UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 6, 2008
1st Independence Financial Group, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
0-26570 61-1284899
(Commission File Number) (IRS Employer Identification No.)
8620 Biggin Hill Lane, Louisville, Kentucky 40220-4117
(Address of Principal Executive Offices) (Zip Code)
(502) 753-0500
(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 June 6, 2008, 1st Independence Bank, Inc. (the "Bank"), a wholly-owned
subsidiary of 1st Independence Financial Group, Inc., entered into a Settlement
Agreement and Termination of Lease (the "Agreement") with Ardmore, LLC
("Ardmore"). The Agreement provides for (i) the termination of that certain
Ground Lease dated May 18, 2006, between the Bank and Ardmore; (ii) the mutual
release of all claims relating to the Ground Lease; (iii) the Bank pay to
Ardmore an amount equal to $325,000; (iv) Ardmore to retain the $10,000 security
deposit made by the Bank under the Ground Lease; and (v) no admission of
liability on the part of the Bank or Ardmore.
The foregoing description of the Agreement does not purport to be complete and
is qualified in its entirety by reference to the complete text of the Agreement,
a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K
and is incorporated herein by reference in its entirety.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
10.1 Settlement Agreement and Termination of Lease, dated June 6, 2008
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.
1st INDEPENDENCE FINANCIAL GROUP, INC.
Date: June 9, 2008 By: /s/ R. Michael Wilbourn
--------------------------
R. Michael Wilbourn
Executive Vice President
and Chief Financial Officer
Exhibit Index
Exhibit
Number Description
-------- -----------------------------------------
10.1 Settlement Agreement and Termination of Lease, dated June 6, 2008