UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): May 21, 2008
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FIRST FEDERAL OF NORTHERN MICHIGAN BANCORP, INC.
(Exact name of Registrant as specified in its charter)
Maryland 0-31957 38-0135202
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
100 S. Second Ave., Alpena, Michigan 49707
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(Address of principal executive offices)
(989) 356-9041
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Registrant's telephone number, including area code
Not Applicable
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(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:
|_| 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 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
First Federal of Northern Michigan Bancorp, Inc. (the "Company") announced at
its Annual Meeting of Stockholders on May 21, 2008 that Martin A. Thomson
retired as Chief Executive Officer of the Company and of the Company's principal
operating subsidiary, First Federal of Northern Michigan (the "Bank"). Mr.
Thomson had served as Chief Executive Officer since 2001. The Company also
announced that Mr. Thomson, a member of the Board of Directors, was appointed as
Chairman of the Board of Directors of the Company and of the Bank. James C.
Rapin, who has served as Chairman of the Board since March 2002, retired as
Chairman but remained on the Board of Directors of each entity.
In conjunction with Mr. Thomson's retirement, the Board of Directors appointed
Michael W. Mahler, currently President of the Company and of the Bank, to the
additional post of Chief Executive Officer. All of the management changes were
effective on May 21, 2008.
Biographical data with respect to Mr. Mahler was included in the Company's
annual meeting proxy statement, which was filed at the Securities and Exchange
Commission on April 22, 2008. There were no transactions described in Item 404
(a) of Regulation S-K to which Mr. Mahler and the Company were a party.
Item 9.01. Financial Statements and Exhibits.
(a) Financial Statements of Businesses Acquired: None
(b) Pro Forma Financial Information: None
(c) Shell company transactions: None
(d) Exhibits: None
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.
FIRST FEDERAL OF NORTHERN MICHIGAN
BANCORP, INC.
Date: May 23, 2008 By: /s/ Michael W. Mahler
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Michael W. Mahler
President and Chief Executive Officer
(Duly Authorized Representative)