<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q/A
AMENDMENT NO. 1
Mark One
[X] Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange
Act of 1934 for the quarterly period ended March 31, 1995.
[ ] Transition report pursuant to section 13 or 15(d) of the Securities
Exchange Act of 1934 for the Transition period from _________ to _________.
Commission file number 33-1983
SURETY CAPITAL CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 75-2065607
(State or other jurisdiction of (IRS Employer Identification Number)
incorporation or organization)
1845 Precinct Line Road, Suite 100, Hurst, Texas 76054
(Address of principal executive offices)
(817) 498-2749
(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant (1) has all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes x No
--- ---
Common stock outstanding on April 27, 1995, 3,040,829 shares
<PAGE>
PART II - OTHER INFORMATION
Item 1. Legal Proceedings.
Not applicable.
Item 2. Changes in Securities.
Not applicable.
Item 3. Defaults Upon Senior Securities.
Not applicable.
Item 4. Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 5. Other Information.
Not applicable.
Item 6. Exhibits and Reports on Form 8-K.
(a) Exhibits
3.01 Certificate of Incorporation of the Company. (1) (3.01)
3.02 Amendment to the Certificate of Incorporation, dated
April 8, 1987. (2) (3.02)
3.03 Certificate of Amendment to the Company's Certificate of
Incorporation, as filed with the Delaware Secretary of
State on April 4, 1988. (3) (3.04)
3.04 Amendment to the Certificate of Incorporation, dated
June 14, 1993. (4)
3.05 Restated Bylaws of the Company. (5)
10.01 Renewal of Promissory Note in the original principal
amount of $1,750,000, with Surety Capital Corporation as
borrower, and Overton Bank and Trust, N.A. as lender,
dated March 9, 1995. (5) (10.08)
10.02 Surety Capital Corporation 1995 Incentive Stock Option
Plan. (5) (10.12)
27 Financial Data Schedule*
- ---------------------------
* Filed herewith.
(1) Filed with Registration Statement No. 33-1983 on Form S-1 and
incorporated by reference herein.
(2) Filed with the Company's Form 10-K dated October 31, 1987 and
incorporated by reference herein.
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 9
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> MAR-31-1995
<CASH> 4,624,543
<INT-BEARING-DEPOSITS> 1,428,355
<FED-FUNDS-SOLD> 6,730,000
<TRADING-ASSETS> 0
<INVESTMENTS-HELD-FOR-SALE> 6,099,645
<INVESTMENTS-CARRYING> 8,330,960
<INVESTMENTS-MARKET> 8,371,066
<LOANS> 68,179,171
<ALLOWANCE> 719,216
<TOTAL-ASSETS> 100,662,153
<DEPOSITS> 90,117,511
<SHORT-TERM> 1,750,000
<LIABILITIES-OTHER> 470,550
<LONG-TERM> 0
<COMMON> 30,408
0
0
<OTHER-SE> 8,293,684
<TOTAL-LIABILITIES-AND-EQUITY> 100,662,153
<INTEREST-LOAN> 1,807,115
<INTEREST-INVEST> 403,218
<INTEREST-OTHER> 0
<INTEREST-TOTAL> 2,210,333
<INTEREST-DEPOSIT> 731,076
<INTEREST-EXPENSE> 50,055
<INTEREST-INCOME-NET> 1,429,202
<LOAN-LOSSES> 45,000
<SECURITIES-GAINS> 0
<EXPENSE-OTHER> 1,441,261
<INCOME-PRETAX> 311,233
<INCOME-PRE-EXTRAORDINARY> 311,233
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 210,364
<EPS-PRIMARY> 0.07
<EPS-DILUTED> 0.07
<YIELD-ACTUAL> 1,429,202
<LOANS-NON> 75,000
<LOANS-PAST> 22,965
<LOANS-TROUBLED> 0
<LOANS-PROBLEM> 1,073,945
<ALLOWANCE-OPEN> 697,948
<CHARGE-OFFS> 23,732
<RECOVERIES> 0
<ALLOWANCE-CLOSE> 719,216
<ALLOWANCE-DOMESTIC> 669,256
<ALLOWANCE-FOREIGN> 0
<ALLOWANCE-UNALLOCATED> 49,960
</TABLE>
