BELMONT BANCORP
Supplement dated June 15, 2000 to
Prospectus dated May 17, 2000
Selling Agent
The total number of shares to be offered in this offering is 3,000,000
shares. Of the 3,000,000 shares being offered, we are offering 1,500,000 shares
directly to existing depositors, shareholders and others, and Beaconsfield
Financial Services, Inc., a registered broker-dealer, has entered into a selling
agreement with us under which Beaconsfield will seek to sell, on a best efforts
basis, the other 1,500,000 shares. We have agreed to pay Beaconsfield a selling
commission equal to 15% of the shares sold through its efforts. The following
table shows the incremental proceeds to Belmont from the sales by Beaconsfield
if 500,000, 1,000,000 or the total 1,500,000 shares to be offered through
Beaconsfield are sold.
<TABLE>
<CAPTION>
Proceeds Selling Proceeds
from Public Commission to Belmont
----------- ---------- ----------
<S> <C> <C> <C>
Assuming 500,000 shares
are sold through Beaconsfield $1,000,000 $ 150,000 $ 850,000
Assuming 1,000,000 shares
are sold through Beaconsfield $2,000,000 $ 300,000 $1,700,000
Assuming 1,500,000 shares
are sold through Beaconsfield $3,000,000 $ 450,000 $2,550,000
</TABLE>
Representations for Michigan Investors
We represent that we have and will maintain at least two independent
directors on our board of directors. Further, all future material affiliated
transactions and loans will be made or entered into on terms that are no less
favorable to us than those that could be obtained from unaffiliated third
parties and all future material affiliated transactions and loans and any
forgiveness of loans must be approved by a majority of our independent directors
who do not have an interest in the transactions. If we have only two independent
directors on our board of directors, neither shall have an interest in the loans
or other affiliated material transactions and both must approve the loans or
other transactions.
