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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. __ )*
First Kansas Financial Corporation
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.10 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
32065110
- --------------------------------------------------------------------------------
(CUSIP Number)
Mr. Terry Maltese, Sandler O'Neill Asset Management LLC,
780 Third Avenue, 30th Floor, New York, NY 10017 (212) 486-7300
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
December 30, 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 / /.
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 15 pages.
Exhibit Index located on Page ___ SEC 1746 (12-91)
<PAGE>
SCHEDULE 13D
- ----------------------------------- -----------------------------------
CUSIP No. 32065110 Page 2 of 15 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 ---------------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 106,330
EACH ---------------------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH ---------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
106,330
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
106,330
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.7%
- --------------------------------------------------------------------------------
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>
SCHEDULE 13D
- ----------------------------------- -----------------------------------
CUSIP No. 32065110 Page 3 of 15 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 ---------------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 115,000
EACH ---------------------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH ---------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
115,000
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
115,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.3%
- --------------------------------------------------------------------------------
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>
SCHEDULE 13D
- ----------------------------------- -----------------------------------
CUSIP No. 32065110 Page 4 of 15 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 ---------------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 15,900
EACH ---------------------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH ---------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
15,900
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,900
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
- --------------------------------------------------------------------------------
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>
SCHEDULE 13D
- ----------------------------------- -----------------------------------
CUSIP No. 32065110 Page 5 of 15 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 ---------------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 44,400
EACH ---------------------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH ---------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
44,400
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
44,400
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2%
- --------------------------------------------------------------------------------
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>
SCHEDULE 13D
- ----------------------------------- -----------------------------------
CUSIP No. 32065110 Page 6 of 15 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 ---------------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 10,200
EACH ---------------------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH ---------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
10,200
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,200
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.7%
- --------------------------------------------------------------------------------
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>
SCHEDULE 13D
- ----------------------------------- -----------------------------------
CUSIP No. 32065110 Page 7 of 15 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 ---------------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 35,830
EACH ---------------------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH ---------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
35,830
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
35,830
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
- --------------------------------------------------------------------------------
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>
SCHEDULE 13D
- ----------------------------------- -----------------------------------
CUSIP No. 32065110 Page 8 of 15 Pages
- ----------------------------------- -----------------------------------
================================================================================
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Malta Offshore, Ltd.
- --------------------------------------------------------------------------------
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
CAYMAN ISLANDS
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF
SHARES ---------------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 8,670
EACH ---------------------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH ---------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
8,670
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,670
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
CO
================================================================================
*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>
SCHEDULE 13D
- ----------------------------------- -----------------------------------
CUSIP No. 32065110 Page 9 of 15 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 ---------------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 115,000
EACH ---------------------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH ---------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
115,000
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
115,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.3%
- --------------------------------------------------------------------------------
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>
Item 1. Security and Issuer.
The class of equity securities to which this statement relates is the
common stock, par value $.10 per share ("Common Stock"), of First Kansas
Financial Corporation (the "Issuer"), a Kansas corporation having its principal
office at 600 Main Street, Osawatomie, Kansas 66064.
Item 2. Identity and Background.
(a) This statement is being filed by (i) Sandler O'Neill Asset Management LLC, a
New York limited liability company ("SOAM"), with respect to shares of Common
Stock beneficially owned by Malta Partners, L.P., a Delaware limited partnership
("MP"), Malta Hedge Fund, L.P., a Delaware limited partnership ("MHF"), Malta
Partners II, L.P., a Delaware limited partnership ("MPII"), Malta Hedge Fund II,
L.P., a Delaware limited partnership ("MHFII"), and Malta Offshore, Ltd., a
Cayman Islands company ("MO") (ii) SOAM Holdings, LLC, a Delaware limited
liability company ("Holdings"), with respect to shares of Common Stock
beneficially owned by MP, MHF, MPII and MHFII, (iii) MP, with respect to shares
of Common Stock beneficially owned by it, (iv) MHF, with respect to shares of
Common Stock beneficially owned by it, (v) MPII, with respect to shares of
Common Stock beneficially owned by it, (vi) MHFII, with respect to shares of
Common Stock beneficially owned by it, (vii) MO, with respect to shares of
Common Stock beneficially owned by it, and (viii) Terry Maltese, with respect to
shares of Common Stock beneficially owned by MP, MHF, MPII, MHFII and MO. The
foregoing persons are hereinafter sometimes referred to collectively as the
"Reporting Persons" and MP, MHF, MPII and MHFII are sometimes collectively
referred to herein as the "Partnerships." Any disclosures herein with respect to
persons other than the Reporting Persons are made on information and belief
after making inquiry to the appropriate party.
The sole general partner of each of the Partnerships is Holdings, and
administrative and management services for the Partnerships are provided by
SOAM. SOAM also provides management services to MO. The managing member and
President of Holdings and SOAM is Mr. Maltese. In his capacity as President and
managing member of Holdings and SOAM, Mr. Maltese exercises voting and
dispositive power over all shares of Common Stock beneficially owned by MP, MHF,
MPII, MHFII, MO, SOAM and Holdings. The non-managing member of Holdings and SOAM
is 2 WTC LLC, a New York limited liability company ("2WTC").
(b) The address of the principal offices of each of MP, MHF, MPII, MHFII,
Holdings and SOAM and the business address of Mr. Maltese is Sandler O'Neill
Asset Management LLC, 780 Third Avenue, 30th Floor, New York, New York 10017.
The address of the principal offices of MO is c/o Hemisphere Fund Managers
Limited, Harbour Centre, Third Floor, George Town, Grand Cayman, Cayman Islands,
British West Indies. The address of the principal offices of 2WTC is c/o Sandler
O'Neill & Partners, L.P., 2 World Trade Center -- 104th Floor, New York, New
York 10048.
(c) The principal business of MP, MHF, MPII and MHFII is that of private
partnerships engaged in investment in securities for its own account. The
Page 10 of 15
<PAGE>
principal business of MO is that of investment in securities for its own
account. The principal business of Holdings is that of acting as general partner
for the Partnerships. The principal business of SOAM is that of providing
administrative and management services to the Partnerships and management
services to MO. The present principal occupation or employment of Mr. Maltese is
President of SOAM and Holdings. The principal business of 2WTC is investing in
Holdings and SOAM.
(d) During the last five years, none of MP, MHF, MPII, MHFII, MO, Holdings,
SOAM, 2WTC or Mr. Maltese has been convicted in a criminal proceeding (excluding
traffic violations or similar misdemeanors).
(e) During the last five years, none of MP, MHF, MPII, MHFII, MO, Holdings,
SOAM, 2WTC or Mr. Maltese has been a party to a civil proceeding of a judicial
or administrative body of competent jurisdiction as a result of which such
person 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.
(f) Mr. Maltese is a U.S. citizen.
Item 3. Source and Amount of Funds.
The net investment cost (including commissions, if any) of the shares
of Common Stock held by MP, MHF, MPII, MHFII and MO is $172,876, $112,798,
$474,133, $390,511 and $95,370, respectively. Such shares were purchased with
the investment capital of the respective entities.
Item 4. Purpose of Transaction.
The purpose for which the Common Stock was acquired by the Reporting
Persons is for investment. As such, in the ordinary course of their business,
the Reporting Persons will continuously evaluate the financial condition,
results of operations, business and prospects of the Issuer, the securities
markets in general and the market for the Common Stock in particular, conditions
in the economy and the financial institutions industry generally and other
investment opportunities, all with a view to determining whether to hold,
decrease or increase its investment in the Common Stock, through open market,
privately negotiated or any other transactions. In the ordinary course of
evaluating its investment, representatives of the Reporting Persons may from
time to time seek to (or be invited to) discuss the business and policies of the
Issuer with the management of the Issuer. However, none of the Reporting Persons
has any plan or proposal as of the date hereof which would relate to or result
in any transaction, change or event specified in clauses (a) through (j) of Item
4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer.
(a) Based upon an aggregate of 1,386,930 shares of Common Stock
outstanding, as set forth in the Issuer's Quarterly Report on Form 10-QSB for
the quarter ended September 30, 1999,
Page 11 of 15
<PAGE>
as of the close of business on January 3, 2000:
(i) MP beneficially owned 15,900 shares of Common Stock, constituting
approximately 1.2% of the shares outstanding.
(ii) MHF beneficially owned 10,200 shares of Common Stock, constituting
approximately 0.7% of the shares outstanding.
(iii) MPII beneficially owned 44,400 shares of Common Stock, constituting
approximately 3.2% of the shares outstanding.
(iv) MHFII beneficially owned 35,830 shares of Common Stock, constituting
approximately 2.6% of the shares outstanding.
(v) MO beneficially owned 8,670 shares of Common Stock, constituting
approximately 0.6% of the shares outstanding.
(vi) SOAM owned directly no shares of Common Stock. By reason of its
position as management company for MP, MHF, MPII, MHFII and MO,
under the provisions of Rule 13d-3, SOAM may be deemed to
beneficially own the 15,900 shares owned by MP, the 10,200 shares
owned by MHF, the 44,400 shares owned by MPII, the 35,830 shares
owned by MHFII and the 8,670 shares owned by MO, or an aggregate of
115,000 shares of Common Stock, constituting approximately 8.3% of
the shares outstanding.
(vi) 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
15,900 shares owned by MP, the 10,200 shares owned by MHF, the
44,400 shares owned by MPII, and the 35,830 shares owned by MHFII,
or an aggregate of 106,330 shares of Common Stock, constituting
approximately 7.7% 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 15,900 shares owned by MP, the 10,200
shares owned by MHF, the 44,400 shares owned by MPII, the 35,830
shares owned by MHFII and the 8,670 shares owned by MO, or an
aggregate of 115,000 shares of Common Stock, constituting
approximately 8.3% of the shares outstanding.
(viii) In the aggregate, the Reporting Persons beneficially own an
aggregate of 115,000 shares of Common Stock, constituting
approximately 8.3% of the shares outstanding.
(ix) 2WTC directly owned no shares of Common Stock.
Page 12 of 15
<PAGE>
(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. MO has the power to
dispose of and to vote the shares of Common Stock beneficially owned by it. MO
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
MO. 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) During the sixty days prior to January 3, 2000, MP effected the following
transactions in the Common Stock in open market transactions with brokers:
Number Price
Date Action of Shares per Share
11/04/99 Sell 1,300 $11.50
12/08/99 Sell 1,500 11.625
12/13/99 Sell 2,000 11.25
During the sixty days prior to January 3, 2000, MHF effected the
following sale transactions in the Common Stock in open market transactions with
brokers and the transfer in a privately negotiated transaction:
Number Price
Date Action of Shares per Share
11/04/99 Sell 1,172 $11.50
12/30/99 Sell 5,000 11.00
1/03/00 Transfer 800 N/A
to MO
During the sixty days prior to January 3, 2000, MPII effected the
following transactions in the Common Stock in open market transactions with
brokers:
Number Price
Date Action of Shares per Share
11/04/99 Sell 3,600 $11.50
12/08/99 Sell 4,500 11.625
12/13/99 Sell 3,000 11.25
Page 13 of 15
<PAGE>
During the sixty days prior to January 3, 2000, MHFII effected the sale
of the Common Stock in open market transactions with brokers and the transfer in
a privately negotiated transaction:
Number Price
Date Action of Shares per Share
11/04/99 Sell 3,028 $11.50
1/03/00 Transfer 7,870 N/A
to MO
During the sixty days prior to January 3, 2000, MO effected the
following transaction in the Common Stock in a privately negotiated transaction:
Number Price
Date Action of Shares per Share
1/03/00 Transfer 7,870 N/A
from MHFII
1/03/00 Transfer 800 N/A
from MHF
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of the Issuer.
There are no contracts, arrangements, understandings or relationships
among the persons named in Item 2 or between such persons and any other person
with respect to any securities of the Issuer.
Item 7. Material to be Filed as Exhibits.
Exhibit 1 Written Agreement relating to the filing of joint acquisition
statements as required by Rule 13d-1(f)(1) of the Securities and
Exchange Commission
Page 14 of 15
<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: January 10, 2000
<TABLE>
<S> <C>
MALTA PARTNERS, L.P. MALTA HEDGE FUND, L.P.
By: SOAM Holdings, LLC, By: SOAM Holdings, LLC,
the sole general partner the sole general partner
By: /s/ Terry Maltese By: /s/ Terry Maltese
------------------------------- -------------------------------
Terry Maltese Terry Maltese
President President
MALTA PARTNERS II, L.P. MALTA HEDGE FUND II, L.P.
By: SOAM Holdings, LLC, By: SOAM Holdings, LLC,
the sole general partner the sole general partner
By: /s Terry Maltese By: /s/ Terry Maltese
------------------------------- -------------------------------
Terry Maltese Terry Maltese
President President
MALTA OFFSHORE, LTD Sandler O'Neill Asset Management LLC
By: /s/ Terry Maltese By: /s/ Terry Maltese
------------------------------- -------------------------------
Terry Maltese Terry Maltese
President President
SOAM Holdings, LLC Terry Maltese
By: /s/ Terry Maltese /s/ Terry Maltese
------------------------------- -------------------------------
Terry Maltese Terry Maltese
President
</TABLE>
Page 15 of 15
EXHIBIT 1
JOINT ACQUISITION STATEMENT PURSUANT TO RULE 13d-1(f)(1)
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13D is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13D shall be filed on behalf
of each of the undersigned without the necessity of filing additional joint
acquisition statements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning it contained herein, but shall not be
responsible for the completeness and accuracy of the information concerning the
other, except to the extent that it knows or has reason to believe that such
information is inaccurate.
Dated: January 10, 2000
<TABLE>
<S> <C>
MALTA PARTNERS, L.P. MALTA HEDGE FUND, L.P.
By: SOAM Holdings, LLC, By: SOAM Holdings, LLC,
the sole general partner the sole general partner
By: /s/ Terry Maltese By: /s/ Terry Maltese
------------------------------- -------------------------------
Terry Maltese Terry Maltese
President President
MALTA PARTNERS II, L.P. MALTA HEDGE FUND II, L.P.
By: SOAM Holdings, LLC, By: SOAM Holdings, LLC,
the sole general partner the sole general partner
By: /s/ Terry Maltese By:/s/ Terry Maltese
------------------------------- -------------------------------
Terry Maltese Terry Maltese
President President
Malta Offshore, Ltd. Sandler O'Neill Asset
Management LLC
By: /s/ Terry Maltese By: /s/ Terry Maltese
------------------------------- -------------------------------
Terry Maltese Terry Maltese
President President
SOAM Holdings, LLC Terry Maltese
By: /s/ Terry Maltese /s/ Terry Maltese
------------------------------- -------------------------------
Terry Maltese Terry Maltese
President
</TABLE>
