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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of report (Date of earliest event reported) July 12, 1998
SUCCESS BANCSHARES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-23235 36-34976644
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(State or other jurisdiction (Commission File Number) (I.R.S. Employee
of incorporation) Identification Number)
One Marriott Drive, 60069
Lincolnshire, Illinois
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(Address of principal executive offices) (Zip Code)
(847) 634-4200
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(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
Success Bancshares, Inc. (the "Company") has announced, with regret,
the unexpected death of Saul D. Binder, President and Chief Executive Officer
of the Company and its majority owned subsidiary, Success National Bank (the
"Bank"). The Company has also announced the appointments of Christa N.
Calabrese, who will maintain her titles as Executive Vice President and Chief
Lending Officer of the Bank, as interim Chief Operating Officer of the Company
and the Bank and of Sherwin Koopmans, a director of the Company, as interim
Chairman of the Executive Committee of the Company and the Bank. Copies of the
press releases issued by the Company with respect to such matters are attached
hereto as Exhibits 99.1 and 99.2 and are incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements of business acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
(c) Exhibits
99.1 Press Release, issued on July 13, 1998, of Success Bancshares,
Inc.
99.2 Press Release, issued on July 15, 1998, of Success Bancshares,
Inc.
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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.
SUCCESS BANCSHARES, INC.
Date: July 17, 1998
By: /s/ Christa N. Calabrese
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Name: Christa N. Calabrese
Title: Chief Operating Officer
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EXHIBIT INDEX
Exhibt Number Description
99.1 Press Release, issued on July 13, 1998, of Success Bancshares,
Inc.
99.2 Press Release, issued on July 15, 1998, of Success Bancshares,
Inc.
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Exhibit 99.1
Success Bancshares, Inc.
Announces Death of President and Chief Executive Officer
Saul D. Binder
(Chicago, IL -- July 13, 1998) -- Saul D. Binder, President and Chief Executive
Officer of Success Bancshares, Inc., died suddenly on Sunday, July 12. He was
58 years old.
Success plans to hold a special board of directors' meeting today to determine
a successor.
Success Bancshares, Inc. provides community banking services to individuals and
small-to-medium sized businesses primarily in the north and northwest suburbs
of Chicago and the north side of Chicago. The Company is traded on the Nasdaq
National Market System under the symbol "SXNB."
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Exhibit 99.2
Success Bancshares, Inc.
Announces Appointment of Interim
Chief Operating Officer and Executive Commitee Chairman
(Chicago, IL -- July 15, 1998) -- Success Bancshares, Inc. has announced two
appointments, effective immediately, to its management in the wake of the
sudden death of Saul D. Binder, President and Chief Executive Officer of
Success Bancshares and its majority owned subsidiary, Success National Bank.
Christa N. Calabrese has been appointed interim Chief Operating Officer of
Success Bancshares and the Bank. Ms. Calabrese has served as Executive Vice
President of the Bank since October 1997 and as Chief Lending Officer of the
Bank since 1992, which titles she will maintain while serving as interim
Chief Operating Officer. She also served as Senior Vice President of the Bank
from 1992 to October 1997. Prior to joining the Bank, Ms. Calabrese served for
two years as an Asset Specialist with the Resolution Trust Corporation and,
from 1969 through 1990, held commercial lending positions with various local
community banks.
Sherwin Koopmans has been appointed Chairman of the Executive Committee of
Success Bancshares and the Bank. Mr. Koopmans, who has served as a director of
Success Bancshares since 1997, will assume full time responsibility for
administrative and regulatory functions at the Bank on an interim basis. Mr.
Koopmans has significant experience in the bank regulatory arena, having served
in the past as the Associate Director of the Division of Depository and Assets
Services for the Federal Deposit Insurance Corporation and as the Regional
Director and Vice President for Resolution of the Resolution Trust Corporation.
Under the guidance of Mr. Binder, the Bank grew from one branch with $10
million in assets in 1982 to over $400 million in assets with 9 branches in
addition to its headquarters, all located in the northern Chicagoland area.
Five additional branches are scheduled to open in 1998.
Success Bancshares affirms its continuing commitment to current expansion plans
for the Bank and to the vision established by Mr. Binder for the Bank as a
community bank stressing personalized service, local decision making, quick
response to customers and strong relationships with business, civic and
community organizations.
Success Bancshares, Inc. provides community banking services through ten
locations to individuals and small-to-medium sized businesses primarily in the
north and northwest suburbs of Chicago and the north side of Chicago. The
Company is traded on the Nasdaq National Market System under the symbol "SXNB"
and can be reached at its web page: http://www.successbank.com.
