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NOTICE OF ANNUAL MEETING OF STOCKHOLDERS
MAY 3, 2000
The Annual Meeting of Stockholders of Logan County BancShares, Inc. will be
held at Logan Bank and Trust Company's lobby at 3:00 p.m. on May 23, 2000, for
the following purposes:
1. To elect Directors of the Corporation
2. To transact such other business as may properly come
before the meeting.
Only stockholders of record at the close of business on March 24, 1999, are
entitled to notice of and to vote at the meeting.
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LOGAN COUNTY BANCSHARES, INC.
P.O. BOX 597
WEST VIRGINIA 25601
MAY 3, 2000
PROXY STATEMENT
SOLICIATION AND REVOCABILITY OF PROCESS
This Proxy Statement is furnished in connection with the solication by the
Board of Directors of Logan County BancShares, Inc. (Corporation) of proxies
for the Annual Meeting of Stockholders of the Corporation to be held May 23,
2000, and any adjournment thereof. Shares represented by properly executed
proxies which are received in the time and not revoked will be voted at the
meeting in the manner described in the proxies. Any proxy may be revoked at
any time before it is exercised.
INFORMATION AS TO VOTING SECURITIES
The Board of Directors has fixed the close of business on March 24, 2000,
as the record date for the determination of stockholders entitled to notice
of and to vote at the Annual Meeting. At the record date, 716,991 shares of
Common Stock of the Corporation were outstanding and entitled to be voted at
the meeting. Each share of Common Stock is entitled to one vote.~
ELECTION OF DIRECTORS
The Board of Directors of the Corporation has, in accordance with the
bylaws, fixed the number of Directors of the Corporation at not less than
three. Accordingly, ten Directors are proposed to be elected to serve until
the next Annual Meeting of Stockholders and until their respective
successors are duly elected and have qualified. It is intended that shares
represented by proxies solicited by the Board of Directors will, unless
contrary instructions are given, be voted in favor of the election as
Directors of the nominees listed below. If any nominee is unavailable for
election, the shares may be voted for a substitute nominee. The following
nominees have been proposed to serve as Directors of the Corporation. They
are:
<TABLE>
<CAPTION>
NAME AGE PRINCIPAL OCCUPATION BENEFICIALLY OWNED
---- --- ----------------------------------- ------------------
<S> <C> <C> <C>
Frank H. Oakley 85 Chairman, Bray & Oakley 46,659
Insurance Agency, Inc.
</TABLE>
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<TABLE>
<S> <C> <C> <C>
Harvey Oakley 79 President\Chairman of the (A) 47,331
Board, Logan County
BancShares, Inc.; Attorney
at Law; President\Chairman
of the Board of Logan Bank
and Trust
Clell Peyton 63 Director, Logan Bank and 10,773
Trust; Retired, Nationwide
Insurance Company.
Earle B. Queen 72 Director, Logan Bank and (B) 19,255
Trust; President, James
Funeral Home.
LaVeta Jean Ray 68 Retired Counselor, (C) 7,428
Chapmanville High School.
William W. Wagner 67 Director, Logan Bank and (D) 15,034
Trust: Director and Executive
Committee, United Bancshares;
Former Chairman Eagle
Bancorp, Inc.
Eddie Canterbury 51 Director and Executive Vice (E) 7,510
President\CEO Logan County
BancShares, Inc.; Director and
Executive Vice President\CEO,
Logan Bank and Trust.
Walter D. Vance 49 Vice President, Logan County (F) 4,569
BancShares, Inc.; Vice
President, Aracoma Drug
Company.
Glenn T. Yost 42 Director, Logan Bank and (G) 28,963
Trust; President, W.W. McDonald
Land Co.; President, Triadelphia
Land Co.; President, Bruce
McDonald Holding Co.
David McCormick 52 Director, Logan Bank and Trust; (H) 38,058
President, McCormick's, Inc.;
President, Bodaco, Co.
</TABLE>
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(A) Includes 6,705 shares jointly owned with spouse.
(B) Includes 18,000 shares owned by Earle B. Queen, Trust, 205 shares owned by
Funeral Services, Inc. and 225 shares owned by Queen Brothers, Inc.
(C) Includes 1,428 shares jointly owned with sister, Erma Ray Butcher.
(D) Includes 654 shares jointly owned with spouse.
(E) Includes 357 shares owned in IRA.
(F) Includes 849 shares owned by Aracoma Drug Company.
(G) Includes 1,125 shares jointly owned with spouse; and 27,164 shares for
which voting and investment powers are deemed; 20,625 shares owned by W.W.
McDonald Land Company; 5,863 shares owned by Bruce McDonald Holding
Company; 675 shares owned by Triadelphia Land Company.
(H) Includes 37,908 shares owned by Bodaco, Co.
EXECUTIVE COMPENSION
All Executive Officers of Logan County BancShares, Inc. were $5,200.00 in
Director's fees during 1998.
OTHER MATTERS
As of the date of this Proxy Statement, the Board of Directors was not
aware of any matters not referred to in the form proxy that would be presented
for action at the meeting. If any other business comes before the meeting, the
persons named in the proxy will have discretionary authority to vote the shares
represented by them in accordance with their best judgement.
DATE FOR SUBMISSION OF STOCKHOLDER PROPOSALS
All proposals must be submitted to the Board of Directors 30 days prior to
the Annual Meeting of Stockholders.
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NOTICE TO SHAREHOLDERS
The Annual Disclosure Statement, which contains certain financial information of
Logan Bank and Trust Company, is available upon request.
Please contact the New Accounts Department at:
Logan Bank and Trust Company
43 Washington Avenue
P.O. Box 597
Logan, West Virginia 25601-0597
Phone: (304) 752-1166
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SIGNATURES
Pursuant to the requirements of section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
LOGAN COUNTY BANCSHARES, INC.
(Registrant)
_____________________________
Eddie Canterbury
Executive Vice President/CEO
March 24, 2000
Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed on the dates indicated.
SIGNATURE
Frank H. Oakley Director, President
Harvey Oakley Director, Chairman of the Board
Clell Peyton Director By:_________________________
Earle B. Queen Director Eddie Canterbury
Lavetta J. Ray Director Attorney in Fact
Walter D. Vance Director March 24, 2000
William W. Wagner
__________________________ Executive Vice President
Eddie Canterbury and Director
Director
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LOGAN COUNTY BANCSHARES, INC.
Proxy for the Annual Meeting of Shareholders
To be Held May 23, 2000
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
The undersigned hereby appoints Harvey Oakley and Eddie Canterbury, or any
of them, proxies or proxy of the undersigned with full power of substitution to
vote, as designated below, the shares of the undersigned at the Annual Meeting
of the Shareholders of Logan County BancShares, Inc. to be held at Logan Bank &
Trust Company's office, Corner of Washington Avenue and Main Street, Logan, West
Virginia, on May 23, 2000 at 3:00 p.m. and at any and all adjournments thereof,
with all of the powers the undersigned would possess if personally present.
1. Proposal to approve the nominated Board of Directors.
( ) FOR ( ) AGAINST ( ) ABSTAIN
2. In their discretion, the proxies are authorized to vote upon such other
business and on such other matters as may properly come before the
meeting or any adjournments thereof.
The shares as represented by this Proxy will be voted as
specified by the undersigned. If no specification is made, this
Proxy will be FOR Proposal.
Number of Shares: ________________ Date ___________,2000
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Certificate Name(s) Signature(s)
Please sign in the manner in which your stock is registered. When signing
as attorney, administrator, trustee or guardian, please give your full title as
such. For joint accounts, each Joing Tenant should sign. If a corporation,
please sign in full corporate name by President or other authorized officer. If
a partnership, please sign in partnership name by authorized person.
