, Inc. (the
"Company") (NASDAQ/NMS: CAVB) announced today that it plans to implement a
program to repurchase 710,480 shares or approximately 10% of its 7.1 million
shares outstanding. At June 30, 2001, Cavalry Bancorp, Inc. had assets of
$399.4 million and stockholder's equity of $46.4 million.
Pursuant to the stock repurchase program shares will be purchased by Cavalry
Bancorp, Inc. from time to time, depending upon market conditions, in open
market transactions until such time as 710,480 shares have been repurchased.
Ed C. Loughry Jr., Chairman and Chief Executive Officer of Cavalry Bancorp Inc.,
commented "While Cavalry Bancorp Inc. continues to effectively utilized its
capital base to support the expansion of its community oriented banking
franchise, we believe repurchasing shares is one of the least risky ways a bank
can deploy excess capital while improving earnings ratios."
Cavalry Bancorp, Inc., is the holding company for Cavalry Banking, which
operates nine full-service offices in Rutherford and Bedford Counties of
Tennessee.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995:
The statements contained in this release which are not historical facts contain
forward looking information with respect to plans, projections or future
performance of the Company, the occurrence of which involve certain risks and
uncertainties detailed in the Company's filings with the Securities and Exchange
Commission.
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