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Section 1: 8-K (8-K)

pub-8k_20200630.htm

 

 

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):  June 30, 2020

 

People’s Utah Bancorp

(Exact name of Registrant as Specified in Its Charter)

 

 

Utah

001-37416

87-0622021

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

 

 

 

1 East Main Street,

American Fork, UT

 

84003

(Address of Principal Executive Offices)

 

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (801) 642-3998

Not Applicable

(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 Instructions A.2. below):

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

 

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

 

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

 

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

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange on which registered

Common Stock, par value $0.01 per share

 

PUB

 

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

 

 


Item 8.01 Other Events.

Effective June 30, 2020, People’s Utah Bancorp (the “Company”) changed its name to AltabancorpTM.  As previously reported, shareholders approved the name change as part of the Company’s annual shareholder meeting held on May 27, 2020.  The Company filed the Second Restated Articles of Incorporation (the “Restated Articles”) effecting the name change with the Utah Department of Corporations on June 30, 2020.  In addition, as previously disclosed, on May 27, 2020, the Board of Directors of the Company approved the amended and restated Bylaws of AltabancorpTM (the “Amended Bylaws”).  The Amended Bylaws became effective upon the filing of the Restated Articles.

In connection with the change of the Company’s name to AltabancorpTM, the Company’s trading symbol on the Nasdaq Capital Market will change from “PUB” to “ALTA.” Trading under the new ticker symbol will begin at market opening Wednesday, July 1, 2020.  No action is required from current shareholders in relation to the change in the trading symbol.  The Company’s CUSIP will also change to 021347109.  

If a shareholder holds PUB shares in a certificated form, the shareholder will need to surrender the certificate to the Company’s transfer agent AST Financial to have the certificated shares converted to book entry form with the Company’s new CUSIP.  The Company will provide notice in the coming days to shareholders holding certificated shares to facilitate that conversion process.

Item 7.01Regulation FD Disclosure

On June 30, 2020, the Company issued a press release announcing the Company’s name change to AltabancorpTM. A copy of the press release is furnished herewith as Exhibit 99.1.   

The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise stated in such filing.

 

Item 9.01Financial Statements and Exhibits.

(d) Exhibits

 

 

 

Exhibit Number

Description

99.1

Press Release Announcing  AltabancorpTM dated June 30, 2020

 

 

 

 

 


SIGNATURE

 

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.

 

 

     People’s Utah Bancorp

 

 

 

 

 

Date: June 30, 2020

By:

/s/ Mark K. Olson

 

 

Mark K. Olson

 

 

Executive Vice President and

Chief Financial Officer

 

 

 

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Section 2: EX-99.1 (EX-99.1)

pub-ex991_50.htm

EXHIBIT 99.1

 

 

 

PEOPLE’S UTAH BANCORP ANNOUNCES CHANGE
IN COMPANY NAME AND TRADING SYMBOL

AMERICAN FORK, UTAH, June 30, 2020 – People’s Utah Bancorp (the “Company” or “PUB”) (Nasdaq: PUB) today announced its name change to AltabancorpTM.  Shareholders approved the name change as part of the Company’s annual shareholder meeting held on May 27, 2020.  The Company also announced that its trading symbol on the Nasdaq Capital Market will change from “PUB” to “ALTA.” Trading under the new trading symbol will begin at market opening on Wednesday, July 1, 2020.  No action is required from current shareholders in relation to the change in the trading symbol.  The Company’s CUSIP will also change to 021347109.  If a shareholder holds PUB shares in a certificated form, the shareholder will need to surrender the certificate to the Company’s transfer agent AST Financial to have the certificated shares converted to book entry form with the Company’s new CUSIP.  The Company will provide notice in the coming days to shareholders holding certificated shares to facilitate that conversion process.

“The change in the Company’s name and trading symbol is the culmination of our rebranding strategy for both AltabankTM and our holding company,” said Len Williams, President and Chief Executive Officer of the Company.  “In an effort to be the best bank for your business, we have simplified our branding strategy, unified our names, rolled out a new logo and a more contemporary look, and formally defined our brand promise to our clients.  We believe this unified brand will enhance our marketing efforts and help potential clients understand our size and ability to meet their needs, as we convey the bright future we believe we have as the largest community bank in our markets.”

Forward-Looking Statements

This press release may contain certain forward-looking statements that are based on management's current expectations regarding the Company’s strategic direction and related matters.    Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “intend,” “estimate” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could” or “may.” Factors that could cause future results to vary materially from current management expectations include, but are not limited to, the duration and impact of the COVID-19 pandemic, natural disasters, general economic conditions, economic uncertainty in the United States, changes in interest rates, deposit flows, real estate values, costs or effects of acquisitions, competition, changes in accounting principles, policies or guidelines, legislation or regulation, and other economic, competitive, governmental, regulatory and technological factors (including external fraud and cybersecurity threats) affecting the Company's operations, pricing, products and services. These and other important factors are detailed in various securities law filings made periodically by the Company, copies of which are available from the Company’s


website.  The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by law.

 

About AltabancorpTM (formerly known as People’s Utah Bancorp)

AltabancorpTM is a $2.5 billion bank holding company for AltabankTM.  AltabankTM is the largest community bank in Utah.  AltabankTM, a full-service bank, provides loans, deposit and cash management services to businesses and individuals through 26 branch locations from Preston, Idaho to St. George, Utah. Our clients have direct access to bankers and decision-makers who work with clients to understand their specific needs and offer customized financial solutions. AltabankTM has been serving communities in Utah and southern Idaho for more than 100 years. More information about AltabankTM is available at www.altabank.com.  More information about AltabancorpTM is available at www.altabancorp.com.

 

Investor Relations Contact

Mark K. Olson

Executive Vice President and Chief Financial Officer

AltabancorpTM 1 East Main Street

American Fork UT 84003

[email protected]

Phone: 801-642-3998

 

 

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