UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
Amendment No. 1
(Mark One)
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED JUNE 30, 1999
OR
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from ___________ to ___________
Commission file number 000-26191
SUN COMMUNITY BANCORP LIMITED
(Exact name of registrant as specified in its charter)
Arizona 86-0878747
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
2777 East Camelback Road, Suite 101, Phoenix, Arizona 85016
(Address of principal executive offices) (Zip Code)
(602) 955-6100
(Registrant's telephone number)
Not Applicable
(Former name, former address and former fiscal year,
if changed since last report)
Indicate by check mark whether the registrant (1) filed all reports
required to be filed by Section 13 or 15(d) of the Exchange Act during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days. Yes [ ] No [X]
APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practicable date:
Common stock, No par value: 5,503,870 shares outstanding as of July 31, 1999.
<PAGE>
The sole purpose of this Amendment No. 1 to Form 10-Q is to correct a "flawed"
Financial Data Schedule previously filed with the Company's Form 10-Q for the
quarter ended June 30, 1999.
2
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
SUN COMMUNITY BANCORP LIMITED
(Registrant)
/s/ Joseph D. Reid
------------------------------------
Joseph D. Reid
Chairman and Chief Executive Officer
(duly authorized to sign on behalf
of the registrant)
/s/ Lee W. Hendrickson
------------------------------------
Lee W. Hendrickson
Senior Vice President and
Chief Financial Officer
Date: August 30, 1999
3
<PAGE>
EXHIBIT INDEX
Exhibit No. Description
----------- -----------
27 Financial Data Schedule
<TABLE> <S> <C>
<ARTICLE> 9
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> JUN-30-1999
<CASH> 10,262
<INT-BEARING-DEPOSITS> 8,675
<FED-FUNDS-SOLD> 36,350
<TRADING-ASSETS> 0
<INVESTMENTS-HELD-FOR-SALE> 14,812
<INVESTMENTS-CARRYING> 0
<INVESTMENTS-MARKET> 0
<LOANS> 121,469
<ALLOWANCE> 1,231
<TOTAL-ASSETS> 198,149
<DEPOSITS> 154,003
<SHORT-TERM> 3,518
<LIABILITIES-OTHER> 0
<LONG-TERM> 0
0
0
<COMMON> 26,864
<OTHER-SE> (967)
<TOTAL-LIABILITIES-AND-EQUITY> 198,149
<INTEREST-LOAN> 5,369
<INTEREST-INVEST> 421
<INTEREST-OTHER> 990
<INTEREST-TOTAL> 6,780
<INTEREST-DEPOSIT> 2,079
<INTEREST-EXPENSE> 2,079
<INTEREST-INCOME-NET> 4,701
<LOAN-LOSSES> 535
<SECURITIES-GAINS> 0
<EXPENSE-OTHER> 4,987
<INCOME-PRETAX> (555)
<INCOME-PRE-EXTRAORDINARY> (401)
<EXTRAORDINARY> 0
<CHANGES> (386)
<NET-INCOME> (787)
<EPS-BASIC> (0.10)
<EPS-DILUTED> (0.10)
<YIELD-ACTUAL> 6.23
<LOANS-NON> 25
<LOANS-PAST> 0
<LOANS-TROUBLED> 0
<LOANS-PROBLEM> 0
<ALLOWANCE-OPEN> 696
<CHARGE-OFFS> 0
<RECOVERIES> 0
<ALLOWANCE-CLOSE> 1,231
<ALLOWANCE-DOMESTIC> 1,231
<ALLOWANCE-FOREIGN> 0
<ALLOWANCE-UNALLOCATED> 575
</TABLE>
