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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )*
REPUBLIC BANCSHARES, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, PAR VALUE $2.00 PER SHARE
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(Title of Class of Securities)
759929102000
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(CUSIP Number)
Ms. Mia Jensen, c/o The Burton Partnership, Limited Partnership
Post Office Box 4643, Jackson, Wyoming 83001
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
7/8/96
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box / /.
Check the following box if a fee is being paid with the statement /X/. (A fee
is not required only if the reporting person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
<PAGE> 2
SCHEDULE 13D
CUSIP NO. 759929102000 PAGE 2 OF 7 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Burton Partnership, Limited Partnership
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
CO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware limited partnership
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7 SOLE VOTING POWER
NUMBER OF
SHARES 253,370 shares
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING -0-
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
253,370 shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.1%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 3
SCHEDULE 13D
CUSIP NO. 759929102000 PAGE 3 OF 7 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Donald W. Burton
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
CO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER
NUMBER OF
SHARES 253,370 shares
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING -0-
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
253,370 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 4
CUSIP NO. 759929102000 SCHEDULE 13D PAGE 4 OF 7 PAGES
ITEM 1. SECURITY AND ISSUER
- ---------------------------
This statement relates to shares of Common Stock, Par Value $2.00 Per
Share (the "Shares"), of Republic Bancshares, Inc. (the "Company"), having its
principal executive offices at 111 2nd Avenue NE, St. Petersburg, FL 33701.
ITEM 2. IDENTITY & BACKGROUND
- -----------------------------
This statement is being filed by The Burton Partnership, Limited
Partnership having its principal business and office at P.O. Box 4643, Jackson,
Wyoming 83001; and the general partner of The Burton Partnership, Limited
Partnership, Donald W. Burton. The principal business of The Burton
Partnership, Limited Partnership is investment in public and private stocks.
The general partner's principal occupation is an investor.
The business address of the general partner is c/o The Burton
Partnership, Limited Partnership.
During the five years prior to the date hereof, neither The Burton
Partnership, Limited Partnership nor its general partner has been convicted in
a criminal proceeding or has been a party to a civil proceeding ending in a
judgment, decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, federal or state securities laws or finding
any violation with respect to such laws.
The general partner is a United States citizen.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
- ---------------------------------------------------------
The Burton Partnership, Limited Partnership acquired a total of 253,370
shares of Republic Bancshares, Inc. through the initial public offering, rights
offering and other open market transactions during a period beginning December
17, 1993 and ending July 8, 1996 at prices ranging from $8.00 to $13.3125 per
share, for an aggregate purchase price of $2,638,500.00.
No part of the purchase price paid by The Burton Partnership, Limited
Partnership for shares was represented by funds or other consideration borrowed
or otherwise obtained for the purpose of acquiring, holding, trading or voting
shares of Republic Bancshares, Inc.
<PAGE> 5
CUSIP NO. 759929102000 SCHEDULE 13D PAGE 5 OF 7 PAGES
ITEM 4. PURPOSE OF THE TRANSACTION
- ----------------------------------
The Burton Partnership, Limited Partnership has purchased the Shares
for investment purposes only.
a. Depending on market conditions, its continuing evaluation of the
business and prospects of Republic Bancshares, Inc. and other factors, The
Burton Partnership, Limited Partnership, may buy or sell additional Shares in
the open market. Neither The Burton Partnership, Limited Partnership, nor the
general partner has any present plans which relate to or would result in:
b. An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving Republic Bancshares, Inc. or any of
its subsidiaries;
c. A sale or transfer of a material amount of assets of Republic
Bancshares, Inc. or any of its subsidiaries;
d. Any change in the present board of directors or management of the
issuer, including any plans or proposals to change the number of term directors
or to fill any existing vacancies on the board;
e. Any material change in the present capitalization or dividend
policy of Republic Bancshares, Inc.;
f. Any other material change in Republic Bancshares, Inc. business or
corporate structure, including, but not limited to, if Republic Bancshares is a
closed-end investment company, any plans or proposals to make any changes in
its investment policy for which a vote is required by section 13 of the
Investment Company Act of 1940;
g. Changes in Republic Bancshares, Inc.'s charter or bylaws or other
actions which may impede the acquisition of control of Republic Bancshares,
Inc. by any person;
h. Causing a class of securities of Republic Bancshares, Inc. to be
delisted from a national securities exchange or to cease to be authorized to be
quoted in an inter-dealer quotation system of a registered national securities
association;
i. A class of equity securities of Republic Bancshares, Inc. becoming
eligible for termination of registration pursuant to Section 12(g)(4) of the
Securities Exchange Act of 1934; or
j. Any action similar to any of those enumerated above.
<PAGE> 6
CUSIP NO. 759929102000 SCHEDULE 13D PAGE 6 OF 7 PAGES
ITEM 5. INTEREST IN SECURITIES AND THE ISSUER.
- ----------------------------------------------
By virtue of his status as general partner of The Burton Partnership,
Limited Partnership, Donald W. Burton may thus be deemed to be beneficial owner
of the 253,370 shares which The Burton Partnership, Limited Partnership owns of
record, representing 5.1% of the Company. Donald W. Burton may thus be deemed
to share with The Burton Partnership, Limited Partnership the power to direct
the voting and disposition of the shares which The Burton Partnership, Limited
Partnership own of record.
The aggregate 253,370 shares purchased by The Burton Partnership,
Limited Partnership were obtained in the following transactions, including the
initial public offering, rights offering and other open market transactions.
<TABLE>
<CAPTION>
(1) (2) (3) (4) (5)
Person Who
Effected Settlement Date Number of Price Per Brokerage House & How
Transaction of Transaction Shares Share Transaction Was Effected
- ----------- --------------- --------- --------- ------------------------
<S> <C> <C> <C> <C>
General Partner 12/17/93 100,000 $ 8.000 William R. Hough-IPO
General Partner 12/17/93 18,375 $ 8.000 Robert W. Baird-IPO
General Partner 12/21/93 1,500 $10.000 William R. Hough-Purchase
General Partner 5/16/95 1,500 $12.250 William R. Hough-Purchase
General Partner 5/25/95 5,600 $12.188 William R. Hough-Purchase
General Partner 5/30/95 3,000 $12.125 William R. Hough-Purchase
General Partner 6/01/95 1,000 $12.125 William R. Hough-Purchase
General Partner 6/27/95 1,120 $12.500 William R. Hough-Rights
General Partner 6/27/95 24,275 $12.500 Allen C. Ewing-Rights
General Partner 6/27/95 20,000 $12.500 William R. Hough-Purchase
General Partner 6/27/95 8,000 $12.500 Allen C. Ewing-Purchase
General Partner 6/27/95 12,000 $12.500 Allen C. Ewing-Purchase
General Partner 6/27/95 15,000 $12.500 Ryan Beck & Co.-Purchase
General Partner 6/20/96 4,000 $13.125 Allen C. Ewing-Purchase
General Partner 6/14/96 5,000 $13.250 Allen C. Ewing-Purchase
General Partner 6/14/96 5,000 $13.3125 Allen C. Ewing-Purchase
General Partner 6/21/96 8,000 $13.0625 Allen C. Ewing-Purchase
General Partner 7/03/96 10,000 $12.3125 Allen C. Ewing-Purchase
General Partner 7/03/96 5,000 $13.375 Allen C. Ewing-Purchase
General Partner 7/08/96 5,000 $12.375 Allen C. Ewing-Purchase
TOTAL 253,370 $2,638,500.00
</TABLE>
No other person is known to have the right to receive or the power to
direct the receipt of dividends from, or any proceeds from the sale of, the
shares beneficially owned by The Burton Partnership, Limited Partnership and
the general partner.
<PAGE> 7
CUSIP NO. 759929102000 SCHEDULE 13D PAGE 7 OF 7 PAGES
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
- -----------------------------------------------------------------------------
Except as described elsewhere herein, there are no contracts,
arrangements, understandings or relationships (legal or otherwise) among The
Burton Partnership, Limited Partnership and the general partner or between any
such person and any other person with respect to securities of Republic
Bancshares Inc., including, but not limited to, transfer or voting of any of
the securities, finder's fees, joint ventures, loan or option arrangements,
puts or calls, guarantees of profits, division of profits or loss or the giving
or withholding of proxies.
SIGNATURE
- ---------
After reasonable inquiry and to the best of our knowledge and belief,
we certify that the information set forth in this statement is true, complete
and correct.
Dated: July 26, 1996 The Burton Partnership, Limited Partnership
By: /s/ DONALD W. BURTON
---------------------------------
Donald W. Burton, General Partner
