UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) July 19, 2005
FBL Financial Group, Inc.
(Exact name of registrant as specified in its charter)
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Iowa
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1-11917
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42-1411715 |
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification No.) |
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5400 University Avenue, West Des Moines, Iowa
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50266 |
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(Address of principal executive offices)
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(Zip Code) |
Registrants telephone number, including area code (515) 225-5400
TABLE OF CONTENTS
Explanatory Note
This Amendment No. 1 to our Current Report on Form 8-K, which was filed with the Securities and
Exchange Commission on July 22, 2005, is being filed to correct the date of earliest event
reported, which should have been July 19, 2005. Except for this change, this Form 8-K/A does not
modify or update our Form 8-K. For convenience and ease of reference, we are filing the entire Form
8-K.
ITEM 2.05 Costs Associated with Exit or Disposal Activities
In connection with its ongoing evaluation of its business in order to reduce expenses and improve
efficiencies, FBL Financial Group, Inc. has decided to close its life insurance processing unit in
Manhattan, Kansas. With this closure, issue and administration of all business in the state of
Kansas will be transferred to FBLs home office in West Des Moines, Iowa.
On July 19, 2005 FBL determined that as a result of the closure and some unrelated terminations, in
the second half of 2005 it will expect to record a one time pre-tax charge of approximately $2.3
million related mainly to severance and early retirement benefits, which is $0.05 per share on an
after-tax basis. Additionally, FBL expects to achieve pre-tax annual savings of approximately $4.0
million, which is $0.09 per share on an after-tax basis.
FBL also manages a significant property/casualty operation, located in the same Manhattan, Kansas
office, which is unaffected by these changes.
Cautionary Statement Regarding Forward Looking Information
From time to time, we may publish statements relating to anticipated financial performance,
business prospects, new products, and similar matters. These statements and others, which include
words such as expect, anticipate, believe, intend, and other similar expressions,
constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for these types of
statements. In order to comply with the terms of the safe harbor, please note that a variety of
factors could cause our actual results and experiences to differ materially from the anticipated
results or other expectations expressed in our forward-looking statements. The risks and
uncertainties that may affect the operations, performance, development and results of our business
include but are not limited to the following:
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Changes to interest rate levels and stock market performance may impact our lapse
rates, market value of our investment portfolio and our ability to sell life
insurance products, notwithstanding product features to mitigate the financial impact
of such changes. |
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Little or no gains in the entire series of call options purchased over the life of
index annuities could cause us to incur expenses for credited interest over and above
our option costs. This would cause our spreads to tighten and reduce our profits, or
potentially result in losses on these products. |
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The degree to which customers and agents (including the agents of our alliance
partners) accept our products will influence our future growth rate. |
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Extraordinary acts of nature or man may result in higher than expected claim activity. |
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Changes in federal and state income tax laws and regulations may affect the relative
tax advantage of our products. |