Shareholders question timing of Yardville National Bancorp's 2007 annual meeting

By Lisa Kerner

Charlotte, N.C., Feb. 6 - A group of shareholders led by Seidman & Associates LLC is questioning the timing of Yardville National Bancorp's proposed annual meeting scheduled for Aug. 16, 2007, according to a schedule 13D filing with the Securities and Exchange Commission.

The group, owning roughly 993,000 shares, or 8.99%, of the company, says the delay is improper and violates requirements of the New Jersey Business Corporation Act.

To comply with the statute, Yardville must convene its annual meeting no later than June 4, 2007 or face possible legal opposition from the shareholder group. The last annual meeting was held on May 3, 2006.

The investor group is seeking a written response from Yardville regarding the timing of the 2007 meeting, according to a letter included in the SEC filing.

Yardville National Bancorp, based in Hamilton, N.J., operates as the bank holding company primarily for The Yardville National Bank services.

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