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
February 11, 2009
Date of Report
(Date of earliest event reported)
Access National Corporation
(Exact name of registrant as specified in its charter)
Virginia 000-49929 82-0545425
----------------- ------------ -------------------
(State or other (Commission (IRS Employer
jurisdiction File Number) Identification No.)
of incorporation)
1800 Robert Fulton Drive, Suite 300, Reston, VA 20191
-----------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
(703) 871-2100
----------------------------------------------------
(Registrant's telephone number, including area code)
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):
|_| 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 8.01 Other Events.
On February 11, 2009, Access National Corporation (Nasdaq: ANCX), holding
company for Access National Bank, completed the issuance of $30,000,000 of
senior unsecured debt securities due February 15, 2012 (the "Notes"), in a
transaction that was exempt from registration pursuant to Section 3(a)(2) of the
Securities Act of 1933, as amended. The Notes were placed through a pooled trust
issuance arranged by Sandler O'Neill & Partners Corporation and bear interest at
a fixed rate of 2.74%. The Notes are guaranteed by the Federal Deposit Insurance
Corporation under the Temporary Liquidity Guarantee Program (the "TLGP") and are
backed by the full faith and credit of the United States. A fee equal to 1% per
annum is payable to the FDIC in consideration of its guarantee. Proceeds from
the Notes will be used for general corporate purposes, including the origination
of loans to businesses and individuals to be held for investment or sale.
In connection with the TLGP, the Company entered into a Master Agreement
("Master Agreement") with the FDIC on December 9, 2008. The Master Agreement
contains certain terms and conditions that must be included in the governing
documents for any senior debt securities issued by the Company that are
guaranteed pursuant to the TLGP.
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.
ACCESS NATIONAL CORPORATION
(Registrant)
Date: February 17, 2009 By: /s/ Michael W. Clarke
----------------------------------------
Name: Michael W. Clarke
Title: President & Chief Executive Officer