UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

 FORM 8‑K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): January 28, 2008

FIRST CHARTER CORPORATION
 (Exact name of registrant as specified in its charter)

 

North Carolina

0-15829

56-1355866

(State or other

(Commission

(IRS Employer

jurisdiction of

File Number)

Identification No.)

incorporation)

 

10200 David Taylor Drive, Charlotte, North Carolina 28262-2373
 (Address of principal executive offices, including zip code)

(704) 688-4300
 (Registrant's telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

-------------------------------------------------------------

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:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.01 Entry into a Material Definitive Agreement.

On January 28, 2008, upon the recommendation of its Compensation Committee, the Board of Directors (the "Board") of First Charter Corporation (the "Registrant") approved a one-time payment of additional cash compensation for director, Jewell D. Hoover ("Ms. Hoover"), in the amount of $5,000.  The payment to Ms. Hoover is in recognition of her additional services to the Board in working with the Board's Audit Committee to monitor management's progress in fulfilling a remediation plan regarding certain of the Registrant's past accounting policies, estimates and related matters.


 SIGNATURES

 

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.

FIRST CHARTER CORPORATION

 

By:  

 /s/ STEPHEN J. ANTAL

Stephen J. Antal
Executive Vice President, General Counsel
and Secretary

Dated: January 30, 2008