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): November 24, 2009
FOUR OAKS FINCORP, INC.
(Exact name of registrant as specified in its charter)
North Carolina 000-22787 56-2028446
(State or other jurisdiction (Commission File (I.R.S. Employer
of incorporation) Number) Identification Number)
6114 U.S. 301 South
Four Oaks, North Carolina 27524
(Address of principal executive offices) (Zip Code)
(919) 963-2177
Registrant's telephone number, including area code
N/A
(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 1.01 Entry into a Material Definitive Agreement.
On November 24, 2009, Four Oaks Fincorp, Inc. (the "Company"), its wholly-owned
subsidiary, Four Oaks Bank & Trust Company (the "Bank"), and Nuestro Banco
("Nuestro") entered into an amendment (the "Second Amendment") to the definitive
merger agreement, dated as of April 29, 2009 by and among the Company, the Bank,
and Nuestro (the "Merger Agreement"), pursuant to which Nuestro will merge with
and into the Bank.
The Second Amendment amends Section 9.1(c) of the Merger Agreement in order to
change the date upon which the Company and the Bank, on the one hand, or
Nuestro, on the other hand, may terminate the Merger Agreement from November 30,
2009 to December 31, 2009. This description of the Second Amendment is qualified
in its entirety by reference to the Second Amendment, which is attached hereto
as Exhibit 2.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description of Exhibit
2.1 Second Amendment to Merger Agreement, dated as of
November 24, 2009, by and among Four Oaks Fincorp,
Inc., Four Oaks Bank & Trust Company and Nuestro
Banco
SIGNATURE
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.
FOUR OAKS FINCORP, INC.
By: /s/ Nancy S. Wise
--------------------------------
Nancy S. Wise
Executive Vice President,
Chief Financial Officer
Date: November 30, 2009
EXHIBIT INDEX
Exhibit No. Description of Exhibit
2.1 Second Amendment to Merger Agreement, dated as of
November 24, 2009, by and among Four Oaks Fincorp,
Inc., Four Oaks Bank & Trust Company and Nuestro
Banco