SECURITIES AND EXCHANGE COMMISSION
Washington D. C. 20549
-------------------------------------------------------------------------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
IFB Holdings, Inc.
-------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
-------------------------------------------------------------------------------
(Title of Class of Securities)
448953109
-------------------------------------------------------------------------------
(CUSIP Number)
Edward P. Milbank
522 Washington Street
Chillicothe, MO 64601
660-646-0183
-------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 11, 1999
-------------------------------------------------------------------------------
(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: [ ]
<PAGE>
CUSIP No.448953109 13D
1. Name of reporting person S. S. # or IRS Identification # of above
person.
Edward P. Milbank
2. Check the appropriate box if a member of a group* a [ ] b [ ]
3. SEC use only
4. Source of funds* AF
5. Check box if disclosure of legal proceedings is required pursuant to
items 2 (d) or 2 (e) [ ]
6. Citizenship or place of organization. USA
7. Sole voting power: 27,800
8. Shared voting power: 0
9. Sole dispositive power: 27,800
10. Shared dispositive power: 0
11. Aggregate amount beneficially owned by each reporting person: 27,800
12. Check box if the aggregate amount in row (11) excludes certain shares*
____
13. Percent of class represented by amount in row (11): 5.86%
14. Type or reporting person*:_IN
Page 2 of 9
<PAGE>
SCHEDULE 13D
Item 1. Security and Issuer
State the title of the class of equity securities to which this
statement relates and the name and address of the principal executive offices of
the issuer of such securities.
This statement relates to the common stock, par value $.01 per share
(the "Common Stock") of IFB Holdings, Inc. ("Issuer"). The address of the
principal executive offices of the Issuer is 522 Washington Street, Chillicothe,
MO 64601.
Item 2. Identity and Background
If the person filing this statement or any person enumerated in
Instruction C of this statement is a corporation, general partnership, limited
partnership, syndicate or other group of persons, state its name, the state or
other place of its organization, its principal business, the address of its
principal office and the information required by (d) and (e) of this Item. If
the person filing this statement or any person enumerated in Instruction C is a
natural person, provide the information specified in (a) through (f) of this
Item with respect to such person(s).
(a) Name:
Edward P. Milbank
(b) Residence or Business Address
522 Washington Street
Chillicothe, MO 64601
(c) Present principal occupation or employment and the name, principal
business and address of any corporation or other organization in which
such employment is conducted:
President, Milbank Mills, Inc., Chillicothe, MO 64601 Principal
business: Feed Manufacture
(d) Whether or not, during the last five years, such person has been
convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors) and, if so, give the dates, nature of
conviction, name and location of court, and penalty imposed, or other
disposition of the case:
Edward P. Milbank has not, during the last five years, been convicted
in any criminal proceeding ( excluding traffic violations or similar
misdemeanors.)
Page 3 of 9
<PAGE>
(e) Whether or not, during the last five years, such person was a
party to a civil proceeding of a judicial or administrative body
of competent jurisdiction and as a result of such proceeding was
or is subject to 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; and, if so, identify and
describe such proceedings and summarize the terms of such
judgment, decree or final order; and
During the last five years, Edward P. Milbank has not been a party
to a civil proceeding of a judicial or administrative body of
competent jurisdiction and has not, as a result of such
proceeding, been subject to 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.
(f) Citizenship:
Edward P. Milbank is a United States citizen.
Item 3. Source and Amount of Funds or Other Consideration.
State the source and the amount of funds or other consideration used or
to be used in making the purchases, and if any part of the purchase price is or
will be represented by funds or other consideration borrowed or otherwise
obtained for the purpose of acquiring, holding, trading or voting the
securities, a description of the transaction and the names of the parties
thereto. Where material, such information should also be provided with respect
to prior acquisitions not previously reported pursuant to this regulation. If
the source of all or any part of the funds is a loan made in the ordinary course
of business by a bank, as defined in Section 3(a) (6) of the act, the name of
the bank shall not be made available to the public if the person at the time of
filing the statement so requests in writing and files such request, naming such
bank, with the Secretary of the Commission. If the securities were acquired
other than by purchase, describe the method of acquisition.
As of the date hereof, Edward P. Milbank is deemed to beneficially own
27,800 shares of the Issuer's Common Stock or approximately 5.86% of the
outstanding shares of Common Stock. The shares were purchased by trusts in which
Mr. Milbank serves as trustee or is the beneficiary. The funds totalling
approximately $308,000 used to purchase these shares came from trust funds.
Page 4 of 9
<PAGE>
Item 4. Purpose of Transaction
State the purpose or purposes of the acquisition of securities of the
issuer. Describe any plans or proposals which the reporting persons may have
which relate to or would result
in:
Mr. Milbank has purchased the shares of the Issuer's common stock for
investment purposes only and has no plans or proposals, in his capacity as owner
of shares of Issuer's Common Stock, which relate to the following:
(a) The acquisition by any person of additional securities of the issuer,
or the disposition of securities of the issuer;
None
(b) An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the issuer or any of its
subsidiaries;
None
(c) The sale or transfer of a material amount of assets of the issuer or
any of its subsidiaries;
None
(d) Any change in the present board of directors or management of the
issuer, including any plans or proposals to change the number or term
of directors or to fill any existing vacancies on the board;
None
(e) Any material change in the present capitalization or dividend policy
of the issuer:
None
(f) Any other material change in the issuer's business or corporate
structure including but not limited to, if the issuer is a registered
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;
None
Page 5 of 9
<PAGE>
(g) Changes in the issuer's charter, bylaws or instruments corresponding
thereto or other actions which may impede the acquisition of control
of the issuer by any person;
None
(h) Causing a class of securities of the issuer 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;
None
(i) A class of equity securities of the issuer becoming eligible for
termination of registration pursuant to Section 12 (g) (4) of the Act;
or
None
(j) Any action similar to any of those enumerated above.
None
Item 5. Interest in Securities of the Issuer
(a) State the aggregate number and percentage of the class of securities
identified pursuant to Item 1 (which may be based on the number of
securities outstanding as contained in the most recently available
filing with the Commission by the issuer unless the filing person has
reason to believe such information is not current) beneficially owned
(identifying those shares which there is a right to acquire) by each
person named in Item 2. The above mentioned information should also be
furnished with respect to persons who, together with any of the
persons named in Item 2, comprise a group within the meaning of
Section 13 (d) (3) of the Act;
As of the date hereof, Mr. Milbank is deemed to beneficially own
27,800 shares of the Issuer's common stock. The 27,800 shares deemed
to be owned beneficially by Mr. Milbank constitute approximately 5.86%
of the total shares of Common Stock outstanding.
(b) For each person named in response to paragraph (a), indicate the
number of shares as to which there is sole power to vote or to direct
the vote, shared power to vote or direct the vote, sole or shared
power to dispose or to direct the disposition. Provide the applicable
information required by Item 2 with respect to each person with whom
the power to vote or to direct the vote or to dispose or direct the
disposition is shared;
See paragraph (a).
Page 6 of 9
<PAGE>
(c) Describe any transactions in the class of securities reported on that
were effected during the past sixty days or since the most recent
filing on Schedule 13D whichever is less, by the persons named in
response to paragraph (a).
On May 11, 1999--6,300 shares were purchased at $13.50 per share. On
May 12, 1999--1,500 shares were purchased at $13.00 per share. On June
1, 1999--100 shares were purchased at $13.10 per share. On July 2,
1999--150 shares were purchased at $13.10 per share.
(d) If any other person is known to have the right to receive or the power
to direct the receipt of dividends from, or the proceeds from the sale
of, such securities, a statement to that effect should be included in
response to this item and, if such interest relates to more than five
percent of the class, such person should be identified. A listing of
the shareholders of an investment company registered under the
Investment Company Act of 1940 or the beneficiaries of an employee
benefit plan, pension fund or endowment fund is not required.
None
(e) If applicable, state the date on which the reporting person ceased to
be the beneficial owner of more than five percent of the class of
securities.
Not applicable
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer.
Describe any contracts, arrangements, understandings or relationships
(legal or otherwise) among the persons named in Item 2 and between such persons
and any person with respect to any securities of the issuer, including but not
limited to transfer or voting of any of the securities, finder's fees, joint
ventures, loan or option arrangements, put or calls, guarantees of profits,
division of profits or loss, or the giving or withholding of proxies, naming the
persons with whom such contracts, arrangements, understandings or relationships
have been entered into. Include such information for any of the securities that
are pledged or otherwise subject to a contingency the occurrence of which would
give another person voting power or investment power over such securities except
that disclosure of standard default and similar provisions contained in loan
agreements need not be included.
None, except as described in Items 2 and 5.
Page 7 of 9
<PAGE>
Item 7. Material to Be Filed as Exhibits
The following shall be filed as exhibits: copies of written agreements
relating to the filing of joint acquisition statements as required by Rule 13d-1
(k) and copies of all written agreements, contracts, arrangements,
understandings, plans or proposals relating to (1) the borrowing of funds to
finance the acquisition as disclosed in Item 3; (2) the acquisition of issuer
control, liquidation, sale of assets, merger, or change in business or control,
liquidation, sale of assets, merger, or change in business or corporate
structure or any other matter as disclosed in Item 4; (3) the transfer or voting
of the securities, finder's fees, joint ventures, options, puts, calls,
guarantees of loans, guarantees against loss or of profit, or the giving or
withholding of any proxy as disclosed in Item 6.
None
Page 8 of 9
<PAGE>
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.
Dated: August 17, 1999 /s/ Edward P. Milbank
-------------------------------
Edward P. Milbank
Page 9 of 9