Copy of Actual PNBC Form 12b-25

Highlights are mine.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 12b-25

NOTIFICATION OF LATE FILING

(Check one):      xForm 10-K     o Form 20-F     o Form 11-K     o Form 10-Q     o Form 10-D   o Form N-SAR    Form N-CSR

For Period Ended:     December 31, 2011                                                          

Transition Report on Form 10-K

Transition Report on Form 20-F

Transition Report on Form 11-K

Transition Report on Form 10-Q

Transition Report on Form N-SAR

For the Transition Period Ended: ______________________________

Read Instruction (on back page) Before Preparing Form. Please Print or Type.

Nothing in this form shall be constructed to imply that the Commission has verified any information contained herein.

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:


PART I – REGISTRANT INFORMATION

Princeton National Bancorp, Inc.


Full Name of Registrant


Former Name if Applicable

606 S. Main Street


Address of Principal Executive Office (Street and Number)

Princeton, IL  61356


City, State and Zip Code

PART II – RULES 12b-25(b) AND (c)

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)

(a) The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense
x (b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
(c) The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

 

PART III – NARRATIVE

State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

(Attach extra Sheets if Needed)  On March 30, 2012 the Registrant’s wholly owned subsidiary, Citizens First National Bank, received a letter from the Comptroller of the Currency confirming that it was significantly under capitalized.  The Registrant needed to properly review all aspects of the correspondence and could not do so within the timeframe required for filing the Form 10-K without unreasonable effort and expense.  Also, the Registrant has been unable to complete all aspects of its Form 10-K for the year ended December 31, 2011, and obtain the final review of its December 31, 2011 financial statements by its auditors on or prior to the prescribed due date without unreasonable effort and expense.


Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

 

PART IV – OTHER INFORMATION

(1) Name and telephone number of person to contact in regard to this notification
Rodney Stickle (815) 872-6236
(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed ? If answer is no, identify report(s).   Yes  No

Yes x   No o

(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?

Yes x   No o

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

See PART III NARRATIVE


          Princeton National Bancorp, Inc.         

(Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

Date     April 2, 2012     By: /s/ Rodney D. Stickle
Rodney D. Stickle, SVP, Chief Financial Officer

INSTRUCTION: The form may be signed by an executive officer of the registrant or by any other duly authorized representative. The name and title of the person signing the form shall be typed or printed beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive officer), evidence of the representative’s authority to sign on behalf of the registrant shall be filed with the form.

ATTENTION

Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).

GENERAL INSTRUCTIONS

1. This form is required by Rule 12b-25 (17 CFR 240.12b-25) of the General Rules and Regulations under the Securities Exchange Act of 1934.
2. One signed original and four conformed copies of this form and amendments thereto must be completed and filed with the Securities and Exchange Commission, Washington, D.C. 20549, in accordance with Rule 0-3 of the General Rules and Regulations under the Act. The information contained in or filed with the form will be made a matter of public record in the Commission files.
3. A manually signed copy of the form and amendments thereto shall be filed with each national securities exchange on which any class of securities of the registrant is registered.
4. Amendments to the notifications must also be filed on Form 12b-25 but need not restate information that has been correctly furnished. The form shall be clearly identified as an amended notification.
5. Electronic Filers:  This form shall not be used by electronic filers unable to timely file a report solely due to electronic difficulties. Filers unable to submit reports within the time period prescribed due to difficulties in electronic filing should comply with either Rule 201 or Rule 202 of Regulation S-T (§232.201 or §232.202 of this chapter) or apply for an adjustment in filing date pursuant to Rule 13(b) of Regulation S-T (§232.13(b) of this chapter).
6. Interactive data submissions. This form shall not be used by electronic filers with respect to the submission or posting of an Interactive Data File (§232.11 of this chapter). Electronic filers unable to submit or post an Interactive Data File within the time period prescribed should comply with either Rule 201 or 202 of Regulation S-T (§232.201 and §232.202 of this chapter).

21 comments on “Copy of Actual PNBC Form 12b-25

  1. Sorry for late post re: Crane’s article. Came accross it on Yahoo’s site and did not realize the info was already posted by the fine, interested members of a group that does care about the Bank.

    I hope someone has a workable idea. Maybe the management and board will now become open and honest. No more time for spin and excuses.

  2. I agree with Todd’s reference to shareholder apathy: for the past several years the shareholders have mindlessly voted “for” anything the board of directors wanted on the proxy. Too few of us voted “against” all of their ideas.

  3. Todd, Doug’s reference to Good Friday was a joke. That was the day they killed Jesus. Will it also be the day they crucify Citizens?

  4. Not if you don’t crucify the Board and Mgmt first. If you believe in Carma, like I do, those who do bad deed, will get their paybacks in spades. Or as my ex-wife used to say: “God don’t like ugly.” 🙂

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