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First Manitowoc Bancorp, Inc. |
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The Company engages in its business through its sole subsidiary, First National Bank in Manitowoc (the "Bank"), a national banking association incorporated in 1894. The bank has a wholly owned investment subsidiary, FNBM Investment Corporation. The Company acquired the Bank through the merger of the Bank into an interim national banking association formed as a Company subsidiary for the purpose of the merger, pursuant to a Plan of Reorganization and Agreement to Merge (the "Plan") proposed by Bank management and approved by the Bank's shareholders on June 12, 1982. Pursuant to the Plan, each outstanding share of Bank common stock was exchanged for three shares of the Company's common stock. The Bank's charter was not affected by the merger. In 1999, the Company registered its securities under Section 12(g) of the Securities Exchange Act of 1934 (the "Act"). In February 2005, the Company began a transaction to terminate its registration with the Act. The termination of registration with the Securities and Exchange Commission became effective June 17, 2005. The transaction reduced the number of record holders of the Company stock to below 300. It was accomplished by merging the Company into a wholly-owned subsidiary created solely for that purpose. The officers, directors and employees of the Company occupy the same positions in the newly merged Company. There were no personnel changes or changes in operations at the Company and Bank. The Company approved the transaction to terminate registration with the Act due to the increasing costs and management time required for compliance with the Sarbanes-Oxley Act of 2002 and satisfaction of reporting requirements under the Act. The Company believes its shareholders gain little if any benefit from these compliance and reporting costs, since the Company and the Bank, are already regulated and subject to examination by the Federal Reserve and by the Comptroller of the Currency and Federal Deposit Insurance Corporation, respectively. The Company's Board of Directors believes the transaction is in the best, long-term, interests of the Company and its shareholders. Currently, the Company has outstanding 6,714,560 shares of common stock, par value $0.01 per share. Mission Statement First Manitowoc Bancorp's mission statement is available online. Company Financial Information Financial information is listed below by report and date reported. Adobe Reader (available free from Adobe), or a compatible PDF reader, is required to view the linked reports.
Corporate News Shareholder Newsletter
Second Quarter Cash Dividend Corporate Governance The following links are related to the governance of First Manitowoc Bancorp, Inc.:
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