SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 9)*
First Franklin Corporation
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
320272107
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(CUSIP Number)
Thomas H. Siemers
c/o First Franklin Corporation
4750 Ashwood Drive
Cincinnati, OH 45241
(513) 469-8000
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 6, 1996
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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(b)(3) or (4), check the following
box. ____
Check the following box if a fee is being paid with this 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: 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).
Page 1 of 6 Pages
<PAGE>
SCHEDULE 13D
CUSIP NO. 320272107 Page 2 of 6 Pages
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF REPORTING PERSON:
Thomas H. Siemers
###-##-####
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ___
(b) X
3. SEC USE ONLY:
4. SOURCE OF FUNDS:
OO
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e): _____
6. CITIZENSHIP OR PLACE OF ORGANIZATION:
United States
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
(These numbers reflect a recent two-for-one stock split)
7. SOLE VOTING POWER: 96,758
8. SHARED VOTING POWER: 18,600
9. SOLE DISPOSITIVE POWER: 160,262
10. SHARED DISPOSITIVE POWER: 18,600
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
178,862
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: _____
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
15.13%
14. TYPE OF REPORTING PERSON:
IN
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Page 3 of 6 Pages
ITEM 1. SECURITY AND ISSUER
The class of equity securities to which this amendment relates to is the
Common Stock, $.01 par value (the "Common Stock"), of First Franklin
Corporation ("First Franklin"). First Franklin's main office is located at
4750 Ashwood Drive, Cincinnati, Ohio 45241. It owns 100% of the shares of
common stock of The Franklin Savings and Loan Company, a savings and loan
association in Cincinnati ("Franklin Savings").
ITEM 2. IDENTITY AND BACKGROUND
The name and business address of the person filing this amendment is Thomas H.
Siemers, First Franklin Corporation, 4750 Ashwood Drive, Cincinnati, Ohio
45241. Mr. Siemers is President and Chief Executive Officer of First Franklin
and Franklin Savings.
During the last five years, Mr. Siemers has not been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors).
During the last five years, Mr. Siemers has not been a party to any court
proceeding of a judicial or administrative body of competent jurisdiction,
which resulted in him being subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities subject
to, federal or state securities laws, or in a finding of any violation of such
laws.
Mr. Siemers is a citizen of the United States.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Since the filing of his last amendment in April 1995, Mr. Siemers has
increased his beneficial ownership through the exercise of stock options,
allocations from The Franklin Savings & Loan Company Employee Stock Ownership
Plan (the "ESOP") and acquisitions of shares by the ESOP, of which Mr. Siemers
serves as trustee. During 1996 to date, he has exercised options for 5,000
shares at an exercise price of $5.00 per share. The funds for this exercise of
options, or $25,000, came from personal funds. In January 1996, the ESOP
allocated 2,476 shares of Common Stock previously purchased with funds
contributed by Franklin Savings to Mr. Siemers' account. During 1996, 11,616
shares of Common Stock were purchased by the ESOP for an aggregate of
$173,550, with funds contributed by Franklin Savings.
<PAGE>
Page 4 of 6 Pages
ITEM 4. PURPOSE OF TRANSACTION
Shares beneficially owned by Mr. Siemers have been acquired for investment.
Mr. Siemers may from time to time, depending upon market conditions and other
investment considerations, purchase additional shares of First Franklin for
investment through the exercise of options or in the open market or may
dispose of shares of First Franklin. The ESOP, over which Mr. Siemers serves
as trustee, may purchase or dispose of shares of First Franklin. Mr. Siemers
is also trustee of The Franklin Savings and Loan Company Defined Benefit
Pension Plan, a tax-qualified employee pension plan (the "Pension Plan"),
which may purchase or dispose of shares of First Franklin.
As President and Chief Executive Officer of First Franklin and Franklin
Savings, Mr. Siemers is involved in material decision making by First
Franklin. He, at times, explores potential actions and transactions that may
be advantageous to First Franklin and Franklin Savings, including possible
mergers, acquisitions, reorganizations or other material changes in the
business, corporate structure, management policies, governing instruments,
securities or the regulatory and reporting obligations of First Franklin and
Franklin Savings.
The control regulations of the Office of Thrift Supervision ("OTS") and First
Franklin's Certificate of Incorporation establish limitations on acquisitions
in excess of 10% of First Franklin's shares. In April 1992, the Board of First
Franklin requested and received shareholder authorization for Mr. Siemers' to
exceed the 10% stock ownership limitation contained in First Franklin's
Certificate of Incorporation. In addition, Mr. Siemers submitted a Notice of
Change in Control with the OTS under its control regulations to acquire shares
in excess of 10%. The OTS did not object to the Notice. Mr. Siemers has
recently submitted a modification of the Notice to reflect his current
holdings under OTS regulations.
Except as noted above with respect to Mr. Siemers' activities on behalf of
First Franklin and Franklin Savings as their President, Mr. Siemers has no
plans or proposals which relate to or would result in:
(a) the acquisition by any person of additional securities of First Franklin,
or the disposition of securities by First Franklin;
(b) an extraordinary corporate transaction, such as a merger, reorganization
or liquidation, involving First Franklin or any of its subsidiaries;
(c) a sale or transfer of material amount of assets of First Franklin or any
of its subsidiaries;
(d) any change in the present Board of Directors or management of First
Franklin, including any plans or proposals to change the number or term
of directors or to fill any existing vacancies on the Board;
(e) any material change in the present capitalization or dividend policy of
First Franklin;
(f) any other material change in First Franklin's business or corporate
structure;
(g) changes in First Franklin's articles of incorporation, bylaws or
instruments corresponding thereto or other actions which may impede the
acquisition of control of First Franklin by any persons;
(h) a class of securities of First Franklin being delisted from a national
securities exchange or to ceasing to be authorized to be quoted in an
inter-quotation system of a registered national securities association;
(i) a class of equity securities of First Franklin becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the
Securities Exchange Act of 1934; or
(j) any action similar to any of those enumerated above.
<PAGE>
Page 5 of 6 Pages
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Mr. Siemers beneficially owns 178,862 or 15.13% shares of Common Stock of
First Franklin, of which 63,504 shares are beneficially owned as a result of
his serving as trustee of the ESOP and Pension Plan.
Mr. Siemers owns 50,380 shares individually over which he has sole voting and
investment power. He owns options to purchase 23,972 shares, which he might
exercise at any time (subject to Section 16 limitations). He would have sole
voting and investment power over such shares. There are 22,406 shares
allocated to Mr. Siemers account in the ESOP, over which he exercises sole
voting power.
As trustee of the ESOP, he has no voting power over shares allocated to others
or over unallocated shares. He has investment power over 48,504 shares in the
ESOP, which are either unallocated or are allocated to the ESOP accounts of
others as to those shares in excess of 51% of the shares in such accounts. As
trustee of the Pension Plan, he has sole voting and investment power over
15,000 shares.
He has joint voting and investment power over 18,600 shares owned jointly with
his spouse, Susan Siemers, whose residential address is 6927 Whippoorwill
Drive, Cincinnati, Ohio 45230
Mrs. Siemers, the ESOP and the Pension Plan disclaim beneficial ownership of
any shares of First Franklin beneficially owned by Mr. Siemers that are not
those reported above as being owned by each of them. Mr. Siemers expressly
disclaims beneficial ownership of shares of First Franklin owned by his adult
children who do not live with him.
This amendment has been submitted because Mr. Siemers' level of beneficial
ownership has increased by over 1% since April 1995, primarily as a result of
stock repurchases by First Franklin or its ESOP. During 1996, the ESOP or
First Franklin have purchased 41,316 shares. The purchase of 11,616 shares by
the ESOP has increased the number of shares held by Mr. Siemers and the
repurchases by First Franklin have reduced the number of outstanding shares.
Mr. Siemers also acquired 5,000 shares in 1996 through the exercise of stock
options.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR
RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER
Other than the provisions in the ESOP and Pension Plan governing Mr. Siemers'
role as trustee thereof, there are no contracts, arrangements, understandings
or relationships (legal or otherwise) between Mr. Siemers and any other person
with respect to any securities of the issuer, including but not limited to,
transfer or voting of any of such securities, finder's fees, joint ventures,
loan or option arrangements, put or calls, guarantees of profits, divisions of
profits or loss, or the giving or withholding of proxies. None of the First
Franklin Common Stock beneficially owned by Mr. Siemers is pledged or
otherwise subject to a contingency the occurrence of which would give another
person voting power or investment power over such shares (excluding standard
default and similar provisions contained in loan agreements).
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
A. The Pension Plan (filed as an exhibit to Mr. Siemers' Schedule 13D dated
February 18, 1988, which is hereby incorporated by reference).
B. The ESOP (filed as an exhibit to Mr. Siemers' Schedule 13D dated February
18, 1988, which is hereby incorporated by reference).
<PAGE>
Page 6 of 6 Pages
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.
Date: November 14, 1996
By: Thomas H. Siemers
_______________________________
Thomas H. Siemers
