<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No....)*
Prime Bancshares, Inc.
-----------------------------------------
(Name of Issuer)
Common Stock $0.25 Par Value Per Share
-----------------------------------------
(Title of Class of Securities)
74157 H 108
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(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ].
(A fee is not required only if the filing person: (1) has a previous
statement on file reporting beneficial ownership of more than five
percent of the class of securities described in Item 1; and (2) has
no amendment subsequent thereto reporting beneficial ownership of five
percent or less of such class.) (See Rule 13d-7.)
*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.
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 the Notes).
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CUSIP No. 74157 H 108 13G
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Fredric M. Saunders
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
None
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
0
SHARES -------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 3,174,420
------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON ------------------------------------------------
8 SHARED DISPOSITIVE POWER
WITH
3,174,420
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,180,720
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
34.1%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
<PAGE> 3
CUSIP No. 74157 H 108 13G
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mission-Heights Management Company, Ltd.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
None
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
0
SHARES -------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 3,174,420
------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON ------------------------------------------------
8 SHARED DISPOSITIVE POWER
WITH
3,174,420
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,174,420
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
34.1%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 4
ITEM 1(a)
Name of issuer: The name of the issuer is Prime Bancshares, Inc.
("Bancshares").
ITEM 1(b)
Address of issuer's principal executive offices: The principal executive
office of Bancshares is 12200 Northwest Freeway, Houston, Texas 77092.
ITEM 2(a)
Name of person filing: The reporting persons are Fredric M. Saunders and
Mission-Heights Management Company, Ltd.
ITEM 2(b)
Address or principal business office or, if none, residence: The address of
Fredric M. Saunders and Mission-Heights Management Company, Ltd. is 12200
Northwest Freeway, Houston, Texas 77092.
ITEM 2(c)
Citizenship: Fredric M. Saunders is a citizen of the United States of America
and Mission-Heights Management Company, Ltd. is organized in the State of
Texas.
ITEM 2(d)
Title of class of securities: The class of securities of Bancshares owned
beneficially by Fredric M. Saunders and Mission-Heights Management Company,
Ltd. is common stock, $0.25 par value (the "Common Stock").
ITEM 2(e)
CUSIP Number: 74157 H 108
ITEM 3
Not applicable
ITEM 4
Ownership:
(a) The amount of securities beneficially owned by Fredric M. Saunders is
3,180,720 shares of Common Stock, which includes 3,150 shares held of
record by the Stuart D. Saunders Trust
Page 4 of 7
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#1 of which Gayle Saunders, wife of Fredric M. Saunders, is the
trustee, 3,150 shares held of record by the Meredith A. Saunders Mason
Trust #1 of which Gayle Saunders, wife of Fredric M. Saunders, is the
trustee and 3,174,420 shares held of record by Mission-Heights
Management Company, Ltd. of which Fredric M. Saunders is the managing
general partner. The amount of securities beneficially owned by
Mission-Heights Management Company, Ltd. is 3,174,420 shares of Common
Stock.
(b) The percent of the class of Common Stock beneficially owned by Fredric
M. Saunders is 34.1%. The percent of the class of Common Stock
beneficially owned by Mission-Heights Management Company, Ltd. is
34.1%.
(c) Fredric M. Saunders and Mission-Heights Management Company, Ltd. each
has the shared power to vote or to direct the vote of 3,174,420 shares
of the Common Stock and the shared power to dispose or to direct the
disposition of 3,174,420 shares of the Common Stock.
ITEM 5
Ownership of 5 Percent or Less of a Class: Not applicable
ITEM 6
Ownership of More than 5 Percent on Behalf of Another Person: Not applicable
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
ITEM 10
Certification: Not applicable
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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.
2-4-98
------------------------------------
(Date)
/s/ F. M. SAUNDERS
------------------------------------
(Signature)
FREDRIC M. SAUNDERS
------------------------------------
(Name/Title)
MISSION HEIGHTS MANAGEMENT
COMPANY, LTD.
By: /s/ F. M. SAUNDERS
---------------------------------
Fredric M. Saunders
Its: Managing Partner
--------------------------------
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EXHIBIT 1
AGREEMENT
The undersigned reporting person hereby agrees that the statements
filed pursuant to this Schedule 13G dated February 4, 1998, to which this
Agreement is filed as an exhibit, is filed on behalf of him.
/s/ F. M. SAUNDERS
------------------------------------
Fredric M. Saunders
MISSION HEIGHTS MANAGEMENT
COMPANY, LTD.
By: /s/ F. M. SAUNDERS
---------------------------------
Fredric M. Saunders
Its: Managing Partner
--------------------------------
