Indymac Bancorp Inc - Current report filing (8-K)
May 01 2008 - 5:04AM
Edgar (US Regulatory)
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):
April 25, 2008
INDYMAC BANCORP, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware
(State or Other
Jurisdiction
of
Incorporation)
|
|
1-08972
(Commission File
Number)
|
|
95-3983415
(IRS Employer
Identification No.)
|
888 East Walnut Street, Pasadena, California 91101-7211
(Address of
Principal Executive Offices)
(800)
669-2300
(Registrants
telephone number, including area code)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities
Act.
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act.
o
Pre-commencement communications pursuant to Rule 14d-2b under the
Exchange Act.
o
Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act.
Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment
of Certain Officers; Compensatory Arrangements of Certain Officers
.
IndyMac
Bancorp, Inc. (Indymac
Ò
or the Company) is
reporting that the Companys Chief Financial Officer, A. Scott Keys, has, at
his request, taken a medical leave of absence effective April 25,
2008. Indymac has named S. Blair
Abernathy as Chief Financial Officer effective April 25, 2008.
Mr. Abernathy
is a 14-year veteran of Indymac. He
started his career at KPMG Peat Marwick, spent four years there as an auditor
specializing in financial institutions and is a former Certified Public
Accountant (CPA). After leaving KPMG, Mr. Abernathy
served as Vice President and Controller of Sunrise Bancorp of California, a
publicly traded bank holding company with banking and mortgage banking
subsidiaries, from 1988 to 1993 and then as Senior Vice President and Chief
Financial Officer of Commerce Security Bank, a state chartered bank in
Sacramento, California, until he joined the Company in 1994 as head of
secondary marketing. In his career at Indymac, Mr. Abernathy has held a
number of executive level positions, serving as head of all capital markets
activities (including secondary marketing), moving to become Indymacs Chief
Investment Officer and recently returning to head up all capital markets
activities. Mr. Abernathy has been
a member of Indymacs Executive Committee since it was formed in 2000. He received a B.S. in Business Administration
from California State University, Sacramento where he graduated with honors.
In
addition to Mr. Abernathy, Indymac has an experienced senior management
team in its accounting and financial management areas, including the following:
·
Gregory Sosnovich, CPA, Senior Vice President
and Chief Accounting Officer, who has been with Indymac since 2006 and has over
30 years of accounting and financial management experience at firms including
Ernst & Young, ABN Amro and JP Morgan Chase;
·
Pamela Marsh, former CPA, Executive Vice
President, Strategic and Financial Planning and Investor Relations, who has
been with Indymac since 1995 and has over 25 years of accounting and financial
management experience at firms including KPMG Peat Marwick and Sanwa Bank
California.
·
Brian Carter, former CPA, Executive Vice
President, Chief of Staff and Chief Management Accountant, who has been with
Indymac since 2002 and has 17 years of accounting and financial management
experience at firms including Ernst & Young and Huntington Bank; and
·
Francisco Nebot, Executive Vice President,
Director of Corporate Finance and Treasurer, who has been with Indymac since
2001 and has over 25 years of accounting and financial management experience,
including serving as CFO at ITT Federal Bank and Shearson Lehman Mortgage.
2
With
respect to secondary marketing, Senior Vice President Aaron Wade will continue
to manage this area for Indymac and will now take on the responsibility for all
capital markets activities.
Mr. Abernathy
has an employment agreement with the Company dated as of July 1, 2006, as
amended January 29, 2008, which expires December 31, 2009. Pursuant to the terms of this employment
agreement, Mr. Abernathy is entitled to base salary and customary
perquisites, consistent with the Companys past practices. Furthermore, Mr. Abernathy is entitled
to participate in each employee benefit plan maintained by the Company, as well
as peer group incentive plans. A more
detailed description of the Companys compensation arrangements with Mr. Abernathy,
as well as disclosure of certain transactions between the Company and Mr. Abernathy
that are reported in the Companys proxy statement pursuant to Item 404(a) of
Regulation S-K, can be found in the Company proxy statement for the fiscal year
ended December 31, 2007, filed with the Securities and Exchange Commission
on March 24, 2008, which is incorporated by reference herein. There are no changes to Mr. Abernathys
compensation arrangements at this time.
Item 2.02.
Results of Operations and
Financial Condition.
In connection with the
change in the CFO position discussed above, Indymacs CEO, Michael Perry, sent
an email to all Indymac employees and has made this communication available on
the Companys Blog at www.theimbreport.com.
Included in this communication is an update on estimated first quarter
financial results, which the Company felt was important to communicate in
connection with the above change. A copy
of this statement is filed as Exhibit 99.1 on this Form 8-K.
Item 9.01.
Financial Statements and Exhibits
.
The following exhibit is
intended to be deemed filed as part of this Form 8-K.
EXHIBIT
NUMBER
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DESCRIPTION
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99.1
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IndyMac Bancorp, Inc.
statement dated April 30, 2008 on the change of the Companys Chief Financial
Officer and update on estimated first quarter results.
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3
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 undersigned hereunto
duly authorized.
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INDYMAC
BANCORP, INC.
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By:
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/s/ MICHAEL W. PERRY
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Michael W. Perry
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Chief Executive Officer
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Date: April 30, 2008
4
EXHIBIT
INDEX
EXHIBIT
NUMBER
|
|
DESCRIPTION
|
99.1
|
|
IndyMac Bancorp, Inc.
statement dated April 30, 2008 on the change of the Companys Chief Financial
Officer and update on estimated first quarter results.
|
5
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