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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d - 102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULES 13d-1(b) AND (c) AND AMENDMENTS
THERETO FILED PURSUANT TO 13d-2(B)
(Amendment No. 2)(1)
Habersham Bancorp
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
404459109
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(CUSIP Number)
(1)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 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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SCHEDULE 13G
Page 2 of 5
CUSIP NO. 51588A100
<TABLE>
<CAPTION>
<S> <C> <C> <C>
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
David D. Stovall
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
N/A (b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 94,000*
OWNED BY
EACH
REPORTING
PERSON
WITH
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6 SHARED VOTING POWER
96,129*
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7 SOLE DISPOSITIVE POWER
94,000*
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8 SHARED DISPOSITIVE POWER
96,129*
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
190,129*
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [X]
See Item 4
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.9*
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12 TYPE OF REPORTING PERSON
IN
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</TABLE>
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SCHEDULE 13G
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ITEM 1(a). NAME OF ISSUER:
Habersham Bancorp
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
P. O. Box 1980
Highway 441 North
Cornelia, Georgia 30531
ITEM 2(a). NAME OF PERSON FILING:
David D. Stovall
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
P. O. Box 1980
Highway 441 North
Cornelia, Georgia 30531
ITEM 2(c). CITIZENSHIP:
United States of America
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
Common Stock, $1.00 par value
ITEM 2(e). CUSIP NUMBER:
404459109
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b), OR 13d-2(b),
CHECK WHETHER THE PERSON FILING IS:
N/A
ITEM 4. OWNERSHIP AS OF DECEMBER 31, 1997:
(a) Amount beneficially owned: 190,129*
(b) Percent of class: 7.9%
(c) Number of shares as to which such person has
(i) sole power to vote or direct the vote: 94,000*
(ii) shared power to vote or direct the vote: 96,129*
(iii) sole power to dispose or to direct the disposition
of: 94,000*
(iv) shared power to dispose or direct the disposition
of: 96,129*
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* Mr. Stovall has sole voting and dispositive power with respect
to 94,000 shares, of which 74,000 shares are subject to exercisable options. He
shares voting and dispositive power with respect to 8,334 shares held jointly
with his daughter and 87,795 shares held jointly with his wife. Does not include
5,257 shares
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SCHEDULE 13G
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held in the Habersham Savings Investment Plan as of September 30, 1997, the date
with respect to which the most recent plan statement is available.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
N/A
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
N/A
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:
N/A
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF THE MEMBERS OF THE GROUP:
N/A
ITEM 9. NOTICE OF DISSOLUTION OF GROUP:
N/A
ITEM 10. CERTIFICATION:
N/A
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SCHEDULE 13G
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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: February 9, 1998
Signature: /s/ David D. Stovall
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Name: David D. Stovall