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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): September 7, 2000
THE BANC CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
0-25033 63-1201350
(Commission File No.) (I.R.S. Employer Identification No.)
17 North 20th Street
Birmingham, Alabama 35203
(Address of Principal Executive Offices)
(205) 326-2265
(Registrant's Telephone Number, Including Area Code)
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Item 5. Other Information
On September 7, 2000, The Banc Corporation, a financial holding
company incorporated under the laws of the State of Delaware (the
"Corporation"), and its subsidiary TBC Capital Statutory Trust II, a
Connecticut statutory trust (the "Trust"), completed a private placement of
capital securities in which the Trust sold 15,646 capital securities with a
liquidation amount of $1,000 per security (the "Capital Securities"). The
Capital Securities are fully and unconditionally guaranteed on a subordinated
basis by the Corporation with respect to distributions and amounts payable upon
liquidation, redemption or repayment pursuant to the Guarantee Agreement
between the Corporation and State Street Bank and Trust Company of Connecticut,
National Association. The Trust used the proceeds of the sale of the Capital
Securities to purchase the junior subordinated Deferrable Interest Debentures
(the "Debt Securities") due 2030 issued by the Corporation. The Corporation
received net proceeds from the transaction of approximately $15,000,000. The
Corporation will use a portion of the proceeds to repay outstanding
indebtedness under its line of credit and to inject capital into its banking
subsidiary, The Bank, and for other general corporate purposes.
Item 7. Financial Statements and Exhibits
(c) Exhibits:
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EXHIBIT
NO. DESCRIPTION
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(99)-1 Press Release, dated September 13, 2000.
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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, thereunto duly authorized.
THE BANC CORPORATION
By /S/ JAMES A. TAYLOR, JR.
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James A. Taylor, Jr.
President and Chief Operating Officer
Dated: October 3, 2000
