SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A*
Under the Securities Exchange Act of 1934
(Amendment No. 1)**
INDEPENDENT BANKSHARES, INC.
(Name of Issuer)
Common Stock, par value $0.25 per share
(Title of Class of Securities)
453841 20 7
(CUSIP Number)
December 31, 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)
[ ] Rule 13d-1(c)
[X] Rule 13d-1(d)
* A previous report on Schedule 13D was filed on January 11,
1993, Schedule 13G on January 17, 1998 and Schedule 13G/A on
February 15, 1999. This Schedule 13G/A supplements and replaces
such originally filed Schedule 13D and Schedule 13G.
** 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 the disclosures provided
in a prior cover page.
The information required in 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. 453841 20 7 13G/A
(1) Name of Reporting Person Independent Bankshares, Inc.
Employee Stock Ownership/401(k) Plan
I.R.S. Identification No. of Above Person
(entities only) 75-1717279
- -----------------------------------------------------------------
(2) Check the Appropriate Box if a (a) [ ]
Member of a Group* (b) [X]
- -----------------------------------------------------------------
(3) SEC Use Only
- -----------------------------------------------------------------
(4) Citizenship Texas, United States
- -----------------------------------------------------------------
Number of Shares
Beneficially
Owned by Each
Reporting Person
With: (5) Sole Voting Power 0
- -----------------------------------------------------------------
(6) Shared Voting Power 0
- -----------------------------------------------------------------
(7) Sole Dispositive Power 142,674(1)
- -----------------------------------------------------------------
(8) Shared Dispositive Power 0
- -----------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned 142,674(1)
by Each Reporting Person
- -----------------------------------------------------------------
(10) Check if the Aggregate Amount in [ ]
Row (9) Excludes Certain Shares*
- -----------------------------------------------------------------
(11) Percent of Class Represented by 6.3%
Amount in Row (9)
- -----------------------------------------------------------------
(12) Type of Reporting Person* EP
- -----------------------------------------------------------------
* SEE INSTRUCTIONS
______________
(1) Excludes 15,633 shares for which the Independent Bankshares,
Inc. Employee Stock Ownership/401(k) Plan (the "Plan")
participants have sole voting and sole dispositive power.
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CUSIP NO. 453841 20 7 13G/A
(1) Name of Reporting Person Nancy E. Jones
I.R.S. Identification No. of Above Person (entities only)
- -----------------------------------------------------------------
(2) Check the Appropriate Box if a (a) [ ]
Member of a Group* (b) [X]
- -----------------------------------------------------------------
(3) SEC Use Only
- -----------------------------------------------------------------
(4) Citizenship United States
- -----------------------------------------------------------------
Number of Shares
Beneficially
Owned by Each
Reporting Person
With: (5) Sole Voting Power 300
- -----------------------------------------------------------------
(6) Shared Voting Power 0
- -----------------------------------------------------------------
(7) Sole Dispositive Power 300
- -----------------------------------------------------------------
(8) Shared Dispositive Power 142,974(1)
- -----------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned 142,974(1)
by Each Reporting Person
- -----------------------------------------------------------------
(10) Check if the Aggregate Amount in [ ]
Row (9) Excludes Certain Shares*
- -----------------------------------------------------------------
(11) Percent of Class Represented by 6.3%
Amount in Row (9)
- -----------------------------------------------------------------
(12) Type of Reporting Person* IN
- -----------------------------------------------------------------
* SEE INSTRUCTIONS
______________
(1) Includes 142,674 shares held by the Plan for which Ms.
Jones, as an administrator of the Plan, shares dispositive
power. Excludes 15,633 shares for which the Plan participants
have sole voting and sole dispositive power. Pursuant to
Rule 13d-4, Ms. Jones disclaims beneficial ownership of the
shares of common stock held by the Plan and, as such, declares
that this
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CUSIP NO. 453841 20 7 13G/A
statement shall not be construed as an admission that such
person is the beneficial owner of any securities held by the
Plan.
<PAGE>
CUSIP NO. 453841 20 7 13G/A
(1) Name of Reporting Person Scott L. Taliaferro
I.R.S. Identification No. of Above Person (entities only)
- -----------------------------------------------------------------
- -
(2) Check the Appropriate Box if a (a) [ ]
Member of a Group* (b) [X]
- -----------------------------------------------------------------
- -
(3) SEC Use Only
- -----------------------------------------------------------------
- -
(4) Citizenship United States
- -----------------------------------------------------------------
- -
Number of Shares
Beneficially
Owned by Each
Reporting Person
With: (5) Sole Voting Power 84,361(1)
- -----------------------------------------------------------------
(6) Shared Voting Power 0
- -----------------------------------------------------------------
(7) Sole Dispositive Power 84,361(1)
- -----------------------------------------------------------------
(8) Shared Dispositive Power 227,035(2)
- -----------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned 227,035(2)
by Each Reporting Person
- -----------------------------------------------------------------
(10) Check if the Aggregate Amount in [ ]
Row (9) Excludes Certain Shares*
- -----------------------------------------------------------------
(11) Percent of Class Represented by 10.0%
Amount in Row (9)
- -----------------------------------------------------------------
(12) Type of Reporting Person* IN
- -----------------------------------------------------------------
* SEE INSTRUCTIONS
______________
(1) Includes 1,240 shares held by Mr. Taliaferro's wife.
(2) Includes 142,674 shares held by the Plan for which Mr.
Taliaferro, as an administrator of the Plan, shares
dispositive power. Excludes 15,633 shares for which the
Plan participants have sole voting and sole dispositive
power. Pursuant to Rule 13d-4, Mr. Taliaferro disclaims
beneficial ownership of the shares of common stock held by
the Plan and, as such, declares that
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CUSIP NO. 453841 20 7 13G/A
this statement shall not be construed as an admission that
such person is the beneficial owner of any securities held
by the Plan.
<PAGE>
CUSIP NO. 453841 20 7 13G/A
(1) Name of Reporting Person James D. Webster, M.D.
I.R.S. Identification No. of Above Person (entities only)
- -----------------------------------------------------------------
(2) Check the Appropriate Box if a (a) [ ]
Member of a Group* (b) [X]
- -----------------------------------------------------------------
(3) SEC Use Only
- -----------------------------------------------------------------
(4) Citizenship United States
- -----------------------------------------------------------------
Number of Shares
Beneficially
Owned by Each
Reporting Person
With: (5) Sole Voting Power 885
- -----------------------------------------------------------------
(6) Shared Voting Power 0
- -----------------------------------------------------------------
(7) Sole Dispositive Power 885
- -----------------------------------------------------------------
(8) Shared Dispositive Power 143,559(1)
- -----------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned 143,559(1)
by Each Reporting Person
- -----------------------------------------------------------------
(10) Check if the Aggregate Amount in [ ]
Row (9) Excludes Certain Shares*
- -----------------------------------------------------------------
(11) Percent of Class Represented by 6.3%
Amount in Row (9)
- -----------------------------------------------------------------
(12) Type of Reporting Person* IN
- -----------------------------------------------------------------
* SEE INSTRUCTIONS
______________
(1) Includes 142,674 shares held by the Plan for which Dr.
Webster, as an administrator of the Plan, shares dispositive
power. Excludes 15,633 shares for which the Plan
participants have sole voting and sole dispositive power.
Pursuant to Rule 13d-4, Dr. Webster disclaims beneficial
ownership of the shares of common stock held by the Plan
and, as such, declares that
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CUSIP NO. 453841 20 7 13G/A
this statement shall not be construed as an admission that
such person is the beneficial owner of any securities held
by the Plan.
<PAGE>
CUSIP NO. 453841 20 7 13G/A
Item 1(a). Name of issuer:
Independent Bankshares, Inc. (the "Issuer")
Item 1(b). Address of Issuer's principal executive
offices:
547 Chestnut Street, Abilene, Texas 79602
Item 2(a). Name of person filing:
Independent Bankshares, Inc. Employee
Stock Ownership/401(k) Plan (the "Plan") is a
Texas trust. Ms. Nancy E. Jones, Scott L.
Taliaferro and James D. Webster, M.D (collectively
with the Plan, the "Reporting Persons") are
members of the committee that administers the
Plan.
Item 2(b). Address of principal business office or, if
none, residence:
The principal business address of each
of the Reporting Persons is 547 Chestnut Street,
Abilene, Texas 79602
Item 2(c). Citizenship:
The Plan is an employee benefit plan
organized in the State of Texas. Nancy E. Jones,
Scott L. Taliaferro and James D. Webster, M.D.
are each citizens of the United States.
Item 2(d). Title of class of securities:
Common Stock, $0.25 par value per share,
of the Issuer.
Item 2(e). CUSIP No.:
453841 20 7
Item 3. If this statement is filed pursuant to Sections 13d-
1(b), or 13d-2(b) or (c), check whether the person
filing is a:
(a) [ ] Broker or dealer registered
under section 15 of the Act (15 U.S.C. 78o);
(b) [ ] Bank as defined in section
3(a)(6) of the Act (15 U.S.C. 78c);
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CUSIP NO. 453841 20 7 13G/A
(c) [ ] Insurance company as defined
in section 3(a)(19) of the Act (15 U.S.C.
78c);
(d) [ ] Investment company registered
under section 8 of the Investment Company Act
of 1940 (15 U.S.C. 80a-8);
(e) [ ] An investment adviser in
accordance with 240.13d-1(b)(1)(ii)(E);
(f) [X] An employee benefit plan or
endowment fund in accordance with
240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or
control person in accordance with
240.13d-1(b)(ii)(G);
(h) [ ] A savings association as
defined in section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded
from the definition of an investment company
under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with
240.13d-1(b)(1)(ii)(J)
Item 4. Ownership:
The Plan
--------
(a) Amount beneficially owned: 142,674(FN1)
(b) Percent of class: 6.3%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote: 0
(iii) sole power to dispose or
to direct the disposition of: 142,674(1)
(FN1) Excludes 15,633 shares for which Plan participants
have sole voting and dispositive power.
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CUSIP NO. 453841 20 7 13G/A
(iv) shared power to dispose or to
direct the disposition of: 0
Nancy E. Jones
--------------
(a) Amount beneficially owned: 142,974 (FN1)(FN2)
(b) Percent of class: 6.3%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 300
(ii) shared power to vote or to direct the vote: 0
(iii) sole power to dispose or
to direct the disposition of: 300
(iv) shared power to dispose or to
direct the disposition of: 142,974 (FN1)(FN2)
Scott L. Taliaferro
-------------------
(a) Amount beneficially owned: 227,035(FN1)(FN3)(FN4)
(b) Percent of class: 10.0%
(c) Number of shares as to which such person has:
(i) sole power to vote or direct the vote: 84,361
(ii) shared power to vote or to direct the vote: 0
(iii) sole power to dispose or
to direct the disposition of: 79,961(FN4)
(iv) shared power to dispose or to
direct the disposition of:
227,035(FN1)(FN3)(FN4)
James D. Webster, M.D.
----------------------
- -----------------------
(FN2) Includes 142,674 shares held by the Plan for which
Ms. Jones, as an administrator of the Plan, shares
dispositive power. Ms. Jones disclaims beneficial
ownership of such shares.
(FN3) Includes 142,674 shares held by the Plan for which
Mr. Taliaferro, as an administrator of the Plan, shares
dispositive power. Mr. Taliaferro disclaims beneficial
ownership of such shares.
(FN4) Includes 1,240 shares held by Mr. Taliaferro's wife.
<PAGE>
CUSIP NO. 453841 20 7 13G/A
(a) Amount beneficially owned: 143,559(FN1)(FN5)
(b) Percent of class: 6.3%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 885
(ii) shared power to vote or to direct the vote: 0
(iii) sole power to dispose or
to direct the disposition of: 885
(iv) shared power to dispose or to
direct the disposition of: 143,559(FN1)(FN5)
The Plan is administered by the Issuer's Compensation
Committee, whose members at December 31, 1999, were Nancy E.
Jones, Scott L. Taliaferro and James D. Webster, M.D. Such
committee members disclaim any beneficial ownership of the
shares of the Plan referenced herein.
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 or control person:
Not Applicable.
Item 8. Identification and classification of members of the
group:
This statement on Schedule 13G has been filed by a
group under Rule 13d-1(d). Attached as Exhibit A is a
Joint Filing Statement executed by each member of such
group.
- ------------------
(FN5) Includes 142,674 shares held by the Plan for which
Dr. Webster, as an administrator of the Plan, shares
dispositive power. Dr. Webster disclaims beneficial
ownership of such shares.
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CUSIP NO. 453841 20 7 13G/A
Item 9. Notice of dissolution of group:
Not Applicable.
Item 10. Certifications:
By signing below, the undersigned certify that, to
the best of the undersigneds' knowledge and belief, the
securities referred to above were acquired in the
ordinary course of business and were not acquired for
the purpose of and do not have the effect of changing
or influencing the control of the Issuer of such
securities and were not acquired in connection with or
as a participant in any transaction having such purpose
or effect.
[Signature page follows]
<PAGE>
CUSIP NO. 453841 20 7 13G/A
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, the undersigned certify that the information set forth in
this statement is true, complete and correct.
Dated: February 14, 2000
INDEPENDENT BANKSHARES, INC.
EMPLOYEE STOCK OWNERSHIP/401(k)
PLAN
By: /s/ NANCY E. JONES
------------------------------
Nancy E. Jones,
Compensation Committee Member
and Administrator of the Plan
By: /s/ SCOTT L. TALIFERRO
------------------------------
Scott L. Taliaferro,
Compensation Committee Member
and Administrator of the Plan
By: /s/ JAMES D. WEBSTER, M.D.
-------------------------------
James D. Webster, M.D.,
Compensation Committee Member
and Administrator of the Plan
/s/NANCY E. JONES
-----------------------------------
Nancy E. Jones
/s/ SCOTT L. TALIAFERRO
-----------------------------------
Scott L. Taliaferro
/s/ JAMES D. WEBSTER, M.D.
-----------------------------------
James D. Webster, M.D.
ATTENTION: Intentional misstatements or
omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)
<PAGE>
CUSIP NO. 453841 20 7 13G/A
EXHIBIT A
JOINT FILING STATEMENT
Pursuant to Rule 13d-1(k)(1), we, the undersigned, hereby
express our agreement that the attached Schedule 13G/A is filed
on behalf of each of us.
Dated: February 14, 2000
INDEPENDENT BANKSHARES, INC.
EMPLOYEE STOCK OWNERSHIP/401(k)
PLAN
By: /s/ NANCY E. JONES
-------------------------------
Nancy E. Jones,
Compensation Committee member
and Administrator of the Plan
By: /s/ SCOTT L. TALIAFERRO
--------------------------------
Scott L. Taliaferro, Compensation
Committee member and Administrator
of the Plan
By: /s/ JAMES D. WEBSTER
--------------------------------
James D. Webster, M.D.,
Compensation Committee member and
Administrator of the Plan
/s/NANCY E. JONES
-----------------------------------
Nancy E. Jones
/s/ SCOTT L. TALIAFERRO
-----------------------------------
Scott L. Taliaferro
/s/JAMES D. WEBSTER
-----------------------------------
James D. Webster, M.D.
