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): July 18, 2005
GREENE COUNTY BANCSHARES, INC.
(Exact Name of Registrant as Specified in Charter)
Tennessee 0-14289 62-1222567
(State or Other Jurisdiction of (Commission (I.R.S. Employer
Incorporation) File Number) Identification No.)
100 North Main Street
Greeneville, Tennessee 37743-4992
(Address of Principal Executive Offices) (Zip Code)
(423) 639-5111
(Registrant's Telephone Number, Including Area Code)
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 Instruction 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))
Item 1.01. Entry Into a Material Definitive Agreement
On July 20, 2005, Greene County Bank (the "Bank"), a wholly-owned bank
subsidiary of Greene County Bancshares, Inc. (the "Company"), entered into a
Branch Purchase and Assumption Agreement (the "Purchase Agreement") with Old
National Bank, a national banking association having its principal office in
Evansville, Indiana, to acquire five Old National branches in Clarksville,
Tennessee with approximately $172 million in deposits and approximately $120
million in loans at June 30, 2005.
The Purchase Agreement provides that if the Company fails to obtain
financing for the transaction as required, Old National may terminate the
Purchase Agreement and receive a termination fee of $750,000.
The consummation of this transaction is subject to the satisfaction of
various customary closing conditions, including the receipt of required
regulatory approvals, and is expected to occur in the fourth quarter of 2005.
Item 5.02. Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.
On July 18, 2005, William F. Richmond, Senior Vice President and Chief
Financial Officer of the Company informed the Company's Board of Directors of
his intention to retire as Senior Vice President and Chief Financial Officer
effective as of January 1, 2006. It is expected that Mr. Richmond will remain
employed by the Company on a part-time basis to perform certain transitional
services during 2006 although no formal arrangement has been entered into
regarding such services as of the date hereof.
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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.
GREENE COUNTY BANCSHARES, INC.
By: /s/ R. Stan Puckett
-----------------------------------------
R. Stan Puckett
Chairman of the Board and Chief
Executive Officer
(Duly Authorized Representative)
Date: July 21, 2005
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