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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
INFORMATION STATEMENT PURSUANT TO
RULES 13d-1 AND 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934/1/
ISB Financial Corp.
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(Name of Issuer)
Common Stock $1.00 Par Value
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(Title of Class of Securities)
450091103
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(CUSIP Number)
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(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)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
/1/ 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 (the "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).
Page 1 of 5
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CUSIP No. 450091103 13G Page 2 of 5 Pages
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1. NAME OF REPORTING PERSONS David M. Knott
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION United States of America
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NUMBER OF 5. SOLE VOTING POWER: 220,200
SHARES
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BENEFICIALLY 6. SHARED VOTING POWER: 128,300
OWNED BY
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EACH 7. SOLE DISPOSITIVE POWER: 220,200
REPORTING
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PERSON WITH 8. SHARED DISPOSITIVE POWER: 131,300
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED 351,500
BY EACH REPORTING PERSON:
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.1%
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12. TYPE OF REPORTING PERSON* IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 5
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Item 1(a) Name of Issuer:
ISB Financial Corp.
Item 1(b) Address of Issuer's Principal Executive offices:
1101 E. Admiral Doyle Drive
New Iberia, LA 70560
Item 2(a) Name of Person Filing:
David M. Knott
Item 2(b) Address of Principal Business Office or, if none, residence:
485 Underhill Boulevard, Suite 205
Syosset, New York 11791
Item 2(c) Citizenship:
United States of America
Item 2(d) Title of Class of Securities:
Common Stock $1.00 Par Value
Item 2(e) CUSIP Number:
450091103
Page 3 of 5
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Item 3 If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or
(c), check whether the person filing is a:
(a) [ ] Broker or dealer registered under Section 15 of the Exchange Act;
(b) [ ] Bank as defined in Section 3(a)(6) of the Exchange Act;
(c) [ ] Insurance company as defined in Section 3(a)(19) of the Exchange Act;
(d) [ ] Investment company registered under Section 8 of the Investment Company
Act;
(e) [ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan, or endowment fund in accordance with rule
13d-1(b)(l)(ii)(F);
(g) [ ] A parent holding company, or control person, in accordance with Rule
13d-1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit
Insurance Act;
(i) [ ] A church plan that is excluded from the definition of an investment
company under Section 3(c)(14) of the Investment Company Act;
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is to filed pursuant Rule 13d-1(c), check this box [x]
Item 4 Ownership:
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(a) Amount Beneficially Owned: 351,500
(b) Percent of Class: 5.1%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 220,200
(ii) Shared power to vote or direct the vote 128,300
(iii) Sole power to dispose or to direct the disposition of 220,200
(iv) Shared power to vote or direct the disposition of 131,300
</TABLE>
Item 5 Ownership of Five Percent or Less of a Class
N/A
Page 4 of 5
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Item 6 Ownership of More than Five Percent on Behalf of Another Person
Persons, other than the Reporting Person hereunder, have the right to
receive or the power to direct the receipt of dividends, or the
proceeds from the sale, of the securities reported herein.
Item 7 Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company
N/A
Item 8 Identification and Classification of Members of the Group
N/A
Item 9 Notice of Dissolution of Group
N/A
Item 10 Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are held in the
ordinary course of business and were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
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 3, 1999
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Date
/s/ David M. Knott
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Signature
David M. Knott
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Name/Title
Page 5 of 5
