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<SEC-DOCUMENT>0000008177-09-000024.txt : 20090918
<SEC-HEADER>0000008177-09-000024.hdr.sgml : 20090918
<ACCEPTANCE-DATETIME>20090918161734
ACCESSION NUMBER:		0000008177-09-000024
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090918
ITEM INFORMATION:		Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090918
DATE AS OF CHANGE:		20090918

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ATLANTIC AMERICAN CORP
		CENTRAL INDEX KEY:			0000008177
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		IRS NUMBER:				581027114
		STATE OF INCORPORATION:			GA
		FISCAL YEAR END:			0228

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-03722
		FILM NUMBER:		091077028

	BUSINESS ADDRESS:	
		STREET 1:		4370 PEACHTREE RD NE
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30319
		BUSINESS PHONE:		4042665500

	MAIL ADDRESS:	
		STREET 1:		4370 PEACHTREE ROAD
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30319
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form_8krepurchase2009.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>

<HTML>
<HEAD>
<TITLE>Form 8-K 2009</title>
</head>
<body>
<BR><BR><BR>
<p align=center><font size=3 face="times new roman"> UNITED STATES <BR>SECURITIES AND EXCHANGE COMMISSION<BR>
 Washington, D.C. 20549</font></p><BR>

<p align=center><font size=3 face="times new roman"><b>FORM 8-K</b></font></p><BR>

<p align=center><font size=3 face="times new roman"> Current Report<BR>
                                                Pursuant to Section 13 or 15(d) of the<BR>
                                                    Securities Exchange Act of 1934<BR></font></p><BR>
<table align=center width=670 cellspacing=0 cellpadding=2 border=0>
<tr>
<td width=33.3%></td>
<td width=33.3%></td>
<td width=33.3%></td>
</tr>
<tr>
<td colspan=3><font size=3 face="times new roman">Date of Report (Date of Earliest Event Reported):
 September 18, 2009 (September 15, 2009)</font></td>
</tr>
</table>

<p align=center><font size=3 face="times new roman"><b> ATLANTIC AMERICAN CORPORATION</b><BR></font>
                                      <font size=1 face="times new roman">
(Exact Name of Registrant as Specified in Its Charter)</font></p><BR><BR><BR>


<table align=center width=670 cellspacing=0 cellpadding=2 border=0>
<tr>
<td width=33.3%></td>
<td width=33.3%></td>
<td width=33.3%></td>
</tr>
<tr>

<td align=center><font size=3 face="times new roman"> Georgia<BR>
</font><font size=1 face="times new roman">(State or Other Jurisdiction of Incorporation)</font></td>
<td align=center><font size=3 face="times new roman">0-3722<BR></font>
<font size=1 face="times new roman"> (Commission File Number)</font></td>
<td align=center><font size=3 face="times new roman">58-1027114<BR></font>
<font size=1 face="times new roman">(I.R.S. Employer Identification No.)</font></td>
</tr>
<tr>
<td colspan=3>&nbsp;</td>
</tr>
<tr>

<td><font size=3 face="times new roman">4370 Peachtree Rd., N.E.<BR>
Atlanta, Georgia <BR></font><font size=1 face="times new roman">(Address of Principal Executive Offices)</font></td>
<td>&nbsp;</td>
<td align=center><font size=3 face="times new roman">30319<BR>
</font><font size=1 face="times new roman">(Zip Code)</font></td>
</tr>
</table>
 <BR><BR>
<table align=center width=550 cellspacing=0 cellpadding=2 border=0>
<tr>
<td width=33.3%></td>
<td width=33.3%></td>
<td width=33.3%></td>
</tr>
<tr>
<td colspan=3><font size=3 face="times new roman">Registrant's Telephone Number, Including Area Code:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(404) 266-5500</font></td>
</tr>
</table>
<BR><BR>

<table align=center width=670 cellspacing=0 cellpadding=2 border=0>
<tr>
<td width=33.3%></td>
<td width=33.3%></td>
<td width=33.3%></td>
</tr>
<tr>
<td colspan=3 align=center><font size=3 face="times new roman">N/A</font></td>
</tr>
<tr>
<td><hr noshade width=670 size=1></td>
</tr>
<tr>
<td colspan=3 align=center><font size=1 face="times new roman">(Former Name or former address, if changed since last report)</font></td>
</tr>
</table>

<BR><BR>

<table align=center width=670 cellspacing=0 cellpadding=2 border=0>
<tr>
<td width=5%></td>
<td width=5%></td>
<td width=90%></td>
</tr>
<tr>
<td colspan=3><font size=3 face="times new roman">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:</font></td>
</tr>
<tr>
<td colspan=3>&nbsp;</td>
</tr>
<tr>
<td align=center>&#143;</td>

<td colspan=2><font size=3 face="times new roman">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
</font></td>
</tr>
<tr>
<td align=center>&#144;</td>

<td colspan=2><font size=3 face="times new roman">Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)</font></td>
</tr>
<tr>
<td align=center>&#144;<BR>&nbsp;</td>

<td colspan=2><font size=3 face="times new roman">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))</font></td>
</tr>
<tr>
<td align=center>&#144;<BR>&nbsp;</td>

<td colspan=2><font size=3 face="times new roman">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))</font></td>
</tr>
</table>


<BR><BR>






<hr noshade size=2>
<PAGE>
<H5 align="left" style="page-break-before:always"></H5>







<table width=670 cellspacing=0 cellpadding=2 border=0>
<tr>
<td width=15%>&nbsp;</td>
<td width=5%>&nbsp;</td>
<td width=30%>&nbsp;</td>
<td width=20%>&nbsp;</td>
<td width=30%>&nbsp;</td>
</tr>

<tr>
<td colspan=4>&nbsp;</td>
</tr>
<tr>
<td colspan=5><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>Section 3 - Securities and Trading Markets<BR>&nbsp;</b></font></td>
</tr>
<tr>
<td><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>Item 3.01<BR>&nbsp;</b></font></td>

<td colspan=3><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>Notice of Delisting or Failure to Satisfy a Continued Listing<BR>Rule or Standard; Transfer of listing</b></font></td>
</tr>
<tr>
<td colspan=5>&nbsp;</td>
</tr>

<tr>
<td colspan=5><FONT FACE="Times New Roman, Times, Serif" SIZE=2>On September 15, 2009,
Atlantic American Corporation (the &#147;Company&#148;) received from The Nasdaq
Stock Market (&#147;Nasdaq&#148;) Listing Qualifications Department a Deficiency
Letter, indicating that the Company was not in compliance with the minimum $1.00
bid price requirement for the continued listing of its common stock on The
Nasdaq Global Market, as set forth in Nasdaq Marketplace Rule 5450(a)(1) (the
&#147;Minimum Bid Price Rule&#148;), because the price of the Company&#146;s
common stock did not close at or above the minimum closing bid price of $1.00
per share for a period of 30 consecutive business days. In accordance with
Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has 180 calendar days, or
until March 15, 2010, to regain compliance with such requirement.</font></td>
</tr>
<tr>
<td colspan=5>&nbsp;</td>
</tr>
<tr>
<td colspan=5><FONT FACE="Times New Roman, Times, Serif" SIZE=2>If at any time before March
15, 2010, the bid price per share of the Company&#146;s common stock closes at
$1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq
will notify the Company in writing that the Company has achieved compliance with
the Minimum Bid Price Rule. If the Company does not regain compliance with the
Minimum Bid Price Rule by March 15, 2010, the letter indicates that Nasdaq will
notify the Company that the Company&#146;s common stock will be delisted from
The Nasdaq Stock Market. At such time, the Company may appeal Nasdaq&#146;s
determination to delist the Company&#146;s common stock to a Listings
Qualification Panel. Alternatively, in the event that such a delisting
determination is based solely on non-compliance with the Minimum Bid Price Rule,
the Company may elect to transfer the listing of its common stock to The Nasdaq
Capital Market provided that the Company satisfies all criteria for initial
listing on such market as set forth in Nasdaq Marketplace Rule 5505, other than
compliance with the Minimum Bid Price Rule. There can be no assurance the staff
would grant the Company&#146;s request for continued listing nor the application
for a transfer of the Company&#146;s common stock to the Nasdaq Capital Market. </font></td>
</tr>
<tr>
<td colspan=5>&nbsp;</td>
</tr>
<tr>
<td colspan=5><FONT FACE="Times New Roman, Times, Serif" SIZE=2>A copy of the press release
announcing the Company&#146;s receipt of the letter described above is attached
hereto as Exhibit 99.1. The third and fourth paragraphs thereof relating to such
letter are incorporated by reference herein. </font></td>
</tr>



</table>


<table width=670 cellspacing=0 cellpadding=2 border=0>
<tr>
<td width=15%>&nbsp;</td>
<td width=5%>&nbsp;</td>
<td width=30%>&nbsp;</td>
<td width=20%>&nbsp;</td>
<td width=30%>&nbsp;</td>
</tr>

<tr>
<td colspan=4>&nbsp;</td>
</tr>

<tr>
<td colspan=5><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>Section 9 - Financial Statements and Exhibits<BR>&nbsp;</b></font></td>
</tr>
<tr>
<td><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>Item 9.01</b></font></td>

<td colspan=3><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>Financial
Statements and Exhibits</b></font></td>
</tr>

<tr>
<td><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b><u>Exhibit No.</u></B></font></td>
<td>&nbsp;</td>
<td><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u><b>Description</b></u></font></td>
<td>&nbsp;</td>
</tr>
<tr>
<td valign=top><FONT FACE="Times New Roman, Times, Serif" SIZE=2>99.1</font></td>
<td>&nbsp;</td>
<td colspan=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Press Release, dated September 18, 2009</font></td>
<td>&nbsp;</td>
</tr>

</table>







<hr noshade size=2>
<PAGE>
<H5 align="left" style="page-break-before:always"></H5>











<p align=center><font size=2 face="times new roman"><b> SIGNATURE</b></font></p>
<p><font size=2 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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.</font></p>

<table align=center width=650 cellpadding=5 cellspacing=0 border=0>
<tr>
<td width=50%>
</td>
<td width=50%>
</td>
</tr>
<tr>
<td>&nbsp;</td>
<td><font size=2 face="times new roman"><b>ATLANTIC AMERICAN CORPORATION</b></font></td>
</tr>
</table>

<table align=center width=650 cellpadding=0 cellspacing=0 border=0>
<tr>
<td width=50%>
</td>
<td width=50%>
</td>
</tr>
<tr>
<td colspan=2>&nbsp;</td>
</tr>
<tr>
<td>&nbsp;</td>
<td><font size=2 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ John G. Sample, Jr.</font><hr size=1 noshade></td>
</tr>
<tr>
<td>&nbsp;</td>
<td><font size=2 face="times new roman">&nbsp;&nbsp;&nbsp;By:&nbsp;&nbsp;&nbsp;&nbsp;John G. Sample, Jr.<BR>
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President and Chief Financial Officer</font></td>
</tr>
</table>

<p><font size=2 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;Date: &nbsp;&nbsp;September 18, 2009</font></p>
<BR><BR><BR>





<hr noshade size=2>
<H5 align="left" style="page-break-before:always"></H5>
<PAGE>






<p align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>EXHIBIT INDEX</b></font></p>

<table width=680 cellspacing=0 cellpadding=2 border=0>
<tr>
<td width=10%>&nbsp;</td>
<td width=20%>&nbsp;</td>
<td width=40%>&nbsp;</td>
<td width=15%>&nbsp;</td>
</tr>
<tr>
<td>&nbsp;</td>
<td><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u><b>Exhibit No.</B></u></font></td>
<td colspan=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u><b>Exhibit Description</b></u></font></td>
</tr>
<tr>
<td>&nbsp;</td>
<td valign=top><FONT FACE="Times New Roman, Times, Serif" SIZE=2>99.1</font></td>
<td colspan=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Press Release, dated September 18, 2009</font></td>
</tr>

</table>


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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>pressrelease09182009.htm
<DESCRIPTION>PRESS RELEASE DATED SEPTEMBER 18, 2009
<TEXT>




<html>
<head>
<title>
Press Release 09-18-2009
</title>
</head>
<body>

<p align=right><font face="times new roman, serif" size=2><B><U>EXHIBIT 99.1</U></B></font></p>

<p ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>ATLANTIC AMERICAN CORPORATION TO BUY BACK SHARES UNDER PREVIOUSLY<BR>
AUTHORIZED STOCK REPURCHASE PLAN; RECEIVES NASDAQ LETTER</b></font></p>




<P align=justify><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ATLANTA,
Georgia, September 18, 2009 - Atlantic American Corporation
(Nasdaq- AAME) today announced that as part of its previously authorized share
repurchase program, management has approved the recommencement of open-market
share repurchases under its share repurchase plan. Under current Board of
Directors authorizations, the Company has the ability, and currently intends, to
repurchase up to approximately 500,000 of its common shares. Such repurchases
will be made in accordance with applicable securities laws and other
requirements. </FONT></P>

<P align=justify><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#147;The recommencement of
share repurchases underscores management&#146;s confidence in the fundamentals
of our business, the prospects for continued improvement in our financial
performance and the perceived disparity between the trading value and book value
of our common stock,&#148; said Hilton Howell, Chairman, President and Chief
Executive Officer. </FONT></P>

<P align=justify><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Separately, the Company
announced that on September 15, 2009, it received from The Nasdaq Stock Market
(&#147;Nasdaq&#148;) Listing Qualifications Department a Deficiency Letter,
indicating that the Company was not in compliance with the minimum $1.00 bid
price requirement for the continued listing of its common stock on The Nasdaq
Global Market, as set forth in Nasdaq Marketplace Rule 5450(a)(1) (the
&#147;Minimum Bid Price Rule&#148;), because the price of the Company&#146;s
common stock did not close at or above the minimum closing bid price of $1.00
per share for a period of 30 consecutive business days. In accordance with
Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has 180 calendar days, or
until March 15, 2010, to regain compliance with such requirement.</FONT></P>

<P align=justify><FONT FACE="Times New Roman, Times, Serif" SIZE=2>If at any time before March
15, 2010, the bid price per share of the Company&#146;s common stock closes at
$1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq
will notify the Company in writing that the Company has achieved compliance with
the Minimum Bid Price Rule. If the Company does not regain compliance with the
Minimum Bid Price Rule by March 15, 2010, the letter indicates that Nasdaq will
notify the Company that the Company&#146;s common stock will be delisted from
The Nasdaq Stock Market. At such time, the Company may appeal Nasdaq&#146;s
determination to delist the Company&#146;s common stock to a Listings
Qualification Panel. Alternatively, in the event that such a delisting
determination is based solely on non-compliance with the Minimum Bid Price Rule,
the Company may elect to transfer the listing of its common stock to The Nasdaq
Capital Market provided that the Company satisfies all criteria for initial
listing on such market as set forth in Nasdaq Marketplace Rule 5505, other than
compliance with the Minimum Bid Price Rule. </FONT></P>


<P align=justify><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Atlantic American is an
insurance holding company involved through its subsidiary companies in specialty
markets of the life, health, property and casualty insurance industries. Its
principal subsidiaries include American Southern Insurance Company, American
Safety Insurance Company, Bankers Fidelity Life Insurance Company and
Self-Insurance Administrators, Inc.</I></FONT></P>

<P align=justify><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Note regarding Private
Securities Litigation Reform Act: Except for information regarding historical
facts contained herein, this press release contains forward-looking statements
that involve a number of risks and uncertainties. Actual results could differ
materially from those indicated by such forward-looking statements due to a
number of factors and risks detailed from time to time in statements and reports
that Atlantic American Corporation has filed with the Securities and Exchange
Commission.</I></FONT></P>

<P align=justify><FONT FACE="Times New Roman, Times, Serif" SIZE=2>For further information
contact: </FONT></P>

<P align=justify><FONT FACE="Times New Roman, Times, Serif" SIZE=2>John G. Sample, Jr.<BR>
Senior Vice President and Chief Financial Officer<BR>
Atlantic American Corporation<BR>
404-266-5501</font></p>








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</SEC-DOCUMENT>
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