<PAGE> 1
------------------------------------------
OMB APPROVAL
------------------------------------------
OMB NUMBER: 3235-0145
EXPIRES: OCTOBER 31, 1997
ESTIMATED AVERAGE BURDEN
HOURS PER RESPONSE...................14.90
------------------------------------------
------------------------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO.___)*
Finger Lakes Bancorp, Inc.
--------------------------------------------------------------------------------
(NAME OF ISSUER)
Common Stock, par value $0.01 per share
--------------------------------------------------------------------------------
(TITLE OF CLASS OF SECURITIES)
317948107
--------------------------------------------------------------------------------
(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)
November 28, 2000
--------------------------------------------------------------------------------
(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 17 PAGES.
EXHIBIT INDEX LOCATED ON PAGE 15 (SEC 1746 (12-91)
<PAGE> 2
<TABLE>
<CAPTION>
SCHEDULE 13D
-------------------------------------------- ---------------------------------------------
<S> <C> <C> <C> <C>
CUSIP NO. 317948107 PAGE 2 OF 17 PAGES
---------- -------- --------
-------------------------------------------- ---------------------------------------------
</TABLE>
<TABLE>
-------- -------------------------------------------------------------------------------------------------------
<S> <C>
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 CITIZEN OR PLACE OF ORGANIZATION
New York
-------------------- ------ ------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES ------ ------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 180,000
REPORTING PERSON ------ ------------------------------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
------ ------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
180,000
-------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
180,000
-------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
-------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.2%
-------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
00
-------- -------------------------------------------------------------------------------------------------------
</TABLE>
*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.
2 OF 9
<PAGE> 3
<TABLE>
<CAPTION>
SCHEDULE 13D
-------------------------------------------- ---------------------------------------------
<S> <C> <C> <C> <C>
CUSIP NO. 317948107 PAGE 3 OF 17 PAGES
---------- -------- --------
-------------------------------------------- ---------------------------------------------
</TABLE>
<TABLE>
-------- -------------------------------------------------------------------------------------------------------
<S> <C>
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 CITIZEN OR PLACE OF ORGANIZATION
DELAWARE
-------------------- ------ ------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES ------ ------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 162,000
REPORTING PERSON ------ ------------------------------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
------ ------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
162,000
-------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
162,000
-------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
-------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.7%
-------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
00
-------- -------------------------------------------------------------------------------------------------------
</TABLE>
*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.
2 OF 9
<PAGE> 4
<TABLE>
<CAPTION>
SCHEDULE 13D
-------------------------------------------- ---------------------------------------------
<S> <C> <C> <C> <C>
CUSIP NO. 317948107 PAGE 4 OF 17 PAGES
---------- -------- --------
-------------------------------------------- ---------------------------------------------
</TABLE>
<TABLE>
-------- -------------------------------------------------------------------------------------------------------
<S> <C>
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 CITIZEN OR PLACE OF ORGANIZATION
DELAWARE
-------------------- ------ ------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES ------ ------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 18,000
REPORTING PERSON ------ ------------------------------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
------ ------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
18,000
-------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,000
-------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
-------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.5%
-------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
-------- -------------------------------------------------------------------------------------------------------
</TABLE>
*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.
2 OF 9
<PAGE> 5
<TABLE>
<CAPTION>
SCHEDULE 13D
-------------------------------------------- ---------------------------------------------
<S> <C> <C> <C> <C>
CUSIP NO. 317948107 PAGE 5 OF 17 PAGES
---------- -------- --------
-------------------------------------------- ---------------------------------------------
</TABLE>
<TABLE>
-------- -------------------------------------------------------------------------------------------------------
<S> <C>
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 CITIZEN OR PLACE OF ORGANIZATION
DELAWARE
-------------------- ------ ------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES ------ ------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 45,100
REPORTING PERSON ------ ------------------------------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
------ ------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
45,100
-------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
45,100
-------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
-------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.3%
-------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
-------- -------------------------------------------------------------------------------------------------------
</TABLE>
*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.
2 OF 9
<PAGE> 6
<TABLE>
<CAPTION>
SCHEDULE 13D
-------------------------------------------- ---------------------------------------------
<S> <C> <C> <C> <C>
CUSIP NO. 317948107 PAGE 6 OF 17 PAGES
---------- -------- --------
-------------------------------------------- ---------------------------------------------
</TABLE>
<TABLE>
-------- -------------------------------------------------------------------------------------------------------
<S> <C>
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 CITIZEN OR PLACE OF ORGANIZATION
DELAWARE
-------------------- ------ ------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES ------ ------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 18,000
REPORTING PERSON ------ ------------------------------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
------ ------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
18,000
-------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,000
-------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
-------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.5%
-------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
-------- -------------------------------------------------------------------------------------------------------
</TABLE>
*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.
2 OF 9
<PAGE> 7
<TABLE>
<CAPTION>
SCHEDULE 13D
-------------------------------------------- ---------------------------------------------
<S> <C> <C> <C> <C>
CUSIP NO. 317948107 PAGE 7 OF 17 PAGES
---------- -------- --------
-------------------------------------------- ---------------------------------------------
</TABLE>
<TABLE>
-------- -------------------------------------------------------------------------------------------------------
<S> <C>
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 CITIZEN OR PLACE OF ORGANIZATION
DELAWARE
-------------------- ------ ------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES ------ ------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 80,900
REPORTING PERSON ------ ------------------------------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
------ ------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
80,900
-------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
80,900
-------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
-------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.3%
-------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
-------- -------------------------------------------------------------------------------------------------------
</TABLE>
*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.
2 OF 9
<PAGE> 8
<TABLE>
<CAPTION>
SCHEDULE 13D
-------------------------------------------- ---------------------------------------------
<S> <C> <C> <C> <C>
CUSIP NO. 317948107 PAGE 8 OF 17 PAGES
---------- -------- --------
-------------------------------------------- ---------------------------------------------
</TABLE>
<TABLE>
-------- -------------------------------------------------------------------------------------------------------
<S> <C>
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 CITIZEN OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
----------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES ------ ------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 18,000
REPORTING PERSON ------ ------------------------------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
------ ------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
18,000
-------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,000
-------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
-------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.5%
-------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
-------- -------------------------------------------------------------------------------------------------------
</TABLE>
*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.
2 OF 9
<PAGE> 9
<TABLE>
<CAPTION>
SCHEDULE 13D
-------------------------------------------- ---------------------------------------------
<S> <C> <C> <C> <C>
CUSIP NO. 317948107 PAGE 9 OF 17 PAGES
---------- -------- --------
-------------------------------------------- ---------------------------------------------
</TABLE>
<TABLE>
--------- -------------------------------------------------------------------------------------------------------
<S> <C>
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 CITIZEN OR PLACE OF ORGANIZATION
USA
----------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 15,000
SHARES ------ ------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 180,000
REPORTING PERSON ------ ------------------------------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
15,000
------ ------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
180,000
-------- -------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
195,000
-------- -------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
-------- -------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.6%
-------- -------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
-------- -------------------------------------------------------------------------------------------------------
</TABLE>
*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.
2 OF 9
<PAGE> 10
ITEM 1. SECURITY AND ISSUER.
The class of equity securities to which this statement relates is the
common stock, par value $.01 per share ("Common Stock"), of Finger Lakes
Bancorp, Inc. (the "Issuer"), a Delaware corporation having its principal office
at 470 Exchange Street, Geneva, New York 14456.
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 individually
and 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
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.
Page 10 of 17
<PAGE> 11
(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 $126,029, $126,029,
$315,775, $566,427 and $126,029, respectively. Such shares were purchased with
the investment capital of the respective entities. The net investment cost
(including commissions, if any) of the shares of Common Stock held by Mr.
Maltese is $105,000, which were purchased with Mr. Maltese's personal funds.
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 3,445,250 shares of Common Stock outstanding,
as derived from the Issuer's public information, as of the close of business on
November 28, 2000:
Page 11 of 17
<PAGE> 12
(i) MP beneficially owned 18,000 shares of Common Stock,
constituting approximately 0.5% of the shares outstanding.
(ii) MHF beneficially owned 18,000 shares of Common Stock, constituting
approximately 0.5% of the shares outstanding.
(iii) MPII beneficially owned 45,100 shares of Common Stock, constituting
approximately 1.3% of the shares outstanding.
(iv) MHFII beneficially owned 80,900 shares of Common Stock, constituting
approximately 2.3% of the shares outstanding.
(v) MO beneficially owned 18,000 shares of Common Stock, constituting
approximately 0.5% 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 18,000 shares owned by MP, the 18,000 shares
owned by MHF, the 45,100 shares owned by MPII, the 80,900 shares
owned by MHFII and the 18,000 shares owned by MO, or an aggregate of
180,000 shares of Common Stock, constituting approximately 5.2% 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
18,000 shares owned by MP, the 18,000 shares owned by MHF, the
45,100 shares owned by MPII, and the 80,900 shares owned by MHFII,
or an aggregate of 162,000 shares of Common Stock, constituting
approximately 4.7% of the shares outstanding.
(vii) Mr. Maltese directly owned 15,000 shares of Common Stock. By reason
of his position as President of Holdings and SOAM, Mr. Maltese may
be deemed to beneficially own the 18,000 shares owned by MP, the
18,000 shares owned by MHF, the 45,100 shares owned by MPII, the
80,900 shares owned by MHFII and the 18,000 shares owned by MO, or
an aggregate of 195,000 shares of Common Stock, constituting
approximately 5.6% of the shares outstanding.
(viii) In the aggregate, the Reporting Persons beneficially own an
aggregate of 195,000 shares of Common Stock, constituting
approximately 5.6% 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. 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 has the sole power to dispose of and to vote the
shares of Common Stock beneficially owned by him. 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.
Page 12 of 17
<PAGE> 13
(c) During the sixty days prior to November 28, 2000, Mr. Maltese effected
one transaction in the Common Stock on November 13, 2000 whereby he purchased
15,000 shares at $7.00 per share in connection with the Issuer's second-stage
conversion offering.
During the sixty days prior to November 28, 2000, MP has effected the
following transactions in the Common Stock in open market transactions with
brokers:
<TABLE>
<CAPTION>
Number Price
Date Action of Shares per Share
---- ------- ----------- -------------
<S> <C> <C> <C>
11/14/00 Bought 4,000 $ 7.101
11/14/00 Bought 3,500 7.031
11/15/00 Bought 1,500 7.031
11/16/00 Bought 2,000 6.984
11/16/00 Bought 3,000 7.000
11/17/00 Bought 1,000 6.938
11/24/00 Bought 1,000 6.750
11/28/00 Bought 2,000 6.906
</TABLE>
During the sixty days prior to November 28, 2000, MHF has effected the
following transactions in the Common Stock in open market transactions with
brokers:
<TABLE>
<CAPTION>
Number Price
Date Action of Shares per Share
---- ------- ----------- -------------
<S> <C> <C> <C>
11/14/00 Bought 4,000 $ 7.101
11/14/00 Bought 3,500 7.031
11/15/00 Bought 1,500 7.031
11/16/00 Bought 2,000 6.984
11/16/00 Bought 3,000 7.000
11/17/00 Bought 1,000 6.938
11/24/00 Bought 1,000 6.750
11/28/00 Bought 2,000 6.906
</TABLE>
During the sixty days prior to November 28, 2000, MPII has effected the
following transactions in the Common Stock in open market transactions with
brokers:
<TABLE>
<CAPTION>
Number Price
Date Action of Shares per Share
---- ------- ----------- -------------
<S> <C> <C> <C>
11/14/00 Bought 10,000 $ 7.101
11/14/00 Bought 8,800 7.031
11/15/00 Bought 3,800 7.031
</TABLE>
Page 13 of 17
<PAGE> 14
<TABLE>
<S> <C> <C> <C>
11/16/00 Bought 5,000 6.984
11/16/00 Bought 7,500 7.000
11/17/00 Bought 2,500 6.938
11/24/00 Bought 2,500 6.750
11/28/00 Bought 5,000 6.906
</TABLE>
During the sixty days prior to November 28, 2000, MHFII has effected the
following transactions in the Common Stock in open market transactions with
brokers:
<TABLE>
<CAPTION>
Number Price
Date Action of Shares per Share
---- ------- ----------- ----------
<S> <C> <C> <C>
11/14/00 Bought 18,000 $ 7.101
11/14/00 Bought 15,700 7.031
11/15/00 Bought 6,700 7.031
11/16/00 Bought 9,000 6.984
11/16/00 Bought 13,500 7.000
11/17/00 Bought 4,500 6.938
11/24/00 Bought 4,500 6.750
11/28/00 Bought 9,000 6.906
</TABLE>
During the sixty days prior to November 28, 2000, MO has effected the
following transaction in the Common Stock in open market transactions with
brokers:
<TABLE>
<CAPTION>
Number Price
Date Action of Shares per Share
---- ------ --------- ---------
<S> <C> <C> <C>
11/14/00 Bought 4,000 $ 7.101
11/14/00 Bought 3,500 7.031
11/15/00 Bought 1,500 7.031
11/16/00 Bought 2,000 6.984
11/16/00 Bought 3,000 7.000
11/17/00 Bought 1,000 6.938
11/24/00 Bought 1,000 6.750
11/28/00 Bought 2,000 6.906
</TABLE>
(d) Not applicable.
(e) Not applicable.
Page 14 of 17
<PAGE> 15
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 15 of 17
<PAGE> 16
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.
<TABLE>
<CAPTION>
Dated: December 7, 2000
<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: 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 16 of 17
