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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
New Commerce Bancorp
(Name of Issuer)
Common Stock
(Title of Class of Securities)
643598105
(CUSIP Number)
James D. Stewart
One Five Forks Plaza Court
Simpsonville, SC 29681
Telephone: (864) 288-3337
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
December 22, 1999
--------------------------------
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
schedule is filed.
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*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).
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Cusip No. 643598105
SCHEDULE 13G
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
James D. Stewart
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5 SOLE VOTING POWER
NUMBER OF 52,096
SHARES ----------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH
52,096
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8 SHARED DISPOSITIVE POWER
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
52,096
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10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.21%
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12 TYPE OF REPORTING PERSON*
IN
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Cusip No. 643598105
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
David H. Matthews
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5 SOLE VOTING POWER
NUMBER OF 80,000
SHARES ----------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH
80,000
----------------------------------------------------
8 SHARED DISPOSITIVE POWER
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
80,000
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10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.0%
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12 TYPE OF REPORTING PERSON*
Outside investor
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Cusip No. 643598105
ITEM 1(A). NAME OF ISSUER
The name of the issuer is New Commerce Bancorp.
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
The principal executive offices of the issuer are located at One Five
Forks Plaza Court, Simpsonville, South Carolina 29681
ITEM 2(A). NAME OF PERSONS FILING
This statement is being filed by James D. Stewart and David H.
Matthews.
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE
One Five Forks Plaza Court, Simpsonville, South Carolina 29681
ITEM 2(C). CITIZENSHIP
James D. Stewart - United States of America
David H. Matthews - United States of America
ITEM 2(D). TITLE OF CLASS OF SECURITIES
This statement relates to Common Stock.
ITEM 2(E). CUSIP NUMBER
The CUSIP Number for New Commerce Bancorp is 643598105
ITEM 3. THIS STATEMENT IS NOT BEING FILED PURSUANT TO RULES 13 D-1(B) OR 13
D-2 (B)
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Cusip No. 643598105
ITEM 4. OWNERSHIP
(a) Amount Beneficially Owned:
James D. Stewart 52,096
David H. Matthews 80,000
(b) Percent of Class:
James D. Stewart 5.21%
David H. Matthews 8.00%
(c) Number of shares as to which the person has:
(i) sole power to vote or to direct the vote
James D. Stewart 52,096
David H. Matthews 80,000
(ii) shared power to vote or to direct the vote
James D. Stewart 0
David H. Matthews 0
(iii) sole power to dispose or to direct the
disposition of
James D. Stewart 52,096
David H. Matthews 80,000
(iv) shared power to dispose or to direct the
disposition of
James D. Stewart 0
David H. Matthews 0
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
Not Applicable
ITEM 6. OWNERSHIP OF MORE THAN FIVE 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.
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Cusip No. 643598105
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not Applicable.
ITEM 10. CERTIFICATION
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
Exhibits 1. Joint Filing Agreement
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Cusip No. 643598105
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.
Dated: December 22, 1999
/s/ James D. Stewart
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James D. Stewart
/s/ David H. Matthews
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David H. Matthews
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Cusip No. 643598105
Exhibit No. 1
JOINT FILING AGREEMENT
JOINT FILING AGREEMENT AMONG James D. Stewart and David H. Matthews.
WHEREAS, in accordance with Rule 13d-l (k) under the Securities
Exchange Act of 1934 (the "Act"), only one statement containing the information
required by Schedule 13G and any amendments thereto need be filed whenever two
or more persons are required to file such a statement or any amendments thereto
with respect to the same securities, provided that said persons agree in writing
that such statement or any amendment thereto is filed on behalf of them.
NOW, THEREFORE, in consideration of the premises and mutual agreement
contained herein, the parties hereto agree as follows:
James D. Stewart and David H. Matthews do hereby agree, in accordance
with Rule 13d-1 (k) under the Act, to file a Schedule 13G and any amendments
thereto, relating to their ownership of the common stock of New Commerce Bancorp
and do hereby further agree that said Schedule 13G shall be filed on behalf of
each of them.
Date: December 22, 1999
/s/ James D. Stewart
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James D. Stewart
/s/ David H. Matthews
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David H. Matthews
