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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):
January 5, 2001 (December 29, 2001)
Belmont Bancorp.
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(Exact Name of Registrant as Specified in its Charter)
Ohio
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(State or Other Jurisdiction of Incorporation)
0-12724 34-1376776
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(Commission File Number) (I.R.S. Employer Identification No.)
325 Main Street, Bridgeport, Ohio 43912
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (740) 695-3323
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Item 6. Resignations of Registrant's Directors
Resignation of J. Vincent Ciroli, Jr.
By letter of December 28, 2000, J. Vincent Ciroli, Jr. resigned as a
director of Belmont Bancorp. (the "Company") due to his disagreement on matters
relating to the Company's "operations, policies or practices" and his inability
to function "as an effective director." Mr. Ciroli requested that his
resignation letter be summarized in an 8-K and filed as an exhibit thereto.
In his letter, which is attached hereto as Exhibit 17.1, Mr. Ciroli claimed
to have been prevented from performing his duties as a director by reason of the
Company's alleged failure to deliver to him notices of meetings or to extend to
him invitations to attend some Board meetings. He claimed that Board meetings
were held without his knowledge and alleged that actions taken at certain of
these meetings potentially jeopardize the Company's ability to successfully
prosecute its claims against Progressive Casualty Insurance Co. Mr. Ciroli
also disputed the chronology of events reported in the Company's recent
registration statements on Form S-2 relative to events surrounding his
resignation as the chief executive officer of the Company and relative to the
Company's retention of legal counsel and an interim bank management firm. Mr.
Ciroli further noted that the Company's S-2 registration statements do not
contain any reference to the Company's claims against its former accountants,
which he felt should have been included.
Response of the Company
The Company denies that the Board of Directors prevented Mr. Ciroli from
discharging his duties as a director. The Company also denies that the
disclosures in the Company's S-2 registration statements were inaccurate. A
letter from the Company's chairman, W. Quay Mull, II, to Mr. Ciroli responding
to Mr. Ciroli's resignation letter is attached hereto as Exhibit 99.1.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial statements of businesses acquired.
Not applicable
(b) Prof forma financial information.
Not applicable
(c) Exhibits
17.1 Letter of resignation of J. Vincent Ciroli, Jr.
99.1 Letter of W. Quay Mull, II to J. Vincent Ciroli, Jr.
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SIGNATURE
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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.
Belmont Bancorp
(Registrant)
Date: January 5, 2001 By /s/ Wilbur R. Roat
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Wilbur R. Roat
President and Chief Executive Officer
