UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
FOUR OAKS FINCORP, INC.
(Name of Issuer)
COMMON STOCK $1.00 PAR VALUE
(Title of Class of Securities)
350891 10 7
(CUSIP Number)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)**
[ ] Rule 13d-1(d)
*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 the
disclosures provided in a prior cover page.
**This Schedule 13G was originally filed pursuant to Rule 13d-1(c), while this
Amendment is being filed pursuant to Rule 13d-2(b).
The information required in 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 Notes).
(Continued on following page(s))
Page 1 of 6 Pages
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CUSIP No. 350891 10 7 13G Page 2 of 6 Pages
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Josephine L. Sturdivant
2. CHECK THE APPROPRIATE BOX OF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [ ]
(b) [ ]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
NUMBER OF 5. SOLE VOTING POWER
SHARES
BENEFICIALLY 68,032.562
OWNED BY
EACH 6. SHARED VOTING POWER
REPORTING
PERSON 798.309
WITH:
7. SOLE DISPOSITIVE POWER
68,032.562
8. SHARED DISPOSITIVE POWER
798.309
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
76,741.812
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
NOT APPLICABLE
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.68%
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
<PAGE>
CUSIP No. 350891 10 7 13G Page 3 of 6 Pages
This Amendment to Schedule 13G (the "Amendment") amends the Schedule 13G filed
with the Securities and Exchange Commission on February 13, 1998 (the "Schedule
13G") by Josephine L. Sturdivant (the "Reporting Person"), with respect to the
common stock, par value $1.00 per share ("Shares"), of Four Oaks Fincorp, Inc.,
a North Carolina corporation (the "Company"). Except as provided in Item 4, the
Amendment amends and restates the Schedule 13G.
Item 1.
(a) Name of Issuer
Four Oaks Fincorp, Inc.
(b) Address of Issuer's Principal Executive Offices
6144 US 301 South
Four Oaks, North Carolina 27524
Item 2.
(a) Names of Persons Filing
This statement is filed by Josephine L. Sturdivant.
(b) Address of Principal Business Office or, if none, Residence:
5426 Hampton Road
Fayetteville, North Carolina 28311
(c) Place of Organization or Citizenship
United States of America
(d) Title of Class of Securities
Common Stock, par value $1.00 per share
(e) CUSIP Number
350891 10 7
Item 3.
Not Applicable.
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CUSIP No. 350891 10 7 13G Page 4 of 6 Pages
Item 4. Ownership
(a) Amount Beneficially Owned:
As of December 31, 1998, the Reporting Person beneficially owned
76,741.812 Shares which includes 7,910.941 Shares owned by her spouse
individually and 798.309 Shares owned jointly by the Reporting Person and
her spouse. The Reporting Person declares that the filing of this Schedule
13G shall not be construed as an admission that she is, for purposes of
Section 13(d) or Section 13(g) of the Act, the beneficial owner of any of
the Shares owned of record by her spouse. The Reporting Person has no
power to vote, direct the voting of, dispose of, or direct the disposition
of such Shares owned by her spouse.
(b) Percent of Class:
Such 76,741.812 Shares are 5.68% of the 1,349,039 Shares outstanding as of
December 31, 1998.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 68,032.562
(ii) shared power to vote or to direct the vote: 798.309
(iii) sole power to dispose or to direct the disposition
of: 68,032.562
(iv) shared power to dispose or to direct the disposition
of: 798.309
Item 5. Ownership of Five Percent or Less of a Class
Not Applicable
Item 6. Ownership of More than Five Percent on Behalf of Another Person
As stated above, the Reporting Person's spouse owns 7,910.941 Shares
individually and has the right to receive dividends and proceeds from
the sale of such Shares.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company
Not Applicable
Item 8. Identification and Classification of Members of the Group
Not Applicable
Item 9. Notice of Dissolution of Group
Not Applicable
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CUSIP No. 350891 10 7 13G Page 5 of 6 Pages
Item 10. Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
<PAGE>
CUSIP No. 350891 10 7 13G Page 6 of 6 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: February 8, 1999
Signature: /s/ Josephine L. Sturdivant
-----------------------------
Name: Josephine L. Sturdivant
