baynational8k.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): October 3, 2007
Bay
National Corporation
(Exact
Name of Registrant as Specified in its Charter)
|
Maryland
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000-51765
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52-2176710
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|
(State
of Incorporation)
|
(Commission
File Number)
|
(I.R.S.
Employer Identification No.)
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2328
West Joppa Road
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|
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Lutherville,
Maryland
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21093
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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: 410-494-2580
N/A
(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 communication 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))
Section
1 – Registrant’s Business and Operations
Item
1.01. Entry
into a Material Definitive Agreement.
On
October 3, 2007, Bay National Bank
(a wholly owned subsidiary of Bay National Corporation) (the “Bank”) entered
into a lease agreement with its landlord, COLUMBIA 100, LLC pursuant to which
the Bank agreed to lease 3,211 square feet of space on the third floor of a
building located at 8820 Columbia 100 Parkway, Suite 301, Columbia, MD
21045. The Bank intends to use this space for its Howard County loan
production office.
Pursuant
to the
lease agreement, the Bank agreed to an initial lease term of five
years. The Bank was also provided the right to renew the lease
for two additional five-year terms. As part of this agreement, the
aggregate rent due under the lease is $6,783.24 monthly from commencement for
a
term of 12 months. For each lease year thereafter, including any
lease years during any renewal term, the yearly base rent will increase by
three
percent.
Section
9 – Financial Statements and Exhibits
Item
9.01. Financial
Statements and Exhibits.
(d) Exhibits
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.
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BAY
NATIONAL CORPORATION
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Date:
October 9, 2007
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By: /s/
Hugh W. Mohler
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Hugh
W. Mohler, President
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EXHIBIT
INDEX