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OMB Approval
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO._______)*
CGB&L Financial Group, Inc.
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(Name of Issuer)
Common Stock Par Value, $.01 Per Share
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(Title of Class of Securities)
125270
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(CUSIP Number)
Philip R. Flaugher
540 East Eldorado, Decatur, Illinois 62523
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
September 22, 1998
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13 G to
report the acquisition that is the subjection of this Schedule 13D, and is
filing this schedule because of Sections 240.13d-1(e), 240.13d-1(f) or
240.13d-1(g), check the following box. / /
NOTE: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Section 240.13d-7
for other parties to whom copies are to be sent.
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
disclosures provided in a prior cover page.
The information required on 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).
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION
CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A
CURRENTLY VALID OMB CONTROL NUMBER.
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CUSIP No. 125270
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1. Name of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Philip R. Flaugher
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) N/A
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(b) -------------------
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3. SEC Use Only ------------------------------
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4. Source of Funds (See Instructions) PF
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e) N/A
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6. Citizenship or Place of Organization US Citizen
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Number of 7. Sole Voting Power 5,825
Shares Bene- --------------------------------------------------------------
ficially by 8. Shared Voting Power N/A
Owned by Each --------------------------------------------------------------
Reporting 9. Sole Dispositive Power 5,825
Person With --------------------------------------------------------------
10. Shared Dispositive Power N/A
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11. Aggregate Amount Beneficially Owned by Each Reporting Person 5,825
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) N/A
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13. Percent of Class Represented by Amount in Row (11) 5.88
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14. Type of Reporting Person (See Instructions)
IN
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ITEM 1. SECURITY AND ISSUER
This Statement relates to the common stock, $.01 par value per share (the
"Shares") of CGB&L Financial Group, Inc., a Delaware corporation (the
"Company").
ITEM 2. IDENTITY AND BACKGROUND
(a) The name of the reporting person is Philip R. Flaugher.
(b) Mr. Flaugher resides at 540 East Eldorado, Decatur, Illinois 62523.
(c) Mr. Flaugher's professional occupation is owner of Phil Flaugher Electric
Corporation.
(d) During the last five years, Mr. Flaugher has not been convicted in a
criminal proceeding (excluding traffic violations or similar violations).
(e) During the last five years, Mr. Flaugher has not been a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction.
(f) Mr. Flaugher is a United States citizen.
ITEM 3. SOURCE AND AMOUNT OF FUNDS AND OTHER CONSIDERATION
The total amount of funds required by the Reporting Person to acquire the
Shares reported in this Schedule 13D was $58,250. The Reporting Person's
personal assets were the source of such funds and no funds were borrowed for
such purposes.
ITEM 4. PURPOSE OF THE TRANSACTION
The purpose of the acquisition of the Shares reported in this Schedule 13D by
the Reporting Person is for investment, and the purchase of such Shares by
the Reporting Person was not made for the purpose of acquiring control of the
Company. The Reporting Person may make further purchases of Shares from time
to time and may dispose of any or all of the Shares held by him at any time.
The Reporting Person does not have any plans or proposals which related to,
or could result in, any of the matters referred to in paragraphs (b) through
(j), inclusive, of Item 4 of Schedule 13D. The Reporting Person may, at any
time and from time to time, review or reconsider his position and formulate
plans or proposals with respect thereto, but has no present intention of
doing so.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) Reporting Person is the beneficial owner of 5,825 Shares, or approximately
5.88% of the 99,000 Shares outstanding.
(b) Reporting Person has the sole power to vote and dispose of the Shares.
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(c) Reporting Person purchased the Shares on September 22, 1998 pursuant to the
Company's initial public offering of the Shares at a purchase price of $10
per share.
(d) Not applicable.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER
Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
None.
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 and correct.
Date: 10-14-98 /s/ Philip R. Flaugher
_______________________ _______________________________________
Signature
Philip R. Flaugher
_______________________________________
Name/Title
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