<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB/A-2
[X] Quarterly Report Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934 for the period ended September
30, 1999
[ ] Transition report under Section 13 or 15(d) of the Exchange
Act for the transition period from _____ to _____
Commission file number: 000-21383
APPALACHIAN BANCSHARES, INC.
(Exact name of small business issuer as specified in its charter)
Georgia 58-2242407
(State of Incorporation) (I.R.S. Employer Identification No.)
829 Industrial Blvd.
Ellijay, Georgia 30540
(Address of principal executive offices)
(706) 276-8000
(Issuer's telephone number, including area code)
Check whether the issuer (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12
months (or for such shorter period that the registrant was required to file such
reports), and (2) has been subject to such filing requirements for the past 90
days. Yes [ X ] No [ ]
State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date:
<TABLE>
<CAPTION>
Class Outstanding at October 29, 1999
----- -------------------------------
<S> <C>
Common Stock, $5.00 par value 1,333,224
</TABLE>
Transitional Small Business Disclosure Format: Yes [ ] No [X]
<PAGE> 2
Appalachian Bancshares, Inc. (the "Company") is filing this amendment
number 2 on Form 10-QSB/A-2 to the Company's quarterly report on Form 10-QSB for
the quarter ended September 30, 1999 (the "Original Report"), as amended on
December 2, 1999 on Form 10-QSB/A-1 (the "First Amendment"), in order to amend
and restate the financial data schedule contained as Exhibit No. 27 in the
Original Report and the First Amendment. This Second Amendment speaks as of the
original date of filing the Original Report.
SIGNATURES
Under the requirements of the Securities Exchange Act of 1934, the
Company has caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
Dated: December 2, 1999
APPALACHIAN BANCSHARES, INC.
By: /s/ Tracy R. Newton
-------------------------------------
Tracy R. Newton
President and CEO
(Duly authorized officer)
By: /s/ Kent W. Sanford
--------------------------------------
Kent W. Sanford
Executive Vice President
(Principal financial officer)
16
<TABLE> <S> <C>
<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS CONTAINED IN FORM 10-QSB, AS AMENDED, OF APPALACHIAN
BANCSHARES, INC. FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1999 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> SEP-30-1999
<EXCHANGE-RATE> 1
<CASH> 4,976,922
<INT-BEARING-DEPOSITS> 207,730
<FED-FUNDS-SOLD> 1,493,557
<TRADING-ASSETS> 0
<INVESTMENTS-HELD-FOR-SALE> 27,814,766
<INVESTMENTS-CARRYING> 5,800,810
<INVESTMENTS-MARKET> 5,687,828
<LOANS> 159,746,144
<ALLOWANCE> 1,933,510
<TOTAL-ASSETS> 207,237,912
<DEPOSITS> 179,889,497
<SHORT-TERM> 1,026,030
<LIABILITIES-OTHER> 1,116,280
<LONG-TERM> 13,335,714
0
0
<COMMON> 6,886,120
<OTHER-SE> 4,984,270
<TOTAL-LIABILITIES-AND-EQUITY> 207,237,912
<INTEREST-LOAN> 10,090,189
<INTEREST-INVEST> 1,415,933
<INTEREST-OTHER> 329,939
<INTEREST-TOTAL> 11,836,061
<INTEREST-DEPOSIT> 5,989,106
<INTEREST-EXPENSE> 6,655,054
<INTEREST-INCOME-NET> 5,181,007
<LOAN-LOSSES> 640,000
<SECURITIES-GAINS> 8,056
<EXPENSE-OTHER> 3,936,433
<INCOME-PRETAX> 1,254,933
<INCOME-PRE-EXTRAORDINARY> 1,254,933
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 851,330
<EPS-BASIC> .64
<EPS-DILUTED> .60
<YIELD-ACTUAL> 3.69
<LOANS-NON> 656,000
<LOANS-PAST> 14,000
<LOANS-TROUBLED> 0
<LOANS-PROBLEM> 302,416
<ALLOWANCE-OPEN> 1,686,395
<CHARGE-OFFS> 427,000
<RECOVERIES> 35,000
<ALLOWANCE-CLOSE> 1,933,510
<ALLOWANCE-DOMESTIC> 1,933,510
<ALLOWANCE-FOREIGN> 0
<ALLOWANCE-UNALLOCATED> 0
</TABLE>
