UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Amendment No. 7
Granite State Bankshares, Inc.
(Name of Issuer)
Common Stock par value $1.00 per share
(Title of Class of Securities)
387472-10-3
(CUSIP Number)
December 31, 1999
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
schedule is filed:
Rule 13d-1 (b)
Rule 13d-1 (c)
X Rule 13d-1 (d)
*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 ("Act") 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).
CUSIP No. 387472-10-3
1) NAME of REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. of ABOVE PERSONS (entities only)
Granite State Bankshares, Inc.
Employee Stock Ownership Plan
I.R.S. ID No. 02-0399222
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instruction)
a) ( )
b) ( )
3) SEC USE ONLY
4) CITIZENSHIP or PLACE of ORGANIZATION
New Hampshire chartered commercial bank's employee stock
benefit plan organized in New Hampshire
5) SOLE VOTING POWER
NUMBER OF -0-
SHARES
BENEFICIALLY 6) SHARED VOTING POWER
OWNED BY 335,589
EACH
REPORTING 7) SOLE DISPOSITIVE POWER
PERSON 301,903
WITH:
8) SHARED DISPOSITIVE POWER
33,686
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
335,589
10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES (See Instructions)
( )
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.84% of 5,750,493 shares of Common Stock outstanding as of
December 31, l999
12) TYPE OF REPORTING PERSON (See Instructions)
EP
Granite State Bankshares, Inc.
Employee Stock Ownership Plan
SCHEDULE 13G
Item 1 (a) Name of Issuer:
Granite State Bankshares, Inc.
Item 1 (b) Address of Issuer's Principal Executive Offices:
122 West Street
Keene, New Hampshire 03431
Item 2 (a) Name of Person Filing:
Granite State Bankshares, Inc.
Employees Stock Ownership Plan
Trustee: Granite State Bankshares, Inc.
Board of Directors
122 West Street
Keene, New Hampshire 03431
Item 2 (b) Address of Principal Business Offices:
122 West Street
Keene, New Hampshire 03431
Item 2 (c) Citizenship:
New Hampshire chartered commercial bank's
employee stock benefit plan organized in New Hampshire.
Item 2 (d) Title of Class of Securities:
Common Stock par value $1.00 per share
Item 2 (e) CUSIP Number: 387472-10-3
Item 3 The person filing this statement is an employee benefit plan
which is subject to the provisions of the Employee Retirement
Income Security Act of 1974
Item 4 Ownership. As of December 31, l999, the reporting person
beneficially owned 335,589 shares of the issuer. This number of
shares represents 5.84% of the common stock, par value $1.00,
of the issuer, based upon 5,750,493 shares of such common
stock outstanding as of December 31, l999. As of December
31, 1999, the reporting person has sole power to vote or to
direct the vote of none of the shares and shares voting power
over 335,589 shares. The reporting person has the sole
power to dispose or direct the disposition of 301,903 shares
of common stock and the shared power to dispose or direct the
disposition of 33,686 shares of common stock.
Item 5 Not applicable.
Item 6 Not applicable.
Item 7 Not applicable.
Item 8 The reporting person is an employee benefit plan subject to
the provisions of the Employee Retirement Income Security Act
of l974.
Item 9 Not applicable.
Item 10 Certification.
By signing below, I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired in
the ordinary course of business and were not acquired for the
purpose of and do not have the effect of changing or
influencing the control of the issuer of such securities and
are not acquired in connection with or as a participant in any
transaction having such purpose or effect.
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.
February 1, 2000
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(Date)
/s/ Charles W. Smith
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Charles W. Smith
(Signature)
Charles W. Smith / ESOP Committee Member
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(Name/Title)
