<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13D
(Amendment No. 6)
Under the Securities Exchange Act of 1934
People's Bancshares, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.10 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
709795108
- --------------------------------------------------------------------------------
(CUSIP Number of Class of Securities)
Thomas F. Gillen
c/o RCG Kingston, L.L.C.
666 Third Avenue, 26th Floor
New York, New York 10017
(212) 845-7900
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 17, 2000
- --------------------------------------------------------------------------------
(Date of Event which Requires
Filing of this Schedule)
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:
<PAGE>
SCHEDULE 13D
- ------------------- ------------------
CUSIP No. 709795108 Page 1 of 16 Pages
- ------------------- ------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
RCG Kingston Fund, Ltd.
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 129,800
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
129,800
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
129,800
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.99%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ------------------- ------------------
CUSIP No. 709795108 Page 2 of 16 Pages
- ------------------- ------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
RCG Kingston, L.L.C.
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 129,800
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
129,800
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
129,800
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.99%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA, OO
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ------------------- ------------------
CUSIP No. 709795108 Page 3 of 16 Pages
- ------------------- ------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kingston Fund, LP
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 129,800
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
129,800
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
129,800
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.99%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ------------------- ------------------
CUSIP No. 709795108 Page 4 of 16 Pages
- ------------------- ------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ramius Capital Group, LLC
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 129,800
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
129,800
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
129,800
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.99%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ------------------- ------------------
CUSIP No. 709795108 Page 5 of 16 Pages
- ------------------- ------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
C4S & Co., LLC
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 129,800
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
129,800
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
129,800
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.99%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ------------------- ------------------
CUSIP No. 709795108 Page 6 of 16 Pages
- ------------------- ------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jennings & Gillen
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 129,800
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
129,800
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
129,800
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.99%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ------------------- ------------------
CUSIP No. 709795108 Page 7 of 16 Pages
- ------------------- ------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
D.B. Jennings, Inc.
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 161,802
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
161,802
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
161,802
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.98%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ------------------- ------------------
CUSIP No. 709795108 Page 8 of 16 Pages
- ------------------- ------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Donald B. Jennings
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 161,802
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
161,802
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
161,802
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.98%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ------------------- ------------------
CUSIP No. 709795108 Page 9 of 16 Pages
- ------------------- ------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Thomas F. Gillen
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 129,800
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
129,800
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
129,800
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.99%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ------------------- -------------------
CUSIP No. 709795108 Page 10 of 16 Pages
- ------------------- -------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Partnership For Bank Capital, L.P.
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 32,002
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
32,002
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
32,002
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.98%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ------------------- -------------------
CUSIP No. 709795108 Page 11 of 16 Pages
- ------------------- -------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Vincent A. Smyth and Mary E. Smyth
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 136,500
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
136,500
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
136,500
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.20%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
This Amendment No. 6 to Schedule 13D relates to the shares of common stock,
$.10 par value, of People's Bancshares, Inc. This Amendment No. 6 amends the
Schedule 13D, as amended (the "Schedule 13D"), of the Reporting Persons (as
defined in the Schedule 13D). Capitalized terms used in this Amendment No. 6 but
not otherwise defined have the meaning ascribed to them in the Schedule 13D.
On December 3, 1999, Vincent A. Smyth and Mary E. Smyth purchased 5,000
shares of Common Stock at $19.125 per share in an open market transaction. This
transaction, and the resultant increase in the amount of shares owned by Mr. and
Mrs. Smyth, was not reported in Amendment No. 4 to Schedule 13D, dated January
27, 2000, or in Amendment No. 5 to Schedule 13D, dated March 17, 2000. This
Amendment No. 6 is being filed solely to report such transaction and to amend
and restate Item 5 as set forth below in its entirety to reflect the proper
share amounts.
Item 5. Interest in Securities of the Issuer.
In the aggregate, the Reporting Persons are the beneficial owners of
298,302 shares of the Issuer's Common Stock (representing 9.17% of the issued
and outstanding Common Stock).
RCG Kingston Fund, Ltd. is the beneficial owner of 129,800 shares of the
Issuer's Common Stock (representing 3.99% of the issued and outstanding Common
Stock). Of these 129,800 shares, RCG Kingston Fund, Ltd. has shared voting and
dispositive power over 129,800 shares. RCG Kingston, L.L.C. may be deemed to be
the beneficial owner of 129,800 shares as a result of its acting as investment
advisor to RCG Kingston Fund, Ltd. Kingston Fund, LP may be deemed to be the
beneficial owner of 129,800 shares as a result of its being a holder of a
majority of the outstanding shares of RCG Kingston Fund, Ltd. Ramius Capital
Group, LLC and Jennings & Gillen may be deemed to be the beneficial owner of
129,800 shares as a result of their being co-managing members of RCG Kingston,
L.L.C. C4S & Co., LLC may be deemed to be the beneficial owner of 129,800 shares
as a result of its being the managing member of Ramius Capital Group, LLC.
Thomas F. Gillen may be deemed to be the beneficial owner of 129,800 shares as a
result of his being a co-general partner of Jennings & Gillen.
The Partnership For Bank Capital, L.P. is the beneficial owner of 32,002
shares of the Issuer's Common Stock (representing 0.98% of the issued and
outstanding Common Stock). Of these 32,002 shares, The Partnership For Bank
Capital, L.P. has shared voting and dispositive power over 32,002 shares. D.B.
Jennings, Inc. may be deemed to be the beneficial owner of 161,802 shares as a
result of its being a co-general partner of Jennings & Gillen and a co-general
partner of The Partnership For Bank Capital, L.P. Donald B. Jennings may be
deemed to be the beneficial owner of 161,802 shares as a result of his being the
president of D.B. Jennings, Inc. and a co-general partner of The Partnership For
Bank Capital, L.P.
Vincent A. Smyth and Mary E. Smyth are the beneficial owner of 136,500
shares of the Issuer's Common Stock (representing 4.20% of the issued and
outstanding Common Stock). Of these 136,500 shares, Vincent A. Smyth and Mary E.
Smyth have shared voting and dispositive power over 136,500 shares.
12 of 16 Pages
<PAGE>
Each RCG Kingston Reporting Person expressly disclaims beneficial ownership
of any shares of Common Stock beneficially owned by Vincent A. Smyth and Mary E.
Smyth. Each RCG Kingston Reporting Person, except for D.B. Jennings, Inc. and
Donald B. Jennings, expressly disclaims beneficial ownership of any shares of
Common Stock beneficially owned by The Partnership For Bank Capital, L.P.
The percentages used herein are calculated based upon the 3,251,734 shares
of Common Stock stated to be issued and outstanding at April 28, 2000, as
reflected in the Issuer's proxy statement relating to its Annual Meeting of
Stockholders to be held in 2000.
To the best knowledge of the Reporting Persons, none of the persons named
in Annex A has beneficial ownership of shares of Common Stock.
During the last 60 days, none of the Reporting Persons acquired any shares
of Common Stock.
No person other than each respective record owner referred to herein of
shares of Common Stock is known to have the right to receive or the power to
direct the receipt of dividends from or the proceeds of sale of shares of Common
Stock, except that the shareholders of RCG Kingston Fund, Ltd. have the right to
participate in the receipt of dividends from or proceeds for the sale of, the
shares of Common Stock held for their respective accounts.
13 of 16 Pages
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: May 17, 2000
RCG KINGSTON FUND, LTD.
By: RCG Kingston, L.L.C., its
investment advisor
By: Jennings & Gillen, its
co-managing member
By: /s/ Thomas F. Gillen
------------------------------
Name: Thomas F. Gillen
Title: General Partner
RCG KINGSTON, L.L.C.
By: Jennings & Gillen, its
co-managing member
By: /s/ Thomas F. Gillen
------------------------------
Name: Thomas F. Gillen
Title: General Partner
KINGSTON FUND, LP
By: RCG Kingston, L.L.C., its
general partner
By: Jennings & Gillen, its
co-managing member
By: /s/ Thomas F. Gillen
------------------------------
Name: Thomas F. Gillen
Title: General Partner
14 of 16 Pages
<PAGE>
RAMIUS CAPITAL GROUP, LLC
By: C4S & Co., LLC
By: /s/ Peter A. Cohen
------------------------------
Name: Peter A. Cohen
Title: Co-Managing Member
C4S & CO., LLC
By: /s/ Peter A. Cohen
------------------------------
Name: Peter A. Cohen
Title: Co-Managing Member
JENNINGS & GILLEN
By: /s/ Thomas F. Gillen
------------------------------
Name: Thomas F. Gillen
Title: Co-General Partner
D.B. JENNINGS, INC.
By: /s/ Donald B. Jennings
------------------------------
Name: Donald B. Jennings
Title: President
/s/ Donald B. Jennings
------------------------------
Donald B. Jennings
/s/ Thomas F. Gillen
------------------------------
Thomas F. Gillen
15 of 16 Pages
<PAGE>
THE PARTNERSHIP FOR BANK CAPITAL, L.P.
By: D.B. Jennings, Inc., a general
partner
By: /s/ Donald B. Jennings
------------------------------
Name: Donald B. Jennings
Title: President
/s/ Vincent A. Smyth
------------------------------
Vincent A. Smyth
/s/ Mary E. Smyth
------------------------------
Mary E. Smyth
16 of 16 Pages
