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) October 1, 2007


 

EPIC BANCORP

(Exact name of registrant as specified in its charter)


 

 

 

 

 

California

 

000-50878

 

68-0175592

(State or other jurisdiction of
incorporation)

 

(Commission
File Number)

 

(IRS Employer
Identification No.)


 

 

 

630 Las Gallinas Ave, San Rafael California

 

94901

(Address of principal executive offices)

 

(Zip Code)


 

Registrant’s telephone number, including area code (415) 526-6400

 

N/A

(Former name or former address, if changed since last report)

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 (see General Instruction A.2. below):

 

 

 

 

o

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

 

 

o

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

 

 

o

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

 

 

o

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item 1.02 Termination of a Material Definitive Agreement

On October 1, 2007 Epic Bancorp (the “Company”) redeemed $10 million of trust preferred securities that were issued by a wholly owned trust, San Rafael Capital Trust I. These trust preferred securities were originally issued on June 27, 2002 and had born a floating interest rate of three-month LIBOR plus 3.65 percent.

The funds utilized to redeem these trust preferred securities were primarily obtained from the previously announced issuance of $10 million of new trust preferred securities issued through a newly formed wholly owned trust, San Rafael Capital Trust III. The new trust preferred securities were issued on July 25, 2007 and bear a floating interest rate of three-month LIBOR plus 1.44 percent.

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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.

 

 

 

Date: October 5, 2007

 

EPIC BANCORP

 

 

 

 

 

/s/ Michael E. Moulton

 

 

 

 

Michael E. Moulton, Chief Financial Officer

 

 

(Principal Financial Officer)

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