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): MAY 18, 1999
ANNAPOLIS NATIONAL BANCORP, INC.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
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<S> <C> <C> <C>
MARYLAND 000-22961 521648903
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(STATE OR OTHER JURISDICTION OF (COMMISSION FILE NO.) (I.R.S. EMPLOYER IDENTIFICATION NO.)
INCORPORATION)
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180 ADMIRAL COCHRANE DRIVE SUITE 300, 21401
ANNAPOLIS, MARYLAND -----
------------------- (ZIP CODE)
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (410) 224-4455
NOT APPLICABLE
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(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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ITEM 5. OTHER EVENTS.
The Registrant has determined that it needs to increase its allowance for loan
losses as of March 31, 1999. The increase will likely result in a decrease to
previously reported earnings for the first quarter, and may also impact
financial results from prior periods. Accordingly, adjustments to previously
reported information on the Registrant's financial condition and results of
operations will be forthcoming. Management of the Registrant has not fully
determined the extent of the required adjustments, and therefore was unable to
file the Form 10-Q for the fiscal quarter ended March 31, 1999 on the due date.
A press release regarding the announcement is attached as Exhibit 99.
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ITEM 7. FINAL STATEMENTS, PRO FORMA FINAL INFORMATION AND EXHIBITS.
(c) Exhibits
Exhibit 99. Press Release
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.
Date: May 18, 1999 Annapolis National Bancorp, Inc.
By: /s/ Richard M. Lerner
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Richard M. Lerner,
Chief Executive Officer
3
EXHIBIT 99.
Annapolis National Bancorp, Inc. [LOGO]
P.O. Box 2279 Annapolis, Maryland 21404-2279
Local: 410-224-4455 * Balt: 410-974-6300 * Wash: 301-970-8282
ANNAPOLIS NATIONAL BANCORP, INC.
DELAYS FILING FORM 10-Q
***FOR IMMEDIATE RELEASE***
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Annapolis, MD, May 18, 1999 - On April 19, 1999, Annapolis National
Bancorp, Inc. announced results for the first quarter ended March 31, 1999. The
Company has now determined that it needs to increase its allowance for loan
losses as of March 31, 1999. The increase will likely result in a decrease to
previously reported earnings for the first quarter, and may also impact
financial results from prior periods. Accordingly, adjustments to previously
reported information on the Company's financial condition and results of
operations will be forthcoming. Management of the Company has not fully
determined the extent of the required adjustments, and therefore was unable to
file the Form 10-Q for the fiscal quarter ended March 31, 1999 on the due date.
The Company plans no further announcements on this subject until it has
determined the appropriate adjustments.
The Company's previously declared cash dividend of one-cent per share
was paid as scheduled on May 14, 1999.
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Company contact:
Richard M. Lerner, Chairman and Chief Executive Officer
Annapolis National Bancorp, Inc. @ at (410) 224-4455.
