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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
Date of Report (Date of earliest event reported): May 8, 2000
INDEPENDENT FINANCIAL NETWORK, INC.
(Exact Name of Registrant as specified in its charter)
Oregon _____0-27590____ 93-0800253
(State or other (Commission (IRS Employer
jurisdiction File Number) Identification No.
of incorporation)
170 S. Second St., Coos Bay 97420
Address of Principal Executive Office Zip Code
Registrant's telephone number including area code (541) 267-5356
(Former name or former address, if changed since last report) SECURITY BANK
HOLDING COMPANY
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Item 5. Other Events
On May 8,2000, the registrant announced that the registrant's corporate
name had been changed from Security Bank Holding Company to its current name,
Independent Financial Network, Inc. The registrant's ticker symbol on the Nasdaq
National Market is being changed, effective May 15, 2000, from "SBHC" to "INFN"
to reflect the new corporate name. A copy of the press release announcing the
name change is attached as an exhibit to this report on Form 8-K.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99.1 Press release dated May 8, 2000 announcing the name change.
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 under-
signed hereunto duly authorized.
INDEPENDENT FINANCIAL NETWORK
Date: May 8, 2000 By: /s/ Charles D. Brummel
Charles D. Brummel
CEO and Chairman of the Board
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SECURITY BANK HOLDING COMPANY SHAREHOLDERS
APPROVE CHANGE OF CORPORATE NAME
COOS BAY, Ore. - (BUSINESS WIRE) - May 8, 2000. Shareholders of Security
Bank Holding Company (NASDAQ: SBHC) recently approved a resolution to change the
corporation's name to Independent Financial Network. Approval was given at the
Annual Meeting of Shareholders held April 18, 2000, in North Bend, Oregon.
Management is targeting May 15, 2000, as the official roll-out date for the new
name. The new NASDAQ ticker symbol will be "INFN", effective May 15, 2000. The
current web site address of www.sbhc.com will remain active during the transi-
tion, with the future web-site address to be www.ifn-online.com.
Chairman and CEO Chuck Brummel stated that the change was motivated to avoid the
confusion between the Holding Company and Security Bank, one of its affiliates.
The company started an expansion phase in 1996. In addition to Security Bank,
the Holding Company also wholly-owns Security Mortgage Company, Family Security
Bank, and Pacific State Bank, and is a majority-owner of Lincoln Security Bank,
Oregon State Bank, and McKenzie State Bank. Roseburg Community Banking Company,
formed in 1999 under an assumed name of affiliate Security Bank, will be con-
verted early in 2001 to a wholly-owned affiliate of Independent Financial
Network. All of the Oregon-based affiliates operate as independent banks, with
local presidents, under local boards of directors. In addition to its mortgage
and banking operations, the company is developing its Information Technology
Department and planning to provide data-processing, item-processing, and other
technological services to nonaffiliated banks. All of the affiliates will offer
on-line banking in the 3rd Quarter of 2000.
Shareholders also approved the re-election of Directors Robert L. Fullhart,
Ronald C. LaFranchi, and Gary L. Waggoner, for three-year terms. Fullhart has
served on the board since 1997, LaFranchi since 1998, and Waggoner since 1999.
The company's consolidated assets were at $327.1 million on March 31, 2000.
Contact information:
Chuck Brummel - Chairman and Chief Executive Officer, (541) 267-5356
Ron Farnsworth - Chief Financial Officer, (541) 267-2712
