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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________
FORM 11-K
Annual Report Pursuant to Section 15(d) of the
Securities Exchange Act of 1934
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
For the fiscal year ended December 31, 2006
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT
OF 1934
For the transition period from____________to___________
Commission File Number 000-28846
A. Full title of the plan and the address of the plan, if
different from that of the issuer named below:
Centrue Financial Corporation 401(k) Profit Sharing Plan
(formerly known as UnionBancorp, Inc. 401(k) Profit Sharing Plan)
B. Name of issuer of the securities held pursuant to the plan and
the address of its principal executive office:
Centrue Financial Corporation
122 West Madison Street
Ottawa, Illinois 61350
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REQUIRED INFORMATION
The following financial statements and schedules of the Centrue
Financial Corporation 401(k) Profit Sharing Plan (the "Plan"), prepared in
accordance with the Employee Retirement Income Security Act of 1974, as amended
("ERISA"), are filed herewith. Crowe Chizek and Company LLC, the current
independent auditors for the Plan, audited the financial statements and
schedules of the Plan as of and for the fiscal years ended December 31, 2006 and
2005. The consent of Crowe Chizek and Company LLC is attached as Exhibit 23.1 to
this Form 11-K.
CENTRUE BANK 401(k) PROFIT
SHARING PLAN AND TRUST
(formerly known as UnionBancorp, Inc.
401(k) Profit Sharing Plan)
Ottawa, Illinois
FINANCIAL STATEMENTS
December 31, 2006 and 2005
CENTRUE BANK 401(k) PROFIT
SHARING PLAN AND TRUST
(formerly known as UnionBancorp, Inc.
401(k) Profit Sharing Plan)
Ottawa, Illinois
FINANCIAL STATEMENTS
December 31, 2006 and 2005
CONTENTS
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM................. 1
FINANCIAL STATEMENTS
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS.................... 2
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS.......... 3
NOTES TO FINANCIAL STATEMENTS...................................... 4
SUPPLEMENTAL SCHEDULES
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)..... 11
SCHEDULE G, PART III - SCHEDULE OF NONEXEMPT TRANSACTIONS.......... 13
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Plan Administrator of
Centrue Bank 401(k) Profit Sharing Plan and Trust
(formerly known as UnionBancorp, Inc. 401(k) Profit Sharing Plan)
Ottawa, Illinois
We have audited the accompanying statements of net assets available for benefits
of the Centrue Bank 401(k) Profit Sharing Plan and Trust (formerly known as the
UnionBancorp, Inc. 401(k) Profit Sharing Plan) (the Plan) as of December 31,
2006 and 2005, and the related statement of changes in net assets available for
benefits for the year ended December 31, 2006. These financial statements are
the responsibility of the Plan's Administrator. Our responsibility is to express
an opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the Plan as of
December 31, 2006 and 2005, and the changes in net assets available for benefits
for the year ended December 31, 2006, in conformity with U.S. generally accepted
accounting principles.
Our audit was conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedule of assets (held
at end of year) and schedule of nonexempt transactions are not a required part
of the basic financial statements but are supplementary information required by
the Department of Labor's Rules and Regulations for Reporting and Disclosure
under the Employee Retirement Income Security Act of 1974. The supplemental
schedules are the responsibility of the Plan's management. The supplemental
schedules have been subjected to the auditing procedures applied in the audit of
the basic 2006 financial statements and, in our opinion, are fairly stated in
all material respects in relation to the basic 2006 financial statements taken
as a whole.
/s/ Crowe Chizek and Company LLC
--------------------------------
Crowe Chizek and Company LLC
Oak Brook, Illinois
June 27, 2007
CENTRUE BANK 401(k) PROFIT
SHARING PLAN AND TRUST
(formerly known as UnionBancorp, Inc.
401(k) Profit Sharing Plan)
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
December 31, 2006 and 2005
--------------------------------------------------------------------------------
2006 2005
------------ ------------
ASSETS
Investments at fair value (Note 4) $ 6,187,062 $ 5,667,466
Cash -- 200
------------ ------------
Total assets 6,187,062 5,667,666
LIABILITIES
Accrued expenses -- 10,593
------------ ------------
Net assets reflecting all investments at fair value 6,187,062 5,657,073
Adjustment from fair value to contract value
for fully benefit-responsive contracts 14,556 --
------------ ------------
NET ASSETS AVAILABLE FOR BENEFITS $ 6,201,638 $ 5,657,073
============ ============
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See accompanying notes to financial statements.
2.
CENTRUE BANK 401(k) PROFIT
SHARING PLAN AND TRUST
(formerly known as UnionBancorp, Inc.
401(k) Profit Sharing Plan)
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
Year ended December 31, 2006
--------------------------------------------------------------------------------
Additions to net assets attributed to
Investment income
Net appreciation in fair value of investments (Note 4) $ 471,686
Interest and Dividends 109,899
------------
581,585
Contributions
Participant wage deferrals 664,298
Rollovers 32,233
Employer 445,651
------------
1,142,182
Reimbursement for prohibited transaction (Note 7) 51,620
------------
Total additions 1,775,387
Deductions from net assets attributed to
Benefits paid to participants 1,213,917
Administrative expenses 16,905
------------
Total deductions 1,230,822
------------
Net increase 544,565
Net assets available for benefits
Beginning of year 5,657,073
------------
End of year $ 6,201,638
============
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See accompanying notes to financial statements.
3.
CENTRUE BANK 401(K) PROFIT
SHARING PLAN AND TRUST
(formerly known as UnionBancorp, Inc.
401(k) Profit Sharing Plan)
December 31, 2006 and 2005
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NOTE 1 - DESCRIPTION OF THE PLAN
Effective November 13, 2006, the Board of Directors of UnionBancorp, Inc.
unanimously consented to change the name of the Plan from the UnionBancorp, Inc.
401(k) Profit Sharing Plan and Trust to the Centrue Bank 401(k) Profit Sharing
Plan and Trust ("the Plan") pursuant to UnionBancorp, Inc.'s merger with Centrue
Financial Corporation ("the Company").
The following brief description of the Plan is provided for general information
purposes only. Participants should refer to the plan agreement for a more
complete description of the Plan's provisions.
General: The Plan is a defined contribution plan covering employees of the
Company and certain of its subsidiaries. The Plan was established effective
January 1, 1998 and restated effective January 1, 2006 and covers all employees
who have completed three months of service (six months prior to January 1, 2002)
and are aged 20 1/2 or older. The Plan is subject to the provisions of the
Employee Retirement Income Security Act of 1974 (ERISA).
The administrator of the Plan is Centrue Financial Corporation (the
Administrator) and the trustee of the Plan is Centrue Bank (the Trustee), which
is a subsidiary of the Administrator. The Plan's assets are held by First
Mercantile Trust Company.
Contributions: Each year, participants may contribute up to the maximum allowed
under Internal Revenue Code (IRC) Sections 402(g) and 415 of their annual
compensation. The Company can make a discretionary contribution, subject to
certain limitations under applicable federal income tax laws and regulations, on
an annual basis. The Company's discretionary contribution is allocated to
participant accounts on the last day of the year based on the ratio of each
participant's eligible compensation for the year to total eligible compensation
for the year. The Company's discretionary matching contribution is allocated to
participant accounts each pay period based on each participant's voluntary
contributions. The employer contributed 4% of eligible wages for the 2006 plan
year.
Participant Accounts: Each participant's account is credited with that
employee's contributions and an allocation of plan earnings. Employer
contributions are allocated to participant accounts in proportion to employee
contributions or employee compensation, as provided in the plan document. Plan
earnings are allocated to participant accounts in proportion to the
participant's account balance to total account balances in each investment. The
benefit to which a participant is entitled is the benefit that can be provided
from the participant's account.
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(Continued)
4.
CENTRUE BANK 401(K) PROFIT
SHARING PLAN AND TRUST
(formerly known as UnionBancorp, Inc.
401(k) Profit Sharing Plan)
December 31, 2006 and 2005
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NOTE 1 - DESCRIPTION OF THE PLAN (Continued)
Upon termination of a participant, the portion of the employer contribution
account not vested will be forfeited and allocated to eligible participants as
of the last day of the plan year for which the terminated participant receives a
distribution.
Retirement, Death, and Disability: A participant is entitled to 100% of his or
her account balance upon attainment of early retirement age (55) and completion
of six years of service or attainment of normal retirement age (65), death, or
disability.
Vesting: Participants are immediately vested in their voluntary contributions
and any employer safe-harbor contributions, plus actual earnings thereon. In the
event that the Company makes matching contributions in excess of safe-harbor
contributions, a participant would be 100% vested after six years of service for
plan years beginning after December 31, 2001 in accordance with the table below.
Years of Service Percent Vested
---------------- --------------
Less than two 0%
Two 20
Three 40
Four 60
Five 80
Six 100
Prior to December 31, 2001, participants were 100% vested after seven years.
Payment of Benefits: Upon retirement, death, disability, or other termination of
employment with the Company, participants or designated beneficiaries may
receive distributions of their vested accounts in lump-sum cash amounts.
Adoption of New Accounting Standard: The Plan retroactively adopted Financial
Accounting Standards Board (FASB) Staff Position AAG INV-1 and SOP 94-4-1,
Reporting of Fully Benefit-Responsive Investment Contracts Held by the Certain
Investment Companies Subject to the AICPA Investment Company Guide and
Defined-Contribution Health and Welfare and Pension Plans ("the FSP") in 2006.
Pursuant to the adoption of the FSP, fully benefit-responsive investment
contracts included in the underlying investments of common collective trust
funds in which the Plan holds an interest are to be presented at fair value. In
addition, any material difference between the fair value of these investments
and their contract value is to be presented as a separate adjustment line in the
statement of net assets available for benefits, because contract value remains
the relevant measurement attribute for that portion of net assets available for
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(Continued)
5.
CENTRUE BANK 401(K) PROFIT
SHARING PLAN AND TRUST
(formerly known as UnionBancorp, Inc.
401(k) Profit Sharing Plan)
December 31, 2006 and 2005
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NOTE 1 - DESCRIPTION OF THE PLAN (Continued)
benefits attributable to fully benefit-responsive investment contracts. The
adoption of the FSP had no impact on the net assets available for benefits as of
December 31, 2006 or 2005. There is no adjustment from fair value to contract
value for fully benefit-responsive contracts reported in the 2005 statement of
net assets available for benefits, as the Plan did not have a direct or indirect
interest in fully benefit-responsive contracts at December 31, 2005. The net
depreciation reported in the Plan's statement of changes in net assets available
for benefits has not been impacted by the adoption of the FSP either, as the
amount reflect the contract value of fully benefit-responsive contracts held
directly or indirectly by the Plan.
Loan Provisions: Participants may borrow up to 50% of their vested account
balance up to a maximum of $50,000. Loan transactions are treated as a transfer
from the investment fund to the participant notes fund. Loan terms range from
one to five years except for the purchase of a primary residence, which may be
for a reasonable period of time. Loans are secured by the balance in the
participant's account and bear interest at a rate commensurate with the local
prevailing rates as determined quarterly by the plan administrator. Interest
rates on loans outstanding at December 31, 2006 range from 5% to 10.50%.
Principal and interest are paid ratably through semi-monthly payroll deductions,
and repayments are reinvested into the participant's account according to the
current investment election.
Investment Options: Upon enrollment in the Plan, a participant may direct
contributions in the investment options made available by the Administrator. The
employee may elect to direct these contributions in multiples of 5%. Employer
contributions are allocated in the same percentages that the employee has
elected. The Plan offers various investment options, including Centrue Financial
Corporation common stock. Plan participants are allowed to reallocate funds
between investment options on a daily basis.
NOTE 2 - SUMMARY OF ACCOUNTING POLICIES
Accounting Method: The Plan uses the accrual basis of accounting based on
accounting principles generally accepted in the United States of America.
Estimates: The preparation of financial statements in conformity with U.S.
generally accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of income and expenses during the reporting
period. Actual results could differ from those estimates.
--------------------------------------------------------------------------------
(Continued)
6.
CENTRUE BANK 401(K) PROFIT
SHARING PLAN AND TRUST
(formerly known as UnionBancorp, Inc.
401(k) Profit Sharing Plan)
December 31, 2006 and 2005
--------------------------------------------------------------------------------
NOTE 2 - SUMMARY OF ACCOUNTING POLICIES (Continued)
Investment Valuation and Income Recognition: The Plan's investments are stated
at fair value. The fair values of the Plan's interests in common collective
trust funds are based upon the net asset values of the funds as reported by the
Plan custodian. Securities traded on a national securities exchange are valued
at the last reported sales price on the last business day of the plan year. The
fair value of employer common stock is based on quoted market prices. The fair
values of the Plan's interests in stable value funds are based upon the net
assets values of such funds reflecting all investments at fair value, including
direct and indirect interests in fully benefit-responsive contracts, as reported
by the fund managers. Purchases and sales of investments are accounted for on
the trade date. Dividend income is recorded on the ex-dividend date. Income from
other investments is recorded as earned. Participant loans are carried at their
remaining balance, which approximates fair value.
Risks and Uncertainties: The Plan provides for various investment options in
common collective trust funds, mutual funds and employer stock. The underlying
investment securities are exposed to various risks, such as interest rate,
market, and credit risks. Due to the level of risk associated with certain
investment securities and the level of uncertainty related to changes in the
value of investment securities, it is at least reasonably possible that changes
in the values of investment securities will occur in the near term and that such
changes could materially affect the amounts reported in the statement of net
assets available for benefits and the participants' individual account balances.
NOTE 3 - PLAN TERMINATION
Although it has not expressed any intent to do so, the Company has the right
under the Plan to discontinue its contributions at any time and to terminate the
Plan subject to the provisions of ERISA and its related regulations. In the
event of the Plan's termination, participants will become 100% vested in their
accounts.
--------------------------------------------------------------------------------
(Continued)
7.
CENTRUE BANK 401(K) PROFIT
SHARING PLAN AND TRUST
(formerly known as UnionBancorp, Inc.
401(k) Profit Sharing Plan)
December 31, 2006 and 2005
--------------------------------------------------------------------------------
NOTE 4 - INVESTMENTS
The following table presents the fair value of plan investments as of December
31, 2006 and 2005 that represent 5% or more of the Plan's net assets.
2006 2005
------------ ------------
Investments at fair value
Common collective funds
ABN-AMRO Stable Value Fund $ 935,785 $ --
Lifestyle Moderate Growth Strategy Fund 334,186 --
Federated Kaufmann A Fund Fund 680,234 --
Vanguard Midcap Index Fund 365,130 --
American Funds Growth Fund 469,509 --
Smith Group Asset Management Fund 419,200 --
NWQ Investment Management Fund 589,888 --
American Funds Europacific R4 Fund 564,452 --
Mutual funds
Federated Kaufmann Fund -- 554,268
Federated Capital Appreciation Fund -- 382,166
Federated Mid-Cap Fund -- 380,340
American Balanced Fund -- 465,950
American Euro Pacific Growth Fund -- 392,070
Money market funds
Federated Automated Cash Management Fund -- 909,331
Common stock
Centrue Financial Corporation common stock fund
(formerly known as UnionBancorp, Inc. common
stock fund) (24,955 and 23,975 shares at December 31,
2006 and 2005) 471,661 510,668
During the year ended December 31, 2006, the Plan's investments (including
investments bought, sold, and held during the year) appreciated (depreciated) in
fair value as follows:
Common collective trusts $ 369,926
Mutual funds 268,719
Common stock (166,959)
------------
Net change in fair value $ 471,686
============
For the plan year ended December 31, 2006, the Plan's investments earned
dividends and interest income of $109,899.
--------------------------------------------------------------------------------
(Continued)
8.
CENTRUE BANK 401(K) PROFIT
SHARING PLAN AND TRUST
(formerly known as UnionBancorp, Inc.
401(k) Profit Sharing Plan)
December 31, 2006 and 2005
--------------------------------------------------------------------------------
NOTE 5 - PARTIES-IN-INTEREST TRANSACTIONS
Parties in interest are defined under Department of Labor regulations as any
fiduciary of the Plan, any party rendering service to the Plan, the employer,
and certain others. At December 31, 2006, the Plan held investments in common
collective funds managed by First Mercantile Trust Company (First Mercantile).
First Mercantile is the custodian of the Plan; therefore, these qualify as
party-in-interest investments. At December 31, 2005, all plan assets were
considered to be party-in-interest investments, exclusive of the Plan's
investment in American Funds. The Plan also holds party-in-interest investments
in the form of participant loans at December 31, 2006 and 2005 of $124,115 and
$127,043, respectively.
The Plan allows participants to invest their account balances in the Centrue
Financial Corporation common stock fund (formerly known as UnionBancorp, Inc.
Stock Fund). At December 31, 2006 and 2005, the Plan had $471,661 and $510,668,
respectively, invested in Employer Stock. In 2006, the Plan's investment in
Employer Stock was held through a unitized investment fund managed by First
Mercantile. The Plan held 23,975 and 24,225 shares of Employer stock as of
December 31, 2006 and 2005, respectively.
Professional fees for the audit of the Plan and other administrative costs of
the Plan were paid by the Company. During the Plan year ended December 31, 2006,
the Plan paid administrative fees to the following parties in interest:
Centrue Bank Trust Department Trustee $ 3,385
Federated Investors Recordkeeper 1,225
DC Consultants Recordkeeper 3,750
First Mercantile Custodian 8,545
NOTE 6 - TERMINATED PARTICIPANTS
Included in net assets available for benefits are amounts allocated to
individuals who have elected to withdraw from the Plan but have not been paid as
of the Plan's year end. Amounts allocated to these participants were $17,165 and
$118,870 at December 31, 2006 and 2005, respectively.
--------------------------------------------------------------------------------
(Continued)
9.
CENTRUE BANK 401(K) PROFIT
SHARING PLAN AND TRUST
(formerly known as UnionBancorp, Inc.
401(k) Profit Sharing Plan)
December 31, 2006 and 2005
--------------------------------------------------------------------------------
NOTE 7 - TAX STATUS
The Internal Revenue Service (IRS) has determined and informed the Company by
letter dated November 19, 2001 that the Non-Standardized Profit Sharing Plan
(Prototype) upon which the Company's plan is based is designed in accordance
with applicable sections of the IRC. The Plan has been amended since receiving
the determination letter. However, the Plan administrator believes that the Plan
is designed and continues to be operated in compliance with the applicable
requirements of the IRC, after correction of the matter discussed in the
paragraph immediately below. Therefore, no provision for income taxes has been
included in the Plan's financial statements.
In September 2006, the Department of Labor (DOL) concluded an investigation
pertaining to administrative expenses that were paid by the Plan to the Plan
trustee from 2000 through 2005 which were in excess of amounts allowable under
ERISA. This constituted a prohibited transaction and was considered an
operational deficiency in the Plan's compliance with the applicable
qualification section of the IRC. The Company and Plan's management corrected
the operational deficiency in December 2006 by reimbursing the Plan for fees of
$51,620 that exceeded direct costs, including lost earnings. Per a letter dated
September 7, 2006, the DOL has notified the Company that it will not take
further action on this matter. As of September 2006, the Plan ceased paying
expenses to the Plan trustee. The plan administrator believes that the Plan is
qualified and the related trust is tax exempt as of the financial date.
NOTE 8 - RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
The following is a reconciliation of net assets available for benefits per the
financial statements at December 31, 2006 and 2005 to the Form 5500:
2006 2005
------------ ------------
Net assets available for benefits per the financial statements $ 6,201,638 $ 5,657,073
Amounts allocated to withdrawing participants (17,165) (118,870)
------------ ------------
Net assets available for benefits per the Form 5500 $ 6,184,473 $ 5,538,203
============ ============
The following is a reconciliation of 2006 benefits paid to participants per the
financial statements to benefits paid to participants per the 2006 Form 5500:
Benefits paid to participants per the financial statements $ 1,213,917
Amounts allocated to withdrawing participants at December, 31 2006 17,165
Less: amounts allocated to withdrawing participants at December 31, 2005 (118,870)
------------
Benefits paid to participants per the Form 5500 $ 1,112,212
============
--------------------------------------------------------------------------------
10.
SUPPLEMENTAL SCHEDULES
CENTRUE BANK 401(K) PROFIT
SHARING PLAN AND TRUST
(formerly known as UnionBancorp, Inc.
401(k) Profit Sharing Plan)
December 31, 2006 and 2005
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December 31, 2006
--------------------------------------------------------------------------------
Name of Plan Sponsor: Centrue Financial Corporation
Employer Identification Number: 36-3145350
Three Digit Plan Number: 002
(c)
Description of
(b) Investment, Including
Identity of Maturity Date,
Issue, Borrower, Rate of Interest, (e)
Lessor, or Collateral, Par, (d) Current
(a) Similar Party or Maturity Value Cost** Value
--- ------------- ----------------- ------ -----
Money market funds
------------------
* First
Mercantile FMT/Money Market Fund; 5,417.6483 $ 54,618
* First
Mercantile Common Stock Fund/Money Market Fund 711
Common collective funds
-----------------------
* First
Mercantile ABN-AMRO Stable Value Fund; 90,115.5774 935,785
* First
Mercantile. Vanguard 500 Index Fund ; 18,224.7000 212,538
* First
Mercantile Federated Kaufmann A Fund Fund; 67,086.1624 680,234
* First
Mercantile Vanguard Midcap Index Fund; 36,241.8779 365,130
* First
Mercantile BlackRock Interm Government Bond Fund; 5,308.0794 54,787
* First
Mercantile American Funds Growth Fund; 44,897.6826 469,509
* First
Mercantile Jennison Dryden Small Cap Core Fund; 21,301.6554 214,007
* First
Mercantile Oppenheimer Developing Markets Fund; 11,307.9748 120,425
* First
Mercantile American Funds Europacific R4 Fund; 53,678.5684 564,452
* First
Mercantile Calvert Income A Fund; 18,820.1868 188,804
* First
Mercantile LifeStyle Moderate Growth Strategy Fund; 32,031.9466 334,186
--------------------------------------------------------------------------------
(Continued)
11.
CENTRUE BANK 401(K) PROFIT
SHARING PLAN AND TRUST
(formerly known as UnionBancorp, Inc.
401(k) Profit Sharing Plan)
December 31, 2006 and 2005
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December 31, 2006
--------------------------------------------------------------------------------
Name of Plan Sponsor: Centrue Financial Corporation
Employer Identification Number: 36-3145350
Three Digit Plan Number: 002
--------------------------------------------------------------------------------
(c)
Description of
(b) Investment, Including
Identity of Maturity Date,
Issue, Borrower, Rate of Interest, (e)
Lessor, or Collateral, Par, (d) Current
(a) Similar Party or Maturity Value Cost** Value
--- ------------- ----------------- ------ -----
* First
Mercantile Smith Group Asset Management Fund; 38,741.6604 419,200
* First
Mercantile NWQ Investment Management, LLC Fund; 53,607.1310 589,888
* First
Mercantile BlackRock Capital Management, Inc Fund.; 318.5964 3,193
* First
Mercantile Zevenbergen Capital Investments LLC Fund; 12,932.2063 133,134
* First
Mercantile LifeStyle Conservative Growth Strategy Fund; 606.0051 6,108
* First
Mercantile LifeStyle Aggressive Growth Strategy Fund; 24,931.7861 259,153
Common Stock
------------
* Centrue Bank 23,975 shares 471,661
Participant Loans
-----------------
* Participant loans Interest rates ranging from 5.00% to 10.50% 124,115
-------------
Total investments $ 6,201,638
=============
* Party in interest.
** Not applicable for participant-directed investments.
--------------------------------------------------------------------------------
(Continued)
12.
CENTRUE BANK 401(K) PROFIT
SHARING PLAN AND TRUST
(formerly known as UnionBancorp, Inc.
401(k) Profit Sharing Plan)
December 31, 2006 and 2005
SCHEDULE G, PART III - NONEXEMPT TRANSACTIONS
DECEMBER 31, 2006
--------------------------------------------------------------------------------
Name of plan sponsor: Centrue Financial Corporation
Employer identification number: 36-3145350
Three-digit plan number: 002
(b) (g)
(a) Relationship to plan, Expenses incurred
Identity of Party employer, or other (c) in connection with
Involved party-in-interest Description of transaction transaction
------------------ ------------------ --------------------------- ------------
UnionBancorp, Inc. Trustee Administrative fees charged $51,620.23
to plan in excess of related
party's direct expenses of
plan administration.
--------------------------------------------------------------------------------
13.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the trustees (or other persons who administer the employee benefit plan) have
duly caused this annual report to be signed on its behalf by the undersigned
hereunto duly authorized.
CENTRUE FINANCIAL CORPORATION
401(k) PROFIT SHARING PLAN
Date: June 28, 2007 By: /s/ KURT R. STEVENSON
--------------------------------------
Kurt R. Stevenson
Senior Executive Vice President, Chief
Operating Officer and Chief Executive
Officer
CENTRUE FINANCIAL CORPORATION 401(k) PROFIT SHARING PLAN
EXHIBIT INDEX
TO
ANNUAL REPORT ON FORM 11-K
Exhibit
No. Description
--------------------------------------------------------------------------------
23.1 Consent of Crowe Chizek and Company LLC