HIGHLANDS BANKSHARES, INC. (OTCMKTS:HLND) Files An 8-K Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition.
issued a press release reporting its financial results for the
period ended March 31, 2017. A copy of the press release is being
furnished as Exhibit 99.1 to this report and is incorporated by
reference into this Item 2.02.
| Item 5.02. |
Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Financial Officer of the Company and its wholly-owned
subsidiary, Highlands Union Bank (the “Bank”). Subject to
regulatory approval, Mr. Gray’s appointment will become
effective on or before June 1, 2017, upon effectiveness of the
previously-announced resignation of the current Chief Financial
Officer, James R. Edmondson, occurring on May 12, 2017.
Financial Corporation from August 2014 through April 2017.
Previously, he served as Manager, Financial Reporting and
Analysis and SEC Reporting, and in other roles for First
Citizens BancShares, Inc. from 1986 through August 2014.
will be eligible to participate in the Company’s annual
performance-based short-term incentive program. In addition, he
will receive a signing bonus of $40,000. Mr. Gray will be
entitled to participate in all of the employee benefit plans
for which he is eligible, including health and dental
insurance, group term life and long term disability options,
and the Company’s 401(k) plan.
is attached as Exhibit 99.2 to this report and is incorporated
by reference into this Item 5.02.
|
Exhibit No.
|
Description
|
|
|
99.1
|
Press release dated May 1, 2017
|
|
|
99.2
|
Press release dated April 26, 2017.
|
About HIGHLANDS BANKSHARES, INC. (OTCMKTS:HLND)
Highlands Bankshares, Inc. is a bank holding company. The Company conducts its business operations through its bank subsidiary, Highlands Union Bank (the Bank). The Bank operates a commercial banking business, which offers general retail and commercial banking services to individuals, businesses and local government unit customers. The Bank’s products and services include accepting deposits in the form of checking accounts, money market deposit accounts, interest-bearing demand deposit accounts, savings accounts and time deposits; making residential one- to four-family loans, owner occupied and non-owner occupied commercial real estate loans, second mortgages and equity lines, consumer loans, commercial and industrial loans, credit cards and agricultural loans; offering letters of credit; providing other consumer financial services, such as automatic funds transfer, collections, safe deposit, travelers checks and savings bond sales, and providing other miscellaneous services. HIGHLANDS BANKSHARES, INC. (OTCMKTS:HLND) Recent Trading Information
HIGHLANDS BANKSHARES, INC. (OTCMKTS:HLND) closed its last trading session up +0.10 at 6.90 with 2,990 shares trading hands.