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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
______________
SCHEDULE 13D
Under the Securities Exchange Act of 1934
HIGHLANDS BANKSHARES, INC.
(Name of Issuer)
COMMON STOCK
$5.00 PAR VALUE
(Title of Class of Securities)
None
(CUSIP Number)
3 North Main Street
P.O. BOX 929
PETERSBURG, WV 26847
(304)257-4111
(Address, including zip code, and telephone number,
including area code, of principal executive offices)
Roger D. Williams
Wharton, Aldhizer & Weaver
100 S. Mason Street
Harrisonburg, VA 22801
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 5, 1996
(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 statement 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: [ X ]
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CUSIP NO. None 13D
1 Name of Reporting Person John G. VanMeter
S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSON ###-##-####
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
3 SEC USE ONLY
4 SOURCE OF FUNDS OO
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
6 CITIZENSHIP OR PLACE OF ORGANIZATION: WEST VIRGINIA
NUMBER OF 7 SOLE VOTING POWER 34,640
SHARES
BENEFICIALLY 8 SHARED VOTING POWER 11,560
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER 34,640
REPORTING
PERSON WITH 10 SHARED DISPOSITIVE POWER 11,560
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
46,200
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [X]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.99%
14 TYPE OF REPORTING PERSON IN
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Item 1. Security and Issuer.
This statement refers to the shares of common stock, $5.00 par
value (Shares) of Highland Bankshares, Inc., a West Virginia corporation
(Company). The principal executive offices of the Company are located at 3
North Main Street, P.O. Box 929, Petersburg, West Virginia 26847.
Item 2. Identity and Background.
This statement is being filed by John G. VanMeter (Reporting
Person) whose residential address is 220 Bryan Street, Petersburg, West
Virginia 26847. The Reporting Person is a practicing lawyer and partner
in the law firm of VanMeter & VanMeter, the business address of which is 5
Water Street, Petersburg, West Virginia 26847.
During the last five years, the Reporting Person has not been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors), nor has he been a party to a civil proceeding of a judicial
or administrative body of competent jurisdiction resulting in a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws, or
finding any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
William G. VanMeter died on June 28, 1996. Pursuant to the Last
Will and Testament of William G. VanMeter, the Reporting Person was
appointed executor of the William G. VanMeter Estate (VanMeter Estate); and
the Reporting Person subsequently qualified as executor of the VanMeter
Estate on July 5, 1996. The VanMeter Estate includes 34,200 shares
(Acquired Shares) in the Company, which Acquired Shares William G. VanMeter
owned prior to his death.
At the time the Reporting Person qualified as executor of the
VanMeter Estate, the Reporting Person became the beneficial owner of the
Acquired Shares; thus, the Reporting Person paid no consideration for the
Acquired Shares. The beneficial acquisition of the Acquired Shares
increased the Reporting Person's beneficial ownership of the Company to an
amount greater than five percent (5%) of the Company.
Item 4. Purpose of Transaction.
As described in Item 3 above, the Reporting Person acquired
beneficial ownership of the Acquired Shares at the time the Reporting
Person qualified as, and by reason of the Reporting Person's being named
as, executor of the VanMeter Estate.
The Reporting Person intends to liquidate all or a portion of the
Acquired Shares, if needed, in order to pay the debts, expenses, and tax
liability of the VanMeter Estate; otherwise, the Reporting Person intends
to distribute the Acquired Shares to the beneficiaries of the VanMeter
Estate as directed by the Last Will and Testament of William G. VanMeter.
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Item 5. Interest in Securities of the Issuer.
The Reporting Person beneficially owns a total of 46,200 shares,
or 8.99%, of the total outstanding shares of the Company.
The Reporting Person possesses sole voting and sole dispositive
power over 34,640 shares including (i) 440 shares owned outright by the
Reporting Person, separately and individually, and (ii) 34,200 shares
beneficially owned by the Reporting Person in his capacity as executor of
the VanMeter Estate.
The Reporting Person possesses, together with his wife, Mary F.
VanMeter, shared voting power and shared dispositive power over 11,560
shares of the Company. Mary F. VanMeter resides at 220 Bryan Street,
Petersburg, West Virginia 26847, and is not employed.
During the last five (5) years, Mary F. VanMeter has not been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors), nor has she been a party to a civil proceeding of a judicial
or administrative body of competent jurisdiction resulting in a judgment,
decree, or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws, or
finding any violation with respect to such laws.
Mary F. VanMeter separately and individually owns an additional
200 shares, all of which the Reporting Person disclaims any beneficial
ownership.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
Except as otherwise described above, there are no contracts,
arrangements, understandings or relationships (legal or otherwise) between
the Reporting Person and any other person, with respect to any securities
of the Company, including, but not limited to, the transfer or voting of
any of the securities, finder's fees, joint ventures, loan or option
arrangements, puts or calls, guarantees of profits, division of profits or
loss, or the giving or withholding of proxies.
Item 7. Material to be Filed as Exhibits.
No additional exhibits are needed.
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SIGNATURE
After reasonable inquiry and to the best knowledge and belief of
the undersigned, the undersigned certifies that the information set forth
in this statement is true, complete and correct.
Date: July 15, 1996
JOHN G. VANMETER
John G. VanMeter
