EX-4
from 10-Q
1 page
July 16, 1993 Mr. James M. Flanagan Thomas D. Flanagan, Esq. Heil, Heil, Smart & Golee Flanagan, Bilton & Brannigan 1515 Chicago Avenue 130 E. Randolph Drive, Suite 1900 Evanston, Illinois 60204 Chicago, Illinois 60601 Board of Directors First Northbrook Bancorp, Inc. 1300 Meadow Road Northbrook, Illinois 60062 Re: Agreement and Plan of Reorganization Ladies and Gentlemen: We Reference That Certain Agreement and Plan of Reorganization Dated as of July 26, 1992 (The "Agreement"), Among Premier Financial Services, Inc. ("Premier"), Premier Acquisition Company and First Northbrook Bancorp, Inc. Terms Defined in the Agreement Are Used Herein With the Same Meaning. This Letter Agreement Describes, as Among Ourselves, Our Agreement That Premier Will Revise the Terms of the Premier Series B Preferred Stock and Premier Series D Preferred Stock to Provide That All Dividends Payable on Account of Such Stock Will Be Cumulative as Soon as Such Cumulative Premier Series B Preferred Stock and Premier Series D Preferred Stock Would Qualify as "Tier 1 Capital" Pursuant to Appendix a of Regulation Y, as Promulgated by the Board of Governors of the Federal Reserve System. Please Acknowledge Your Acceptance Hereof by Executing This Letter Agreement in the Space Provided Below. the Parties Acknowledge That This Letter Is Being Given to Induce James M. Flanagan and Thomas D. Flanagan to Consummate the Transactions Contemplated by the Agreement. Very Truly Yours, Premier Financial Services, Inc. Premier Acquisition Company By: /S/ Richard L. Geach By: /S/ Richard L. Geach Richard L. Geach Richard L. Geach President President
12/34/56
