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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. 3)*
CUMBERLAND MOUNTAIN BANCSHARES INC
----------------------------------
(Name of Issuer)
COMMON STOCK, PAR VALUE $.01 PER SHARE
--------------------------------------
(Title of Class of Securities)
23075510
--------------------
(CUSIP Number)
Mr. Terry Maltese,
Sandler O'Neill Asset Management LLC,
712 Fifth Avenue - 22nd Floor, New York, NY 10019
(212) 974-1700
-----------------------------------------------------
(Name, Address, Telephone Number of Person Authorized
to Receive Notices and Communications)
June 29, 1998
-------------------------------------------------------
(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 [ ].
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 1 of 13 Pages
<PAGE>
- ----------------------------------- -----------------------------------
CUSIP No. 23075510 Page 2 of 13 Pages
- ----------------------------------- -----------------------------------
================================================================================
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SOAM Holdings, LLC
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF
SHARES ----------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
65,000
OWNED BY ----------------------------------------------------------
9. SOLE DISPOSITIVE POWER
EACH
REPORTING ----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
PERSON WITH
65,000
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
65,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.6%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
00
================================================================================
*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>
- ----------------------------------- -----------------------------------
CUSIP No. 23075510 Page 3 of 13 Pages
- ----------------------------------- -----------------------------------
================================================================================
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sandler O'Neill Asset Management, LLC
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF
SHARES ----------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
65,000
OWNED BY ----------------------------------------------------------
9. SOLE DISPOSITIVE POWER
EACH
REPORTING ----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
PERSON WITH
65,000
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
65,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.6%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
00
================================================================================
*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>
- ----------------------------------- -----------------------------------
CUSIP No. 23075510 Page 4 of 13 Pages
- ----------------------------------- -----------------------------------
================================================================================
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Malta Partners, L.P.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF
SHARES ----------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
30,460
OWNED BY ----------------------------------------------------------
9. SOLE DISPOSITIVE POWER
EACH
REPORTING ----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
PERSON WITH
30,460
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,460
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.5%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
PN
================================================================================
*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>
- ----------------------------------- -----------------------------------
CUSIP No. 23075510 Page 5 of 13 Pages
- ----------------------------------- -----------------------------------
================================================================================
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Malta Partners II, L.P.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF
SHARES ----------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
9,640
OWNED BY ----------------------------------------------------------
9. SOLE DISPOSITIVE POWER
EACH
REPORTING ----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
PERSON WITH
9,640
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,640
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.4%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
PN
================================================================================
*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>
- ----------------------------------- -----------------------------------
CUSIP No. 23075510 Page 6 of 13 Pages
- ----------------------------------- -----------------------------------
================================================================================
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Malta Hedge Fund, L.P.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF
SHARES ----------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
18,605
OWNED BY ----------------------------------------------------------
9. SOLE DISPOSITIVE POWER
EACH
REPORTING ----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
PERSON WITH
18,605
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,605
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.7%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
PN
================================================================================
*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>
- ----------------------------------- -----------------------------------
CUSIP No. 23075510 Page 7 of 13 Pages
- ----------------------------------- -----------------------------------
================================================================================
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Malta Hedge Fund II, L.P.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF
SHARES ----------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
6,295
OWNED BY ----------------------------------------------------------
9. SOLE DISPOSITIVE POWER
EACH
REPORTING ----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
PERSON WITH
6,295
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,295
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.9%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
PN
================================================================================
*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>
- ----------------------------------- -----------------------------------
CUSIP No. 23075510 Page 8 of 13 Pages
- ----------------------------------- -----------------------------------
================================================================================
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Terry Maltese
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
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
NUMBER OF
SHARES ----------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
65,000
OWNED BY ----------------------------------------------------------
9. SOLE DISPOSITIVE POWER
EACH
REPORTING ----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
PERSON WITH
65,000
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
65,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.6%
- --------------------------------------------------------------------------------
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>
This Amendment No. 3 to Schedule 13D relating to Cumberland Mountain
Bancshares Inc. is being filed on behalf of the undersigned to amend the
Schedule 13D dated January 30, 1998 as amended by Amendment No. 1 to the
Schedule 13D dated February 5, 1998 and Amendment No. 2 to the Schedule 13D
dated May 22, 1998 (the "Schedule 13D"). Terms defined in the Schedule 13D and
not defined herein have the same meaning as in the Schedule 13D.
Item 3. Source and Amount of Funds.
Item 3 of the Schedule 13D is hereby amended in its entirety to read as
follows:
The net investment cost (including commissions, if any) of the shares of
Common Stock held by MP, MHF, MPII and MHFII is $505,292, $308,282, $161,063 and
$106,111, respectively. Such shares were purchased with the investment capital
of the respective entities.
Item 5. Interest in Securities of the Issuer.
Item 5 of the Schedule 13D is hereby amended in its entirety to read as
follows:
(a) Based upon an aggregate of 677,358 shares of Common Stock
outstanding, as set forth in the Issuer's Quarterly Report on Form 10-Q for
the quarter ended March 31, 1998, as of the close of business on June 29,
1998:
(i) MP beneficially owned 30,460 shares of Common Stock,
constituting approximately 4.5% of the shares outstanding.
(ii) MHF beneficially owned 18,605 shares of Common Stock,
constituting approximately 2.7% of the shares outstanding.
(iii) MPII beneficially owned 9,640 shares of Common Stock,
constituting approximately 1.4% of the shares outstanding.
(iv) MHFII beneficially owned 6,295 shares of Common Stock,
constituting approximately 0.9% of the shares outstanding.
(v) Holdings owned directly no shares of Common Stock. By reason of
its position as general partner of MP, MHF, MPII and MHFII,
under the provisions of Rule 13d-3 of the Securities and
Exchange Commission ("Rule 13d-3"), Holdings may be deemed to
beneficially own the 30,460 shares owned by MP, the 18,605
shares owned by MHF, the 9,640 shares owned by MPII and the
6,295 shares owned by MHFII, or an aggregate of 65,000 shares
of Common Stock, constituting approximately 9.6% of the shares
outstanding.
Page 9 of 13
<PAGE>
(vi) SOAM owned directly no shares of Common Stock. By reason of its
position as management company for MP, MHF, MPII and MHFII,
under the provisions of Rule 13d-3, SOAM may be deemed to
beneficially own the 30,460 shares owned by MP, the 18,605
shares owned by MHF, the 9,640 shares owned by MPII and the
6,295 shares owned by MHFII, or an aggregate of 65,000 shares
of Common Stock, constituting approximately 9.6% of the shares
outstanding.
(vii) Mr. Maltese directly owned no shares of Common Stock. By reason
of his position as President of Holdings and SOAM, Mr. Maltese
may be deemed to beneficially own the 30,460 shares owned by
MP, the 18,605 shares owned by MHF, the 9,640 shares owned by
MPII and the 6,295 shares owned by MHFII, or an aggregate of
65,000 shares of Common Stock, constituting approximately 9.6%
of the shares outstanding.
(viii) In the aggregate, the Reporting Persons beneficially own an
aggregate of 65,000 shares of Common Stock, constituting
approximately 9.6% of the shares outstanding.
(ix) 2WTC directly owned no shares of Common Stock.
(b) The Partnerships each have the power to dispose of and to vote
the shares of Common Stock beneficially owned by it, which power may be
exercised by its general partner, Holdings. Holdings is a party to a
management agreement with SOAM pursuant to which SOAM shares the power to
dispose of and to vote the shares of Common Stock beneficially owned by
Holdings. Mr. Maltese, as President and managing member of Holdings and
SOAM, shares the power to dispose of and to vote the shares of Common Stock
beneficially owned by the other Reporting Persons.
(c) Since the date of the filing of Amendment No. 2 to the Schedule
13D, MP effected the following transactions in the Common Stock in open
market transactions with brokers:
Number Price
Date Action of Shares per Share
---- ------ --------- ---------
06/16/98 Bought 2,700 $17.75
06/29/98 Bought 4,600 17.0625
Page 10 of 13
<PAGE>
Since the date of the filing of Amendment No. 2 to the Schedule 13D, MHF
effected the following transactions in the Common Stock in open market
transactions with brokers:
Number Price
Date Action of Shares per Share
---- ------ --------- ---------
06/16/98 Bought 1,500 $17.75
06/29/98 Bought 2,700 17.0625
Since the date of the filing of Amendment No. 2 to the Schedule 13D, MPII
effected the following transactions in the Common Stock in open market
transactions with brokers:
Number Price
Date Action of Shares per Share
---- ------ --------- ---------
06/16/98 Bought 1,000 $17.75
06/29/98 Bought 1,600 17.0625
Since the date of the filing of Amendment No. 2 to the Schedule 13D, MHFII
effected the following transactions in the Common Stock in open market
transactions with brokers:
Number Price
Date Action of Shares per Share
---- ------ --------- ---------
06/16/98 Bought 800 $17.75
06/29/98 Bought 1,400 17.0625
(d) Not applicable.
(e) Not applicable.
Page 11 of 13
<PAGE>
SIGNATURES
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: July 8, 1998
MALTA PARTNERS, L.P.
By: SOAM Holdings, LLC,
the sole general partner
By: /s/ Terry Maltese
---------------------------
Terry Maltese
President
MALTA PARTNERS II, L.P.
By: SOAM Holdings, LLC,
the sole general partner
By: /s/ Terry Maltese
---------------------------
Terry Maltese
President
SOAM Holdings, LLC
By: /s/ Terry Maltese
---------------------------
Terry Maltese
President
Terry Maltese
/s/ Terry Maltese
-------------------------------
Page 12 of 13
<PAGE>
MALTA HEDGE FUND, L.P.
By: SOAM Holdings, LLC,
the sole general partner
By: /s/ Terry Maltese
---------------------------
Terry Maltese
President
MALTA HEDGE FUND II, L.P.
By: SOAM Holdings, LLC,
the sole general partner
By: /s/ Terry Maltese
---------------------------
Terry Maltese
President
Sandler O'Neill Asset Management LLC
By: /s/ Terry Maltese
---------------------------
Terry Maltese
President
Page 13 of 13
