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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ...)*
Bay Bancshares, Inc.
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(Name of Issuer)
Common Stock $1.00 Par Value Per Share
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(Title of Class of Securities)
07203 N 109
----------------------
(CUSIP Number)
*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. 07203 N 109 13G Page 2 of 7 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
W. E. GWALTNEY, JR.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(A) / /
NONE
(B) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
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NUMBER OF 5 SOLE VOTING POWER
SHARES 0
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BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 143,343
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EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
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PERSON 8 SHARED DISPOSITIVE POWER
WITH 143,343
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
143,343
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
/ /
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.0%
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12 TYPE OF REPORTING PERSON*
IN
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Page 2 of 7
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CUSIP No. 07203 N 109 13G Page 3 of 7 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GWALTNEY INTERESTS, LIMITED
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(A) / /
NONE
(B) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
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NUMBER OF 5 SOLE VOTING POWER
SHARES 0
--------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 143,343
--------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
--------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 143,343
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
143,343
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
/ /
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.0%
- -------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
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Page 3 of 7
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ITEM 1(a)
Name of issuer: The name of the issuer is Bay Bancshares, Inc. ("Bancshares").
ITEM 1(b)
Address of issuer's principal executive offices: The principal executive office
of Bancshares is 1001 Highway 146 South, LaPorte, Texas 77571
ITEM 2(a)
Name of person filing: The reporting persons are W. E. Gwaltney, Jr. and
Gwaltney Interests, Limited. W. E. Gwaltney, Jr. is a general partner and a
limited partner of Gwaltney Interests, Limited.
ITEM 2(b)
Address or principal business office or, if none, residence: The address of W.
E. Gwaltney, Jr. and Gwaltney Interests, Limited is 3039 Fondren, LaPorte, Texas
77571.
ITEM 2(c)
Citizenship: W. E. Gwaltney, Jr. is a citizen of the United States of America.
Gwaltney Interests, Limited is organized in the State of Texas.
ITEM 2(d)
Title of class of securities: The class of securities of Bancshares owned
beneficially by W. E. Gwaltney, Jr. and Gwaltney Interests, Limited is common
stock, $1.00 par value (the "Common Stock").
ITEM 2(e)
CUSIP Number: 07203 N 109
ITEM 3
Not applicable
ITEM 4
Ownership:
(a) The amount of securities beneficially owned by each of W. E. Gwaltney, Jr.
and Gwaltney
Page 4 of 7
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Interests, Limited is 143,343 shares of Common Stock.
(b) The percent of the class of Common Stock beneficially owned by each of W.
E. Gwaltney, Jr. and Gwaltney Interests, Limited is 7.0%.
(c) W. E. Gwaltney, Jr. and Gwaltney Interests, Limited each has the shared
power to vote or to direct the vote of 143,343 shares of the Common Stock
and the shared power to dispose or to direct the disposition of 143,343
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
Page 5 of 7
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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.
February 12, 1998
-----------------------------------
(Date)
/s/ W. E. Gwaltney, Jr.
-----------------------------------
(Signature)
W. E. Gwaltney, Jr.
-----------------------------------
(Name/Title)
GWALTNEY INTERESTS, LIMITED.
By: /s/ W. E. Gwaltney, Jr.
--------------------------------
W. E. Gwaltney, Jr.
Its:
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Page 6 of 7
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EXHIBIT 1
AGREEMENT
The undersigned reporting person hereby agrees that the statements filed
pursuant to this Schedule 13G dated February 12, 1998, to which this Agreement
is filed as an exhibit, is filed on behalf of him.
/s/ W. E. Gwaltney, Jr.
-----------------------------------
W. E. Gwaltney, Jr.
GWALTNEY INTERESTS, LIMITED.
By: /s/ W. E. Gwaltney, Jr.
--------------------------------
W. E. Gwaltney, Jr.
Its:
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Page 7 of 7
