8-K 1 form8k.htm HABERSHAM BANCORP 8-K 9-8-2009 form8k.htm
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 8, 2009


Habersham Bancorp
(Exact Name of Registrant as Specified in its Charter)

Georgia
0-13153
58-1563165
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)
 
 
P. O. Box 1980
Historic Highway 441 North,
Cornelia, GA  30531
(Address of Principal Executive Offices)

Registrant’s telephone number, including area code
(706) 778-1000


N/A
(Former Name or Former Address, if Changed Since Last Report)
 
 
 
 

Item 1.01
Entry into a Material Definitive Agreement
 
On September 8, 2009, Habersham Bancorp (the “Company”) and its wholly-owned subsidiary, Habersham Bank (the “Bank”), executed termination agreements relating to the supplemental executive retirement plan agreements dated as of January 1, 2008 with the executive officers listed below, as well as two non-executive officers whose agreements are not filed herewith.  Based on their review of the terms of these agreements and the capital needs of the Company and the Bank, the boards of directors of the Company and the Bank and each individual party to the agreements determined that the cancellation of such agreements would be in the best interest of the Company and the Bank. 
 
Item 9.01
Financial Statements and Exhibits
 
Exhibit
Description

Termination and Waiver Agreement dated as of September 8, 2009 between the Company and David D. Stovall.

Termination and Waiver Agreement dated as of September 8, 2009 between the Company and Bonnie Bowling.

Termination and Waiver Agreement dated as of September 8, 2009 between the Bank and Edward D. Arial.

 
 
 

SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 
HABERSHAM BANCORP
     
     
Date:  September 14, 2009
By:
  /s/ Annette Banks
   
Annette Banks
   
Chief Financial Officer