UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)*
GBC BANCORP
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(Name of Issuer)
COMMON STOCK, NO PAR VALUE
------------------------------
(Title of Class of Securities)
361475106
-----------------
(CUSIP Number)
Mr. Li-Pei Wu Tel. No. (213) 972-4118
c/o General Bank
800 West Sixth Street, Los Angeles, CA 90017
- --------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
- --------------------------------------------------------------
July 25, 1997
(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(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with the
statement [ ]. (A fee is not required only if the reporting
person: (1) has a previous statement on file reporting
beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of five
percent or less of such class.)
(See Rule 13d-7.)
NOTE: Six copies of this statement, including all exhibits,
should be filed with the Commission. See Rule 13d-1(a) 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).
SCHEDULE 13D
CUSIP NO. 361475106
<TABLE>
<C> <S>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
Li-Pei Wu
SS No. ###-##-####
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[ ]
(b)[ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
PF
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
NUMBER 7 SOLE VOTING POWER
OF 337,073
SHARES ------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 9,075
REPORTING ------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 337,073
------------------------------
10 SHARED DISPOSITIVE POWER
9,075
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
346,148
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.8%
14 TYPE OF REPORTING PERSON*
IN
</TABLE>
*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.
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
GBC Bancorp
------------------
(Name of Issuer)
Common Stock, No Par Value
------------------------------
(Title of Class of Securities)
351475106
--------------
(Cusip Number)
The Schedule 13D dated May 6, 1996 previously filed by Li-Pei
Wu is hereby amended as set forth below:
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Item 3 is hereby amended to delete the last two sentences of
the text thereof and to insert the following two new
paragraphs at the end of the item:
"On May 30, 1997 the reporting person sold 67,000 shares of
the issuer. This item is inapplicable relating to such a
sales transaction.
"On July 25, 1997 the reporting person exercised options to
acquire 69,000 shares of the issuer at the per share exercise
price of $13.18, for an aggregate option exercise price of
$909,420.00, and simultaneously selling such 69,000 shares at
the per share selling price of $43.125, for an aggregate
selling price of $2,975,625.00."
ITEM 4. PURPOSE OF TRANSACTION
Item 4 is hereby amended to insert the following two
paragraphs at the end of the item:
"This item is inapplicable to the reporting person's May 30,
1997 sale of shares of the issuer.
"The reporting person's purpose relating to the July 25, 1997
exercise of options and sale of related shares was to obtain
funds for personal reasons."
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Subclause (a) (i) of Item 5 is hereby amended by deleting such
subclause (a) (i) in its entirety and inserting in its stead
the following:
"(I) Aggregate number beneficially owned: 346,148 shares,
including 327,000 shares subject to options presently
exercisable or which will become exercisable within 60 days."
Subclause (a) (ii) of Item 5 is hereby amended by deleting
such subclause (a) (ii) in its entirety and inserting in its
stead the following:
"(ii) Percentage of class beneficially owned: 4.8%."
Subclause (b) (i) of Item 5 is hereby amended by deleting such
subclause (b) (i) in its entirety and inserting in its stead
the following:
"(i) Sole power to vote or to direct the vote: 337,073."
Subclause (b) (iii) of Item 5 is hereby amended by deleting
such subclause (b) (iii) in its entirety and inserting in its
stead the following:
"(iii) Sole power to dispose or to direct the disposition
of: 337,037."
Clause (c) of Item 5 is hereby amended to insert the following
three new paragraphs at the end of the item:
"On January 1, 1997, options held by the reporting person to
acquire 66,000 shares of the issuer became exercisable, at the
exercise price of $13.18 per share. These options were
granted under the GBC Bancorp Amended and Restated 1988 Stock
Option Plan, and are part of the stock options granted to the
reporting person by the issuer on December 19, 1991 pursuant
to the Restated Employment Agreement entered into on such date
between the reporting person and the issuer.
"On May 30, 1997 the reporting person sold 67,000 shares of
the issuer at the per share price of $35.75 in ordinary
broker's transaction.
"On July 25, 1997 the reporting person exercised options to
acquire 69,000 shares of the issuer at the per share exercise
price of $13.18. for an aggregate option exercise price of
$909,429.00 and simultaneously selling such 69,000 shares at
the per share price of $43.125 in ordinary broker's
transactions, for an aggregate selling price of
$2,975,625.00."
Except as amended as hereinabove set forth, there is no
further amendment or modification to the Schedule 13D
reviously filed by the reporting person, dated May 6, 1996.
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 13, 1997 LI-PEI WU
- --------------- ----------
Date Signature
Li-Pei Wu
- ----------------
Name/Title
