<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Information Statement Pursuant to Rule 13d-1 and 13d-2
Under the Securities Exchange Act of 1934
(Amendment No. ____)
CAROLINA FINCORP, INC.
---------------------------------
(Name of Issuer)
Common Stock, no par value
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(Title of Class of Securities)
143874 10 5
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(CUSIP Number)
*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 after the
disclosures provided in a prior cover page.
The information required in 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).
(Continued on following pages)
Page 1 of 5 Pages
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CUSIP No. 840468 10 2 13G Page 2 of 6 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST OF RICHMOND SAVINGS
BANK, INC., SSB
56-1998862
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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 CITIZENSHIP OR PLACE OF ORGANIZATION
NORTH CAROLINA
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5 SOLE VOTING POWER
NUMBER OF 105,250
SHARES -------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING -------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
105,250
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8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
105,250
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.7%
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12 TYPE OF REPORTING PERSON*
EP: EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST OF RICHMOND
SAVINGS BANK, INC., SSB
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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Item 1(a). Name of Issuer:
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Carolina Fincorp, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
- --------- -----------------------------------------------
115 South Lawrence Street
P.O. Box 1597
Rockingham, North Carolina 28380-1597
Item 2(a). Name of Person Filing:
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Employee Stock Ownership Plan and Trust of
Richmond Savings Bank, Inc., SSB
Item 2(b). Address of Principal Business Office:
- --------- ------------------------------------
115 South Lawrence Street
P.O. Box 1597
Rockingham, North Carolina 28380-1597
Item 2(c). Citizenship or Place of Organization:
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North Carolina
Item 2(d). Title of Class of Securities:
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Common Stock, no par value
Item 2(e). CUSIP Number:
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143874 10 5
Item 3. Statement is Filed Pursuant to Rule 13d-1(b):
- ------ --------------------------------------------
(f) Employee Benefit Plan, Pension Fund which is subject to
the provisions of the Employee Retirement Income
Security Act of 1974.
Page 3 of 5 Pages
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Item 4. Ownership:
- ------ ---------
(a) Amount Beneficially Owned: 105,250 shares
(b) Percent of Class: 5.7%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 105,250
(ii) shared power to vote or to direct the vote: 0
(iii) sole power to dispose or to direct the
disposition of: 105,250
(iv) shared power to dispose or to direct the
disposition of: 0
Item 5. Ownership of Five Percent or Less of a Class:
- ------ --------------------------------------------
Not applicable
Item 6. Ownership of More Than Five Percent on Behalf of Another Person:
- ------ ---------------------------------------------------------------
Not applicable
Item 7. Identification and Classification of the Subsidiary Which
- ------ ---------------------------------------------------------
Acquired the Security Being Reported on By the Parent Holding
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Company:
-------
Not applicable
Item 8. Identification and Classification of Members of the Group:
- ------ ---------------------------------------------------------
Not applicable
Item 9. Notice of Dissolution of Group:
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Not applicable
Page 4 of 5 Pages
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Item 10. Certification:
- ------- -------------
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary course
of business and were not acquired for the purpose of and do not have the effect
of changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: May , 1997
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, not individually but
-----------------
solely as trustee under that certain
Richmond Savings Bank, Inc., SSB
Employee Stock Ownership Trust
effective as of July 1, 1996 by and
between the above signed and Richmond
Savings Bank, Inc., SSB
---------------------------------------
, not individually but
-----------------
solely as trustee under that certain
Richmond Savings Bank, Inc., SSB
Employee Stock Ownership Trust
effective as of July 1, 1996 by and
between the above signed and Richmond
Savings Bank, Inc., SSB
---------------------------------------
, not individually but
-----------------
solely as trustee under that certain
Richmond Savings Bank, Inc., SSB
Employee Stock Ownership Trust
effective as of July 1, 1996 by and
between the above signed and Richmond
Savings Bank, Inc., SSB
Page 5 of 5 Pages
