<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Amendment No. 1
FORM 10-K/A
(MARK ONE)
(X) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 (FEE REQUIRED)
For the fiscal year ended December 31, 1995
OR
( )TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED)
For the transition period from _____________ to __________
Commission file number 0-14087
FIRST COASTAL CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 06-1177661
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
36 Thomas Drive, Westbrook, Maine 04092
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (207) 774-5000
Securities registered pursuant to Section 12(b) of the Act: Not Applicable
Securities registered pursuant to Section 12(g) of the Act: Common stock, $1.00
par value per share
(Title of class)
Indicate by check mark whether the registrant (1) has filed 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 ____
Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be contained,
to the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. [ ]
On and effective as of September 11, 1991, First Coastal Corporation
was advised by the National Association of Securities Dealers that its Common
Stock had been removed from the NASDAQ National Market System due to an
insufficient number of active market makers in the stock. The Common Stock is
traded in the over-the-counter market in the "pink sheets," although such trades
are limited and sporadic and there is no established public trading market for
the Common Stock. The aggregate market value of the Common Stock held by
non-affiliates based on the book value per share of Common Stock of $6.66 at
December 31, 1995 was $3,989,779.
APPLICABLE ONLY TO REGISTRANTS INVOLVED IN BANKRUPTCY PROCEEDINGS
DURING THE PRECEDING FIVE YEARS:
Indicate by check mark whether the registrant has filed all documents
and reports required to be filed by Section 12, 13 or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a plan
confirmed by a court. Yes ____ No ____
As of the close of business on March 29, 1996, 600,361 shares of the
registrant's Common Stock, par value $1.00 per share, were outstanding.
DOCUMENTS INCORPORATED BY REFERENCE
None
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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.
FIRST COASTAL CORPORATION
April 9, 1996 By: /s/ Gregory T. Caswell
----------------------
Gregory T. Caswell
President and Chief Executive Officer
Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of the Registrant and
in the capacities and on the dates indicated.
April 9, 1996 By: /s/ Gregory T. Caswell
----------------------
Gregory T. Caswell
President and Chief Executive Officer
(Principal Executive Officer)
April 9, 1996 By: /s/ Dennis D. Byrd
------------------
Dennis D. Byrd
Treasurer
(Principal Financial and Accounting Officer)
And by a majority of the Board of Directors of the Registrant.
April 9, 1996 By: /s/ Normand E. Simard
---------------------
Normand E. Simard
Chairman of the Board and Director
April 9, 1996 By: /s/ Roger E. Klein
------------------
Roger E. Klein
Director
April 9, 1996 By: /s/ Edward K. Simensky
----------------------
Edward K. Simensky
Director
April 9, 1996 By: /s/ Charles A. Stewart III
--------------------------
Charles A. Stewart III
Director
2
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EXHIBIT INDEX
Exhibit
No. Description of Exhibit
--- ----------------------
27 Financial Data Schedule
3
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<TABLE> <S> <C>
<ARTICLE> 9
<MULTIPLIER> 1,000
<CURRENCY> US DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<EXCHANGE-RATE> 1
<CASH> 4,466
<INT-BEARING-DEPOSITS> 4,375
<FED-FUNDS-SOLD> 10,000
<TRADING-ASSETS> 0
<INVESTMENTS-HELD-FOR-SALE> 7,926
<INVESTMENTS-CARRYING> 13,101
<INVESTMENTS-MARKET> 13,224
<LOANS> 100,528
<ALLOWANCE> 2,659
<TOTAL-ASSETS> 145,453
<DEPOSITS> 125,665
<SHORT-TERM> 0
<LIABILITIES-OTHER> 791
<LONG-TERM> 15,000
<COMMON> 600
0
0
<OTHER-SE> 3,397
<TOTAL-LIABILITIES-AND-EQUITY> 145,453
<INTEREST-LOAN> 9,662
<INTEREST-INVEST> 1,100
<INTEREST-OTHER> 945
<INTEREST-TOTAL> 11,707
<INTEREST-DEPOSIT> 4,977
<INTEREST-EXPENSE> 873
<INTEREST-INCOME-NET> 5,857
<LOAN-LOSSES> (425)
<SECURITIES-GAINS> (4)
<EXPENSE-OTHER> 5,194
<INCOME-PRETAX> 1,660
<INCOME-PRE-EXTRAORDINARY> 1,660
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 1,660
<EPS-PRIMARY> 2.770
<EPS-DILUTED> 2.770
<YIELD-ACTUAL> 8.380
<LOANS-NON> 1,948
<LOANS-PAST> 169
<LOANS-TROUBLED> 3,427
<LOANS-PROBLEM> 6,885
<ALLOWANCE-OPEN> 4,042
<CHARGE-OFFS> 1,333
<RECOVERIES> 375
<ALLOWANCE-CLOSE> 2,659
<ALLOWANCE-DOMESTIC> 2,659
<ALLOWANCE-FOREIGN> 0
<ALLOWANCE-UNALLOCATED> 228
</TABLE>
