================================================
U.S. Securities and Exchange Commission
Washington, D.C. 20549
----------
FORM 10-QSB/A AMENDMENT NO.1
[ X ] AMENDMENT NO.1 TO QUARTERLY REPORT UNDER SECTION 13
OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended September 30, 1996
OR
[ ] TRANSITION REPORT UNDER SECTION 13
OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
----------
Commission File No. 0-8117
CHURCH LOANS & INVESTMENTS TRUST
State of Organization IRS Employer Identification
--------------------- ---------------------------
Texas No. 75-6030254
5305 I-40 West
Amarillo, Texas 79106
Registrant's telephone number: 806-358-3666
----------
Check whether the issuer (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.
Yes [ X ] No [ _ ]
As of September 30, 1996, 7,007,402 shares of the Registrant's shares of
beneficial interest were outstanding.
Transitional Small Business Disclosure Format (check one)
Yes [ _ ] No [ X ]
<PAGE>
CHURCH LOANS & INVESTMENTS TRUST
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant has
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
CHURCH LOANS & INVESTMENTS TRUST
DATE: February 7, 1997 BY:/s/ B.R. McMorries
-----------------------------
B.R. McMorries,
Chairman of the Board of
Trust Managers
DATE: February 7, 1997 BY:/s/ Kelly Archer
-----------------------------
Kelly Archer
Chief Financial Officer
- 1 -
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
================================================================================
This schedule contains summary financial information extracted from the
company's financial statements as of and for the nine months ended September
30, 1996 and is qualified in its entirety by reference to such financial
statements.
================================================================================
</LEGEND>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> Mar-31-1997
<PERIOD-START> Apr-01-1996
<PERIOD-END> Sep-30-1996
<CASH> 1,408,456
<SECURITIES> 0
<RECEIVABLES> 33,479,647
<ALLOWANCES> 765,213
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 658,342
<DEPRECIATION> 437,215
<TOTAL-ASSETS> 34,532,991
<CURRENT-LIABILITIES> 0
<BONDS> 0
0
0
<COMMON> 20,623,866
<OTHER-SE> 1,162,991
<TOTAL-LIABILITY-AND-EQUITY> 34,532,991
<SALES> 1,917,073
<TOTAL-REVENUES> 1,917,073
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 67,670
<LOSS-PROVISION> 45,000
<INTEREST-EXPENSE> 478,077
<INCOME-PRETAX> 1,066,794
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 1,066,794
<EPS-PRIMARY> .15
<EPS-DILUTED> .15
</TABLE>
