SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report
April 1, 1996
FARMERS CAPITAL BANK CORPORATION
(Exact name of registrant as specified in its charter)
Kentucky
(State of other jurisdiction of incorporation)
0-14412 61-1017851
(Commission File Number) (I.R.S. Employer Identification No.)
P.O. Box 309
Frankfort, Kentucky 40602
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(502)227-1600
Not applicable
(Former name or former address, if changed since last report)
Form 8-K Current Report
ITEM 5. Other Events
On March 28, 1996, Farmers Capital Bank Corporation (the
"Corporation") announced a restructuring of its Board of Directors.
Previously, the Board of Directors of the Corporation was comprised of the
same individuals who served as the directors of the Corporation's lead bank
subsidiary, Farmers Bank & Capital Trust Company ("Farmers Bank"). However,
in recent years, as the Corporation has expanded the scope of its financial
services by acquiring and developing banking and other financial service
affiliates with operations in many other communities across Kentucky, the
Corporation's other subsidiaries have come to account for over 50% of the
Corporation's business.
The restructuring is intended to accomplish several objectives,
including: (1) separation of the management of the Corporation from the
management of Farmers Bank, to enable the Board of Directors of Farmers
Bank to focus on management of the bank and to permit the Corporation's
Board of Directors to focus more on the overall business and affairs of the
Corporation; (2) creation of opportunities for new directors to serve on the
Board of Directors of Farmers Bank; and (3) representation on the
Corporation's Board of Directors of individuals from other communities
served by the Corporation's affiliate banks.
At a meeting of the Corporation's Board of Directors on March 26, 1996,
the By-Laws of the Corporation were amended to increase the size of the Board
of Directors from 10 to 12 members. In addition, recognizing the importance
of this restructuring to the continued growth and success of the Corporation,
the following directors of the Corporation voluntarily submitted their
resignations at that meeting in order to facilitate the restructuring:
Warner U. Hines, John J. Hopkins, Michael M. Sullivan, William R. Sykes and
Joseph C. Yagel. The dedicated service of these gentlemen as directors of
the Corporation is sincerely appreciated. The Corporation will continue to
benefit from their valuable participation in management, as they will remain
members of the Farmers Bank Board of Directors, with Mr. Hopkins serving
as an Advisory Director. Mr. Sykes also will continue to serve as President
and Chief Executive Officer of Farmers Bank, and Mr. Sullivan will continue
as Senior Vice President of FCB Services, Inc.
At the March 26, 1996 Board Meeting, the Board of Directors also
filled the resulting seven vacancies by appointing the following individuals
as directors of the Corporation:
* J. Barry Banker, of Nashville, Tennessee, President of the Stewart
Home School in Frankfort.
* James E. Bondurant, of Hodgenville, Kentucky, District Judge of the
Larue County, Kentucky District Court. Judge Bondurant serves as
Chairman of Board of Directors of First Citizens Bank, a subsidiary
of the Corporation.
* James H. Childers, of Frankfort, Kentucky. Mr. Childers is the
Executive Vice President, Secretary and General Counsel of the
Corporation.
* Mr. Benjamin Crain, of Versailles, Kentucky, President of Fourth
Street Tobacco Warehouses. Mr. Crain serves as Chairman of the Board
of Directors of United Bank & Trust Co., a subsidiary of the Corporation.
* Lloyd C. Hillard, Jr., of Elizabethtown, Kentucky, President and Chief
Executive Officer of First Citizens Bank.
* Harold G. Mays, of Frankfort, Kentucky, President of H.G. Mays
Corporation, an asphalt paving firm.
* Frank W. Sower, Jr., of Fort Thomas, Kentucky, Appeals Officer, Internal
Revenue Service.
Each of these new directors has been appointed to serve until the next
Annual Meeting of Shareholders of the Corporation, which will be held on
May 14, 1996. At the Annual Meeting each new director will be nominated for
election to a term on the Board of Directors.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused the report to be signed on its behalf by the
undersigned hereunto duly authorized.
FARMERS CAPITAL BANK CORPORATION
April 1, 1996 By Charles S. Boyd
Charles S. Boyd
President and CEO
