1ST ATLANTIC GUARANTY CORP
NT 10-Q, 2000-02-14
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                     U.S. SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                   FORM 12B-25

                                                       SEC File Number 333-41361

                           NOTIFICATION OF LATE FILING

(Check One):

[ ] Form 10-K [ ] Form 11-K [ ] Form 20-F [X] Form 10-Q
[ ] Form N-SAR For Period Ended: December 31, 1999
                                 -----------------

         Nothing in this form shall be  construed  to imply that the  Commission
has verified any information contained herein.

         If the  notification  relates to a portion of the filing checked above,
identify the Items(s) to which notification relates:______________________

    ------------------------------------------------------------------------
                        PART I - REGISTRANT INFORMATION
    ------------------------------------------------------------------------

         Full Name of Registrant: 1st ATLANTIC GUARANTY CORPORATION

         Former Name if Applicable:

         Address of Principal Executive Office (Street and Number):
            7920 NORFOLK AVENUE, SUITE 1150, BETHESDA, MD 20814-2595

    ------------------------------------------------------------------------
                        PART II - RULES 12B-25(B) AND (C)
    ------------------------------------------------------------------------

         If the subject report could not be filed without unreasonable effort or
expense  and  the  registrant  seeks  relief  pursuant  to Rule  12b-25(b),  the
following should be completed. (Check box if appropriate)

[ ] (a) The reasons  described in  reasonable  detail in Part III of this
        form could not be eliminated without unreasonable effort or expense;

[X] (b) The  subject  Quarterly  Report  on Form  10-Q  will be filed on or
        before the fifth calendar day following the prescribed due date; and

<PAGE>

[ ] (c) The  accountant's  statement or other exhibit required by Rule 12b-25(c)
        has been attached if applicable.

    ------------------------------------------------------------------------
                              PART III - NARRATIVE
    ------------------------------------------------------------------------

State  below in  reasonable  detail the  reasons  why the Form 10-A could not be
filed within the prescribed time period.

     Awaiting finalization of accounting detail

    ------------------------------------------------------------------------
                          PART IV - OTHER INFORMATION
    ------------------------------------------------------------------------

     (1) Name and  telephone  number  of  person  to  contact  in regard to this
notification:

         JOHN J. LAWBAUGH                                 301 - 656-4200
  ------------------------------------------------------------------------------
            (Name)                                (Area Code) (Telephone Number)

     (2) Have all other periodic  reports  required under Section 13 or 15(d) of
the Securities  Exchange Act of 1934 or Section 30 of the Investment Company Act
of 1940  during the  preceding  12 months or for such  shorter  period  that the
registrant was required to file such report(s) been filed?  If the answer is no,
identify report(s).

                                                                  [ ] Yes [X] No

     FORM 10-K PURSUANT TO SECTIONS 13 AND 15(D) UNDER THE  SECURITIES  EXCHANGE
     ACT OF 1934 FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2000

     (3) Is it anticipated that any significant  change in results of operations
from the corresponding  period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?

     If so: attach an explanation of the anticipated  change,  both  narratively
and  quantitatively,  and, if  appropriate,  state the reasons why a  reasonable
estimate of the results cannot be made.

                        1st ATLANTIC GUARANTY CORPORATION
    ------------------------------------------------------------------------
                  (Name of Registrant as specified in charter)

has  caused  this  notification  to be signed on its  behalf by the  undersigned
thereunto duly authorized.

Date: Feb 14, 2000                                   By: /s/JOHN J. LAWBAUGH
      ------------                                       -----------------------
                                                         John J. Lawbaugh
                                                         President and Treasurer


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