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 39,675
shares or 10 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 requirements 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.
Dated: February 19, 1999 By: /s/Merrill G. Norton
----------------------
Merrill G. Norton
President/CEO
Exhibit 99
PRESS RELEASE
VERMILION BANCORP, INC. ANNOUNCES THE REPURCHASE OF
UP TO 10% OF THEIR OUTSTANDING SHARES
Danville, Illinois - February 19, 1999 - The Board of Directors of Vermilion
Bancorp, Inc. (Electronic BB: VBAS) (the "Company") is announcing the
repurchase of up to 39,675 shares or ten percent (10%) of the outstanding
common stock of the Company.
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. The
maximum purchase will be 39,675 shares of the Company common stock.
Vermilion Bancorp, Inc. continues to support the growth of AMERICAN SAVINGS
BANK OF DANVILLE with community banking facilities in Danville, Illinois.
The Company's directors think that current valuation of the common stock
makes the repurchase a very sound long-term investment for the Company.
Contact:
Merrill Norton, President
(217) 442-0270
Fax (217) 442-0271
