ccbd-8k020311.htm
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): January 31, 2011
COMMUNITY CENTRAL BANK CORPORATION
(Exact name of Registrant as specified in its charter)
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Michigan
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000-33373
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38-3291744
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(State or Other Jurisdiction
of Incorporation)
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(Commission File Number)
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(IRS Employer Identification
No.)
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100 N. Main Street, Mt. Clemens, MI
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48046
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(Address of principal executive
offices)
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(Zip Code)
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Registrant’s telephone number, including area code (586) 783-4500
Not Applicable
(Former name or former address, if changed since last year)
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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240-14d-2(b)).
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).
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Item 8.01 Other Events.
Community Central Bank Corporation (“Company”) is the parent company of Community Central Bank (the “Bank”). The Bank’s Report of Condition and Income for the quarter ended December 31, 2010 (“Call Report”) filed with the FDIC reported that its tier 1 leverage ratio as of the end of the period was 1.66%, placing the Bank in the critically undercapitalized category.
Under the Prompt Corrective Action framework established under FDICIA, the failure to meet minimum capital requirements can initiate both mandatory and additional discretionary actions by regulators that are likely to have a material adverse effect on the Bank and the Company. In the case of critically undercapitalized banks, the appointment of a conservator or receiver generally is required if the institution is unable to raise sufficient capital within 90 days of the date on which it was determined that the institution was critically undercapitalized.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Dated: February 3, 2011
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COMMUNITY CENTRAL BANK CORPORATION
(Registrant)
By: /s/ Ray T. Colonius
Ray T. Colonius
Interim Chief Executive Officer
Chief Financial Officer
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