Replies to post #2528 on Penny Gamblers Paradise

[KingofPennies]

LMAO

[pkripper]

VNBC 8k filed

Item 1.01. Entry into a Material Definitive Agreement.

As previously announced, Vineyard National Bancorp (the “Company”) entered into a stock purchase agreement (the “Purchase Agreement”), dated November 12, 2008, with Vineyard Bancshares, Inc., a newly formed Minnesota corporation (the “Buyer”), pursuant to which the Company agreed to sell to the Buyer all of the outstanding shares of stock of the Company’s primary asset, Vineyard Bank, National Association (the “Bank”). On March 10, 2009, the Company entered into an amendment (the "Amendment") to the Purchase Agreement. The Amendment extends the date by which both parties can terminate the agreement for the failure to satisfy the financing condition to March 31, 2009. The Amendment also reduces the minimum amount of stockholders' equity and loan loss reserve required at the Bank as a condition to the Buyer's obligation to consummate the transaction. The Amendment is filed as Exhibit 2.1 to this Current Report on Form 8-K and is incorporated herein by reference.


http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6482333