PAGE 1
U.S. SECURITIES & EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13D - Amendment #4
Under the Securities Exchange Act of 1934
Massachusetts Fincorp, Inc.
(Name of Issuer)
Common Stock
(Title of Class Securities)
57564R-10-8
(CUSIP Number)
Mark W. Jaindl
1964 Diehl Court, Allentown, PA 18104
(610) 366-1800
(Name, Address and Telephone Number
of Person Authorized to Receive
Notices and Communications)
August 20, 1999
(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement on
Schedule 13D 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 ( ).
Check the following box if a fee is being paid with this
statement ( ). (A fee is not required only if the
reporting 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
filed no amendment subsequent thereto reporting beneficial
ownership of less than five percent of such class. See Rule
13d-7.)
The information required on the remainder of this cover page
shall not be deemed to "file" 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.
Cusip No. 57564R-10-8
1) Names of Persons S.S. or I.R.S. Identification
Nos. of Above Persons:
Frederick John Jaindl - SSN ###-##-####
____________________________________________________________
_________________
2) Check the Appropriate Box if a Member of a Group
(See Instruction): __________
(a)_______
(b) X
____________________________________________________________
_________________
3) SEC Use Only______
____________________________________________________________
_________________
4) Source of Funds (See Instructions) PF
00
____________________________________________________________
_________________
5) Check if Disclosure of Legal Proceedings is
Required
Pursuant to items 2 (d) or (e): Yes No XX
N/A
____________________________________________________________
_________________
6) Citizenship or Place of Organization: US
U.S.
____________________________________________________________
_________________
Number of 7) Sole Voting Power: 13,948
1,640,150
Shares Bene-
____________________________________________________________
____
ficially
Owned by 8) Shared Voting Power:
N/ A
Each Report-
____________________________________________________________
____
ing Person 9) Sole Dispositive Power: 13,948
With________________________________________________________
________________
10) Shared Dispositive Power:
____________________________________________________________
_________________
____________________________________________________________
______________
11) Aggregate Amount Beneficially Owned by Each
Reporting
Person: 13,948 shares
____________________________________________________________
________________
12) Check if the Aggregate Amount in Row (11) Excludes
Certain Shares: Yes No XX
N/A
____________________________________________________________
_________________
13) Percent of Class Represented by Amount in Row (11)
2.55%
____________________________________________________________
_________________
14) Type of Reporting Person (See Instructions): IN
N___________________________________________________________
__________________
Cusip No. 57564R-10-8
1) Names of Persons S.S. or I.R.S. Identification
Nos. of Above Persons:
Mark Wilson Jaindl - SSN ###-##-####
____________________________________________________________
_________________
2) Check the Appropriate Box if a Member of a Group
(See Instruction): __________
(a)_______
(b) X
____________________________________________________________
_________________
3) SEC Use Only___________
____________________________________________________________
_________________
4) Source of Funds: PF : 00
____________________________________________________________
_________________
5) Check if Disclosure of Legal Proceedings is
Required
Pursuant to items 2 (d) or (e): Yes No XX N/A
____________________________________________________________
_________________
6) Citizenship or Place of Organization: US U.S.
____________________________________________________________
_________________
Number of 7) Sole Voting Power: 30,000 1,640,150
Shares Bene-
____________________________________________________________
____
ficially
Owned by 8) Shared Voting Power: N/ A
Each Report-
____________________________________________________________
____
ing Person 9) Sole Dispositive Power: 30,000
With________________________________________________________
________________
10) Shared Dispositive Power:
_________________________________________
____________________________________________________________
_________________
11) Aggregate Amount Beneficially Owned by Each
Reporting
Person: 30,000 shares
____________________________________________________________
________________
12) Check if the Aggregate Amount in Row (11) Excludes
Certain Shares Yes No XX N/A
____________________________________________________________
_________________
13) Percent of Class Represented by Amount in Row (11)
5.50%
6.20%
____________________________________________________________
_________________
14) Type of Reporting Person (See Instructions): INN
____________________________________________________________
_________________
Cusip No. 57564R-10-8
1) Names of Persons S.S. or I.R.S. Identification
Nos. of Above Persons:
Zachary John Jaindl Trust - EIN 23-6956997
____________________________________________________________
_________________
2) Check the Appropriate Box if a Member of a Group
(See Instruction): __________
(a)_______
(b) X
____________________________________________________________
_________________
3) SEC Use Only____________
____________________________________________________________
_________________
4) Source of Funds: : 00
____________________________________________________________
_________________
5) Check if Disclosure of Legal Proceedings is
Required
Pursuant to items 2 (d) or (e): Yes No XX N/A
____________________________________________________________
_________________
6) Citizenship or Place of Organization: US U.S.
____________________________________________________________
_________________
Number of 7) Sole Voting Power: 7,000 1,640,150
Shares Bene-
____________________________________________________________
____
ficially
Owned by 8) Shared Voting Power: N/ A
Each Report-
____________________________________________________________
____
ing Person 9) Sole Dispositive Power: 7,000
With________________________________________________________
________________
10) Shared Dispositive Power: N/A
____________________________________________________________
_________________
___________________________________________________
11) Aggregate Amount Beneficially Owned by Each
Reporting
Person: 7,000 shares
____________________________________________________________
________________
12) Check if the Aggregate Amount in Row (11) Excludes
Certain Shares: Yes No XX N/A
____________________________________________________________
_________________
13) Percent of Class Represented by Amount in Row (11)
1.28%
6.20%
____________________________________________________________
_________________
14) Type of Reporting Person: Trust IN
____________________________________________________________
_________________
Cusip No. 57564R-10-8
1) Names of Persons S.S. or I.R.S. Identification
Nos. of Above Persons:
Julianne Katherine Jaindl Trust - EIN - 23-7754111
____________________________________________________________
_________________
2) Check the Appropriate Box if a Member of a Group
(See Instruction): __________
(a)_______
(b) X
____________________________________________________________
_________________
3) SEC Use Only____________
____________________________________________________________
_________________
4) Source of Funds: : 00
____________________________________________________________
_________________
5) Check if Disclosure of Legal Proceedings is
Required
Pursuant to items 2 (d) or (e): Yes No XX N/A
____________________________________________________________
_________________
6) Citizenship or Place of Organization: US U.S.
____________________________________________________________
_________________
Number of 7) Sole Voting Power: 3,600 1,640,150
Shares Bene-
____________________________________________________________
____
ficially
Owned by 8) Shared Voting Power: N/ A
Each Report-
____________________________________________________________
____
ing Person 9) Sole Dispositive Power: 3,600
With________________________________________________________
________________
10) Shared Dispositive Power: N/A
____________________________________________________________
_________________
___________________________________________________
11) Aggregate Amount Beneficially Owned by Each
Reporting
Person: 3,600 shares
____________________________________________________________
________________
12) Check if the Aggregate Amount in Row (11) Excludes
Certain Shares: Yes No XX N/A
____________________________________________________________
_________________
13) Percent of Class Represented by Amount in Row (11)
.66%
6.20%
____________________________________________________________
_________________
14) Type of Reporting Person: Trust IN
____________________________________________________________
_________________
Item 1. .
This Schedule 13D filing relates to the common stock,
$.01 par value, of Massachusetts Fincorp, Inc., a
Massachusetts co-operative bank holding company having its
principal business offices at 1442 Dorchester Avenue,
Boston, Massachusetts 02122 (the "Company").
Item 2. Identity and Background
(a) This statement is being filed by
Frederick J. Jaindl, Mark W. Jaindl, the Zachary John Jaindl
Trust ("ZJTrust") and the Julianne Katherine Jaindl Trust
("JJTrust") (collectively "the Trusts").
(b) Fred Jaindl's principal business address is
Jaindl Farms, 3150 Coffeetown Road, Orefield, PA 18069.
Mark Jaindl's principal business address is American Bank of
the Lehigh Valley, 4029 W. Tilghman Street, Allentown PA
18104. The Trusts principal business address is 3150
Coffeetown Road, Orefield, PA 18069.
(c) Fred Jaindl's present principal occupation is
as the sole proprietor of Jaindl Farms and the principal
shareholder and chief executive officer of Jaindl's Inc.
Both of these businesses have their principal offices at
3150 Coffeetown Road, Orefield, PA 18069. Fred Jaindl is
the Chairman and Mark Jaindl is the President and Chief
Executive Officer of the American Bank of the Lehigh Valley,
a commercial bank whose principal business address is 4029
West Tilghman Street, Allentown PA 18104.
(d) During the past five years neither Fred Jaindl,
nor Mark Jaindl have been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors).
(e) During the past five years neither Fred Jaindl,
nor Mark Jaindl have been a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction
and as a result of which was subject to a judgement, decree
or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or
state securities laws or finding any violations with respect
to such laws.
(f) Fred Jaindl and Mark Jaindl are U.S. citizens.
The Trusts are private trusts.
Item 3.
Fred Jaindl has business interests ranging from turkey
farming to real estate development. In the regular course
of these businesses, he borrows funds from various lenders
to finance their daily operations. Since most of these
businesses are structured as sole proprietorships and
corporations controlled by Mr. Jaindl, he typically
reinvests back into his operations most of the net profits
generated by these entities or by any personal investments
he routinely makes. From time to time he recovers the
equity invested in his businesses either by taking
distributions from current profits or by financing assets
held by one of his business entities, thereby allowing him
to realize a portion of the equity accumulated in those
assets without having to sell them. The personal funds he
has used and may use in the future to purchase shares of
common stock of the Company have been generated from the
equity and profits he accumulates in his various businesses
as described above.
Fred Jaindl and Mark Jaindl have in the past borrowed
funds to purchase investments or to finance their other
business interests. Fred and Mark Jaindl may in the future
borrow funds to purchase additional shares of the Company's
common stock or to finance their other business interests,
which loans may be secured by pledges of the Company's
common stock.
Item 4. Purpose of Transaction.
On August 20, 1999, Mark W. Jaindl sent a letter to the
President of the Company requesting, among other things,
that the Company consider a "Stock Buyback Program". A copy
of this letter is annexed as Exhibit A.
Item 5. Interest in Securities of the Issuer.
(a) Fred Jaindl, Mark Jaindl, the ZJTrust and the
JJTrust own 13,948, 30,000, 7,000 and 3,600 shares
respectively of common stock of the Company. In total,
these 54,548 shares constitute approximately 9.99% of the
545,481 shares of Company common stock outstanding as of
August 10, 1999.
(b) Fred Jaindl, Mark Jaindl, the ZJTrust and the
JJTrust have the sole voting and dispositive power of
13,948, 30,000, 7,000 and 3,600 shares respectively of
common stock they hold.
(c) Not applicable
(d) Not applicable
(e) Not applicable
Item 6.
Contracts, Arrangements, Understandings or
Relationships With Respect to Securities of the Issuer.
Not applicable.7n
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.
August 20, 1999
________________________________________
Signature
Frederick J. Jaindl
________________________________________
Signature
Mark W. Jaindl
Exhibit A
August 20, 1999 BY FACSIMILE
TRANSMISSION
Paul C. Green, President
Massachusetts Fincorp, Inc.
1442 Dorchester Avenue
Boston, Massachusetts 02122
Re: Stock Repurchase Program
Dear Mr. Green:
I read with interest your July 29, 1999 letter to
Shareholders indicating that you are "committed to working
aggressively to grow the Bank and enhance shareholder
value." Let me first state that asset growth and enhancing
shareholder value may not always go "hand in hand." While
growth is important to any organization, it must be
accomplished with great care. Incurring higher levels of
credit or interest rate risk and spending greater amounts on
"bricks and mortar" may deteriorate the Bank's balance
sheet, resulting in lower earnings. I urge the Board of
Directors and management to act cautiously as they execute
the Bank's growth strategy.
In regards to enhancing shareholder value, I suggested to
you during a prior conversation that the Company adopt a
Stock Repurchase Program. If you are "truly" committed to
enhancing shareholder value, I suggest that the Board of
Directors seriously consider a Stock Repurchase Program at
this time. The impact on book value, earnings, and market
value per share would be positive, with only a slight
reduction to the capital ratio.
As many shareholders would agree, it is not the percentage
increase in asset size that is important, it is the
percentage increase in share price.
I look forward to your response.
Very truly yours,
Mark W. Jaindl
