UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. _______)1
Ipswich Bancshares, Inc.
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(Name of Issuer)
Common Stock, $.10 par value
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(Title of Class of Securities)
462633 10 8
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(CUSIP Number)
David L. Grey, Ipswich Bancshares, Inc., 23 Market Street, Ipswich, MA 01938
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(Name, address and Telephone Number of Person Authorized to Receive Notices
and Communications)
August 14, 2000
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box o.
Note: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom
(Continued on following pages)
(Page 1 of 4 Pages)
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1 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).
<PAGE>
SCHEDULE 13D
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CUSIP No. 462633 10 8 Page 2 of 4
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S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
David L. Grey
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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 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER
number of 152,631
shares ------ --------------------------------------------------
beneficially
owned by 8 SHARED VOTING POWER
each
reporting 202,234
person ------ --------------------------------------------------
with
9 SOLE DISPOSITIVE POWER
152,631
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10 SHARED DISPOSITIVE POWER
202,234
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
354,865
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [_]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.1%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE,
RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF
THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
Item 1. Security and Issuer
This statement relates to the common stock, $.10 par value, of Ipswich
Bancshares, Inc., Ipswich, Massachusetts 01938.
Item 2. Identity and Background
(a) Name: David L. Grey
(b) Business Address: Ipswich Bancshares, Inc.
23 Market Street
Ipswich, Massachusetts 01938
(c) Occupation: President and Chief Executive Officer
Ipswich Bancshares, Inc. and Ipswich Savings Bank
23 Market Street
Ipswich, Massachusetts 01938
(d) Mr. Grey has not been convicted in a criminal proceeding (excluding
traffic violations or similar misdemeanors) during the last five
years.
(e) Mr. Grey is not subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating
activities subject to Federal or State securities laws as a
result of being a party to a civil proceeding during the last
five years.
(f) Citizenship: United States
Item 3. Source and Amount of Funds or other Consideration
Mr. Grey's ownership of the issuer's common stock has increased by more
than 1% since the filing of Amendment No. 3 on Form F-11 with the FDIC in August
1996 primarily as a result of the grant and vesting of options to purchase
shares of the issuer's common stock.
Item 4. Purpose of Transaction
As the President and Chief Executive Officer of the issuer, Mr. Grey has
been granted options to purchase shares of the issuer's common stock. The
remaining shares of the issuer's common stock owned by Mr. Grey or family
members were purchased for investment purposes.
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<PAGE>
Item 5. Interest in Securities of the Issuer
(a) Mr. Grey is the beneficial owner of 354,865 shares of the common
stock of the issuer, representing approximately 14.1% of the 2,412,027 shares
outstanding as of June 30, 2000. This amount includes 100,000 shares subject to
exercisable options, 125,810 shares owned jointly with his wife, 50,740 shares
owned directly by his wife, 1,350 shares held by his wife as custodian for their
children, 33,811 shares held by Mr. Grey in a self-directed IRA, 24,334 shares
held by Mr. Grey's wife in a self-directed IRA and 18,820 shares held in Mr.
Grey's 401(k) Plan. Mr. Grey disclaims beneficial ownership of shares owned by
his wife.
(b) Mr. Grey has sole dispositive and voting power with respect to
152,631 shares of common stock and shared dispositive and voting power with
respect to 202,234 shares of common stock.
(c) On August 14, 2000, Mr. Grey purchased 1,500 shares of the issuer's
Common Stock, 700 of which are held in his IRA and 750 of which are held in his
wife's IRA.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
Mr. Grey has no contracts, arrangements, understandings or relationships
(legal or otherwise) with other persons with respect to any securities of the
issuer.
Item 7. Materials 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, complete, and
correct.
August 17, 2000
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(Date)
David L. Grey
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(Signature)
David L. Grey
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(Name)
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