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
FEBRUARY 19, 1999
------------------------------
(Date of earliest event reported)
Commission file number: 333-17227
Vermilion Bancorp, Inc.
- ----------------------------------------------------------------------
(Exact name of small business issuer as specified in its charter)
Delaware 37-1363755
- --------------------------------- -----------------------------
(State or other jurisdiction of (IRS Employer Identification
incorporation or organization) Number)
714 North Vermilion Street, Danville, Illinois 61832
- -----------------------------------------------------------------
(Address of principal executive offices)
(217) 442-0270
- -----------------------------------------------------------------
(Issuer's telephone number)
Not Applicable
- -----------------------------------------------------------------
(Former name, former address and former fiscal year, if changed
since last report)
Item 5. Other Events
On February 19, 1999, Vermilion Bancorp, Inc. (the "Company") announced
that the Board of Directors has authorized the repurchase of up to 15,870
shares or 4 percent, of the outstanding common stock of the Company. For
additional information, reference is made to the Press Realease, February 19,
1999, which is attached hereto as Exhibits 99 and is incorporated herein
by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements.
Not Applicable.
(b) Pro Forma Financial Information.
Not Applicable.
(c) Exhibits:
99 Press Release dated February 19, 1999
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Vermilion Bancorp, Inc.
Date: February 19, 1999 By: /s/Merrill Norton
-------------------
Merrill G. Norton
President/CEO
Exhibit 99
PRESS RELEASE
VERMILION BANCORP, INC. ANNOUNCES THE INITIATION OF
OPEN MARKET STOCK PURCHASES TO FUND THEIR
MANAGEMENT RECOGNITION AND RETENTION PLAN
Danville, Illinois - February 19, 1999 - The Board of
Directors of Vermilion Bancorp, Inc. (Electronic BB: VBAS)
(the "Company") is announcing the initiation of open market
stock purchases to fund the 1998 Recognition and Retention
plan approved in 1998 at the regular annual meeting of the
stockholders. Vermilion Bancorp, Inc. will make open market
purchases with funds of the Company. Purchases will be made
from time to time at the discretion of management in
compliance with the Board of Directors instructions with a
maximum purchase for the plan of 15,870 shares of the Company
common stock.
Vermilion Bancorp, Inc. is the holding company for AMERICAN
SAVINGS BANK OF DANVILLE which operates two full service
community banking facilities in Danville, Illinois.
At December 31, 1998 the Company had total assets of 44.3
million dollars and stockholder's equity of 6.4 million dollars.
Contact:
Merrill Norton, President
(217) 442-0270
Fax (217) 442-0271
