CIB Marine Bancshares Inc (CIBH)

[AKAPAK]

from 8K:

page 8-9

On May 24, 2012, following passage of the Jumpstart Our Business Startups Act, which increased the number of shareholders of record threshold for deregistration under Section 12(g) of the Securities Exchange Act of 1934 (the "Exchange Act") for banks and bank holding companies, CIB Marine filed a Form 15 with the Securities and Exchange Commission (“SEC”), giving notice of termination of the registration of CIB Marine’s common stock under Section 12(g) of the Exchange Act. The termination of CIB Marine's registration is expected to become effective on or about August 22, 2012. As a result of the effectiveness of the termination of registration, CIB Marine will no longer be required to file annual or periodic reports under Sections 13 or 15(d) of the Exchange Act, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, or comply with the proxy rules or file proxy materials under Section 14 of the Exchange Act, and CIB Marine's directors and executive officers will no longer be required to comply with the requirements of Section 16 of the Exchange Act, until such time as CIB Marine has 2,000 or more shareholders of record as of the end of any calendar year.

Not worried, will wait for payday...